Customer Communications You Can Take to the Bank
Banks must maximize the value of each customer by offering competitive deposit and loan products, from mortgages and home equity lines to student and car loans, from online banking to CDs and money market savings accounts. SoundBite helps you capture more "share of wallet" by reaching all your customers quickly and cost-effectively, while focusing special attention on your best customers.
At the same time, banks seek to increase customer satisfaction and the depth and breadth of their customer relationships, while reducing costs associated with late payers and debt collection. SoundBite voice messaging offers powerful new ways to achieve all of these goals at a very low cost per contact.
- Supercharge existing customer communications programs with personalized, interactive voice messages that prompt immediate response
- Increase retention rates by offering the right incentive at just the right time
- Exploit opportunities to cross-sell and up-sell customers, generating immediate and cost-effective results
- Dramatically improve direct marketing response rates, while reducing cost-per-contact
- Reduce number of late payers with proactive payment reminders
- Increase collections success by prompting customers to use self-service or call center resources
- Improve call center productivity by auto-verifying right parties
- Build customer satisfaction by proactively sending deposit notifications, loan approvals, and balance information to consumers
- Update account holders proactively on the status of deposits, account credits, credit lines—and more
Your Best Customers Would Like You to Call
Retaining customers and maximizing up-sell and cross-sell opportunities are high priorities for retail banks. Success requires focused, effective customer interactions for new product promotions and retention programs, which must be delivered rapidly and cost-effectively. The breadth of SoundBite voice messaging capabilities makes it a powerful force for improving customer marketing results.
- Send automated voice messages at key moments prior to CD maturity dates and loan payoffs to present latest rates and encourage reinvestment or refinancing
- Deliver helpful offers such as pre-approved lines of credit, attractive balance transfer rates, overdraft protection and loyalty programs for preferred customers
- Build customer satisfaction and brand loyalty by timely communication of deposit notifications, loan approvals, and even balance information
- Achieve dramatically higher response rates than direct mail, with immediate analytics covering total call attempts, connections, answering machine messages, bad numbers, right party verifications, direct connect rates, and more
- Uplift response to direct marketing by following up with voice messaging outreach
- Conduct an entire customer promotion in hours versus the direct mail response curve of weeks or months.
- 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
High Expectations Demand a New Level of Service
Customer service and relationship management are the watchwords of successful organizations. Improvements in the level of service retail banking customers receive have only increased their expectations. Consistent, positive contact with customers strengthens loyalty and maximizes retention, but banks must increase the frequency and value of proactive communications. The challenge is to do it all while reducing the costs associated with customer contact.
SoundBite offers a rich selection of communication options that can elevate every aspect of your contact programs and bring customer satisfaction to a whole new level.
- Deliver welcome messages to thank new customers and reinforce important features and benefits
- Speed the application process by contacting customers to confirm and complete missing information at their convenience
- Send loan applicants status updates during the approval process.
Eliminate in-bound calls and make your loan officers more efficient - Survey applicants for loans that originate through sponsors such as dealer networks to ensure that sponsors are serving your customers well
- Achieve extremely high penetration rates when calling the customer base with flexible multi-pass campaign strategies, multi-number escalation procedures, and outstanding answering machine detection and messaging
- Build customer satisfaction by proactively sending deposit notifications, loan approvals, and balance information to consumers
- Pre-empt bursts of inbound customer service calls normally 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
More Collections. Less Cost-per-Dollar.
Every collections organization is under extreme pressure to reduce the cost of debt collection, shrink the collections cycle, and/or increase recovery rates.
Retail banking collections departments must also streamline the collections process while maintaining a positive brand image and customer loyalty.
No matter what type of loan products you offer, from mortgages to home equity, from car loans to student loans, SoundBite has the experience to help you improve your collections results:
- Collect more revenue within a shorter period of time.
- Dramatically increase Dollars Collected per Hour while also reducing cost-per-dollar-collected.
- Maximize agent time spent with right party contacts – reduce unproductive conversations with wrong parties and answering machines
- Enable automated collections payments and increase agent-less transactions.
- Liven up a quiet floor and accelerate resolution by turning cold outbound calls into warm inbound calls.
- Deliver higher overall results using fewer agents.
- Manage call volumes to keep agents busy, but not buried.
- Boost penetration rates without adding staff by reducing wrong persons reached and hang ups.
- Model your best agent, ensuring the highest quality customer interaction.
SoundBite is continually developing innovative, new automated customer contact solutions tailored to optimize results in collections operations.