Thursday May 01, 2014

Want to offer personalized service but have concerns about compliance? We can help. by Heike Lorenz

A personalized customer experience is already beginning to overtake price and product as the key brand differentiator. Going forward, one-size-fits all customer service won't suffice, as consumers grow increasingly impatient with inconsistencies and inefficiencies that don't serve their individual needs.1

However, only 25%2 of organizations can provide highly personalized service. Even fewer can ensure that service complies with policy rules and regulations. Compliance is critical in highly regulated industries like financial services, telecommunications, utilities, higher education, etc.

So how can you achieve personalized, compliant service that differentiates your brand?

By using a policy automation platform to automate and deploy policies across all touchpoints. Policies take the form of dynamic interviews, which ask questions relevant to individual customers, and automatically tailor service and offers based on customers’ real-time responses. The interviews document how each decision is made, and can automatically generate a report.

So what does this mean for your customers and you?! It means that if you are a bank and your customer doesn’t qualify for a loan, he can see how much he needs to raise his credit score in order to be eligible. Offering a personalized explanation eliminates the need to call the contact center and builds trust through transparency. And it gives your organization a comprehensive report of all customer interactions detailing policy compliance to ensure audit readiness.

Companies using this approach can provide highly personalized service—increasing loyalty and satisfaction—while being 100% confident they are compliant. 

1. http://www.smartcustomerservice.com/Columns/Vendor-Views/3-Top-Customer-Experience-Trends-in-2014-95016.aspx

2. http://www.retailtouchpoints.com/resource-center/51-white-papers/1219-top-5-trends-in-retail-for-improving-customer-service-and-advocacy-management

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