Independent Research Paper – Why Customers Won’t Take Your Call – Highlights Technology’s Role in Improving Customer Experience, Operational Goals
Fraud, spam, robocalls erode consumer trust; Neustar-commissioned study cites elements to rebuild trust, engagement in voice channel
SEPTEMBER 5, 2019 – STERLING, Va. – Neustar®, Inc., a global information services company and leader in identity resolution, commissioned a newly released study conducted by Forrester Consulting, delving into the impact of reduced customer engagement in the voice channel. With the rise of voice fraud and spam calls, as well as the persistence of robocalls, consumers are opting to ignore unrecognizable numbers – and even recognizable ones – as the chances of a call being legitimate appear to get smaller with each passing day. In “Why Customers Won’t Take Your Call,” Forrester Consulting found that while various businesses are grappling with outbound voice issues, early adopters of new technologies and solutions are seeing positive initial impacts on revenue, operations and the customer experience.
In the Neustar-commissioned Why Customers Won’t Take Your Call report, Forrester Consulting surveyed 319 business and technology decision makers in the U.S. across various industries: financial services, travel and hospitality, retail, collections, telecommunications and energy/utilities. Consistent among survey participants is the perceived link between outbound calling and top business goals: 84% say it is critical or important to revenue growth, while 81% believe it is critical or important to the customer experience.
As noted in the study, consumers have increasingly grown accustomed to initiating contact with businesses on their own terms, whether through digital or voice means. However, the outbound calling experience remains critical for businesses seeking to follow up with clients or prospects, provide important notifications or reminders, or simply build a relationship – all of which contribute to revenue growth and the customer experience.
“On the one hand, consumers appear to be taking note and becoming more vigilant about interactions that could expose them to fraud, including those via the voice channel,” said James Garvert, Neustar Senior Vice President and General Manager of CallerID Solutions. “On the other hand, that leaves legitimate businesses at a disadvantage, as now they need to convince customers that their calls are safe and worth taking. Beyond giving callers a reason to pick up, businesses must find ways to protect their numbers from being spoofed or used for fraudulent purposes.”
Forrester reports that 94% of survey respondents have gaps with their current call center technology and are unable to fully address voice channel challenges. “Beyond the issues of fraud, businesses are having a hard time reaching customers when and how they want to be reached,” explained Robert McKay, Neustar Senior Vice President and General Manager of Customer Identity and Risk Solutions. “Simply knowing the best time to call and the best number to use can make a difference in whether a customer answers. It can be difficult to keep up with changing preferences and habits, but that’s where technology may be able to help.”
“Why Customers Won’t Take Your Call” provides additional insights to issues in the voice channel, including:
- Adoption of new technology that offers trusted call solutions is slow. Although 78% of survey participants reported being interested in a trusted call solution that increases contact rates, adoption is slow. Only 14% have implemented or are expanding solutions, while 16% are in the piloting stage. Over a third have plans for the next twelve months, but nearly a third are interested but have no plans or are not interested in changing their current methods.
- Early adopters of new technology are seeing benefits. Among organizations that were surveyed, the realized or expected benefits of new technology adoption are a better customer experience (69%), higher answer rates (64%), improved customer retention (61%) and increased revenue (55%). Additionally, half are experiencing more operational efficiencies.
- Outbound voice challenges have cost businesses on multiple levels. Nearly 50% of survey respondents report that outbound voice challenges have led to decreased customer satisfaction and increased operational costs; close to 40% have reported a loss in productivity, revenue and the customer base.
- A comprehensive call solution would offer five distinct capabilities. Companies are seeking solutions that ensure accurate and reliable information is displayed on caller ID, up-to-date contact information, intelligence on best time for contact, intelligence on best number for contact, protection of the company number from blocking, spoofing and spam tagging.
To download the full study, visit: https://www.home.neustar/resources/whitepapers/why-customers-dont-trust-your-calls.
To register for the webinar where Neustar and Forrester will discuss these findings on October 1, 2019 at 2 p.m. EDT, click here.
Neustar is an information services and technology company and a leader in identity resolution providing
the data and technology that enables trusted connections between companies and people at the moments that matter most. Neustar offers industry-leading solutions in Marketing, Risk, Communications, Security
and Registry that responsibly connect data on people, devices and locations, continuously corroborated through billions of transactions. Neustar serves more than 8,000 clients worldwide, including 60 of the
Fortune 100. Learn how your company can benefit from the power of trusted connections here: https://www.home.neustar.
Sheila S. Blackwell