The Challenge:

One of the nation’s largest banks and global financial services powerhouse, with over 100,000 merchants processing credit card transactions, faced the challenge of retaining and growing a key segment of its merchant base. Due to their significant transaction volumes, approximately 5,000 merchants, contributing around $6.75 billion in charge revenue annually, were identified as potential targets for engagement. In a highly competitive and commoditized market, the company sought to stabilize and enhance relationships with these merchants, ensuring continued loyalty and growth.

The financial services company recognized the need to engage with a customer-centric and innovative partner to deliver actionable insights and drive growth. ResultsCX’s deep experience in specialized customer care and tailored operational solutions led to them being selected as the partner to help support this project that delivered astounding outcomes.

The Solution:

ResultsCX employed a strategic “Pod” approach, leveraging a one-to-one account management relationship model. The Pod approach involved dedicated contact center agents who served as account managers for the merchants. The contact center agents’ primary engagement objectives included the stabilization of relationships with existing merchants, validation and capture of merchant characteristics, education of merchants on processes and procedures and identification of marketing growth and cross-sell opportunities.

The engagement strategy was comprised of three key touchpoints:

• Outreach and Introduction: The Pod agent introduces themselves as the client’s services manager, gathering initial information about the merchant’s business
• Customer Insight Review: The agent reviews a customer insight report with the merchant to determine if actions were needed to retain, stabilize, or grow the account.
• Follow-up and Value-added Solutions: The agent follows up on the gathered information and offered tailored solutions to enhance the merchant’s experience.