In the first High-Touch article, you may have noticed that call centers were missing. The Raddon Research Insights High-Touch research gave tremendous insight about call centers, but they really deserve their own feature. 

Figure 1: Percentage of respondents who have used a call center in the last year 

Even with their higher use of mobile devices for banking services, younger generations have used a call center within the last year

Source: Call Center Usage by Generational Segment “High-Touch,” Raddon Research Insights, 2024

Interactions with our accountholders aren’t always going to happen in a physical branch. They will also include a call center and conversations with any one of our experts on the phone or via chat.

Nearly half of consumers indicated they had interacted with their primary financial institution’s call center within the last year. Gen Z and Millennial consumers reported higher percentages of call center usage, but other generational segments are likely to call as well. ​

Call Centers Remain an Important Part of Delivery

Fifty-two percent of consumers in the research indicated they had interacted with a call center. Zoomers accounted for the largest group; 83 percent rated their interaction as “excellent.” Slightly above were both the Baby Boomers, at 87 percent, and Gen X, at 85 percent. 

Figure 2: Experience rating when using a call center, by primary financial institution segment

Call center customer service ratings are similar among large and small institutions

Source: “High-Touch,” Raddon Research Insights, 2024

But differences in satisfaction exist, depending on the primary financial institution. The highest dissatisfaction rate was 7 percent and came from online bank consumers. Institutions with retail branches fared much better, with “excellent” ratings ranging from 84 percent to 88 percent. 

People Skills Matter!

Consumers expressed positive sentiments regarding call center interactions. Regardless of the financial institution, consumers generally had a good experience when interacting with a call center employee. The lower ratings for online banks may be related to the need to have a more human experience when making that call.

Overall, 91 percent of consumers preferred a representative versus an automated experience when interacting with a call center. Zoomers and Millennials accept automated experiences, but of the 9 percent of consumers preferring them, 12 percent of Zoomers and Millennials segments say so. 

Figure 3: Automated versus human interaction

Consumers overwhelmingly still want that human experience when using a call center of their primary financial institution 

Source: “High-Touch,” Raddon Research Insights, 2024

Consider how you create experiences when the call center is involved. Take the time to reevaluate your call center metrics to be sure you focus your team on the right areas. While wait times need to be managed to acceptable levels, representatives need time to evaluate and solve the issue at hand. Be sure to allow time for cross-selling discussions. Are your call center metrics getting in the way of these tasks?

Consumers May Be Waiting for More Products and Services

As stated in the prior article, our accountholders need us to make the right recommendations, even when they are on the phone with us.

Let’s look at consumers who were asked to add a product – and did so! Only 25 percent of Millennials in a branch indicated they added a product when asked. This percentage increased to 30 percent for those asked by a call center representative.

Unfortunately, we still find that 1/5 of Zoomers said they were not asked and were left wanting more from us in their call center interactions. Their experience mirrors the in-branch results.

Figure 4: Percentage of consumers offered products or services from their financial institution’s call center, by generational segment

Gen Z is waiting for your employees to start the conversation about additional products and services

Source: “High-Touch,” Raddon Research Insights, 2024

Strategic Key Takeaways

It is time to stand out with accountholder service experience. How are we creating the experience when the call center is involved?

People skills matter: Take the time to reevaluate your call center metrics to be sure you focus your team on the right things. While wait times need to be managed to acceptable levels, representatives need time to evaluate and solve the issue at hand. But be sure to allow time for cross-selling discussions. Are your call center metrics getting in the way of these tasks?

A blended approach is best: Some consumers are willing to let technology be a part of the experience. But for more advanced needs, consumers indicated a desire to have a human interaction without lots of prompts and waiting. Be sure to create the right balance between types of interactions, with the goal of being easy to do business with.

Consumers may be waiting for new products: Consider refreshing representatives’ product knowledge and offering soft-skill training alongside sales training to deliver top-shelf service effectively and deepen relationships with accountholders through your call center. Call center representatives are unique, and with these measures, they can uncover consumers’ needs and ultimately ask for their business.