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How Customer Service and Retention are Related - A Better Answer - ContactCenterWorld.com Blog

How Customer Service and Retention are Related

Customer service leads to happy customers, and happy customers keep buying your products and services. It really is that simple on the surface, but there is more nuance.

It doesn’t matter that you have excellent customer service alone, it matters how complete your offering is and how you dedicate yourself to it.

Why Retention Matters

The cost of acquiring customers is high; it includes marketing budget, sales time and delivering a product. The longer you keep a customer, the more return on your investment of sales time and marketing resources.


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It’s somewhere between 5 and 25 times more expensive to acquire a new customer instead of retaining one. This is why the largest companies in the world try to make you brand loyal and maintain your attention.

You should be focusing on keeping your customers over acquiring lots of new ones. The math works out as a far better way to grow your company.

So how do you keep customers? Customer service.

Customer Service and Retention

Your customer service is part of your sales process (even if it requires a different skillset). Think of it like you are “reselling” your customers on your product or services every time they need customer service.

You are selling them on the idea of continuing to use your product. You are giving customers confidence in their choice of your company, that they got the best deal for them (not always the least costly) and that there is no reason to look elsewhere because they are happy where they are. Whether you sell to consumers or businesses, this idea remains true. They view your support as part of the product.

By creating a great customer service moment for your customers, they will keep coming back. They can even walk away from these experiences more satisfied than they were before.

The better your customer service, the higher your retention will be. In fact, 52% of customers report poor service as their reason for leaving a provider. It’s essential to invest the time, resources and culture so your service is a full customer experience.

A Complete Service Experience

Everyone thinks of customer service a little bit differently. It’s easy to become too focused on one part of customer service when it’s often multi-faceted. Customer service can be as simple as an easy and responsive scheduling system, digitally or by phone, or it can be a full team of expert troubleshooters.

Your customer service should exist in multiple forms. These are a few easy things you can do to help your service:

  1. Make your website easy to navigate, and your contact information easy to find.
  2. Ensure your phones always have a trained representative answering them.
  3. Be available when your customers need you.
  4. Interact quickly on digital platforms if you have them, such as Facebook.
  5. Ability to problem solve, even if you don’t have the solution yourself, know who does.

Make sure that whatever platforms you do use, they are always manned. It doesn’t help you if your Facebook page never has anyone responding to comments. If no-one is monitoring your catch-all customer emails, then they’ll become frustrated and feel ignored.

The best piece of advice for creating a customer service experience is to engage and manage whatever platforms you do choose to use.

The Fad Trap

There are always new ways to engage with customers to help increase retention. No matter what releases, apply the above advice. If you can’t integrate it into your business or dedicate your staff to it, don’t use it.

Chatbots have become a popular addition to company websites and are a fantastic way for customers to get basic questions answered, but if you don’t have a service team to back it up for the more complicated conversations they can taint the whole customer experience before you ever get a chance to talk to them. Supporting a chatbot with both an answering service and chat representatives allows your customers to have a complete service experience for their complex needs, no matter how they choose to escalate the conversation.

Conclusion

Your sales process never really stops. Customer service is an extension of your sales team. They keep your customers happy and willing to spend more money with your business.

The key is to create a complete experience and dedicate yourself to your chosen platforms or work with a partner who can do that for you. If you have strong customer service, then you’ll retain more customers and grow a more profitable company.

Source: https://www.abetteranswer.com/blog/how-customer-service-and-retention-are-related

Publish Date: July 12, 2018 5:00 AM


2021 Buyers Guide Artificial Intelligence

Page: 12
1.) 
Acqueon Technologies Inc.

Acqueon's AI-driven conversational engagement software enables sales, marketing and service organizations to engage in emotionally connected dialogs with customers via their channel of choice for significantly improved results. The Acqueon suite adds multichannel campaign management, contact center analytics, desktop, and CRM connectors for your contact center software of choice, including Amazon Connect, Cisco, Nice inContact, and Twilio. Acqueon conversational engagement software leverages the Acqueon IQ platform to aggregate data from the various applications, assemble rich customer contexts, and drive next-best-action using powerful statistical and predictive models.

