Seasonality can drive monumental amounts of revenue: Back to school & Black Friday for retailers, Super Bowl for consumer electronics, and tax season for accountants. Peak periods that produce a flood of consumers can also create a tsunami of calls to your customer service center. Weathering the rush can be crucial to your revenue and
The worldwide business intelligence (BI) market will have an estimated value of more than $33.3 billion by 2025. This growth is relatively rapid because businesses across many sectors realize that business intelligence technologies are crucial to long-term success. Despite the widespread adoption of business intelligence solutions, there is still a misconception that these technologies are only
When a customer receives great service, nearly four out of five (78%) will do business with you again even following a mistake. But how do you know what customers think of their support experiences? Unless you’re measuring customer satisfaction (CSAT), you won’t. Most businesses know the value of keeping customers satisfied. Not only do customer perceptions significantly
Three in four customers (75%) prefer to interact with human customer support staff instead of automation software, according to Oberlo. Accommodating this customer preference requires you to maintain a skilled customer service team plus self-serve software where it makes sense. But building out a customer service team can be challenging. This difficulty holds true whether you’re
A 2021 survey, 80% of respondents turned to outsourcing to improve efficiency, business growth, and the chance to work with experts. When it comes to support, outsourcing has been one of the most prevalent trends over the last several years. Companies ranging in size from small startups to major enterprises can enhance customer satisfaction (CSAT) by partnering with
Nearly half (46%) of businesses say outsourcing allows them to access skillsets not available internally. Another 45% view outsourcing as an effective cost-saving strategy. There’s little doubt the right outsourcing partner can help a business cut costs, improve customer experiences, protect profit margins, and scale services. However, choosing the wrong partner can have unintended consequences. Outsourcers with
According to Oberlo, 52% of small companies struggle to find qualified employees to fuel continued growth. This is one of the many difficulties as businesses strive to reach their true potential. When you first launched your business, your main goal was to establish the brand and start growing. Unfortunately, this doesn’t happen overnight. Here are some proven
According to a recent IDC survey, 85% of respondents advised that higher staff engagement and enhanced employee experiences (EX) yield a better customer experience (CX). In addition, 62% of participants stated a direct causal relationship between CX and EX within their organizations. Despite these figures, some businesses still address the experiences of their employees and their customers
According to data gathered by Business 2 Community, 90% of consumers want an omnichannel service experience when interacting with companies. Additionally, omnichannel customers typically spend more when compared to single-channel users. Organizations that provide true omnichannel support maximize profitability, enhance the customer experience, and preserve brand reputation. It’s clear that the era of offering customers a single
The 2021 business intelligence (BI) industry generated approximately $22.8 billion in revenue, according to market insight. The market value for 2022 is estimated to climb to roughly $29.48 billion. This growth is being fueled by surging demand for business intelligence solutions. While many organizations realize the benefits of business intelligence solutions, far fewer of them have
Nearly 8 in 10 customers will forgive an organization for making a mistake if they receive excellent support during the resolution process, according to Salesforce. Another 90% say that positive service experiences increase their likelihood of making a repeat purchase. These statistics show how important customer support quality can be in making, or breaking, your organization.
According to a 2021 report, 82% of respondents stated their organization is trying to gather more customer data. However, a staggering 61% also say that making sense of this information is a significant pain point. Your organization likely gathers and stores massive amounts of customer data. If so, then a fair amount of that data goes unutilized
Many contact centers struggle with high agent attrition rates. Harvard Business Review estimates that agent attrition may reach up to 45% – at least twice the average turnover in other departments. High turnover anywhere hurts the bottom line. It also poses a substantial risk to business continuity and brand image. Another significant concern is whether ongoing turnover
Half of consumers will start doing business with one of your competitors after a single bad experience, according to Zendesk. This jumps to 80% after more than one negative experience. With the stakes so high, it’s critical to provide customers with high-quality, end-to-end service across the entire lifecycle – from purchase through retention. To get started,
Did you know that customers develop a first impression of your website in only 2.6 seconds? Also, 88% of first-time visitors will never return if they have a bad experience. Yet some businesses still consider this type of user experience to be a marketing issue. While an aesthetically pleasing and easy-to-use website can undoubtedly enhance other
Approximately two-thirds (69%) of consumers prefer dealing with chatbots when they need customer support services. Chatbots are unique computer programs designed to mimic human conversations. They interact with consumers via instant messaging applications by displaying a series of preset messages in response to specific keywords. While their popularity among consumers has led to the widespread adoption of
As many as 90% of Americans consider customer support quality when deciding whether to do business with a company, according to Microsoft. In addition, attracting new customers is over five times more expensive than retaining existing ones. Providing excellent support starts with hiring and retaining quality agents. It then requires investing in the latest tools and
Consumer acceptance of bot-driven support is rising with as many as 42% interested in using an augmented-reality service bot to help them with setup and repairs, according to CGS. Because customers are becoming increasingly adept at working with AI technology, and technology is improving, by the time an inquiry reaches live agent support tasks are more complex.
