Imagine a contact center agent answers a call from a customer who is struggling to make ends meet. This customer is frustrated, stressed, and asking for help or leniency with their bills.
This isn’t an unusual situation. A substantial percentage of customers—almost half—are individuals facing financial challenges.
These calls require a delicate balance of empathy, professionalism, and quick thinking. For contact center agents, having the right training and tools is vital to supporting these customers. The right combination of training and real-time technology enables contact center agents to effectively assist financially vulnerable customers with empathy, context, and actionable next steps.
In this post, we’ll explore a few strategies that contact center managers can implement to ensure their agents are well-prepared to assist financially vulnerable customers.
What is financial vulnerability, and why does it matter in the contact center?
Financial vulnerability is indicated by a customer calling about a financial issue—whether it’s a high bill, an overdue payment, or another financial hardship. This isn’t just a transactional interaction for an agent—it’s a moment that can influence customer loyalty, trust, and overall satisfaction. Recent studies indicate that a significant portion of customers contacting call centers are experiencing financial vulnerability. And a report by the Call Centre Management Association (CCMA) found that 20% of all individuals are currently struggling financially.
According to Don Davey, Creovai’s Senior Director of Customer Success, many customers signal that they're experiencing financial challenges in their contact center conversations by bringing up complaints about high bills, requests for payment extensions, or even more personal issues like bankruptcy or a recent job loss. He notes,
“There are a whole lot of different things that people might be dealing with, like bankruptcy, or a life event occurring. These situations might not be immediately obvious, but they’re critical to address with care.”
With up to half of all customer service calls potentially involving financially vulnerable customers, having an agent trained to handle these interactions effectively is important for your business. At Creovai, we provide software that helps call center agents prepare for and navigate complex customer interactions, ensuring that they can confidently manage these types of calls without delay or confusion.
1. Flag the common signs of financial vulnerability
The first step in supporting financially vulnerable customers is making sure agents can identify the indicators from a customer. These may include phrases like, “My bill is too high” or “I can’t afford this,” or even more subtle behavioral cues that indicate financial hardship. Don explains, “When we detect certain customer statements, like ‘my bill is too high,’ our real-time platform can present agents with a preferred response. It can also track whether the agent follows this guidance.”
Creovai’s real-time capabilities give agents on-the-spot guidance, ensuring that agents don’t need to scramble for a response. Contact centers can customize the system to recognize specific terminology or issues, making it easier for agents to provide the most appropriate solution quickly.
This proactive detection of key phrases allows agents to address the issue in real time, without the need to search for answers during the call or pause the call to research context on the customer’s issue via CRM.
2. Train agents in empathy-driven communication and de-escalation skills
No one likes dealing with difficult or emotional situations, but empathy is what sets great customer service apart. Successful contact center agents must be able to respond with understanding, patience, and compassion, guiding customers to a resolution while respecting their concerns or emotional state. “The experience for both sides—agent and customer—can be difficult if the agent is not confident or equipped with the right tools,” says Don. “Real-time guidance helps agents stay on track and handle the situation with the appropriate empathy and professionalism.”
By equipping agents with empathy-driven communication techniques and de-escalation strategies, you ensure that they can address difficult situations calmly and constructively Creovai’s real-time workflow platform can help guide agents through these difficult conversations with suggested next best actions, helping them stay calm and focused even in challenging situations.
3. Provide clear policies and flexible solutions
Financially vulnerable customers may need tailored solutions, such as payment extensions, fee reductions, or alternative plans. Offering personalized solutions like payment extensions or special assistance programs can help resolve financial issues while keeping customers happy. Don emphasizes the importance of giving agents the flexibility to act quickly:
“By providing real-time prompts, agents can be guided to offer the right payment options or services that best suit the customer's needs, ensuring a smooth experience for both the customer and the agent.”
Creovai’s Real-Time Agent Workflow makes it easier for agents to offer these flexible solutions immediately during the call. This reduces the need for time-consuming searches or hold periods, ensuring a smoother experience for the customer and a more efficient process for the call center.
4. Use conversation intelligence to identify best practices
Most contact center leaders know that one of the most powerful ways to help agents improve their performance is by analyzing past calls. Creovai Conversation Intelligence helps identify the best approaches for handling vulnerable customers by analyzing past interactions. Don points out, “Using machine learning and post-call analysis, we can identify the specific language and techniques that lead to positive outcomes. For example, what’s the best response when a customer mentions a high bill or expresses financial concerns?”
These insights can then be turned into real-time coaching prompts for agents. By highlighting the most successful phrases or actions, a powerful conversation intelligence platform ensures that agents use proven methods and historical context to handle vulnerable customers, reducing uncertainty and improving the customer experience.
5. Offer ongoing coaching and emotional support for agents
Supporting vulnerable customers can be emotionally taxing for agents. Ensuring that agents receive ongoing coaching and emotional support is essential for reducing burnout and creating a positive work environment. Don says, “The emotional strain on agents handling sensitive calls can contribute to high attrition rates. With real-time guidance and post-call insights, we help agents build confidence, reduce stress, and ensure they feel supported in their roles.”
By offering continuous coaching and providing emotional support, managers can help agents thrive in their roles. Creovai supports this with tools that allow managers to track agent performance, offer timely feedback, and ensure that agents have the resources they need to handle challenging calls effectively.
Conclusion
When call center agents are equipped with the right tools, training, and emotional support, they can handle even the most difficult calls with confidence and care. Supporting financially vulnerable customers is not just about providing a solution to them and moving on—it’s about building trust, showing empathy, and ensuring that every interaction is as positive as it is efficient.
By using Creovai’s Agent Workflow, Conversation Intelligence, and real-time coaching features, managers can empower their teams to provide exceptional support, even in the most challenging circumstances.
By using the tools and strategies outlined in this blog, call center managers can ensure that their agents are not only prepared to assist financially vulnerable customers, but also empowered to do so with confidence and care.
