Neustar-Commissioned Study Shows Customer Experience Tied to Voice Channel

Rhea-AI Summary

New Study on Outbound Communications

A recent study by Neustar, commissioned by Forrester Consulting, highlights that 87% of business executives see phones as crucial for customer outreach. However, challenges like spam tagging and fraud concerns hinder communication. Key findings show that 40% use customer contact solutions for optimization, leading to improved customer retention (57%) and satisfaction (68%). Furthermore, 69% of users report increased revenues attributed to better efficiency and customer experiences.

Positive

• 40% of respondents are implementing customer contact solutions to optimize outbound strategies.
• 57% of solution adopters report improved customer retention.
• 68% experience better customer satisfaction.
• 69% of users see increased revenues through operational efficiency and customer loyalty.

Negative

• Over 90% of respondents indicate customers are not answering calls due to fraud and robocall concerns.
• Less than half are leveraging contact strategies for a multichannel approach.

Achieving business goals depends on effective multichannel outbound communications strategy

RESTON, Va.--(BUSINESS WIRE)-- A new study, The State of Outbound Communications in 2022, commissioned by Neustar, a TransUnion company and conducted by Forrester Consulting, found that respondents’ top business goals include a focus on improving the customer experience and that outbound communications are closely tied to achieving those goals.

While 87% of the business and IT executives surveyed across nine industries agree that the phone is the most important outbound contact channel, respondents face significant obstacles in reaching customers. These include spam tagging, mislabeling as ‘unknown caller’, inaccurate CRM data, fear of fraud, and communication channel siloes. Aligning the voice and digital channel strategy is more critical than ever.

“While many respondents said they’re confident that they can orchestrate an effective multichannel strategy, the majority admit their voice and digital channels are separate. Less than half are currently leveraging contact strategies to help them orchestrate a multichannel approach,” said Robert McKay, senior vice president at Neustar. “Those respondents that have adopted contact strategies that leverage behavioral insights of their customers and their calling habits have seen many benefits, including increased answer rates, improved right-party contacts, greater operational efficiency, an heightened customer experience and revenue growth.”

Top findings include:

• Nearly three in four survey respondents said that the type of message and priority were the determinants of the outbound communication strategy. Only 40% consider customer preferences and behavioral data analysis in channel selection, and 34% said their solution provides up-to-date contact information for clients.
• Over 90% of respondents said customers are not picking up their calls, in part, due to concerns of fraud, robocalls, and call spoofing.
• About 40% of respondents are turning to customer contact solutions to help them optimize their outbound strategy and reach key goals.
• Adopters of customer contact solutions report improved customer retention (57%) and better customer experience and customer satisfaction (68%).
• 62% of customer contact solution users saw better regulatory compliance results through their solution.
• These benefits translate into increased revenues, as reported by 69% of respondent users, through reduced costs, greater efficiency, and happier customers.

According to the study, rebuilding trust in outbound communication requires a focus on customer contact solutions that increase transparency and contact intelligence capabilities to create more customer-centric outbound contact strategies.

About the survey

In July 2022, Neustar commissioned Forrester Consulting to conduct a study on the current state of outbound contact channels and solutions. Forrester conducted an online survey with 455 US business and IT decision-makers responsible for customer outreach. Read the full study here.

About TransUnion (NYSE: TRU)

TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good®. A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences, and personal empowerment for hundreds of millions of people. https://www.transunion.com.

About Neustar

Neustar, Inc., a TransUnion company, is a leader in identity resolution providing the data and technology that enable trusted connections between companies and people at the moments that matter most. Neustar offers industry-leading solutions in marketing, risk and communications that responsibly connect data on people, devices and locations, continuously corroborated through billions of transactions. Learn how your company can benefit from the power of trusted connections. home.neustar.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005970/en/

Neustar Media Contact

FINN Partners

Rob Bitter

914-471-5615

Rob.bitter@finnpartners.com

Source: Neustar, Inc.

FAQ

What were the key findings of the outbound communications study related to TRU?

The study found that 87% of executives view phones as vital for outreach, but 90% struggle with customers not answering due to spam concerns.

How are customer contact solutions impacting TransUnion (TRU)?

User benefits include improved retention (57%), satisfaction (68%), and reported increased revenues (69%) through better operational efficiency.

What challenges do businesses face with outbound communications according to the TRU study?

Challenges include spam tagging, mislabeling, and fears of fraud, leading to lower customer engagement.