How Conversions Impact Your Contact Center and Members

June 5, 2019

• The impact of conversions on your contact center and members

• Do’s and don’ts for conversion preparedness based on firsthand experiences

• Proven strategies to avoid pitfalls and ensure a world-class member experience

Today’s Presentation Will Cover:

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Janet StheleSales Engineer,Contact Center Solutions

Presenters

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Ron HasbrookeBusiness Development Executive, Contact Center Solutions

Terri PanhansVice President,Contact Center Solutions

Steve NikitasSenior Strategy Director,Marketing Solutions

The Current “Member Expectation” Landscape

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● Member expectations are at an all-time high

● Growing desire from members for omnichannel engagement

● Growing investments in newdigital technologies to retainexisting members and increase institutional share of wallet

● Upgrades to the user experience happen continuously

“I expect a seamless

experience across all channels.”

Why New Expectations? Because Members Are In Charge

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C O N V E N I E N C EA N D S P E E D

P E R S O N A L I Z E D AT T E N T I O N

I M M E D I AT E , R E S P O N S I V E S E R V I C E

C O N S I S T E N T E X P E R I E N C E S

“Be there with the solutions I need, when I need them.”

“Treat me like an individual, not a number.”

“Make it easy for me to engage

with you.”

“Member experience is proving to be the onlytruly durable competitive advantage.”

JAKE SOROFMAN

RESEARCH VP, GARTNER

We are undoubtedly in an experience economy

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What This Means for Credit Unions –“The Conversion Momentum”

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Institutionsare embarking

on a variety of enterprise conversions

Core Platform Conversions

Mergers and Acquisitions

Online and Mobile Banking Conversions

Despite Shift to Digital, Phone is #1 for Issue Resolution

8 Sources: 1. McKinsey & Company, Retail Banking Insights, Number 1, February 2014, The Future of U.S. Retail Banking Distribution

1% 4%

44%

100%99% 96%

56%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Balance Check Funds Transfer Fee Inquiries Issue Resolution

Online

Contact Center

The Conversion Opportunity for the Contact Center

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● Change is necessary, but never easy. When faced with change, initially the challenge of navigating the new experience overshadows the benefits.

● Turn the saturation of a conversion event into an opportunity to enhance and expand relationships with members and strengthen loyalty.

High-Impact Becomes

High-Value

$$$

How Conversions Impact the Contact Center

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Prepare for a Spike in Call Volume + Handle Time

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Disruptions in Member Service Risk Conversion Success

● In the first week of a conversion, up to 30% of online banking userswill typically call, potentially doubling or even tripling call volume1

● Calls are 2-3 times longer during conversions, negatively affectingwait times and threatening member retention2

1 Harland Clarke data 20182 Ibid.

200-300%INCREASE

Proprietary and Confidential12

Inbound Volume Impacts – What to Expect

2300 2200

1200

23%22%

12%

0%

5%

10%

15%

20%

25%

0

500

1000

1500

2000

2500

Week 1 Week 2 Week 3

S A M P L E V O L U M E I M PA C T S - 10,000 accounts

# of calls % of accounts

Cal

ls p

er

10

,00

0 a

cco

un

ts

Source: Harland Clarke data 2018

Launch Week Volume Impacts - Crucial First 3-5 days

13 Proprietary and Confidential

598 534 523

330 315

0%

5%

10%

15%

20%

25%

30%

0

100

200

300

400

500

600

700

Day 1 Wk 1 Day 2 Wk 1 Day 3 Wk 1 Day 4 Wk 1 Day 5 Wk 1

S A M P L E V O L U M E I M PA C T S - 10,000 accounts

# of calls % of weekly

Cal

ls p

er

10

,00

0 a

cco

un

ts

Source: Harland Clarke data 2018

Average Handle Time — Weekly

Proprietary and Confidential14

111%100% = 276 seconds

88%

0

60

120

180

240

300

360

WEEK 1 WEEK 2 WEEK 3

AVERAGE HANDLE TIME - % OF AVERAGE (=276 SECS)A

HT

in S

eco

nd

s

Source: Harland Clarke data 2018

Average Handle Time – Launch Week

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126%123%

119%

100% = 276 secs

90%

80%

85%

90%

95%

100%

105%

110%

115%

120%

125%

130%

WK 1 DAY 1 WK 1 DAY 2 WK 1 DAY 3 WK 1 DAY 4 WK 1 DAY 5

AVERAGE HANDLE TIME - % OF AVERAGE (=276 SECS)