From 2015-2020, the global market for outsourced customer experience services grew from $66.1B to a staggering $82.6B, according to Statista. This increase represents multiple benefits that outsourcing customer support offers across virtually every industry. By outsourcing support, a business not only helps the bottom line – it also enjoys competitive advantages. Expand Your Reach Reputable outsourcing
Holiday sales are projected to grow by at least 7% this upcoming peak season, according to CNBC. The news outlet also noted that shopper disappointment is likely to be a common theme as staffing issues and supply chain-related delays abound. A continuing trend is an increase in online shopping which can complicate the buyer journey and drive
Up to 75% of total gaming revenue comes from in-game purchases, according to ARK Invest. In contrast, only 20% of gaming revenue originated from in-game purchases in 2010. And looking ahead, a staggering 95% of all global gaming revenue could come from in-game purchases by the year 2025. With so much revenue at stake, every free-to-play
Up to 75% of consumers are more likely to buy again from a company that knows them from their prior behavior, according to ARK Invest. It’s this concept that prompted the strategy of personalizing customer interactions and product offers. Today hyper-personalization takes the same concept and evolves it to a higher level. Hyper-personalization anticipates a customer’s needs
The global mobile gaming market is projected to generate $90.7 billion in consumer spending in 2021 , according to Newzoo. Since these games are free to play, you may be wondering how the market became so lucrative. In short, it’s from in-game enticements designed to help players progress past an obstacle, help them achieve a goal
Experts predict a 180% increase in the amount of data consumed globally from 2020 to 2025, according to Statista. That’s a growth of 116 zettabytes in five short years. At the same time, there will be an enormous disruption occurring across the customer support industry. Users continue to increasingly prefer and often prioritize digital interactions over
70% of customer interactions will use emerging technologies like chatbots, machine learning (ML) and mobile messaging by 2022, according to Gartner. As customer journeys continue to move increasingly online, the digital experience a company delivers within and across channels can make or break a brand. In recent years there’s been an enormous push across industries to
Gaming companies want players to have fun. But many don’t know they can leverage outsourced player support to elevate the gaming experience and drive additional revenue. Publishers tend to focus on metrics like lifetime value, average transaction rates, active daily or monthly users and average revenue per user. But customer satisfaction (CSAT), First Response Time
More than 9 in 10 companies plan to invest in customer feedback management by 2023, according to Bain – up from 74% today. What’s driving the increase? A need for more insights into customer perceptions, expectations and experiences. Successful businesses know that voice of the customer (VOC) feedback is a rich source of intelligence into company performance.
Nearly 8 in 10 businesses will invest in digital experience technology in the next 12 months, according to Forrester. The recent pandemic only accelerated this shift in spending. Forced into isolation, people around the globe became more reliant on digital contacts, making it all the more critical that businesses embrace a digital first strategy. Experts
In 2021 digital support interactions are projected to increase by 40%, according to Forrester. As a result, customer support is evolving into an experience hub wholly enabled by digital transformation. Digital transformation refers to the adoption of digital technology to modernize business by automating manual processes, replacing outdated technology and optimizing customer experiences. But none
For businesses, customer experience isn’t just important; it’s the cornerstone on which competitive advantage is built. In a recent study, 59% of post-Covid consumers care MORE about customer experience when they decide which company to buy from than they did before. In other words, customer experience will dictate purchasing in 2021. To put yourself in an
When it comes to analytics, things can get complicated quickly. In a world of big data and machine learning, most businesses have more data than they know what to do with. Some analytics software packages are so advanced it takes a specialized certification to use them. Delivering real-time insights across the customer journey, at each
We live in a data-driven age where brands want insights, especially customer-related ones. However, many companies hit roadblocks on how to collect intelligence and leverage it to improve the customer experience. Gathering data and mining it into actionable business insights can be timely and expensive – but well worth the effort. Here are five areas
On average, 95% of gamers are non-paying. Of the 5% who do pay, the top 1% are serious players who drive 80% of revenue. This economic reality means it’s crucial to create a vibrant, engaging gaming ecosystem with excellent player support for your VIPs and Whales. Delivering VIP customer support is not easy or for
Almost every business understands the value of delivering top-notch customer care in today’s hyper-competitive environment. Customers immediately recognize poor support—and that can lead to lower CSAT scores, negative online reviews, loss of revenue, and erosion of your brand. More importantly, premium support can drive customer loyalty, increase average spend, and promote positive word of mouth.
We all know that an App Store rating can make or break your game. Publishers think they can’t impact or change scores – but that’s not true. Engaging with players outside of dedicated support channels presents a unique opportunity for gaming companies to promote their game, collect data about player habits and opinions, and direct
Every business wants to secure a low price when it comes to securing services and goods. However, a low price is sometimes too good to be true – especially when you’re negotiating deals for complex products like business process outsourcing (BPO) services. Hourly agent prices can vary in this industry by as much as 200%.
You can have a successful work-from-home (WFH) model for Customer Support – if it’s executed well. As companies consider moving their teams virtual during (and post) COVID-19, they’re trying to understand the advantages around relocating remotely. There are many benefits as long as your internal team or outsourced partnered is skilled in customer support management.
Although the term “Quality Assurance” may bring with it some fairly sophisticated and far-reaching implications, the concept at the heart of it couldn’t be more straightforward. It simply refers to “an ongoing testing and/or evaluation activity that ultimately provides valuable insights into both the compliance and effectiveness of direct customer and business interactions.” It’s a
Over the last decade, in particular there has been an enormous level of disruption taking place across the contact center industry. Those who are still holding onto the “tried but true” best practices of an era that has long since ended are rightfully scared. Any change brings with it an incredible amount of uncertainty, and
a massive 60% of all small businesses permanently close their doors within just six months of a cyber attack taking place. When you also consider the fact that the vast majority of these types of attacks actually target small businesses in the first place, it’s easy to understand why this is such a big –
These days, customer experience isn’t just important – it’s essential to everything that you’re doing as a brand. It’s the cornerstone upon which your competitive advantage will be built, even in the must cutthroat of industries. According to one recent study, a massive 67% of customers say that they’d be willing to pay more for a great