Why Does Every Bank Needs a Customer Service Call Center
Luis Olvera

Why Does Every Bank Need A Customer Service Call Center

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Banks are the cornerstone of the current world we live in; businesses and clients alike interact with them daily, some going as far as doing so every minute.

For this reason, Banks understand that their clients, small, medium, or large, need a way to interact with them at every moment to ensure business continuity or take rapid action when a critical situation arises.

The added complexity of the operations needs to be handled every day by a bank; visiting a bank for these operations can take a considerable part of the day.

With this in mind, a Banking institution would not see a viable investment in opening more locations with a large volume of tellers or employees, especially for simple tasks that can be resolved otherwise.

To put things into perspective, a study performed on 200 Banking institutions reported that employees and managers on location spend at least one-third of their day answering questions and inquiries.

For this reason, the investment in creating a Call Center is not a question for a Bank, and their existence is essential to ensure that there is available service 24 hours a day the 365 days of the year.

Rethinking your day-to-day operations.

The Added Benefits of Having a Call Center for Customer Service Also Provide a Wide Range of Solutions Such As:

  • Faster interaction and resolution for inquiries, allowing clients to solve their needs without the need to visit their Banking institution.
  • Saving time for your clients, through a call it is also possible for clients to receive guidance.
  • Resources available to the bank such as mobile applications, website portals, or other digital tools which in turn provides additional options for clients.
  • Increase their productivity and interaction time with the banking institution.
  • A decrease in the cost of the operation, with proper training and guidance a Call Center is a far cheaper solution than increasing the number of employees in location.

Flexibility in Operations

  • A Call Center Customer Support Representative can easily perform different tasks when there is a micro-segmentation in the departments, it is easier to place an additional workforce when the call flow increases on another queue.
  • Call Centers can be built as a safe environment that aligns with the needs of a Bank, by following compliance and rigorous security measures it stays inside the requirements that allow for client data to remain private and secure.
  • Visibility on Services and Options, clients may not be aware of the full set of services or options at their disposal which a Customer Service.
  • Representatives can provide guidance and assistance, this in turn adds an additional return of investment when clients wish to obtain additional services or a loan making it an excellent opportunity for an upsell
  • Communication through different methods, Call Centers can provide support beyond calls such as live chat, e-mail, and fax, allowing the clients of the bank greater flexibility on their options to get support, especially when limited on the current tools at their disposal.

Call Center as an investment

The current global situation of Covid-19 also brought up an important change in how Banks and their clients interact, Banking Call Centers around the United States saw an initial surge in January of 2.2% in volume of calls.

In February the increase came to 21.5% and by March the volume had gone up to 36.2% across the board, in a single Banking Institution going up as much as 43.3%.

While these numbers are particular to this situation it is a key factor as to why Banks see a Call Center as an investment that provides them with a considerable return on investment.

It is important to note that to keep up with the requested contingency the Call Centers had to apply measures to allow their representatives to work from home, continuing with the flexibility of growth and service with the required security by the banking institutions.

In the end, a Bank without a Call Center is immediately losing the competitive edge against other peers in the business and risks seeing their clients and their business moving elsewhere to those who offer this option.

Are you keeping at the front of the competition, do you need help expanding your current Call Center solution or creating one for the benefit of your clients?

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[1] https://silvercloudinc.com/blog/top-3-banking-call-center-best-practices/

[2] https://www.americanbanker.com/news/how-banks-prepared-call-center-reps-to-handle-surge-in-volume-from-home

5 Customer Service KPIs You Should Be Tracking
Luis Olvera

5 Customer Service KPIs You Should Be Tracking

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In the world of Call Centers, there is Customer Service, the bread and butter of every available service in the world, the cornerstone that makes your business stand in a great foundation for success.

But one crucial question to know how successful this venture is, how do I measure it and how do I know we are doing the right thing with our Customer Service service?

There are important KPI, Key Performance Indicators, that can be easily identified and measure throughout every interaction which is known as Customer Service KPIs, below we have built a list of the five most important ones to ensure quality and excellence are reached.

First Response Time (FRT)

The FRT is potentially the most important of the KPIs that you will find in this list, to ensure that the client is satisfied on their first contact in the shortest amount of time is the key to ensure that their business will retain a solid relationship with your service.

How to calculate First Time Response Time

Average Resolution Time (ART)

The ART shares the same space with the FRT, it is the average period that your Customer Service team takes to solve questions, needs, or issues and must remain as low and as solid as possible to ensure that clients are satisfied and returning.

