The Challenge

Since customer churn was becoming a growing area of concern, this banking institution decided that they needed a way to measure customer satisfaction and their customer’s view of their banking services.

Prior to engaging with Telvista, the bank was assessing quality solely through an internal group and measuring their customer interactions with a limited scope. This method only produced half of the picture, leaving the bank to make assumptions as to how customers really felt about their services and interactions. But to effectively measure and improve customer satisfaction, banks need to obtain feedback directly from their customers so they can take action on improvement areas and continue to do well in strength areas. Telvista helped the bank do just that!

Telvista Solution

Telvista’s goal for this banking client was to help them identify specific areas where they could improve customer satisfaction. In order to accomplish these tasks, Telvista conducted a needs analysis with the banking institution and developed seven simple survey questions. These questions were recorded by a professional voice talent and incorporated into an Interactive Voice Response System (IVR). Customers are now transferred into this system directly after their call with a banking representative to take this brief (approximately one-minute) survey.

With the information gathered in the IVR, the bank chose to focus on improving the friendliness of the bank representative, the accuracy of the information provided, and call resolution rates.

The Results

With the information gathered through the survey, Telvista helped to reveal key attributes that drive customer loyalty, and uncovered trends that allowed the bank to make the changes needed to increase customer loyalty. Additionally, dissatisfied customers now have the option for their call to be directed to a special customer service group who will address their concerns.

As a direct result of modifying employee behaviors based on the data gathered from this survey, the client has already saved approximately $100,000 by retaining more than 750 customers in the first year.

A representative from the bank commented that "The IVR survey is a great way to learn directly from our customers how satisfied they were with our service. We have found this solution to be a very timely, cost-effective means of obtaining valuable feedback regarding our customer interactions."

The Bottom Line

By gathering critical information from the bank’s customers and organizing their data into actionable reports, Telvista has proven that post-call customer satisfaction surveys provide valuable information to our clients. This banking client has been able to increase customer loyalty, retention, and revenue with the help of our customer satisfaction survey.

Telvista’s web-enabled IVR technology helps improve operating efficiencies, increase customer satisfaction, and better manage costs associated with delivering customer care.

Let one of our experts customize a solution to fit your needs. Call Telvista today at 1-800-563-9699. Or visit us online at www.telvista.com.