According to Microsoft, 56% of people worldwide have stopped doing business with a company because of poor customer service experience.
This stat clearly shows how poor customer service can hamper your business, and may ultimately result in lower revenue.
That’s why it is important to focus on creating an excellent customer service experience that retains your customers and prompts them to invest in your products.
Let’s explore some great strategies that will help your business boost revenue growth with customer service by up to 10X.
Design Customer Service as a Profit Center
Deriving profits through customer service becomes simpler once you empower your staff to serve customers more effectively.
For example, a customer with a reservation at your hotel connects through live chat to resolve a question regarding the same. With a platform like ProProfs Live Chat software, an operator can quickly access key information such as the reservation history, booking status, and more to resolve customer’s questions faster.
In a nutshell, operators provide an expected solution instantly and help you retain customers efficiently.
What’s more, the operator can go an extra mile and delight your customers by offering a free upgrade to a suite or add on more services.
So how does this example highlight customer service driving revenue growth?
No doubt, the operator is creating a delightful experience for the customer. But at the same time, they are managing more than one customer at a time. That means you lower customer service costs, improve productivity, and boost revenue generation.
Grow Revenues with Omnichannel Customer Service
Companies with omnichannel customer engagement strategies retain on average 89% of their customers, compared to customer retention rate of 33% for companies with weak omnichannel customer engagement.
Keeping this in mind, you need a well-thought-out omnichannel customer service strategy that addresses customer pain points faster.
The goal is to present consumers with a unified brand that they can trust. You can integrate key communication platforms such as email, social media, live chat, and phone under this strategy. This allows customers to continue their conversation where they stopped through different touchpoints.
And to bring communication from different platforms together, you can use a help desk ticketing software. It’ll catch data from customer-facing emails, social platforms, and bring them all to a single dashboard. This makes customer experiences powerful as you maintain consistency, convenience, and relevance throughout customer lifecycle stages.
Train Customer Service Reps to Boost Upsell & Cross-sell Opportunities
For instance, a customer service agent logs into the CRM, connected with the project management platform, to get an overview of the number of orders due across the week. Individual orders provide a 360-degree view of the customer, plus additional information like sales funnel, purchase history, and more.
To generate customer interest in related products, the service representative can communicate directly with the client from the project management console. Maybe even offer customized discounts to close a sale. Provide sales training to your customer service reps so that they can make out of it.
Understand that if the customer service representative closes the sale, they add revenue to your business by identifying up-selling and cross-selling opportunities.
Go The Extra Mile With Educational Self-help Repositories
Tim Cook is known to respond to 100 customer service emails every single day.
That said, the role of customer service is more than just sending out follow up emails. Competition demands more. It would be best if you thought beyond being responsive.
Create knowledge repositories that help your business answer questions before customers initiate a support request. For instance, using a knowledge base tool helps you create helpful manuals, self-help centers, or an FAQ page to resolve questions faster.
This strategy encourages customer loyalty, helps in satisfying their queries, which can be seen through tangible results in increased sales and client retention.
Delighting Customers To Drive Revenue Generation
Deploying modern technologies can help you achieve this goal, be it a customer satisfaction survey or a minor adjustment in reducing customer service response time.
Image Source: Qualaroo.com
Even tools like Qualaroo help your business to enhance customer experience through the use of website feedback forms. The team can continuously examine complaints and establish an end outcome that meets expectations.
With 81% of Americans reporting that businesses are either meeting or exceeding expectations when it comes to customer service, it can really add to the bottom line of the business. With time, this can transform into a powerful revenue stream.
Making It Work
Irrespective of your business size, the concept that your customer service can be transformed into a proven source of revenue generation holds true for all industries.
Remember that great customer service is not expensive. It is mostly an attitude. Many have challenged the notion of boosting revenue growth with customer service. But ‘companies with a customer experience mindset drive revenue 4-8% higher than the rest of their industries.’
Encourage and train your agents to focus their effort on delighting customers. 10x revenue growth will automatically follow.
Jason Grills is a technical writer. He enjoys writing about emerging customer support products, trends in the customer support industry, and the financial impacts of using such tools. In his spare time, Jason likes traveling extensively to learn about new cultures and traditions.