How to calculate Average Resolution Time (ART)

Customer Satisfaction Score (CSAT)

The CSAT stand very close to the top in this list, it stands as the KPI which helps you identify how your clients perceive the quality and effectiveness of Customer Service by asking key questions such as:

  • How satisfied are you with your interaction with Customer Service?
  • How satisfied are you with the product/service?
  • Would you have any recommendations or comments about this interaction?
  • Would you have any recommendations or comments about the product/service?
How to calculate Customer Satisfaction Score (CSAT)
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Net Promoter Score (NPS)

The NPS is a measurement that together with the CSAT allows you to understand the full scope of your current client base through their satisfaction and how likely it would be for them to recommend this service to family and friends, a successful Customer Service interaction may not always produce a promoter but it will prevent detractors from arising.

How to calculate Net Promoter Score (NPS)

Customer Retention Rate (CRR)

The CRR may be the last in the list but it is as important as the previous items Customer Service KPIs on this list. Customer Retention is achieved through excellent service and ensuring that all client expectations are met.

How to calculate Customer Retention Rate (CRR)

From these points, we can identify how the procedures in place effectively impact the relationship between your business and your client; if these KPIs aren’t met, then actions should be taken to identify any pitfalls or improvements.

Missing out on the FRT or ART can produce a chain reaction in how your clients interact with your service; they may avoid contacting Customer Service altogether and find out other services that provide a faster and more effective response time.

The CSAT is the microscope that gives you the best insight on how satisfied your clients are with their interaction with Customer Service and your current selection of services; if this KPI is not addressed accordingly or not attended at all, your clients may feel ignored and that their opinion is of no concern to your business which in turn may produce detractors.

Interactions Would Take Your Business To The Next Level

On the other hand, by ignoring the NPS, there is ample space for a detractor base to be built and impact revenue and business; it is easier for a detractor to be born through Customer Service interactions when there are wrong procedures or concerns are ignored.

To make it clear in numbers, 41% of consumers will spend less money if they have a terrible experience; for B2B interactions, this raises to 51%, but the main difference would be that they would instead take their business elsewhere than continue with the interactions.

These numbers, in turn, will tell us that at least 41 billion dollars are lost due to these detractors, and this is a number that is only focused on the United States. [1]

Finally, ignoring the CRR allows clients to step out of the spotlight without their needs being met, their comments being heard, or their opinion is considered, building a more extensive base of detractors that generally affect the business.

Suppose the Customer Service KPIs are not assessed. In that case, there is always the possibility of losing critical business and eventually getting behind the race against competitors who take note of what is happening in their most crucial department by looking at these indicators.

Ready to jump into giving your clients world-class Customer Service and ensuring that all these KPIs are met and exceeded?

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[1] https://www.retently.com/blog/nps-detractor/

How customer service helps your business with a woman on headset
Luis Olvera

How Customer Service Helps Your Business

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Customer Service is one of the key pillars of any type of business around the globe and it has an incredible impact on how a product gets handled as well as the image of the company, a Customer Service Representative is the first contact of any potential or recurring customer of any service or product.

But you may be wondering, is it true that Customer Service can truly make or break a company, and does it impact what I do?.

Bad Customer Experience Impacts More Than Sales

There are many stories out in the world about how Customer Service has made an impact in the memory of customers from excellent, to good up to complete dread. Customer Service is not only about picking up a phone and answering questions, it does not mean someone should be there to sell, it means that a complete culture and idea is expelled into the world to your customer and show them what your company is all about.

Your product may be the greatest invention of the twenty-first century, it could be what everyone needs during the time of Covid-19, but without a good team to support it, this product may as well remain in the back storage rooms and warehouses, never seeing the daylight just because someone did not know how to treat your customers.

Customer Service represents your brand image, mission and values.

This is another important factor when looking at expanding your business and looking at a Call Center or Customer Service Representative team as a business cost, this can be detrimental for your business and in turn have a lasting impact on revenue, image, and potential future Ventures.

The Impact of Bad Customer Experience on Your Business

To better understand how Customer Service can have a positive impact on your business we have produced a small list of key factors that help in keeping customer loyalty and ensuring that expectations are met and exceeded all the time:

Being honest, knowledgeable, and professional are three additional pillars that make the house of this great foundation when a Customer Service Representative can provide answers for all the questions, is honest about your product, and ensures that every interaction is made with the utmost quality there will be a returning satisfied customer every time.

50% of customers increase their purchasing with a brand after a positive customer service experience.

Human Presence to Active Interaction

  • Automation of Customer Service tasks has been on the rise through the years, providing clients with automated response systems such as voice prompts or chatbots, while this does help remove the burden and stress on your Customer Service Frontline it is the human interaction that humans want in the end.
  • Customer Service can help you reduce the number of conflicts and issues that would arise otherwise, humans can commit errors and we understand that (to err is human)  which can be easily resolved through the four aforementioned pillars of Customer Service.
  • It is also a fact that great Customer Service can increase the revenue of your company by up to 25%[1], this through great interactions, resolving conflicts, and improving the lines of communication with customers.

