Technology is something that can be both a blessing and a curse. It helps us connect with people very quickly, but it can also leave those ‘late adopters’ behind in the dust.
Even though companies struggle to find the most cost effective ways to take care of their customers, it is often not enough. Dissatisfied customers are taking their issues to social channels and looking for answers there. So, why do so few companies utilize the social media tools available to them for customer service? It’s costly.
The Introduction of Social Media
Social Media has drastically changed how the game is now played. Issues that once were small trembles can turn into full-blown earthquakes. Angry customers can vocalize their disappointment on channels like Facebook or Twitter. They let the public know how badly they were treated and thus negatively impact a company’s image, sometimes permanently.
To make matters worse, there is a chance that tens of thousands of people will see the post within a short period of time (and that number can increase exponentially). It makes no difference whether customer issues are personal or technical. Either way, they can exploit the weak points of a company and cause it to crumble.
Any marketing manager or customer service representative knows that the amount of time and money spent putting out fires is immense. The key is to prevent the fires before they start. The cost of unhappy customers greatly overshadows the cost of better customer service practices.
Negative press can destroy a company’s image and leave it in the ‘recovery phase’ for years to come. Both IT managers and marketing managers need to understand the importance of keeping up with the changing demands of the customer. Customer complaints, published out there for everyone to see, impacts both existing and new customers. Too many of these red flags could mean the end of a company’s reign.
The Customer Service Solution
In this day and age, people are looking for answers in a fast and accurate manner. Yet, it’s a very costly proposition for any business to invest in customer service. Why? Because so many resources have to go into it.
Customers don’t want to be put on hold for 10 minutes; they won’t put up with it anymore. They want instant gratification. And, if they are upset or frustrated, they will not be silenced.
One way to address this issue is by giving customers the tools they need to find the answers ON THEIR OWN. Giving customers the power to resolve their own issues is something they will appreciate. Customers won’t have to interact with any reps or agents during the process. They can easily find the answers they need – by themselves – and then get on with their day.
Why not just take the call center representative out of the equation? This may seem like a backwards idea for IT managers, but it works.
As an IT manager, it’s your job to find the perfect balance between customer service and cost effectiveness. Otherwise, customer problems will fall on your shoulders. You should utilize resources like WalkMe.
The WalkMe Platform gives agents a guide on how to resolve real-time problems – quickly and efficiently. No longer do customers have to wait forever to speak with a representative. No longer are they frustrated. This tool drastically minimizes the number of customer issues.
What You don’t Know CAN Hurt You
There are hundreds of incidents where customers are not happy with the representatives they encounter. In fact, the US Chamber of Commerce revealed that 68% of customers leave a company because they were unhappy with the treatment that they were given when talking to a customer service agent. That is a very large percentage… which can lead to a lot of negative public fallout. It can also lead to a shrinking client base.
With all of the headaches involved with customer retention, some might wonder if keeping customers is really worth it. Perhaps Marketing managers should look past current customers and set their sights on new acquisitions?
This would be a terrible mistake. Data shows that there are several significant reasons why customer retention is critical. A study, by Bain & Company, revealed that it can cost 6-7 times more to get a new customer versus keeping an existing one. Those customers that are not happy with their service will have no problem taking their business elsewhere. The study also revealed that a customer is four times more likely to leave a company, if the issue was related to customer service.
Even if a business doesn’t get vocal feedback about their issues, that doesn’t mean that everyone is happy with their service. In fact, 1st Financial Training Services revealed that 96% of unhappy customers don’t complain, yet 91% of them will leave and not return.
For every complaint that is filed against a company, there are potentially 26 customers that have not said anything! This is a huge sinkhole for any business trying to stay afloat.
It All Boils Down to Customer Service
Whether you are a marketing manager or an IT manager, one fact is clear; excellent customer service is the key to keeping existing customers and acquiring new ones.
Companies that don’t utilize social media will learn the negative consequences of these media channels very quickly. Take the necessary steps to spotlight your company in a positive way. By addressing customer issues in a quick and efficient manner -or by giving customers the tools they need to find their own, quick solutions – a business will remain relevant and successful.