Gary Jones, Managing Director of Verify, delves into the evolving landscape of field services in the financial and utility sectors, emphasizing a shift from traditional debt collection to a more nuanced approach focusing on customer support and data collection. He discusses the impact of recent socio-economic changes on customer vulnerability and the integration of technology in field services.
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Key Points
- Field services are transitioning from debt collection to information gathering and customer support.
- The focus has shifted towards addressing customer vulnerability and welfare issues.
- Recent challenges, including the pandemic and cost of living crisis, have intensified customer difficulties.
- Verify’s approach is to provide clients with detailed customer information for informed decision-making.
- The integration of technology, like audio recording and potential body-worn video, is highlighted.
- Data accuracy and effectiveness in field activities are paramount.
- Literacy challenges and a lack of digital savvy among some customers are significant concerns.
- Personalized contact is crucial due to varying customer circumstances.
- The utility sector remains a strong proponent of field visit processes.
- Verify operates under the umbrella of the Perch Group, utilizing their data science expertise.
- The importance of real-time information in creating effective customer strategies is emphasized.
- The potential for field services to intervene early in the customer engagement process is explored.
Key Statistics
- Up to 40% of customers visited were not familiar with QR codes.
- The reduction of ‘gone away’ rates to single digits through data cleansing.
- High engagement rates, sometimes up to 60-70%, on live debts when field visits are used.
- A significant proportion of customers have literacy issues or difficulties understanding digital technologies.
Key Take Aways
- The evolving role of field services is towards more empathetic customer engagement and support.
- Understanding and addressing customer vulnerability is becoming increasingly important.
- Data collection and analysis are key to enhancing field service effectiveness.
- Technology integration in field services must balance the human element.
- Personalized strategies are necessary due to diverse customer needs and challenges.
- The shift in field services reflects broader socio-economic changes affecting customers.
- Continual adaptation and responsiveness to customer circumstances are critical for success in field services.
- Collaboration between field agents and data analysts is essential to refine customer engagement strategies.
- The field services industry is increasingly recognizing the value of early intervention in customer issues.
- There is a growing need for field services to educate and assist customers in understanding digital tools.
- Literacy challenges and digital knowledge gaps among customers must be addressed for effective engagement.
- Field services are essential in bridging the gap between digital and personal customer interactions.
#Verify
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