Does good inbound customer service cost a lot of money?

Does good inbound customer service cost a lot of money?

OABPO Blog Team Published on October 11, 2013
inbound-customer-service-

Good inbound customer service comes with expenses. In fact, in today’s competitive market, you need to go beyond industry standards and invest in transforming your customer service initiatives into something that will exceed the expectations of your customers.

Spending for customer service is definitely a worthwhile decision as it will help boost revenues by driving customer retention and enhancing your reputation among prospective clients.

Ramping up service quality

Investments to improve your customer care initiatives come in different forms.
To ensure that you’re easily accessible to your customers, you can extend operations by shifting from regular office hours to 24/7 availability to assist customers who may not be available during the day. Aside from the standard phone and email support, you can also provide additional channels such as social media and live chat.

Just as importantly, you can improve the performance of your inbound customer service representatives with continuous live scenario QA so that they can be more equipped to handle common and advanced customer issues as they occur.

Moreover, technology as well as recruitment and training of more people require additional expenses. The key phrase here is smart spending. According to the Pittsburgh Post-Gazette, you need to balance costs and benefits when it comes to customer service spending. Revenue should be greater than the incremental cost to make for higher profit margins.

Investing in this aspect of your business has many benefits. High quality customer service can assist in marketing through word-of-mouth and lessen operational costs by reducing the volume of customer complaints that a call center handles.

In addition, it makes for happy customers, which leads to repeat sales. According to Forbes, a 10% improvement in customer experience translates into an exponentially increased revenue, so you are guaranteed to rake in higher profits.

Poor customer service costs more

On the flip side, poor inbound customer service may cost your business dearly. According to an infographic by Buffer, 86% of customers quit doing business with a brand after having a bad experience. Moreover, on average, customers share their negative experiences to 16 other people.

This can mean lost sales opportunities and a dent in your brand’s reputation, which may push people away from your brand. You may even have to spend more in damage control and reputation management.

In conclusion

You don’t necessarily have to spend a lot of money for your customer service initiatives. Instead, you need to assess how well your business is doing in this area and make changes as necessary. Your customers will be thankful for this investment, and this, in turn, can reflect on your bottom line.

Leave a Reply

JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO2 days ago
Effective communication goes beyond simply using the same language as your consumers. That is why companies outsource their #multilingual #CallCenter: to have the ability to provide the kind of support consumers understand.

Read more on adapting the right language to build customer rapport: https://zcu.io/IMsh

#WeSpeakYourLanguage #CustomerService
Open Access BPO
Open Access BPO3 days ago
Unsure of how to improve customer relationships? Check out this overview of generational preferences to understand what influences your customers' decisions and how to meet their needs: https://zcu.io/AygQ

#WeSpeakYourLanguage #CustServ #CustomerSupport
Open Access BPO
Open Access BPO6 days ago
Unexpected interruptions in your #CallCenter operations can cost customers' trust and your brand's reputation. Discover how smart #offshore redundancy can mitigate these threats: https://zcu.io/8Vtz

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO1 week ago
Businesses need to understand what drives customer expectations to satisfy market demands. Consider these factors to build a better #CustomerHappiness strategy: https://zcu.io/NhP9

#WeSpeakYourLanguage #CustomerService
Open Access BPO
Open Access BPO1 week ago
Successful #CustomerService training programs help agents provide support consistent with the client's goals and values. At Open Access BPO, we look out for these mistakes to optimize our #training programs and ensure #EmployeeGrowth: https://zcu.io/zsfK

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO1 week ago
Ensure business growth and program deployment by choosing the right outsourcing company to back up your #CallCenter processes. See how Open Access BPO effectively launches client programs with its flexible #outsourcing implementation approach: https://zcu.io/1EtL

#WeSpeakYourLanguage