With those ideas in mind we have to return to the main question, does Customer Service truly make or break a company? The answer is: absolutely.

Customer Service is the main buffer, the zone where your clients can come to find answers to all their questions and doubts, the area that exudes a shining example of your company culture and ideals, it is here that relationships can be made or broken all from how your customers feel they are being treated.

With this in mind, we can state that Customer Service is one of the primary components that every company should be looking at when deciding how to best expand their business, ensuring that their current customers are kept satisfied and coming back for more. Ready to make the jump into excellent Customer Service with a great partner in Mexico?

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[1] https://ebq.com/sales-and-customer-service/

Top 10 reasons to outsource your call center operations to Mexico
Luis Olvera

Top 10 Reasons to Outsource Your Call Center to Mexico

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At RedialBPO we know that your business is important, business continuity, scalability, availability, and business cost are key factors in choosing the right partner when deciding to outsource your business.

Mexico as a nearshore company presents a large opportunity for your business to grow considerably without making it into a simple Cost Center.

Below we have the Top 10 reasons why outsourcing Call Center to Mexico will bring a boost to your business on all fronts.

Competitive Costs and Return on Investment

It is official, every business is looking to make a profit otherwise they would not be on the market. The costs of outsourcing Call Center to Mexico are considerably cheaper than local salary, rents, and infrastructure costs, by moving your operation down to Mexico we pass the savings back to you with great reliability, excellent customer service, and a culture of work that exceeds your expectations.

A Long Historical Relationship

With a long relationship that spans more than two centuries, Mexico is one of the countries that has had considerable interaction with the United States. This includes a deep understanding and compatibility with the culture, language, work ethics, and a business mindset that is set to bring your business to the next level and position you at the head of your field.

Knowing Who We Work With and Why Their Business Is Important

Through the long historical relationship between Mexico and the United States, it is easier for our agents to understand and work together to improve the quality of service delivered to your business. It is guaranteed that through this relationship our agents will have a native understanding of the language as well as cultural and historical important factors that ensure that your customers feel like they are speaking with someone back home.

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Reaching a Larger Market for a Better Price.

There is a considerably large population of Spanish speakers inside the United States, sharing a common background throughout Latin America. This allows our agents to communicate with them with the same ease as with English-speaking customers, closing the gap in language and cultural understanding on both fronts which in turn allows you to tap into a large customer pool that would remain dormant otherwise.

A large talent pool that keeps on giving

With such a long story of business interaction between Mexico and the United States it is evident that the pool of talent has grown considerably, this in turn ensures that we always have the right person for the right job. From this large pool, we pick the best of the best for the job, bringing in talent with years of experience in the fields your business competes in and in turn ensuring that the handover of your Call Center to Mexico is seamless.

An infrastructure that keeps on bettering itself.

Mexico has been investing and improving in its current infrastructure, by building better and cheaper telecommunication dedicated lines, getting up to date hardware and a price that makes growing ease, secure offices, and buildings that ensure that our agents are working in a safe environment while following the new government requirements for the new normality.

Working your time, your days.

Being inside the same time zones ensures that communication flows rapidly in real-time, avoiding having to work odd hours and setting up meeting at inconvenient times which may hinder key elements inside your business or delay the implementations of new processes when these are required.

Spearheading in the business.

At RedialBPO we talk about improving your business and ensuring that quality is always exceeded, by choosing only the best of the available talent pool, experience in the required compliance and quality standards of the United States, ensuring that these are followed accordingly, and providing feedback to all involved parties this ensures that we are keeping your business at the top of the game.

Peace of mind and more time for key items by a strong work ethic.

Outsourcing your Call Center Operation to Mexico helps free up key elements from your business, allowing them to attend to other critical factors while your operation continues to run smoothly through a strong work ethic, Mexicans are known to have a very strong sense of work, time and business in their culture which allows for great peace of mind when attending to critical business items and processes elsewhere in the process.

A strong leader in the BPO and Call Center in Mexico.

Mexico has been assisting businesses in the United States with Outsourcing their business needs seamlessly for decades, aside from the large pool of talent that is available in the country there is a large understanding of how businesses in the United States operate and work, this ensures that your Operation Call Center to Mexico is kept up to date, strong and competitive against other countries competing in the same market.

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With these key items, you can now evaluate and make the right decision for your business to improve its current competitiveness, scalability, and cost.

Delivering work from home
Cynthia

Delivering Work-at-Home from the Baja Nearshore

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Challenging times call for inventive measures.  Since the start of the coronavirus pandemic, Redial BPO has remained committed to delivering the best possible outcomes for our clients and their nearshore contact center needs.