2.) 
Agara

Agara is an autonomous virtual voice agent powered by Real-time Voice AI. It is designed to have intelligent conversations with your customers, vendors, and partners without any assistance from human agents. It can handle a wide variety of calls including inbound customer care calls, outbound lead generation calls, appointment scheduling calls, and overdue payment recovery calls.

Agara is available for several industries including banking, insurance, retail, e-commerce, airlines, and telecom. Powered by advanced Real-time Voice AI that understands speech in real-time, automatically determines the right process to follow and guides the caller along in the process with natural conversation.

3.) 
Aktify

Aktify
Aktify is personalizing interactions between brands and consumers at scale with machine learning. It allows contact centers to offload their leads that are not responding to agents to Aktify where AI will be used to follow up through SMS until the customer is ready to talk to an agent. Aktify produces something out of nothing, as typically unresponsive leads are not focused on.

4.) 
Balto Software Inc

Real-time call guidance and post call data analytics
Balto Software is a provider of real-time intelligent call support and coaching. Our software solution leverages artificial intelligence to listen to both sides of a call and deliver mission-critical information and feedback to sales representatives immediately. Our solution is fully customizable and our current customers include sales teams and customer service groups in sectors ranging from debt collections to healthcare and home improvement.

5.) 
Consilium Software

Consilium UniChAI™
Contacting customer service can often be a challenging experience with waiting on hold forever being one of the top reasons for client dissatisfaction. Furthermore, repeating information that was already provided to a chat agent, and generally spending too much time getting answers to questions can all lead to a lengthy, and often frustrating, customer journey. With unlimited scalability, enterprise-level security, and best-in-class data privacy features, UniChAI™ is a conversational AI platform which is playing an important role in improving some of these aspects of customer experience (CX) through chatbots – which are intelligent and natural-language virtual assistants meant to augment a c...
(read more)

6.) 
ContactEngine

ContactEngine
ContactEngine connects conversations across entire customer journeys with One Voice delivering exceptional CX and demonstrable business value for organizations around the world.

ContactEngine provides proactive customer service by helping your customers through the channels they’re most comfortable with. It aims to contact your customer before your customer contacts you.

7.) 
Daisee

Daisee
Daisee builds technology that empowers people to solve problems by making interactions simple and smart so they can have a more significant impact, be more productive and be better at what they do. We believe incremental improvements carry huge potency and provide exponentially greater change for the better.

Genesys customers can now automate risk and quality management using Daisee’s speech and sentiment analytics and remediation workflow software. Daisee helps improve customer experience, ensure regulatory compliance, identify missed commercial opportunities & training requirements as well as provide valuable insights back to the business directly from the frontline – the true voice-of-...
(read more)

8.) 
eGain Corporation

Automate the routine and boring and augment the interesting with eGain AI (Artificial Intelligence). eGain is a pioneer in AI for contact center customer service and customer engagement and has developed cutting-edge technology as also best practices and proven use-cases over the last two decades. eGain’s patented Case-Based Reasoning (CBR) technology, called Guided Help, is a simple but powerful AI technology used to find answers to customer issues, and for process guidance and decision making. Along with Knowledge and Analytics, Artificial Intelligence forms the core of the eGain Customer Engagement Hub platform and its omnichannel and digital-first capability.

9.) 
eGain Corporation

eGain Knowledge+AI
eGains omnichannel customer engagement solutions power digital-first experiences for leading brands. Infused with AI, machine learning, knowledge and analytics, our award-winning platform helps clients automate and optimize customer journeys via virtual assistance, messaging, social, mobile, web, and contact centers.

10.) 
Emmersion

Automated Language Testing
Emmersion offers automated assessments to quickly and accurately test speaking, writing, and grammar fluency in 9 languages and counting. We help contact centers improve CSAT scores by screening for top talent and retaining top performers.

