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10 reasons to optimize your customer data collection forms

10 reasons to optimize your customer data collection forms | EasySend blog
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6 minutes

As a business, you know that data is one of your most valuable assets. This is especially true for businesses that rely on customer data collection to fuel core business processes. Everything from customer acquisition to customer service in insurance and financial services relies on collecting customer data, so it's important that this data is collected accurately and efficiently. 

Despite its central place in the business, the data collection process is often poorly executed, resulting in major inefficiencies and customer frustration.

[.figure]over 70% [.figure]

[.emph]of consumers believe that companies should collaborate on their behalf, so they don't have to repeat information to different representatives.[.emph]

Research shows that customer data collection forms are often the source of customer frustration. A study by J.D. Power found that nearly 1 in 4 customers who had to re-enter their information when contacting customer service said they would take their business elsewhere. According to Zendesk, over 70% of consumers believe that companies should collaborate on their behalf, so they don't have to repeat information to different representatives.

Common issues with UX on web forms include:

  • Lengthy and complicated forms
  • Lack of clear instructions
  • Poorly designed input fields
  • Inadequate error messaging

All of these issues can be easily remedied with proper form optimization. Insurance companies can improve customer satisfaction, increase efficiency, and save money by taking the time to optimize customer data collection forms. Here are ten reasons why every insurance company needs to optimize its customer data collection forms:

1.Customer data is the backbone of your business

Customer data drives nearly every aspect of your business, from marketing to product development to customer service. If this data is inaccurate or difficult to collect, it will cause major problems.

Moreover, as customers increasingly demand personalized experiences, it's more important than ever to have accurate and up-to-date customer data. If you don't have the right data, you won't be able to deliver the right experience.

2.Collecting customer data is often a customer's first interaction with your company

This makes it even more important to have a well-designed customer data collection form. If the form is confusing or difficult to use, it will give customers a negative impression of your company.

3. Customer data collection forms are often used in high-pressure situations

Think about times when you've had to fill out a customer data collection form, such as when you're buying insurance or filing a claim. These are often high-pressure situations where customers are already feeling stressed. If the customer data collection form is not designed well, it will only add to their stress and frustration.

4.Optimized customer data collection forms lead to higher customer acquisition rates

Customer data collection forms that are optimized for usability are more likely to be completed by potential customers. If a customer is required to provide too much information, is not given clear instructions, or finds the form difficult to use, they are likely to abandon it altogether.

Improving form experience in insurance | EasySend blog

5.Optimized customer data collection forms lead to higher customer satisfaction

Happy customers = loyal customers. Optimizing customer data collection forms can help insurance companies to improve customer satisfaction by making it easier for customers to provide accurate information.

Customer data collection forms that are easy to use and provide a positive experience are more likely to result in satisfied customers. In fact, according to the J.D. Power study mentioned earlier, customers who had a positive experience with customer data collection were nearly twice as likely to be highly satisfied with their overall insurance company.

6.Optimized customer data collection forms lead to higher operational efficiency.

Time is money. By optimizing customer data collection forms, insurance companies can save time and resources that would otherwise be spent on correcting inaccurate customer data.

As customer data collection forms are completed more accurately, the need for customer service interventions decreases. This leads to increased operational efficiency and lower customer service costs.

Deflecting to self-service channels also allows representatives to handle more complex inquiries, further increasing operational efficiency and customer satisfaction.

7.Optimized customer collection forms lead to streamlined customer service

When customer data is collected accurately and stored properly, it can be used to streamline customer service. For example, if a customer calls to inquire about their policy, the customer service representative can easily pull up the relevant information and provide a quick and accurate response.

Eliminating data silos is also critical for streamlining customer service. If customer data is spread across different departments or systems, it will be more difficult to provide a coordinated and efficient customer service experience.

8.Optimized customer collection forms boost accuracy

On average, customer data forms are filled out correctly only 65% of the time. This means that for every 100 customer data collection forms, 35 will have to be corrected or completed by customer service. This is a huge waste of time and resources that could be avoided by optimizing customer data collection forms.

Accurate customer data is essential for insurance companies. Inaccurate customer data can lead to misspent resources, delays in processing claims, and even customer attrition. 

Customer data collection forms that are optimized for usability are more likely to be completed accurately. 

By optimizing customer data collection forms, insurance companies can minimize the chances of inaccurate customer data. This means that the customer's information will be collected the first time correctly, preventing any frustration or confusion down the line.

9. Optimized customer collection forms help your organization comply with regulations

Adhering to industry regulations is critical for insurance companies. Inaccurate customer data can lead to non-compliance and hefty fines.

Optimizing customer data collection forms can help insurance companies to avoid these compliance risks. By ensuring that customer data is collected accurately and stored securely, insurance companies can minimize the chances of non-compliance.

10.Optimized customer data collection forms improve the bottom line

There are many direct and indirect benefits of optimized customer data collection for insurance companies. These benefits include increased customer acquisition rates, higher customer satisfaction, improved operational efficiency, streamlined customer service, and boosted accuracy.

All of these factors lead to one thing: an improved bottom line.

At the end of the day, optimizing customer data collection forms is crucial for insurance companies. In doing so, they will save time and resources that would otherwise be wasted on correcting inaccurate customer data, they will boost customer satisfaction, and they will improve operational efficiency.

Gitit Greenberg
Gitit Greenberg

Gitit Greenberg is VP Marketing at EasySend. Gitit is a marketing leader with a demonstrated history of working in the internet industry. Skilled in B2B marketing, analytical skills, market research, management, teamwork, messaging, and startups, Gitit is responsible for EasySend's branding and messaging.