Customer Support Platforms Are Driving More Revenue Than CRM Systems

Customer service is crucial to running any business. In fact, you can’t run a business without building a good connection with your customers, and maintaining that loyalty and ensuring you provide the best customer service to your customers, not just your offered product, is vital to succeeding in the ruthless business environment.

The importance of customer support was realized long ago. But the dedicated platforms and software now becoming integral to businesses across most industries, including small and medium-sized enterprises (SMEs), have changed the game.

 

The Importance of CRM Systems

Customer relationship management systems (CRM) have long been popular with businesses, especially in the B2B market. Their popularity was justified because they provided a holistic approach to strategizing and practicing customer service using technological tools.

CRM platforms offer cohesion among different business departments that use customer information at every point of the customer lifecycle.

From improving customer retention to bettering sales growth, all customer information gathered from different company fronts can be utilized to address customer concerns and use the compiled customer data for feedback and enhancements.

 

The Rise of Customer Support Platform

Even though CRMs provide a broad and integrated approach to customer service for the company, we are finding that customer support platforms are gaining popularity in the market and beating CRMs when it comes to overall revenue and business growth.

A customer support platform includes various functions that help customer service agents integrate valuable information, ultimately for the customer’s benefit, which is why we are seeing a rise in demand and acceptance of these narrower platforms compared to CRM approaches.

 

Why Have Customer Support Platforms Become so Popular?

Customer service or customer support platforms are dedicated to assisting customers directly. If CRM aims to integrate all relevant departments in using the customer data, customer support platforms deal with customer satisfaction, handling customer queries and doubts, and providing an excellent service experience to the customers.

The difference in the customer service included in most CRM platforms and dedicated customer support platforms is the intention to serve the customers wherever required, using all tools and methods available. The intention focuses on the cause instead of having too many boxes to tick, which can often be the case with a large CRM platform. Too many bells and whistles and a divided focus can be detrimental to the initial cause of customer support.

 

Introducing the Helpdesk System

Having a customer service department as a part of your business strategy is no longer sufficient for total customer satisfaction. Companies have to provide support to customers whenever required and be proactive in predicting potential issues to build a connection based on trust and confidence. One such feature of a dedicated customer support platform is a helpdesk system.

A helpdesk system is a cloud-based or on-premise software designed to assist the customer service agents of a company serve the customers effectively and efficiently. It can seem like something already part of the large CRM platform, but there is a significant difference between them.

While the CRM system helps the company use customer information for company progress, the helpdesk tool actively uses the information to aid the agents in delivering improved customer service. According to Microsoft’s Global Report, more than 70% of customers express they expect and want customer service agents to “know who they are, what they have purchased, and have insights into their previous engagements.” Helpdesks in a dedicated customer support

platform and other tools help agents achieve just that and make sure the customer builds a connection with the customer support staff instead of just using the service as a last resort after encountering a problem.

 

Customer Support Platforms – A Brighter, More Successful Future

Customer relationship management systems provide excellent tools and strategies that help a business use technology and customer data to help strengthen their market presence and make better products.

However, a relationship first needs to be established in the first place for this data to be useful and for the company’s growth to begin — and that is why more businesses, especially SMEs, are opting for more specialized and dedicated customer support platforms than relying on an all-encompassing CRM platform to also cater to customer support avenues. There is a reason that seven out of ten U.S. consumers report spending more business money with companies that deliver an excellent service. This great service started from their first interaction with the company. Whether it is through a query or a direct purchase, the customer takes a significant step by putting their trust in the company. This trust needs to be nurtured through personalization and human touch.

While you can achieve many great things with CRM platforms and reduce potential customer churn, the fact is that you need your front-line warriors — your customer support agents — to be well equipped to deal with the customers productively and efficiently.

This shift in the industry from only valuing the product to now expecting excellent customer service is a fact of our time and is likely to prevail in the coming years as well. And customer support platforms are taking the lead in improving customer satisfaction on a global scale.

