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Did you know that retaining a customer is five times cheaper than acquiring a new one? Customer satisfaction is extremely vital to business success. Your business strategy for the year 2021 probably includes generating more leads, but it should also include retaining your current customers.
According to the World Bank, the 2020 recession has been one of the worst since the Great Depression, which was a decade-long economic slowdown. It is inevitable for businesses to avoid financial distress by using their limited resources efficiently. This requires shifting from a growth-oriented approach to one that is also significantly customer-oriented.
The findings of a recent study concluded that 84% customer-focused companies performed better than their peers. So, what drives customer satisfaction? Let us now discuss the three keys to customer satisfaction through better visibility.
Do your customers get back to your support teams with questions like ‘Can you give me an update on the project?’ or ‘What are the next steps to move things forward?’. That happens only when customer requests and projects go into a black hole without any knowledge of the status.
At first, you may consider this to be impossible because your organization has laid out metrics such as average first-response time, average handle time, etc… However, is that being tracked and monitored based on how it is benefiting your customer? If not, your customer request handling mechanism needs a complete transformation.
It is beneficial to find out if your customer support champions are providing useful responses and closing requests successfully or only redirecting customers just to meet their SLAs. Unfortunately, many businesses have suffered due to such antics by inefficient customer support teams which only frustrates customers and results in a poor customer experience.
· Businesses can prevent inefficient request management by deploying an effective service request management software that facilitates workflow automation, service request monitoring, and performance tracking.
· By equipping the middle-management with the right technologies to track, monitor, and manage requests. As doing this manually can be intimidating, automation based solutions such as StartingPoint have emerged.
· Minimizing customer support requests by tracking and addressing common customer queries by creating custom FAQs and making use of chatbots.
· Through the deployment of a single platform to streamline customer requests, store relevant files, and access them from a single interface. Doing this enables the automation of redundant tasks, which eventually makes customer request management convenient and hassle-free.
Businesses usually have a disproportionate number of customers and support executives. So, it is inevitable for businesses to prioritize requests based on customer relationship.
Let’s assume your business offers two subscription-based solutions — one is priced at $40 per month and the other at $250 per month. In this case, you need to prioritize resources to customers who have subscribed to the $250 plan. As most businesses offer priority customer support to those who subscribe to advanced plans, it's something that you promised.
Even if you didn’t, doing that can boost customer retention through a cost-effective support management strategy. Customer requests need to be assigned to team members based on their performance. Doing that is critical to give them that “little extra” which prevents them from exploring other options.
You need a system that segregates customers based on their spending and automatically tracks and assigns their requests to your best resources. The challenge here is to identify such customer support professionals based on their proficiency in specific skills. Identifying such team members can be quick and hassle-free by making use of a platform that converges service ticket management, workflow management, and performance monitoring.
Businesses must use advanced technologies to identify their customer’s pain points and to deliver a superior customer experience. If your business is yet to embrace technology, then you need to speed up before it's too late.
There’s no need for businesses to hire expert employees to do that because most of it can be outsourced to seasoned digital transformation experts. These professionals identify business challenges and help implement appropriate solutions. Doing this minimizes the burden on your customer support team, which lets them be a whole lot more productive.
Most businesses offer omnichannel support through emails, FAQs, Chatbots, live chat, and tele-support — a practice that is highly recommended. However, this makes issue resolution cumbersome due to the absence of a single platform that connects all these channels. As most businesses have separate customer support teams for voice and non-voice processes, there’s a disconnect.
As a result, your customers are forced to repeat their queries if they opt to communicate through multiple channels. For instance, if a customer calls your support team on a certain day to complete the mandatory verification, but emails relevant documents on the next day, the request would be handled by two different individuals from separate teams. So, there is a disconnect that can adversely impact customer satisfaction.
There are numerous factors that can complicate issue resolution but the most common one is the deployment of multiple SaaS solutions. On average, organizations with fewer than 500 employees make use of 123 SaaS applications. This makes workflow and service request management inefficient and the only way to overcome this issue is by implementing a comprehensive omnichannel solution that offers greater visibility into issue resolution and customer satisfaction. Implementation of such a solution paves the way for automated skill-based routing and tracking of service requests from various channels. So, no matter how the customer contacts your support team, you would be able to track and manage it from a single platform.
We are all aware of the pandemic-induced recession and its repercussions on businesses in the previous year. So, for most businesses, the current year is one of hope and recovery — a feat that can only be achieved through cost reduction and profit maximization. However, this needs to be done without lowering customer satisfaction, which is only possible through the deployment of technologies that provide deeper visibility.
