Disrupting Debt Management

Cabot Logo

Cabot Financial, part of the Cabot Credit Management Group, is a debt-resolution firm based in the UK. Since becoming established in 1998, Cabot have sought to change the game of debt collection by recognising their debtors as customers and putting customer experience first.

The Challenge

As part of Cabot’s business strategy, a 5-year plan prioritises listening to customers as a way to streamline processes, improve efficiency, reduce customer complaints, and grow healthier, more productive relationships with their customers, leading to swifter debt resolution. The challenge was to get insightful qualitative feedback from customers who find themselves in a complex relationship with Cabot, and who are often in difficult circumstances.The team at BigEars recognised that the unique relationship Cabot has with its customers and the high importance of customer insight to the company’s overall strategy meant a tailored solution was required.

The Process

Intuitive dialogue design
BigEars worked with Cabot to design and refine a dialogue that matched their brand to get targeted feedback across several priority. The engagement experience was designed to be as easy as possible for the customer while gaining maximum insight.

Personalised SMS invitation
Encouraging customer engagement was a key priority of the project. To be considerate, BigEars implemented a two stage engagement opportunity. Text invites were sent directly to the customer’s mobile phone, greeting them by name. Customers were invited to trigger the automated phone survey when convenient for them.

Customer Radio
BigEars offered a tailored implementation of Customer Radio, their revolutionary and unique feedback tool, to spread customer insight across the business. All feedback was fed into Cabot's Customer Radio platform - where it could be listened to, measured, searched, and filtered as required... monitored through an interactive dashboard... and easily shared with Cabot’s team.

Real-time action alerts
Getting customer feedback to the right people quickly was a key requirement of the campaign. Custom criteria (based on scores and customer preferences) are used to determine which team members should receive an alert as well as what content it should feature.

“It really brings it home and reminds everyone regardless of their role, regardless of whether they’re customer-facing or not, regardless of whether they’re part of the executive team or someone on the phones, just how important it is that we remember our customers”

Deborah Green
Customer Operations Director

The Outcomes

Winner of the UK Customer Satisfaction Award from The Institute of Customer Service.

In a challenging customer relationship, where staff-empathy is crucial, the ability to share the actual voices of customers is key. The customer-voice now plays a big part in staff training, coaching, and performance recognition.

Consultants at Cabot are sent audio feedback directly to their inbox following an interaction. The best way to change staff behaviour is by hearing the customer speak directly.

Cabot established a customer rescue team to deal with unhappy and vulnerable customers. The email alerts contain information about the original interaction, customer status and case history. The alerts empower the team to act quickly and focus on resolution.

Cabot has applied customer insight to improve their service and business operations. Their average monthly effort rating has improved from 7.6 to 9.2 for the past 12 months.

By the simplicity and power of the customer voice we have considerably grown our desire to understand what our customers want from us.

Deborah Green
Customer Operations Director

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