Why You Must Implement Customer Success in 2022

Customer success has been gaining more popularity in recent years. This is evident because a whopping 72% of businesses put improving customer success as their topmost priority. Overall, it is a good trend because we have been seeing massive job postings for customer success managers and experts in the industry, which ultimately is beneficial for businesses and the job market.

The concept initially started with SaaS and B2C programs, but it has taken over the B2B market, bringing on an industry-wide shift. We have seen an emphasis on providing better customer care overall, which many have termed a customer-centric culture.

This culture is more attentive to enhancing and evaluating customer-related functions such as customer satisfaction, customer relation, customer experience, customer retention, etc.

But all of that aside, what exactly is customer success?

 

What Is Customer Success?

Customer success simply means putting your customers first. It’s a long-term business strategy professionally driven towards maximizing sustainable profitability for both the

customers and the company. This profitability needs to be proven and not just be a set of predicted numbers for a pitch.

Putting customers first has long been a slogan and a marketing strategy; however, customer success uses this ideology as the primary strategy for business growth.

It is geared toward making sure that the customers are getting their desired results from the company’s product or service and that all customer-success initiatives are mutually beneficial for the company as well when it comes to revenue and growth. This focus on customers, not just the target consumers and the audience a company needs to market to, results in an overall boost in customer experience.

According to Dr. Emmet C. Murphy, concentrating on customer experience provides companies with 60% more profit. Additionally, Bain reports that companies with better customer experience generate 4% to 8% more revenue than their competitors.

 

Understanding the Customer Journey

Customer success includes a thorough understanding of the customer journey, obstacles, and the relationship pattern that the customer maintains with the company. This translates directly into active listening by the company as a whole and not just the customer service agents.

As a company, when you begin mapping customer journeys, you should focus on finding out customer expectations that match your business objectives. Once you know these details, coming up with a product strategy to cater to these needs gets much more structured and focused.

Having data on what the customer wants is crucial in developing any product or service, as it allows you to factor in your audiences’ needs while achieving all your business goals, leading to customer success.

 

Why Should You Develop and Implement a Customer Success Initiative?

 

1. It Leads to Company Cohesion

A customer success strategy ensures the integration of all departments and company functions, from sales and marketing to finance and service management. So, everyone in the company has access to valuable information and knowledge regarding their roles.

The focus on bringing the customer the best experience can build cohesion on all fronts in the company, bringing unity to the workspace and directly impacting the organization’s growth.

2. It Establishes a Strong Renewal Process

All industries have their ways of locking in customers through renewal contracts and subscriptions. In the B2B industry, this process is even more integral to many organizations’ revenue and growth. However, with the abundance of options available to the consumers, companies now face a pronounced need to ensure smooth renewals from their customers.

Customer success initiative such as value realization helps maintain customer loyalty and keep the clients coming back for more without shopping around every growth season for new software services.

3. It Minimizes Customer Churn

Every company is going to experience customer churn at some stage of its business. However, according to Ameyo, 67% of customer churn can be prevented if companies address customer dissatisfaction-related problems the first time they occur.

Keeping that churn to a minimum and dealing with it proactively is what sets the customer success methodology apart from the traditional approach to your SaaS business.

1. It Leads to Company Cohesion

A customer success strategy ensures the integration of all departments and company functions, from sales and marketing to finance and service management. So, everyone in the company has access to valuable information and knowledge regarding their roles.

The focus on bringing the customer the best experience can build cohesion on all fronts in the company, bringing unity to the workspace and directly impacting the organization’s growth.

 

Conclusion

Technological organizations have to go beyond traditional marketing and strategy to generate leads and maintain a company presence in the market due to the booming industry. In the cutthroat market, you first need a minimum viable product to get yourself in, and then it is a battle of the feedback loop and reviews that you mostly do not have much control over. Due to online processes and the involvement of customers in the tech industry, the churn cycle is also very fast in this space.

Having a customer success strategy ensures that you have a team that is predicting the churn and already has a plan in place of how to deal with it. For example, a dedicated and skilled helpdesk system can set your company apart from another that takes days to get back to their clients for their issues or isn’t generally helpful.