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How to Save Money on Remarkable Customer Experiences

April 17, 2019 | Blog

 

Remarkable experiences lead to measurable results. It’s true! PwC found consumers will pay 8% more for phone plans, 9% more for cable subscriptions, and 14% more for hotel stays if they receive a positive experience. That’s great news for your profits, but we know you can expand margins further.

 

The right blend of technologies, agents, and support strategies can boost profits without hurting your premium experience. Here’s how you can maintain high quality service while reducing customer support costs.

 

Hire the Right People from the Start

Turnover hurts any business. What many organizations don’t realize is the full extent of the damage. In a CareerBuilder survey, companies reported losing an average of $14,900 for every bad hire. For contact center positions, where agent turnover for the average center is between 30% and 45%, those expenses add up. That’s why your customer support agents need proper sourcing and vetting from the start.

 

How do you ensure lower attrition rates? With the right contact center agent profile. We recommend starting with the fundamentals by screening for adaptability and attention to detail. Customers throw plenty of curveballs and your agents need to make informed, split second decisions.

 

Brand values are equally important. Customer support agents who comprehend your brand promise, purpose, and differentiators are better at delivering results faster and with a higher First Call Resolution (FCR). This saves on the cost of service by making agents more effective. If you work with an outsourced contact center that already prioritizes effective customer support qualities and your values, then you can save more on training, onboarding, and scaling costs.

 

Integrate Chat Bots into Your Service

New technology comes with a promise of better, faster, and more economical performance. Chat bots can deliver those results – but only under narrow circumstances. Right now, chat bots are useful for guiding consumers to the right department or helping them check up on the status of purchases or support tickets. For more complex interactions, consumers find bots to be disappointing.

 

The reason being? The language processing capabilities of virtual customer assistants are still limited. Consumers prefer a human touch and flexibility. In fact, 65% of consumers would rather talk with an actual person for their questions and concerns. Human agents are better at answering questions, reading context clues, and engaging with users. But, their time and effort are better spent on complex duties than the rote tasks that can come up. This is where you can reduce customer service costs.

 

Chat bots allow your customer support agents to focus on more sophisticated challenges. For tech support, chat bots can provide basic updates on support tickets and direct consumers to agents for detailed information or escalations. For customer care, customers can receive answers to commonly asked questions and connect with a live agent for the complicated inquiries.

 

Embrace Social Media

As we’ve said in the past, social media customer service is a growing preference for consumers. A large part of keeping customer support costs to a minimum is being proactive. A significant number of consumers (44% of Millennials and 38% of Gen X) expect responses to their questions or problems within the first hour. Companies that aren’t responding with urgency for small to medium problems risk an increased cost down the road to their revenue, customer base, and reputation.

 

Additionally, the cost for social media interactions is lower than those across voice and email channels. The average social interaction costs $1 while voice is $6 and email can be anywhere between $2.50 and $5. That doesn’t mean you should abandon other channels. The voice channel is still a crucial part of your customer service. What it does mean is that if you answer the appropriate questions and concerns that come across social media, you’ll be more cost-effective with your overall solutions.

 

Work with an Outsourced Partner

Combine all three of these pursuits and your organization can save a reasonable chunk of your customer support budget. Yet the challenge is scaling these practices up to best-in-class standards. From our experience as an outsourced call center, it takes time and effort but is definitely worth it.

 

Yet you can benefit from all of these cost reductions without the upfront effort. Choosing the right contact center can ensure quality customer service at a lower cost than what you’re currently spending.

 

Want to reduce the cost of customer experiences without sacrificing quality? You can – if you find the right outsourced team. Download our checklist and improve your ability to choose a cost-effective contact center partner. 

 

Download Our Buyers Checklist

 

Related Articles:

How a Contact Center’s Culture Impacts Every Customer Interaction

My Contact Center Vendor Isn’t Working! What Should I Do?

Want More Buyers? Revisit the Customer Acquisition Journey

 

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