Technology
Online Self-Service Center During Economic Recession
During an economic downturn, companies seek optimal information technology for business management<\/a> that will help them make the most efficient use of the resources that remain in order to weather the storm.<\/p>
Forrester Research advises not to forget the key point in information management: "Your customers are the company's greatest asset." In the latest Customer Experience Index Report, a company analyst warns: "Now more than ever, you cannot afford to alienate a customer." Therefore, service is now the main reason (above price) why customers buy here rather than elsewhere – investment in customer service has never been so important. Below are five reasons why optimized web service increases customer satisfaction and why today it needs to be done more actively than yesterday. Five reasons why web service optimization is particularly important during a crisis.<\/p>
1. Today's consumer attitudes create difficulties for attracting new customers. But smart entrepreneurs leverage these attitudes when seeking tactics to increase company revenue. They have likely already understood the psychological state of the potential buyer and how their behavior has changed during the recession. Skepticism and fear, uncertainty and anxiety are the main emotions of the day. In a turbulent economy, consumers are less likely to try new things and explore the unknown, preferring assured satisfaction with proven items. This reluctance to try new things can be both emotional and purely practical – an unwillingness to try new options due to tight budgets. In any case, consumers prefer to buy what they already know rather than something new.<\/p>
From a business perspective, this means that now is not an ideal climate for launching new products to market and trying to convince customers to believe in and try something new. Instead, try to focus on growing revenue from existing customers. They also need your support and reliability. Try to play on that.<\/p>
2. Courting existing customers is cheaper.<\/p>
Today, as Frederick Reichheld says in the book "The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value," companies cannot afford to lose customers because replacing those who leave would be too expensive. Marketers know this. Selling to an existing customer base is much more effective than trying to attract new customers.<\/p>
That is why you should give your customers the opportunity to continue spending money with you by engaging them in various promotions and expanding their relationship with you. One surefire way to increase such interaction is to provide innovative, high-level service.<\/p>
As an example: Budget Truck Rental is taking customer self-service to a new level. The company Budget Truck Rental has taken a step forward in developing self-service by implementing the IntelliResponse instant answer platform on its website. IntelliResponse is a question-and-answer software platform that provides the correct answer to a user's question, no matter how it is phrased.<\/p>
When people are about to rent a truck, they ask a sea of questions before making a decision. And this "conversation" between the customer and the platform has a great impact on the decision to become a customer of Budget or not. Adding this service to the site allowed potential customers to ask a question and instantly receive an answer. This enabled users to get the needed information much faster without besieging the company with phone calls or emails.<\/p>
After implementing this service, the company's online order bookings increased by 35% in 45 days. This is proof of how quickly the implementation was appreciated by users. Just one implementation on a website can increase business activity.<\/p>
3. Investments in customer service can provide deeper insight into how to further improve customer relations.<\/p>
Major breakthroughs in improving customer relationships will only come after you truly understand your customers. To do this, you need to look beyond traditional customer information to understand what is going on in their heads.<\/p>
According to Forrester analysts, "in many countries, decision-making relies on hasty and often erroneous customer analysis." Make sure your company does not fall into this category. Carefully examine what questions customers ask when they come into contact with your organization through its employees, via email, or any instant response technologies.<\/p>
What conclusions can be drawn from such analysis? When Budget analyzed the questions asked through the IntelliResponse instant messaging service, they found that the questions mainly revolved around fifty-two topics. They also found that customers try to avoid special terms, preferring to communicate in plain language.<\/p>
The value of such information for improving service is clear. Armed with these details, Budget reduced the use of jargon in customer communications and compiled answers that covered the 52 main topics and disclosed them on the website, in marketing materials, and in employee training materials.<\/p>
What could your company do with such findings?<\/p>
4. The communication channel that your customers prefer to use with you is the most effective. Judge for yourself: over 90% of all purchasing decisions are made online, and 83% of consumers say that their primary source of non-technical information was the company's website.<\/p>
Most likely, your customers will want to find information about the product right there. They will prefer to see answers to their questions on the website. And this is the cheapest and most effective way to communicate with customers. They do not have to engage in lengthy conversations with company employees. In other words, when a customer looks at your website, they want to get answers to their questions now, not later by email or phone. This suggests that investing money in a telephone support service will be ineffective and it is not the preferred communication channel for customers.
The high effectiveness of the website as a means of customer communication is good news. And companies should follow the advice of Forrester analysts to "seek modernization in key customer touchpoints, such as the website," especially during a recession.
5. If you have done everything correctly, then the positive customer experience with the company grows, and costs decrease.
Improving the customer experience in terms of service delivery usually helps overcome problems that led to customer dissatisfaction. The flow of calls to the service center, in case of staff shortage, leads to long waiting times for responses to phone calls and emails. The simple solution of hiring additional staff would be expensive and not the most effective solution in today's economic situation.
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