Customer Service: A value or a cost?

Today life is very fast as in the past, this made to release more type of products and services to compete with their poor competed, we can purchases any expensive thing now from the smallest product to biggest in our homes now, we can compare their prices online, watch many videos and read peoples review before purchasing terms of trust, this high competition made different business and factories to have the best customer service desk as one rank,

??The customer service desk is a very important one in hospitality, retail and any other industry. But it is not just a department, the customer service desk is very significant one for any business. In this post we discuss what is the value of the customer service desk for client.

And how much amount of money we spend for a bad customer experience?

??The service desk is the first chance a business gets to interact with a customer – its first impression. The service desk is the first thing customers see from a company – a well-oiled respectable service desk helps a company to have a good corporate image and brand. A sloppy service desk can leave a bad taste in a customer’s mouth, and it means that customer may never return to a company again.

?In a recent study by NewVoiceMedia, poor customer service was said to cost US businesses up to $75 billion in lost revenue, largely attributed to churn – people are disillusioned because the experience is failing, so they end their relationship with the company and take their money elsewhere. Companies know only those who left; lost opportunity revenue from those who opt not to join is rarely captured, and companies remain oblivious. A bad experience can erode a company through reputation damage, as well: more people share information and opinion on social media and reviews.

?Yet, each of these customers will likely stay with you for years. Finally, the math gets interesting. According to another survey by Bain Company, the global consulting firm, raising the customer retention rate of 5% increases the profit rate by 25 to 95 per cent. What does this mean? Customer service desk investment retains your customers, and your customers for life return to your brand. And loyal customers will certainly spend more money, refer a customer of yours to others, and become a true brand voice.

?Do you think it is a good option to use an AI chatbot if you want to reduce the expenses of a human service desk?

It would help to reduce some cost because the AI technologies these days are incredibly sophisticated when talking about small queries. However, since the customers often have the feeling of having to tell their whole story and to talk to the human assistant, particularly if the customer had some upsetting issues because it is a long-standing problem or complaining and stuff like that.

?Moreover, AI bots cannot have a decisive judgment like us or gain an information about their feelings. But for the sake of customer, it can probably be one more stress for him also. human being has innovated technology because they had their all needs which were essential for them and were fundamental at the bottom. So far, that’s all.

?Third, what about customer service savings versus customer value? A lot of businesses think of treating the customer service desk as a cost. Companies can save money by reducing staff or outsourcing to the lowest bidder. However, there is a lot of value in just volunteering to sit on the desk: it saves the company money by retaining customers and therefore saving the money they would have spent marketing to new ones! A well-trained Customer Service desk is a great use of the spend!

?In short, customer service desk is the heart of an organization, not only it is essential to get profit but also to earn Customer’s confidence, their loyalty and eventually a reputation beyond compare mile. As we all know who deserves most by a company? The customers! So, provide them the Customer service they de serve for! Now make money on their return!

?

New Voice media citation:

?1.??Wilson, A. (2018, May 17). NewVoiceMedia research reveals bad customer experiences cost U S businesses $75 billion a year. NewVoiceMedia Research Reveals Bad Customer Experiences Cost U S Businesses $75 Billion a Year Business Wire. https://www.businesswire.com/news/home/20180517005043/en/NewVoiceMedia-Research-Reveals-Bad-Customer-Experiences-Cost-U.S.-Businesses-75-Billion-a-Year

?The Bain Company citation:

2.?The Bain Company. (n.d.-a). The Future of Customer Service. https://media.bain.com/Images/BB_Future_customer_service.pdf