Proprietary and ConfidentialSource: Harland Clarke data 2018

Lessons from Digital Conversions

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Staffing Best Practices

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Big increases in volumes and handle times create big swings in staffing needs

● Expand more than hours

● Staff for shrinkage and attrition

● Plan PTO blackouts

● Expect overtime

● Don’t over rely on branch staff

● Evaluate the impact of training on staffing requirements

A Good Project Plan

Level Up in Staff and Technology

Approach Training with Membership in Mind

Test….Then Test Again

Good Communication is Critical

Be “Hands On” During Go-Live Day

Know the “Can’t Miss” Elements

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A good plan helps guide resourceand budget requirements

● Have clear and aspirational goals

● Start early and forecast well

● Key in on first-time login procedures

● Utilize project management toolsand skills

● Secure an engaged executive sponsor

● Involve partners and seek outside input

Increase your staff and improveyour systems

● Look at capacity for peak intervals(staff and phone lines)

● Don’t forget transfer volumes

● Leverage the IVR in your planning

● Don’t neglect the other channels (email, text, chat and social media)

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A Good Project Plan

Level Up Staff and Systems

Approach Training with Membership in Mind

Test….Then Test Again

Good Communication is Critical

Be “Hands On” During Go-Live Day

Know the “Can’t Miss” Elements

Quality assurance begins with a quality training plan

● Understand impact from member perspective

● Frontline staff needs to be comfortable with the new technology

● Include role plays in training curriculum

● Utilize quick reference guides and/or learning management systems

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A Good Project Plan

Level Up Staff and Systems

Approach Training with theMember in Mind

Test….Then Test Again

Good Communication is Critical

Be “Hands On” During Go-Live Day

Know the “Can’t Miss” Elements

An often overlooked but critical step for preparedness

● Allocate the time

● Focus on unique items and features

● Loan payment options and joint account impacts

● Include as many employees as possible

● Make the new mobile icon easyto distinguish

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A Good Project Plan

Level Up Staff and Systems

Approach Training with Membership in Mind

Test …Then Test Again

Good Communication is Critical

Be “Hands On” During Go-Live Day

Know the “Can’t Miss” Elements

It’s impossible to over communicate

● Start early on cleaning membercontact information

● Communicate early and often

● Don’t communicate the date

● Utilize all channels in your communications plan

● Identify key segments and make outbound calls before the conversion

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A Good Project Plan

Level Up Staff and Systems

Approach Training with Membership in Mind

Test …Then Test Again

Good Communication Is Critical

Be “Hands On” During Go-Live Day

Know the “Can’t Miss” Elements

Be ready for kick-off

● Know the start time

● Utilize a war room

● Instant message (IM)

● Extra floaters on the floor

● Flags for help

● Food and fun

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A Good Project Plan

Level Up Staff and Systems

Approach Training with Membership in Mind

Test …Then Test Again

Good Communication is Critical

Be “Hands On” During Go-Live Day

Know the “Can’t Miss” Elements

Turning change into opportunity

● Go for “plus one” on every call

● Reinforce to staff and membersthe positives of change

● Learn from success … and failure

● Consider outsourcing

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A Good Project Plan

Level Up Staff and Systems

Approach Training with Membership in Mind

Test …Then Test Again

Good Communication is Critical

Be “Hands On” During Go-Live Day

Know the “Can’t Miss” Elements

Questions

25

Thank You

CNTCR-0299-0126