Telemarketing in the financial services industry is highly regulated and it’s essential that all advisors adhere to and remain compliant with these regulations at all times.
Does your company know exactly which advisors in your telesales team might be putting your business’ “health” at risk?
If the answer is no, Digicall has found a solution that can change the way your contact centre operates. Find out how their business intelligence (BI) tools were applied to prevent non-compliant or fraudulent telesales activities in contact centres, so that they can help yours get back into tip-top shape.
Digicall, an expert BPO provider, which services blue-chip clientele in the banking, insurance and retail sectors, identified a potential risk in one particular client’s call centre. The unit was producing an unusual uptick in sales and advisors’ commissions. Although it would have been tempting to believe that their advisors were exceptional salespeople, Digicall was enlisted because the client suspected that some members of the team were making non-compliant sales calls.
However, it was not feasible for the client to engage in ongoing QA activities for all advisors due to the cost and time implications associated with the exercise.
A new solution was required to ensure that advisors weren’t engaging in non-compliant sales activities and putting Digicall’s clients’ business “health” at risk.
In response, Digicall’s Analytics & BI division was enlisted to assist in identifying the source of the problem. The Analytics & BI team immediately suggested the use of a BI tool to analyse anomalies in the information collected.
The Analytics & BI team spent some time with the client’s telesales unit to better understand the business and soon identified four potential risk indicators:
1. Sales calls that were too short
2. Sales made in rapid succession
3. Repeat calls to the same number
4. Changes to data made on the dialler by the advisor.
Digicall then identified the specific sales calls that fell into the four categories. The client’s QA team performed a targeted campaign and listened to these specific calls as opposed to the random samples that they had been monitoring previously.
The results were staggering. The unit identified a small group of advisors who had made non–compliant sales calls. The advisors were addressed and were subsequently dismissed. The message to the sales floor was clear; advisors knew that they could no longer engage in unsanctioned telesales techniques. The number of sales decreased initially but soon reached previous levels, except, these were all compliant with regulations and the client’s ethos of integrity.
If you are interested to engage on a “telesales health audit” that can improve the wellbeing of your company’s marketing activities, contact Digicall on https://digicallgroup.co.za/services/analytics-bi/. You’ve got nothing to lose and only healthy, actionable insights to gain.