Best Sales Software for Banking and Finance

Aman Goel
21 Jan 2020
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The Rise of Digital

A lot of Online/Digital sales today is being driven by Outbound Call Centers. The idea is to get a customer lead through some Digital channel and subsequently, an agent calls the customer and helps them make a purchase. The purchase is typically driven by the following flow:
  • The customer is interested in a product.
  • He/she searches for the product online, typically on a search engine like Google.
  • They find relevant search results and open up the top few results.
  • They go through the websites of various solution providers and leave the contact details on the “Contact Us” or “Request Demo” form.
  • A lead is generated in the CRM which the Call Center Agents can see.
  • Call Center Agents then make a call to the customer and help them make a purchase.
  • The Agents usually explain the customer about various products available and guides them on the process of purchase.

There are 2 problems that the Agent is trying to solve here: Helping the customer decide the desired product. Usually, the decision-making process is complex and the customers require agent guidance for the same. Helping the customer complete the purchase process. Basically, the agent tries to help the customer fill a customer onboarding form and subsequently, complete the payment through the payment gateway.

The Difficulties with Digital

The first part is often easy since the agent can explain the benefits to the customer and help them compare various products. The difficulty happens in the latter part - onboarding journey. Take a look at the onboarding journey of a typical insurance product. Premium Paying Term - What does that mean? What’s the difference between Regular Pay, Single Pay, and Limited Pay? Increasing Policy Type - What is this all about? Why are you giving me an option of a 5% increase when I can get a 10% increase anyway? Life Cover - What is a Life Cover? How much Life Cover should I opt for? Is this tax-free? Complex fields like this make the whole onboarding journey difficult for the customer. End result?
Customer drops-off leading to a loss of revenue.
The customer fills the wrong information and later, the agent has to do multiple follow-ups to get the information corrected, leading to bad customer experience and delayed sale process. Customer is sold an undesired product leading to compliance issues. The New-age Digital Solution How do we solve this? The solution is relatively simple. If you observe the problem carefully, the whole issue is happening because of the fact that the agent is unable to see what the customer is filling on his/her form. They can only make a guess on the basis of what the customer is speaking on the call. Imagine if the agent could see in real-time what exactly the customer is filling? It would make the life of both, the agent and the customer so easy. How do we achieve this?

Co-browsing is the solution!

Co-browsing allows your agents to securely access the browser tab of the customer so that they can assist the customer during the onboarding journey. Co-browsing ensures that only the specific tab of the browser is shared and not the entire screen. This way, agent has highly restricted access which is limited only to your online form. Through Co-browsing, the agent can easily guide the customer and ensure that all the details are filled correctly and that there is no room of error. Whenever the customer fills something wrong, the agents can ask them to fix it/modify it on-the-spot. This not only reduces the iterations, but also reduces the customer onboarding time. Tell Me More about Co-browsing Here are some of the key features of Co-browsing: Customers don’t have to download anything on their laptop or mobile to access Co-browsing. All the sensitive information like account details, date of birth, etc., are masked and not shown to the agent. This ensures the best level of data security. Your website speed remains completely unaffected since Co-browsing happens after your website has completely loaded. The Co-browsing session remains restricted only to your website. The other browser tabs that may be active are not shared with the agent. The agent cannot fill any details on behalf of the customer. They can only guide. This way, it is ensured that the customer voluntarily fills the form and is not misguided by the agents.

Do I Really Need Co-browsing?

Here are 3 simple steps to check if you really need a Co-browsing solution:
  • Are you selling products online? You should have a pre-existing online customer journey.
  • Are your sales being driven by outbound call-center agents? Co-browsing requires a sales agent to interact with the customer?
  • Is your ticket size relatively high? For instance, are you selling things worth $200 or more? In that case, it makes sense for you to deploy sales agents to assist the customers in their buying journey. Is your onboarding form complex? For instance, if you are in Banking, Financial Services or Insurance, your onboarding journey would be long and complex and so, it would make sense for you to deploy this kind of solution.

Where do I find a Co-browsing solution?

You are at the right place! Sales AI Co-browsing is a powerful Co-browsing solution that would help your agents in boosting their sales efficiency, thereby leading better conversions for you. Request a demo today!