Three Things To Learn From Fraudsters

They are polite, courteous and seem trustworthy. You would be clueless about their real intentions till your realize your bank account is empty or has been fleeced of thousands of rupees. We as customers expect to be treated as royalty and they treat us just the way we want them to. Fraudsters, whether they are calling for online net banking/debit card information or whether they are luring you through irresistible offers, know how to entice a customer into their trap. They make sure you believe in them and wouldn’t doubt them for a second.

Frauds committed have skyrocketed worldwide. There has been a 20% increase in e-commerce frauds itself. We often get calls from anonymous numbers claiming to be representatives from bank asking us for our credit card number and pin saying our cards will be blocked otherwise. It is not uncommon to fall for these frauds.

With frauds increasing worldwide, there are several good things CX leaders can learn from these fraudsters. You can get an insight on how you can make sure your customers’ needs and wants are taken care of. CX leaders can learn the tactics they use and how comfortable they make their customers feel to provide goodness to customers in form of better customer experience.

So here are 3 qualities one can pick up from Fraudsters to treat their customers better and enhance customer experience:

Diligent, Patient and Composed

Fraudsters’ persistence and shrewdness are quite impressive. They endure every pain to collect information about the customers they are trying to target. They are very careful and attentive when they are talking to their target and do extensive research beforehand. Companies can close a deal on a client much more easily if they are as diligent as these fraudsters. Paying close attention to the customers interests and interacting with them carefully can help eCommerce companies deal with them better. Diligence and patience should be set as values for call centers to deal with their clients.

Fraudsters tend to be much more polite than regular customer care employees and much more understanding. They behave extremely patient and composed and you will never suspect their behavior. The customer gets flattered and rapt with the attention and patience these fraudsters display that he unsuspectingly gives out confidential information or falls for their fake offers. Such composure and patience if displayed by e-commerce customer care will make customer’s experience seamless. Many a times, customer support employees lose their cool while dealing with a difficult customer. A Big Insurance COmpany in the UK while dealing with a troubled customer gave the following reply “It’s not our fault that you have this problem — it’s yours.” This casts a bad impression of the company on the customer. Therefore, customer support can take a lesson from these fraudsters to deal with customers in a such a way that they put their full trust in them have a good experience.

Knowing the Customer

The most important thing to deal with customers is to know them. Fraudsters are aware of their target audience and before you receive a call or mail from them, they have already done extensive research about you and your interests. For example, when you browse through online shopping sites, these fraudsters tap your web history to find out the kind of products you have been looking for and come up with offers related to those products. Another example we can take is when we get calls from fraudsters regarding our credit card details, they already know which bank we have our bank accounts in. These instances show the in-depth research they have done. Knowing your customer’s needs and realizing beforehand what problems bother them and how they feel about certain situations makes them feel extra special. That is exactly what Fraudsters aim at: making customers believe in them. E-commerce companies can achieve this through customer segmentation. They can implement deep analytics and segment their customers into different categories like the ones who get panicky when they don’t receive their products on time, the ones who place many orders a week and don’t get bothered much about late delivery, etc.

Make an Effort

We often receive long emails asking for money for some person in trouble or in need, promising we’ll get repaid ten times the amount if we help. We also receive constant emails about alluring offers that are too tempting to suspect. If you are not in a financially stable position, they will come up with emails about lotteries and quick money. In this manner, Fraudsters try to keep in touch with their customers and once a customer falls prey, they’ll keep engaging you to take their offer. Not only do Fraudsters keep in touch through mail and calls, some even make the effort to meet you in person. They try to meet you and lure you into giving out personal information. They feign confidence and seem so amiable; one is likely to fall into their trap. Their basic objective is to try and understand what you are looking for. They understand customers’ needs and come up with offers the customer will fall for.

The industry needs to take a cue from these fraudsters and understand the customer’s’ needs and wants. Their offerings should be in sync with the customers’ needs. For example, if an e-commerce company is offering very fast delivery of products but what the customer actually wants in good product quality, the offerings of the company go in waste. E-commerce companies can gauge customer needs through various kinds of customer surveys and make offerings accordingly. Surveys like Customer Effort Score(CES) survey which can measure customer service satisfaction with a single question and Net Promoter Score(NPS) survey which can calculate the loyalty of a firm’s customer relationships can provide useful insights about the customer’s experience with the firm. Similar surveys can help companies understand customer’s needs better and treat them accordingly.

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