Important numbers to remember in the era of the customer
The customer service landscape has been shifting for a few years. The rapid growth of technology and changing customer expectations has meant new priorities for enterprises looking into investing in customer service and those looking to understand the importance of quick, convenient, and successful service. With an industry shifting this quickly it can be difficult to determine where to start. Here are five critical statistics that help bring the new CX landscape into perspective.
1) Customers Are Raising Their Expectations
According to the 2017 State of Global Customer Service Report, 54% of customers have higher expectations for customer service today compared to one year ago (that number jumps to 66% for consumers 18 – 34 years old). Companies can’t be complacent with customer service. Customers are constantly expecting better, more intuitive customer service. As technology keeps advancing and tech-savvy consumers see more convenience entering their daily lives, businesses must continue adding the same amount of convenience to their customer experiences to stay at the top of the customer service landscape.
2) Customer Want The Power
According to a report by Aspect Software, 73% of customers want to solve product or service issues on their own. In a world ruled by convenience and instant gratification, customers are used to being in control. They can easily find the answer to any trivia question with a simple Google search, and want to just as easily find the answers to their customer service issues. Customers don’t want to explain their situation to an agent and wait helplessly while someone else tries to solve their issue. The future of customer service tightly revolves around empowering customers with self-service capabilities.
“If businesses want to keep ‘serial switchers’ and increase customer loyalty, investing in customer service needs to be a central commitment.”
3) Customers Won’t Settle For Subpar Service
A recent NewVoiceMedia survey reveals companies lost $75 billion in 2017 from customers switching to competitors due to bad customer service. This figure is up from $62 billion in 2016. As customers’ expectations grow, more customers are fleeing poor service for better experiences. It’s not enough to offer satisfactory products and services. If businesses want to keep these “serial switchers” and increase customer loyalty today, investing in customer service needs to be a central commitment.
4) Customers Prefer Visual Interactions
According to a Radial and CFI Group survey, 55% of customers are likely to use Visual IVR when given the option. Our smartphone-obsessed culture knows mobile phones are about way more than voice calls. Somehow, IVR is only just now catching on. Advancements like Visual IVR are pulling the technology into the modern era, unlocking the full power of the pocket supercomputers we all carry in our pockets. Virtual app-like experiences streamed to phones on demand, self-service forms, photo and video capabilities — Visual IVR technology combines the self-service options modern consumers crave with the devices they use every day.
5) Customer Service Isn’t A Money Pit
The 2017 Dimension Data Global CX Benchmarking report says 84% of organizations working to improve CX see an increase in revenue. Customer service isn’t a department sieving money anymore. Customer service investment directly results in increased revenue for enterprises. In the age of Yelp and Twitter, great customer service generates new customers and more sales. Great service creates great reviews which bring in the “serial switchers” desperately seeking out better customer service.
These five stats paint a bright future for customer service. CX is quickly becoming a critical focus for enterprises. Great customer service empowers customers and stops them from switching to other vendors. The investment is necessary. Upgrading antiquated systems to new technology like Visual IVR enhances customer satisfaction and lowers contact center costs, but also generates new revenue and increases profit.