Increased Sales for Leading Financial Services Company

Every customer interaction is a sale waiting to happen. For this financial services leader, the challenge was shifting the mindset of its customer service representatives to become more sales focused by consistently up-selling and cross-selling across product lines without negatively impacting service levels.

Learn how this company was able to spend less and get better with Knowlagent, optimizing frontline performance faster and more affordably than every before:

Results at a Glance

• Groups using Knowlagent performed 12% better in Balance Transfers and more than 30% better in Rewards Enrollment, as compared to the Control Groups.
• Within 60 days after embarking on the pilot program, the Fortune 50 customer saw double-digit improvements in both initiatives.
• Agents using Knowlagent were able to complete six additional training hours every month without negatively impacting service levels.

Key Initiative
The company teamed with Knowlagent to create a training program that emphasized sales, while maintaining the highest level of customer service performance. The focus was on two specific services: Balance Transfers and Rewards Enrollment. As part of the pilot program, Knowlagent guaranteed the customer a 7% improvement in Balance Transfers and a 5% improvement in Rewards Enrollment.

Solution
The 60-day Knowlagent Training™ pilot program measured sales performance of both Balance Transfers and Rewards Enrollment between a Treatment Group and a Control Group. A total of 24 15-minute learning breaks were designed to improve selling skills through the use of a proven call model. The training was delivered to agent desktops three times per week during downtimes in call volume. A daily scorecard was also pushed to both agents and supervisors, highlighting performance against key sales metrics to increase overall accountability. For the first time, agents received individualized content on a regular basis and were able to track their own progress.

Impact
Just six weeks into the pilot, both Treatment Groups had surpassed their initial goals: The Balance Transfers team performed 12% better then the Control Group and the Rewards Enrollment team performed more than 30% better than the Control Group. In addition to increased sales for both products, the company saw widespread user adoption of the Knowlagent on-demand tools. Agents using Knowlagent Training were able to complete six additional training hours every month without negatively impacting service levels. The success of the pilot paved the way for a full rollout of the Knowlagent Training solution and double-digit improvements in both agent sales and overall performance.