How to increase the value of your business through customer service?

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It’s not a secret: Gaining and keeping a large customer base is crucial in many aspects when you’re a small business or a startup. Your perceived value offering is key when trying to convince additional investors to trust you. Before granting you some more funding, people interested in your business are going to evaluate you based on your revenue, the number of customers you have, the average spend per order, the customer retention rate, as well as your online reputation and customer satisfaction through rating sites, forums, etc.

How great can customer service increase the value of your business?

   

1. Customer service is a necessity

While many see it as a cost center, in reality, a customer service team is vital when it comes to managing the reputation of your organization – be it through live chat, email or phone.

We firmly believe that it is necessary to set up and train a skilled and friendly customer service team. This team of people is critical, as they might be the only ones that will ever leave a “real” impression of a human being representing your company in the minds of your customers. From our experience, an excellent customer service team will help boost sales in different ways:

  • Increased return business from satisfied customers.

  • Proper handling of complaints and dissatisfied customers. Research has shown that dissatisfied and vocal customers can costs a multiple of the amount of money they’ve spent with you in lost opportunities.

  • Positive reviews of your organization via word of mouth, eventually becoming known for a great customer experience.

With the right team, your customer service will turn into a profit center.

 

2. Great customer service can help you increase these numbers

A. Your revenue

  • 62% of Internet consumers said they would purchase more products online if live customer support were available (Poll conducted by Anderson Consulting).

  • 55% of consumers would pay more for a better customer experience (Defaqto Research).

B. Number of customers

  • 83% of consumers require some degree of customer support while making an online purchase (eConsultancy).

  • 92% of companies studied reported a decline in customer satisfaction mainly due to customer disappointment from inconsistent service.

C. Value of your brand and business

  • 70% of buying experiences are based on how the customer feels they are being treated. (McKinsey).

-10% increase in customer retention levels result in a 30% increase in the value of the company (Bain & Co).

 

3. But it’s more than just numbers

Most customer service companies are just focusing on numbers, costs, KPIs, data, SLAs, to manage their engagements with the companies they serve, and then they try to give the lowest level of service to barely reach the SLA. If the team size is too small, the quality of service will drop.

We believe there is a better way to do it.Our values for customer service are giving a memorable experience. Having friendly agents who might even occasionally joke with a client rather than just focusing on ending the chat as soon as possible. Although we need to pick up chats or calls quickly, It’s not about doing more chats per hour, it’s about keeping your client maybe a little longer on your site to have an even better experience, being assisted by somebody nice. This experience is a given in any physical store, but adding this perspective in your online experience makes all the difference.

And this is where we come in: we have been running a high quality 24/7 customer service for some of our own businesses as well as other e-commerce stores for more than 10 years. We’ve come up with a smaller, affordable 24 / 7 customer service package for startups and small businesses. Our service encapsulates live chat, email and phone support, for as low as 500 USD / month. You might be wondering why a software development company is providing such a service?

 

4. We are Venture Builders

Having helped more than 100 innovative software projects over the past three years, we understand the startups’ needs and wants, as well as the blueprint for success when it comes to relatively new companies. Technology, online marketing and customer service are the cornerstones of a successful internet business.

We are comfortable helping others in two out of three of these areas: software and customer service. Arcanys founders have grown previous e-commerce businesses from nothing, handling up to 5,000 orders per day and 90Mil USD in revenue through live chat and phone only. Now we are happy to coach our clients into improving their service level with the same approach that was successful in the past.

What’s even better? The plan starts at 500 USD / month for 120 interactions via live chat, social media, email or phone and 3 USD per additional interaction*, or we can create a custom plan for each business need. Customer service suddenly does not sound so intimidating anymore. Leave your worries to us; it gets as simple as that.

“It was an amazing experience… I would always recommend.”

Fangear is an Australian online store specializing in sports merchandise for all the major sports and teams across Australia. The Arcanys’ Customer Service Team provides round-the-clock LiveChat support across this network of sites, ensuring a top-quality experience for Fangear’s online customers every time.

About the author

Fred had been working on IT and operational projects in the finance and software industry in Switzerland for 10 years before co-founding Arcanys in 2010. He carefully negotiated with and managed outsourcing suppliers as a corporate buyer on the one hand, and led delivery teams as an internal provider to operational departments at an executive level of listed companies in Switzerland, on the other. With nearly 20 years of experience in the industry in Switzerland, Hong Kong, and the Philippines, Fred is now leading the worldwide sales and marketing efforts of Arcanys.

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