There are many benefits to proactively identifying and supporting vulnerable customers. Tailoring business services and communications to account for the growing intersection of vulnerabilities across the UK not only counters the isolation that many face, it can also improve customer satisfaction, loyalty and retention.
Proactivity
Disengagement is a common symptom of vulnerability. Struggling customers are much less likely to reach out, which means businesses need to reach out first – more than that, they need to use their customer data to help them reach out in the right way. Reviewing communications around missed payments and defaults, for example, is an opportunity to reduce potential intimidation and increase support. What’s more, having the right level of understanding, gleaned from data analysis, can help navigate challenging conversations with greater sensitivity and the right language.
Data can also inform a multi-channel approach that enables you to reach the vulnerable in ways that feel less challenging. We know that 75% of people with mental health problems have difficulty with at least one form of communication, for example, and often it’s the telephone. Adopting what we call an ‘outreach’ approach, using partners to help you identify vulnerable audiences, gives you a better chance of making contact with those who might otherwise slip through the net. Once you’ve made contact, however, it’s essential that your customer-facing teams are trained well.
People
Frontline staff and customer service teams are a source of insight, so businesses would do well to give serious thought to populating their teams with the right people to connect with vulnerable customers. Training in vulnerability awareness can also provide customer facing teams with an understanding of ‘a day in the life’ of a vulnerable customer. This can inform awareness, empathy and the skills to handle difficult conversations.
Where training meets its limitations, it’s a good idea to implement a triage system that gives frontline teams immediate access to specialist assistance when needed. It’s possible to build a community network with carer and counselling services, debt agencies and mental health charities in support of both your people and your customers, as it enables teams to direct those in need of extra support. What’s more, if you’re transparent about the constraints of what you can offer, this could strengthen waning customer trust.
Partnership
If you don’t have the necessary expertise in house, partner with organisations that do. The companies that succeed in reaching and engaging vulnerable customers do so in partnership with advising agencies and organisations. While charities can support your vulnerability awareness training and debt agencies can offer advice, there are other partnerships worth exploring that can help deliver holistic solutions. Consulting partners can help businesses reach vulnerable audiences in meaningful and constructive ways. The right partners can work with you to translate this insight into imaginative strategies.
