The International Customer Experience Awards 2022 took place last night and we are happy to announce we won silver in the Best Use of Insights and Feedback – Professional and Financial Services category! The winning project is a collaboration with Bpost (Belgian Post Group) who provide basic financial services to all citizens, including the most vulnerable. A big part of this process requires detecting citizens with digital disadvantages and guiding them to digital support solutions in collaboration with local organizations.
The main objective of the project was to map customer vulnerabilities and gain direction on where to focus Bpost efforts based on 3 criteria:
- Which vulnerabilities are the most common among the customer base
- Which vulnerabilities have the greatest potential to result in detriment for customers
- Which vulnerabilities have the greatest impact on two key metrics for the company – customer satisfaction and customer’s perception of how easy issues are to resolve
GemSeek processed nearly 60 000 total pieces of text from Bpost’s feedback and complaint systems within their Vulnerable Customer Experience (vCX) tool. It’s powered by a text analytics engine, which relies on a specific ontology/taxonomy to identify more than 30 specific vulnerability signals in the open-ended texts customers write in complaint forms and satisfaction surveys.
Why is vulnerability detection important to customers?
When it comes to customers with vulnerabilities, vulnerability detection focuses more on the societal impact and larger economic impact. For example, a lost package or an increased fee may not be such a big deal for the average customer, but for someone with low or erratic income, losing 100 euro worth of packages is a big financial hit. Bpost doesn’t measure impact in savings but rather with the amount of resources they have made available in the economy by supporting customers who have the fewest resources.
What’s the business impact of vulnerability detection?
Vulnerable customers are a gap that you cannot neglect. They could be up to 50% of your customer base and are, on average, 30% less satisfied. Customer vulnerability may be the main reason why some customers’ NPS never goes up. When deploying vpX you can:
- Identify vulnerability to allow preemptive actions and improve the overall experience of their customers
- Show inclusivity and minimize the risk against brand damage due to unfair and unequal treatment of customers
- Satisfy the requirements of increasing regulatory requirements in the UK and EU on fair treatment and inclusivity