Win-win caller experiences
Client Business Challenge
A well-known bank needed to align its IVR with the business strategy to maximize "share of wallet" (checking, credit card, mortgage, etc.). The legacy IVR had a different customer service phone number for each type of account, with varying caller experiences for each phone number. These were powered by multiple legacy touchtone systems. With hundreds of millions of calls per year, the bank was missing out on a huge cross-selling opportunity.
Tellme Solution
Tellme's voice portal solution promised to transform the caller experience into a voice-driven, single-phone-call view of a customer's entire relationship with the bank. Tellme performed significant restructuring of the applications, creating a cross-account framework with task completion modules.
The solution leveraged dynamic personalization features on the Tellme platform to make the application more proactive. For example, the application delivers frequently-requested account information immediately after authentication, without requiring the caller to navigate menus. The entire call showcases superior audio through patented concatenated speech algorithms.
To encourage cross-selling for the bank's business goals, the Tellme Marketing Suite delivers relevant offers in the call flow based on the context of the task being performed and the content from the Personalization Data Store.
Results
The solution led to a 10% point IVR containment rate increase plus a dramatic reduction in average IVR call duration, driving a cost savings of millions per year.
Cross-sell response rate jumped, driving millions in new revenue in the first year. The seamless caller experience across the customer-bank relationship increased the number of accounts accessed and tasks per call, reducing call-backs by 25%.
