Note: This post is for any B2B finance brand or a direct customer in the finance industry. This post highlights some of the common challenges that a direct customer might face and how they can be solved using a finance portal.
For many years now, the finance industry has been undergoing a fundamental shift. Digital transformation is changing the way businesses and customers interact with one another.
Everything is shifting online, be it payments or communication. Innovations and trends are emerging in the industry. Businesses are doing their best to keep up with customers’ expectations and deliver seamless experiences.
Understanding your customers’ pain points will help you best cater to their requirements and give your business a competitive edge.
Critical areas, which, if kept unattended, can put off your customers
A. Customer support
You will agree that customer acquisition costs in finance are higher than in other industries. Did you know acquiring a customer can cost five times more than retaining existing customers?
So here, exceptional support to your customers is what helps build trust, foster loyalty, and bring in more business with word-of-mouth.
A common problem
A common area of support where most financial organizations struggle is quick response time. Customers want a solution to their problems in less time. They base their experience on how quickly they get a response.
As per CMO Council, the most important attribute of a good customer experience, according to the customers themselves, is a fast response time.
Given the nature of finance, customer queries tend to be more complex. Because of that, customer support agents have to deal with longer turnaround times and unsatisfied customers.
B2B finance businesses can leverage a finance portal with built-in support functionalities. With features like knowledge base, live chat, etc., you can provide quick support. For instance, with a knowledge base, customers can access articles to get all the information they need to solve their queries.
Know more about how a finance portal can benefit your finance business. Explore all the features that make a portal successful.