Invest Wisely In Customer Experience

Do you believe that high customer satisfaction requires spending more? Yes? Well you are certainly not alone, but you may be mistaken.

Through our experience within dozens of companies, we have seen that there are huge opportunities to cut costs and grow if you invest wisely in customer experience.

That is even more important when it comes to delivering an outstanding customer journey. We have seen that companies that improve their customers journey see revenues increase as much as 10%-15% while also lowering the cost to serve by 15%-20%.

You may be asking how that’s possible. The reality is that there are sizeable inefficiencies over the typical customer journey, which often cover multiple touchpoints managed by many different parts of an organization (website, call-centre, sales, marketing, etc.). 

We need to keep an eye on customer touch points, a call centre may respond to a customer complaint but not be able to identify the root cause resulting in a frustrated customer having to repeat their information they have already provided. Or for example at Rollio we use Hubspot CRM email tracker, which does a great job of alerting us when leads open up emails as 'speed to lead' is critical in staying top of mind. As customer journeys become more complex with the abundance of new technologies and channels, the opportunities for error increases if not monitored.

Take these three steps to increase growth and savings:

1. Coordinate your departments by breaking down the communication silos. Ensure that all departments understand what the entire customer journey entails and how they are contributing to minimising customer friction.
2. Make a wise investment by ensuring you have good data. One of the most critical pieces of informed data is what’s called ‘Breakpoint Analysis’, which shows at what point it is not longer viable to improve a particular customer experience. When looking at speeding up wait times in your call centre, does it make a difference if a customer is on hold for 2mins or 4min – data may show that this is negligible for customer, and it would be costly to implement an improvement. Be smart in your investments.
3. Focus your metrics by working out your company’s key performance indicators (KPIs)are. It is important to establish KPIs that reflect the whole customer journey, from call-centre service, to impact on churn and revenue. Look at setting aggressive targets that make you reach beyond what you currently think is possible thereby liberating your thinking and problem solving.

High performing teams prioritise collaboration between support and sales. Companies that are using 'sell' and 'support' have 128% more leads and 110% more deals won each quarter than those who do not prioritise collaboration between these two (Zendesk Study). 

With this broader view of the advantages of providing excellent customer journeys we can unleash a business strategy the whole company will be proud to stand behind.

The Rollio AI Effect: Click here for a demo to see Rollio AI's Voice-to-CRM and Workflow Process Automation.