- 3% increase in average revenue achieved per call (-1.5% without Co-Browsing)
- 17% increase on annual revenue growth (10% without Co-Browsing)
- 5% increase in agent utilisation (compared to -0.2%)
- 80% increase in First Call Resolution
- 7% reduction in Churn
Those were the results of a study on Co-Browsing commissioned by Aberdeen Group together with our Clients results. Yet, Co-Browsing is often overlooked in Customer Services where Live Chat is often selected as the only way to communicate with customers online. This provides the banks that do have Co-Browsing in place with an enormous advantage.
Understanding the different customer services tools and solutions is crucial to banks - whether retail, corporate or private - in order to remain competitive; however, is there more to Co-Browsing than keeping your NPS score high?
Whether you’re new to Customer Services, or a seasoned expert, you know that Customer Services tools need to cater to a variety of customer requirements, from the hyperconnected Gen Z through to Baby Boomers who may not be willing to adopt the latest tech advances in banking without support. However; one constant remains, you need to be able to communicate and effectively collaborate with your customers.
While a myriad of customer service queries and issues can be dealt with over Live Chat or a phone call, chances are, 40-50% of these will be too complex to solve without seeing the issue. Customer Service agents tend to deal with enormous stress as they try to understand the customer issue without seeing it. Co-Browsing eliminates these pain points and provides a solution tailored not only to the needs of you customers, but your agents as well.
What is Co-Browsing?
Collaborative Browsing, better known as Co-Browsing refers to the ability for your customer to share an application, console, or website with an agent and collaborate rather than simply view. Co-Browsing requires no downloads. This all occurs in real-time, so should an elderly customer need support to find a bank statement, sign up to a new insurance product or need hands-on support with an international transfer, an agent can immediately guide them through by highlighting, drawing on the screen and even help filling forms in for them to sign.
What is the benefit of Co-Browsing?
Complex customer queries and issues have been steadily increasing with the introduction of digital banking. A few years ago, banking customers were required to walk into a branch and have an expert support them from everything to international transfers, purchasing new banking products, investments and opening accounts. Due to rapidly closing branches, the COVID 19 Pandemic as well as the evolution of customer behaviour has created a new series of problems for banks: How to support customers online in the same way they were supported in-branch?
This is the benefit of Co-Browsing, it elevates your digital customer service and sales to mirror the in-branch experience. Instead of agents and sales reps going in blind and having to spend the majority of the call guessing what the customer is seeing, with frustrations on the customer side often steadily increasing, agents are able to achieve the following:
- Immediately identify the problem in the customers banking portal without seeing sensitive and confidential information
- Guide the customer through quick resolutions by highlighting, annotating and screen drawing
- Support elderly customers in filling in forms online
- Browsing either your website, or the rest of the web with your customer
Support your customer in transactions such as: Setting up direct debits, international transfers, stopping payments, identifying fraudulent payments, ordering a new bank card, opening a savings account in-app or online, purchasing products such as insurance and creating investments
Jane, a banking customer has logged on to her banking app via her mobile phone. She’s quite tech savvy, but she cannot find where to make international payments with IBAN. She logs onto Live Chat and the agent successfully managed to point her in the right direction; however, when Jane arrives on the correct page, she realises that she is going to need help with the first payment. The customer services agent asks her if she needs anything else, and Jane admits that she needs some help. The agent immediately offers to Co-Browse with Jane who agrees. Jane is guided by not only the agent’s voice-prompts, but also by the agent highlighting sections on her screen where input data is needed and circling various points she needs to pay special attention to. Jane inputs the information needed which is blacked-out for the agent and scrolls through the entire screen to double-check that everything is all right. The agent confirms that it is all correct and Jane confirms the transaction on her side.
How long would it have taken to help Jane had an agent not been able to Co-Browse? An estimated 70% longer.
Should you wish to learn more about Co-Browsing, or book a demo, simply follow the links below.