11.) 
Eudata

Convy.AI
Scale up your business using Convy AI, the artificial intelligence that acts like a human helping enterprises to better interact with their clients and agents to be focused on the value added transactions.
Convy.AI is used to support, entertain and simplify the experience of million of customers every month.
Convy.AI understand natural language (but supports also button based UIs), simply integrate many front end (chat, email, whatsapp, IVR, Alexa, google home, ...) and it's zero code admin interface enables everybody to manage conversations.

12.) 
ExecVision

ExecVision is a conversation intelligence platform built to drive human behavior change which positively impacts individual, team, and organization performance. The software ingests, transcribes, and analyzes conversations to provide actionable insights for coaching, upskilling, and more informed decision making. Sales, QA, customer success and support teams use ExecVision to create a consistent experience across the customer journey.

13.) 
Koopid

KoopidAI
Most customer-facing interfaces make it the end user’s job to figure out how to navigate and find their way to where they need to be. This is true of websites and mobile apps as much as it of touch-tone IVRs. The interface is usually designed for the most generic of uses; and because making changes is expensive and time-consuming, these interfaces tend to be inflexible with regards to evolving times, use cases or user needs.

AI can help create user interfaces that are adaptable and personalized. Advances in Conversational AI make it possible to interact with the user in natural language. Many IVRs are being re-configured to work this way and businesses are also introducing text-based cha...
(read more)

14.) 
LivePerson

Automate up to 70% of messaging conversations on your website, SMS, Facebook Messenger, Apple Business Chat, WhatsApp and more. LivePerson has a complete solution to create, manage, and optimize bots for businesses of all sizes.

15.) 
Mediatel Data Srl

Contact Center Solution AI-Driven
Mediatel Research and Development team developed Artificial Intelligence Engine, part of the Contact Center platform, suitable for vocal interactions using Natural Language Processing modules and digital interactions, used in chat sessions, for chat bots, email management for email dispatching or text messages.

16.) 
MFE International

Oracle Digital Assistant
The next generation state-of-the-art text and voice AI Chatbot . No coding required.
Reduce call volumes by 30-60%. Reduce waiting times

17.) 
Navedas

CSAT.AI
CSAT.AI Scores Better Customer Service with Gamified Guidance!

CSAT.AI lets agents know when they’re on the right track by predicting CSAT scores in real time (when they’re fixable!) - because most customers don’t leave feedback, they just leave.

CSAT.AI measures if the customer’s questions were answered, how empathetic was your agent and the customer’s sentiment to predict a CSAT score without pesky surveys, all in real time. QA is modernized and the CX game is improved - no matter if your agents are at their home or your office.

18.) 
OpsTel Services

SPEED & PLUS
The SPEED solution solves for service level issues while cost optimizing the environment with automation.

Provides an enhanced way to speed up & optimize invoking temporary agent skills configuration changes into the contact center environment.

Speed allows you to schedule both future changes & temporary changes that auto-revert back to the original state when scheduled time expires.

Speed features:

*Automated / Scheduled Temporary Agent Skills Configuration Management
*Immediate Temporary or Reoccurring Schedule Skills Configuration Changes
*Easy to Use/Operations Administration Focused
*Descriptive Monitoring Activity Dashboard
*Detailed “End to End’ Audit Trail and Perfor...
(read more)

19.) 
Vads

VADS Smart Chat Assistance
VADS Smart Chat Assistant is a computer program that conducts a conversation via auditory or textual methods.

VADS Smart Chat Assistant is an artificial intelligence (AI) program that simulates interactive human conversation using key pre-calculated user phrases and auditory, visual, and text-based signals.


Benefits :
- Reducing operational workload
- Increase customer engagement and customer experience
- Save on operating costs
- Provide insight into the customer

20.) 
Summatti

Analysis that empowers your business
Get actionable insights from all your customer interactions
 
Page: 12



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