
As an industry, we spend significant resources reactively analyzing and dissecting data to attempt to understand the best ways to contact consumers. We look at things like methods of communication, time of day, type of debt and a myriad of other factors. But has your organization ever looked at the consumer’s actual view, as opposed to what we think the data shows?
TCN has. In August 2024, for the 4th year in a row, they polled actual consumers. Here are the top three things you need to know about consumer attitudes, preferences, and expectations.
#1- Consumers want to speak to a person and talk to them right now.
Despite self-service options, consumers overwhelmingly prefer to speak to a live agent. But they are not willing to wait. More than 2/3 of those surveyed by TCN indicated they wouldn’t wait more than 10 minutes on hold, and most of that group indicated they wouldn’t even wait 5 minutes.
Further, survey responses indicated consumers don’t really care for online chats and self-service portals. However, there are exceptions. Consumers indicate they feel safer entering secure information themselves, and they overwhelmingly prefer email bill notifications over standard mail.
Does your contact center provide consumers with the ability to talk to an agent quickly? Is it set up to give consumers the fast interaction they want?
#2 Fast quality matters more than you may think.
The quality of an interaction and the speed of resolution matters- significantly. Nearly 2/3 of respondents indicated an agent’s ability to resolve a concern is their top priority. Skills such as empathy, being pleasant to talk to and even product/service knowledge have decreased in importance.
Notably, consumers don’t want to wait to talk to an expert or more knowledgeable agent. 1/3 of respondents’ biggest frustration when contacting a company is having to talk to several people to solve a problem. Coupled with a clear distaste for long hold times, it’s clear that consumers want speedy resolutions. The ability to resolve customer issues on the first contact is a critical benchmark for customer satisfaction.
Are your agents trained to handle consumer issues efficiently? If the first agent can’t resolve an issue, is your organization equipped to get consumers to the appropriate agent quickly?
#3 Generational divides aren’t as obvious as they may seem.
Most of us have heard that younger generations want more technology than older generations, and these stereotypes have a way of being worked into contact strategies. But are they accurate? Not always, according to TCN’s Survey. In fact, of those surveyed, more Gen Z’ers than Baby Boomers engage in conversations with agents. Interestingly, it wasn’t the Baby Boomers or Gen X-ers who were most likely to share negative experiences. That said, some things do fall along predictable generational lines- unsurprisingly, Gen Z’ers and Millennials do prefer mobile apps for notifications.
Does your contact strategy rely on research and data, or does it follow the path of generational stereotypes?
Read more about the preferences, expectations, and impact of Modern Consumers here.