Little details within the customer experience framework can make or break a mortgage business today. Customers who feel happy and comfortable when doing business will not hesitate to write a five-star review. It works both ways; customers who experience a less-than-perfect mortgage process will share negative reviews, too.
The Changing Landscape
The mortgage industry’s focus on customer service followed the birth of the Internet; consumers have access to many more mortgage companies than they did in the days of brick and mortar-only mortgage lenders. In addition, physical location or income bracket do not limit customers. If borrowers cannot afford a property in their hometown market, they can identify more affordable needs and purchase an investment property. This elimination of regional boundaries favors the customers more than the lenders; the competition is broader, and memorable customer experiences will lead to more reviews online.
Why Memorable Customer Experience Matters
Customer experience is important because it’s the only way to truly understand your customers’ needs, and in today’s service-based and customer-centric market, delivering services according to customer expectations is critical. Delivering memorable customer experiences and services within the framework of expectations and industry best practices will lead to higher reviews, more referrals, and more business. Without an exceptional customer experience, a mortgage lender won’t last long in today’s market.
AI-Powered Support Automation
Imagine a world where customers can access the expertise of your entire company to answer any question, and your team can review the interactions with your content by topic. Imagine automating repetitive tasks and building solutions for business challenges with AI-powered support software. That’s Capacity.
KPIs and Scoring
Customer Effort Score (CES) is a customer-centered KPI that shows how your service affects your customers. For example, a score out of 100 means there’s no feedback from users, and vice versa – above 75 suggests good satisfaction with what was delivered. In contrast, below 25 points mean something went wrong regarding those expectations set by providers or clients. Paying attention to this number can help improve future interactions, prompt follow-ups for conflict resolution, and let customers know you care about their experiences.
Predictive Analytics
With AI-driven predictive analytics, statistical techniques and machine learning are used to make assumptions based on purchase patterns for organizations to gain an edge over their competitors by predicting what a customer needs before they even ask.
In the realm of big data, organizations that make use of predictive analytics will become the leaders of tomorrow. With AI-driven predictive analytics, statistical techniques and machine learning are used to make assumptions based on purchase patterns.
Intelligent Routing
When a customer has an inquiry, suggestion, or request, they want to be routed to the right agent right away. AI-driven intelligent routing uses customer data and historical transactions to automate tickets and assign the task to the correct customer support representative.
Intelligence and automation are two of the most powerful tools we have in our arsenal. For example, Capacity’s support automation platform uses intelligent routing and customer data to automate ticket submissions, incorporating historical data to help identify the best support options.
By providing a centralized knowledge repository, Capacity can share the latest information with anyone on your team, anywhere, anytime. That means no one else needs to spend time managing or identifying the most helpful content – there’s a guided path to a simple answer with a complex question.
Live Chat
According to Customer Think, From 2015 to 2018, the use of live chat grew by nearly 400 percent. “41 percent of customers said they trust a brand that offers live chat on their website, and this trust translates to sales – 51 percent of customers said they are more likely to purchase from a company that offers live chat.”
Live chat in customer support has been gaining momentum as an alternative to email and phone. With its simple interface, you can quickly get help from your customers without having them download any software onto their computer or transfer files across the Internet which may take hours depending on how large it is. It’s become one of those features that seem like no big deal at first glance, but it’s undeniably inconvenient when the chat feature is missing from a website.
Self-Service Portals
Along with live chat options, self-service portals are gaining in popularity and providing even more options for a memorable customer experience. Consumers prefer to find answers themselves instead of waiting on hold on a customer service phone call or chat line, and the days of sending emails back and forth are becoming a distant memory. Self-service portals can show up in the form of FAQ pages, a Knowledge Base, or Guided Conversations.
Support for Customer Experience Teams
For customer experience teams, most of the day is spent answering the same questions, over and over. Implementing a combination of chatbots with functionality to send customers to LiveChat and interactive tools can ensure customer experience team members are working on issues requiring human assistance.
An automation platform like Capacity helps customer experience teams focus on strategic goals while enabling the latest technology to deliver excellent customer service with automated responses and intelligence built right into the chat features of your website.