Boring. Irritating. But necessary.
The devil is in the detail, or so they say. But while spelling out the agreement between telecoms firms and their customers is a legal requirement and essential for establishing a healthy commercial relationship, it’s also a frustrating bottleneck in the digital experience.
The communication of terms & conditions to customers during the onboarding process can be so slow and tedious that customers abandon the sale. Not only does it disrupt business but it increases operational costs for service providers and is a customer experience blackspot. Getting it wrong has both legal and compliance consequences, and will bite you later down the line when customers ring to complain that your terms & conditions are unfair – hiking up care costs and fuelling churn.
But it doesn’t have to be this way.
One company that’s tackling the thorny issue of communicating T&Cs and getting informed consent in a fully digital environment is customer interaction platform Lightico.
“Both agents and customers dread the wasted time on the phone listening to long terms & conditions. Not only is it a deal-killer, it’s inefficient and can lead to costly compliance issues,” explains Lightico’s CEO Zviki Ben Ishay.
To address the issue, Lightico is rolling out a new offering – Instant Consent – that it says will revolutionise this part of the digital experience by smoothing the process of communicating terms & conditions to customers.
“By integrating Instant Terms & Conditions into their customer journey, service providers can speed up their processes significantly, reduce call handle time, increase their completion rates and, most importantly, provide an excellent customer experience,” Ben Ishay says.
Instant Consent replaces the tedious and inaccurate process of CSRs reading T&Cs with digital clickwrap, allowing service providers to fully digitise their entire customer journey. It’s targeted at telecoms service providers, financial institutions and insurance providers, with Lightico’s customers already enjoying the benefits.
Matthew Way, Head of Operations & Deliver at A1 Comms says Lightico’s technology has had an “incredible” impact on its operations, bottom line and customers. “By digitising the terms & conditions part of customer interactions, not only are we staying fully compliant but precious time is saved and our agents can focus on providing great customer service and increasing sales,” he says.
Lightico says its new offering accelerates time-to-agreement, improves completion rates, simplifies compliance and reduces risk while boosting operational efficiency by 20%, increasing revenue-per-call by 10% and improving NPS by 15%.
Instant Consent enables agents to send a text message that opens a secure room containing mobile-friendly terms to approve. Customers can then review and accept the terms & conditions with a single click – all in realtime without the need for agents to read out a lengthy script. This removes the risk of agent errors, simplifies auditing and improves customer experience by replacing agent scripts with instant, in-call legal acknowledgments of the terms & conditions from any mobile device using Lightico’s clickthrough agreements.
Lightico is a specialist in digital customer interactions that focuses on improving customer communications and engagement in the telecoms and financial services industries. It provides mobile-native, realtime digital technologies such as eSignatures, digital payment and realtime ID verification.
Customer onboarding is one of the most critical parts of customer communication, and therefore experience, but until now the focus has usually been on compliance not experience. By focusing on optimising the communication of terms & conditions, Lightico delivers a quadruple win for service providers in the form of full compliance at a reduced cost, while boosting customer satisfaction and creating a frictionless path to sale.