Are you struggling to keep up with the competitors in your industry, or perhaps your company is simply looking to revamp its approach to customer service to wow your clients? Many things have changed for consumer-facing businesses, and it’s imperative that companies keep up with new trends if they are to thrive.
One thing, however, has changed the way companies must operate more than anything else - the customer experience (CX). The customer experience is all about retaining your existing customer base, and bringing in new customers through great service and word of mouth.
The American Express 2017 Customer Service Barometer found that US consumers are willing to spend 17 per cent more to do business with companies that deliver excellent service, while a Harvard Business Review report predicts that it’s anywhere from five to 25 times more expensive to acquire a new customer than it is to keep a current one.
Investing in CX is now essential, and it results in some huge benefits for companies which decide to do so. A recent report from the Temkin Group found that a moderate increase in customer experience generates an average revenue increase of $823 million over three years for a company with $1 billion in annual revenues.
Advantage Communications has listed four pillars of engagement that can completely transform your company’s approach to customer service:
1 - Technology
With an ever-growing percentage of your company’s customer base being millennials, or possibly even younger, the customer experience is now about providing an omnichannel experience with innovative technology that reduces the customer effort.
Omnichannel technology is the key to retention. Organizations with a poor omnichannel strategy retain just 33 per cent of customers, while brands with effective omnichannel engagement programmes keep 89 percent of customers, according to a study from the Aberdeen Group.
Companies across various industries are benefiting from the expertise that outsourced contact centers can provide, especially when it comes to innovative technologies such as artificial intelligence (AI), chatbots and communication channels. Many companies simply do not have the resources to successfully implement and manage these technologies.
2 - Real-time Data
Not only are technologies useful for customer-facing initiatives, but they are also key for empowering customer service representatives with real-time reporting and trend data that can transform your company’s customer service strategy.
Today’s customers demand immediate responses to their problems, and that calls for the need of real-time reporting. Real-time data will give the customer service representatives working for your company the knowledge they need to deal with a customer’s specific problem, quickly and easily - all while reducing customer effort.
Representatives will be trained with the most up-to-date problems that customers will be facing, and, with real-time access to a central database, they can see detailed information at the click of a button.
3 - Communication
Fast and efficient communication with the consumer is hugely important, but don’t fall into the trap of thinking this communication always has to be person-to-person conversations. Self-service is an effective method of reducing the customer effort and providing immediate issue resolution.
Through communication on your company’s website or social channel, you can give your customers access to information that empowers them to learn about solutions without the need of assistance from a live customer service representative.
4 - Partnerships
These different aspects of customer engagement create one necessity for your company - the need for a partnership with customer service experts that can transform the way you engage and deliver customer service.
Advantage Communication is leading the way in contact center technology. Through real-time data and advanced technology, such as AI, we can transform your customer service program and bring it into the 21st Century.
To learn more about how Advantage Communications can transform your company’s approach to customer service, contact us today.