The real cost of customer service

Friday, March 14, 2014

When developing their own identities, companies need to create unique products, services, marketing, and customer service strategies. With these, customers are able to distinguish a company from its competitors and make intelligent purchasing decisions.

The importance of giving customers the best brand experience they could have only became big in the '90s, when brands were gradually shifting from mass marketing to a more personalized approach through technology. Now, technology, in the form of social media, has made customers aware of their power to directly communicate to brands and change the business landscape. As businesses are well aware of this power, they give so much attention to assuring satisfaction each time they engage with their customers. 

Certainly, another reason why customer support is so important for businesses is that they know that taking it for granted could cost them billions. Take note: billions.

Indeed, there's real money involved in messing up customer satisfaction.

Last year, cloud contact center solutions provider NewVoiceMedia revealed that US companies have lost a staggering $41 billion in 2012. This is emphasized by the increased number of businesses that suffered a lot due to the inadequate service they delivered. Over the course of that year, 89% of surveyed customers have transferred to another brand many times because they couldn't find a company that values their importance. Meanwhile, 53% of them have avoided the idea of seeking aid from a brand because of a bad customer service experience.

Perhaps you've heard of how big brands like Old Navy, Barnes & Noble, and Toys 'R' Us suffered this last holiday season because of not centering their undertakings on the customers. Maybe you're also aware that there have been giant businesses that resorted to shutting down because customers didn't want them anymore.

Customer support isn't just about how a business interacts with the customers on the phone, chat, or email. It goes beyond the "call center idea" that has been synonymous to serving customers.

Customer satisfaction can happen in branding, in ad copies, in video adverts, in print ads—everywhere. Everything that aims to connect the brand to the customers requires a touch of customer care. Or perhaps businesses must think that everything they do would count as service to their customers. The bottom line is that customer service is not cheap. It could be financially daunting on one hand, and brand-scathing on the other.

Open Access BPO is a fast-rising outsourcing firm located in Makati, Philippines. We offer unique inbound customer service solutions to our worldwide clientele. Know more about our other services by visiting our website and Google+ page.