SoundBite

Activate the Voice Messaging Advantage

Credit card issuers seek to increase credit card activations and retention rates, encourage balance transfers and prompt payments, reduce fraud, and collect past due balances as cost-effectively as possible. The quality of the customer experience is a key factor in retaining and adding new accounts in this highly competitive business.

SoundBite’s role is to provide economical, personalized outreach capabilities that vastly improve call center effectiveness, generate more business activity within the customer base, and streamline the collections process.

• Penetrate lists to a deeper extent in much less time
• Expand the possibilities of cross-sell and up-sell opportunities with automated solutions for the willing customer
• Enhance customer satisfaction with helpful, professional communication of important information while reducing inbound calls and requests
• Dramatically improve direct marketing response rates, while reducing the cost-per-contact
• Automate payment transactions while giving the customer control of the interaction
• Maximize call center agent time spent with right party contacts
• Protect the privacy and security of customer information

Credit More Results to Marketing

Maximizing up-sell and cross-sell to existing consumers is a high priority for all financial services

Companies who issue credit cards focus on promoting new products and extending usage of existing cards within the customer base. Achieving higher retention rates and overall profitability are paramount to success. Customer contact programs can be delivered rapidly and cost-effectively using the extraordinary breadth of SoundBite voice messaging capabilities.Deliver offers such as pre-approved credit and attractive balance transfer rates using personalized, branded marketing messages that generate ready-to-act respondents Promote rewards program features to preferred customers

• Deliver welcome messages to thank new customers and reinforce important features and benefits of their new cards
• Speed up activations by proactively contacting recipients to automatically verify their identity and activate the card
• Bring new cards into use faster by contacting customers to confirm and complete missing information on their applications
• Prevent credit card misuse by verifying that cards have been received
• Achieve dramatically higher response rates than direct marketing, with full reporting of call attempts, connections, bad numbers, right party verification, direct connect rate, and answering machine messages left
• Uplift response to direct marketing by following up with voice messaging outreach
• Conduct an entire customer promotion in hours versus weeks or months required to complete the direct mail response curve
• Test new offers and marketing messages quickly and cost-effectively, including ideas that were not previously explored due to high direct marketing cost
• Gather and analyze success data in real-time

Playing the Personal Service Card

Customer service and relationship-building are key characteristics of successful credit card companies. Cardholders have come to expect a high level of sophistication in their customer service interactions. Consistent, positive contact with customers strengthens loyalty and maximizes retention. The challenge is to increase the frequency and value of proactive communications while minimizing the associated costs. SoundBite offers rich communication options that can elevate every aspect of your customer contact programs.

• Achieve extremely high penetration rates when sending notifications to the customer base using SoundBite’s flexible multi-pass campaign strategies, multi-number escalation procedures, and outstanding answering machine detection and messaging
• Issue fraud alerts in a timely fashion in response to unusual or suspicious credit card transactions; verify account activity quickly with the customer
• Update customers proactively regarding the status of credits to their accounts and resolutions of disputed charges
• Quickly and efficiently contact customers to verify account activity in an effort to minimize fraud losses
• Pre-empt bursts of inbound customer service calls often triggered by events such as changes in billing statements
• Obtain necessary account information to keep customer records up-to-date
• Conduct automated satisfaction surveys more cost effectively. Voice messaging generates higher response rates and delivers immediate results so you can take corrective action before dissatisfied customers take action themselves

More Effective Strategies. More Productive Tactics. 

Collections organizations are under extreme pressure to reduce the cost of debt recovery, shrink the collections cycle, and increase recovery rates. For credit card collections departments, the challenge is to maintain customer loyalty and a positive brand image while optimizing collections results.

SoundBite voice messaging has been proven at 75% of the top 25 collections firms to generate dramatically better results, when augmenting (or often fully replacing) dialer-based programs. In organizations doing manual calling, SoundBite provides an immediate boon to agent productivity and overall cost-effectiveness.

• Adjust calling strategies as your objectives change and evolve; automatically manage call volumes to keep agents busy but not buried
• Dramatically increase dollars-collected-per-hour while reducing cost-per-dollar-collected
• Provide convenient, immediate access to self-service payment options
• Boost penetration rates with unlimited calling capacity
• Drive more right parties to your agents and connect with debtors before other creditors, lenders, or agencies can
• Automatically verify right parties to increase agent time spent on high-value contacts
• Substantially reduce agent time spent talking to wrong parties and leaving answering machine messages
• Eliminate the 2-second delay mandated at the start of calls placed by predictive dialers
• Deliver higher overall results using fewer outbound agents
• Model your best agent, ensuring the highest quality customer interaction
• Manage call volumes to keep agents busy but not buried; turn cold outbound calls into warm inbound calls