That is what their consumers deserve.  But what became apparent very quickly was that if Redial BPO was going to ensure seamless delivery, we needed to develop a home-working solution—and fast!  

As one of the co-founders of this great company, I am happy to report that Redial BPO is now among the outsourcers in Mexico that can provide clients with a nearshore contact center option alongside work-at-home.  This process is new to us, but we are delighted at how it is progressing.

A commitment to quality and care.

To keep our agents safe and healthy, Redial BPO has instituted a series of protective measures in our call center in Tijuana. To complement these efforts, we decided to further this initiative by allowing agents to work from their homes.  

Of course, we first identified the campaigns that we felt comfortable sending home with our agents, in order to make certain that they would be appropriate.  We then started working with our supervisors to determine the team members that would be best suited to supporting customers from their homes.

Making certain that those agents who were allowed to deliver customer experience from home have appropriate workspaces in their residences was also taken into consideration on who was chosen.

We know How to Keep Information Secure

The next steps in this process involved developing the required legal paperwork for our agents to sign, in order to allow them to perform their duties from home as our full-time employees.  This covers their responsibilities, ensuring they take good care of Redial BPO property and technology from their homes.  

To be clear, there is no BYOD in our work-from-home program.  Redial BPO agents must use our hardware and software. This is vital for us to maintain the important standards that our clients expect.  

As well, Redial BPO’s work-at-home approach takes into account compliance and security.  Our IT leadership has developed a VPN that connects any home-based agent to our secure network, this ensures a secure back-and-forth flow of data through an encrypted channel. 

The use of the internet by our agents at home is filtered and monitored from our servers. Effectively, the experience for Redial BPO agents is identical at home is the same as if they were at our nearshore contact center in the heart of Tijuana.

Fortunately, our work-at-home offering goes beyond compliance and security. It also means a focus on agent management.  Redial BPO knows that our best asset is our team of dedicated brand representatives.

For this reason, we have instituted a variety of tools to make certain agents can connect with their teammates, managers or IT support.  We want anyone working from home to know that their virtual connection is as solid as if they were in the contact center. 

With our first wave of home-based employees up and running, things are off to a great start.

Being Part of the Solution

Redial BPO is proud to have a home-based solution. It is part of a broader and growing offering that we are bringing to the market.  This is the first step in providing our clients with a blended customer experience package that combines the best of our Baja nearshore contact center with the power of work-at-home agents.  The future of any great contact center company is in its power to adapt to new realities. 

While the coronavirus pandemic has been a challenge, this forced Redial BPO to move to the “Work From Home” model and drive another business model for our clients.  

At Redial BPO we believe in teamwork and we take pride in our agents for their excellent skills, motivated spirit, and performance-driven mindset. None of this that we do would be possible if it was not for our outstanding team. We understand the importance of teamwork and we thrive to deliver top quality service and outstanding customer satisfaction from our nearshore contact center in Tijuana, Mexico.

For more information about how we can help your business grow, humanize your brand, please get in touch with us and Get a Quote.

Cynthia

Why Outsource on The Baja?

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Outsourcing in the Baja by Distributing the responsibilities of a call center can be beneficial to the company in many ways when outsourcing to Baja. Your business only pays exactly as needed, which means they can fix the payment according to the number of people working on your campaign.

However, when some of the work is outsourced to Baja, the staff members can be utilized to manage the outsourced projects.

In such a case, the productivity of each staff member is improved, and this action also serves to improve other factors such as work output and experience of the staff.

The benefits of outsourcing to Baja are significant and not a threat. Read on to find the pros and cons of this kind of outsourcing To Baja:

We Make It Easier For You

No doubt, hiring remote agents significantly saves your time and costs. You don’t have to spend money on IT equipment since the remote agents already have their own. 

Cost-Effective

Additionally, renting or setting aside a room for a call center is unnecessary when you hire remote to outsource to Baja call center agents. These savings could then be put to more practical use, such as reinvestment or hiring better, experienced, and qualified agents. Small private companies would particularly benefit from these savings when outsourcing to Baja.

Don’t Have To Pay Them During Off-Season

The call center agents hired on a contractual basis will have to be paid anyway, resulting in a loss to the company. However, when outsourced to Baja, remote agents can be recruited on a pay-per-call basis or according to the schedule of peak and low seasons.

Outsourcing to Baja means that we will handle all of the hiring, training, scheduling, and managing of a team of call center agents. This can save your company time, money and headache.

Increase Business Continuity

When you outsource to Baja provider guarantees 100% uptime, has servers located in multiple geographic locations and has staff dedicated to making sure call quality is excellent, you can be more confident with their ability to meet your customer’s needs.

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