Why Every Company Must Invest in Customer Service in 2022

Before, customer service for many companies started as an obligation. It was something that was done just because everyone else was doing it. In today’s world of immediate connections and cutthroat competition, no one can deny the need for a company to have customer service support for their products and services. However, having a customer service department and proactively building well-maintained customer service as a means of company growth are two different things.

Starting from the basics, the most obvious reason for having customer service is giving your customers a direct line of communication with you. Most people associate customer service with problem-solving. Any problems with the product or services, a customer knows they can contact support to get their issues resolved.

However, good customer service goes beyond just problem-solving. It is geared towards providing customer satisfaction. The help desk is equipped with all the necessary tools and strategies to provide customers with solutions to their problems and goes beyond that to establish a trust-based relationship with the customers.

Building a loyal customer base starts with having an excellent customer service team. This team needs to be empowered and invested in. It is up to the company’s higher-ups to realize the need and understand the importance of having impeccable customer support, which is the main distinguisher between companies in today’s competitive market.

Let’s look at some of the best reasons you should be investing in customer service in 2022.

 

1. Cheaper Customer Acquisition

It is no secret that retaining customers is cheaper than acquiring new ones. Having excellent customer service ensures that your customers are coming back for more. According to Dimensional Research, 52% of the customers report making additional purchases from a company after a positive customer support experience.

But that’s not all. In fact, having a retention rate of only 2% can decrease customer acquisition costs by as much as 10%. These stats are not new but are even more relevant in today’s fast and saturated market. Companies are spending thousands and even millions on unique marketing tactics. By ensuring good customer support (that is significantly cheaper), you can reach and lock in more customers than your competition and retain them.

 

2. Representing Your Brand

As mentioned before, customer service is not just there for problem-solving. Your customer service agents are the main point of contact between your company and your customers. So, investing in their training and equipment should be a top priority as they represent your brand to the world in general.

When a customer contacts support and have a good experience, it is not just the individual agent that is regarded positively but your company’s name. Similarly, having a slow or a downright lousy response to customers brings your image as a company down. In a recently published report, 17% of Americans state that they are more likely to do business with companies having an excellent customer service reputation. So, investing in the quality of your customer service is imperative considering the massive influx of potential buyers to the market after the pandemic as well.

Additionally, if a brand can sell itself as a company that values building a solid relationship with customers, the better revenue it will be able to generate.

 

3. Happy Employees Means Happy Customers

We all work better in a healthy and progressive environment. Keeping your employees happy and connected with the company’s mission is the best way to ensure success across all departments. When it comes to customer services, this need is even more pronounced.

Since your customer service agents come in direct contact with the customers, they must associate with the company’s name and want to excel at their job. This passion can only be cultivated when these employees feel empowered and cared for. In fact, 80% of employees report that they work harder when their boss appreciates their work.

So, the road to customer satisfaction directly goes through ensuring customer support staff’s satisfaction.

 

4. Free Referral

Never underestimate the power of a “friendly suggestion.” Your happy and loyal customers are your best promoters. You maintain such loyal customers by offering fantastic customer service. Whether it is simple queries, quick problem solving, or personalized connection to repeat members, everything related to customers is done by your hard-working support staff. Customers that report a company’s customer service as “good” are 38% more likely to recommend the company to others, and 72% of customers are likely to share their positive customer service experience with six other people.

So, keeping the customers satisfied is a priority for every company, but it is only when the top leadership realizes the importance of customer service in building that satisfaction that a company can reap the benefits of this satisfaction loop.

 

5. Increasing Company Revenue

Organizations need to realize that having good customer support results in revenue growth. We have discussed how an effective customer service team helps marketing and sales. All these benefits are directly tied to an increase in the company’s revenue. According to Business experts, a company can only increase profits from 25% to 125% by preventing customer defection by 5%. This prevention can only happen through an exceptional helpdesk and a dedicated customer service team. Also, companies that offer a better customer experience have 4% to 8% higher revenues than the rest of the market.

 

The Bottom Line

Happy, satisfied, and loyal customers are not just acquired by chance. These relationships need to be first established and then maintained. This can only be ensured when companies invest money and time in their customer service teams.

So, from employees to tools and equipment, customer support should be a priority for all businesses in 2022.

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.