The pandemic has impacted everyone on the planet, but it’s not without a silver lining if one chooses to look. One glowing example is that COVID-19 has “pulled forward” several macro trends that, while already in motion at a natural pace, have accelerated more than anticipated as a result. For many organizations in the tech industry, this is a huge win. For others, it’s time to catch up. Read more about how a lot of tech demand is probably being pulled forward right now.
Let’s examine some of the latest movements.
First is the work-from-home trend that initially had a slow start to adoption. COVID-19 made it a necessity for many organizations to remain in operation during the pandemic. Some of the old-school thinking of needing to watch over employees has now transformed into a culture of trust.
Next is the “nesting” trend. As people were forced to spend their free time at home, they started investing more into their home oasis. Companies like Wayfair, Overstock, and Amazon among others have especially been enjoying this trend.
When they do embark outside of their home oasis, people seek a variety of outdoor activities like biking, walking, and more. RV sales have skyrocketed during the pandemic as people found ways to enjoy the fresh air while avoiding crowds.
Keep up or perish.
People have adapted how they live, work, and play, and many of these new adaptations are here to stay. Tech is a principal contributor to how we survived the pandemic and how we live and work today. Digital messaging and automation also fall within this category as some of the evolution of tech we’re seeing today. When it comes to customer service, keeping up with the changing behaviors of customers and their new preferences is critical to a business’s survival.
Digital messaging is one of those behaviors that is practically second nature to today’s customers. If any of your customer demographic is under 40, messaging is critical, but those with older customers be warned. Even the older generations are catching on to messaging and see it as a convenient alternative to the older service avenues of voice and email.
While there are a host of additional reasons why brands should incorporate messaging into their overall customer care strategy, let’s focus on the three most significant:
1. Cost Avoidance: Optimized Efficiency Reduces Cost Up To 40%
The most significant reason to adopt digital messaging and automation is the ability to shed costs. Who doesn’t like to find a better way to do things (while dazzling their customer base)? Unlike voice, agents can handle multiple customer inquiries simultaneously by utilizing messaging. The ability for agents to handle many inquiries simultaneously versus a single inquiry with an agent on the phone enables efficiency (and effectiveness, more on that below) resulting in an operations cost reduction of up to 40%. Once you layer automation and artificial intelligence (AI) into the equation, the cost savings number soars up substantially. Today’s AI chat bot messaging can be so seamless that the customer has no idea that they aren’t messaging with another human.
Here is a perfect example:
OutPLEX led a global cosmetics brand to migrate their contacts from voice to messaging. As a result of our efforts, we were able to reduce their abandonment rate from 9% to under 1% even with an increase in volume quarter-over-quarter of 38%. Their customers enjoy immediate assistance with messaging instead of waiting on hold for the next available agent.
2. Channel of Choice: 69% Of Customers Prefer to Engage With Brands That Offer Digital Messaging
The next significant reason, and some would argue the most important reason, is the ability to meet the customer in their channel of choice: messaging. Remember we mentioned your customer demographic and the demand for messaging? Here’s some supporting data to that suggestion. According to a Conversocial and Facebook study, 69% of consumers prefer to engage with brands that have messaging as a support channel. There is no longer an argument that texting has eclipsed voice as a preferred communication method. When you meet customers in their channel of choice, brand loyalty increases. Combine that with the right strategy and automation, your CSAT/NPS also increases, resulting in a better customer experience, stronger customer loyalty, and lower total cost of ownership. OutPLEX conversational AI messaging (chat bots) can operate on a multitude of messaging platforms, including social media. This means your customers don’t have to go out of their way to interact with their favorite brands.
3. Revenue Generation: Hold Their Attention & Reduce Churn Rate Up To 67%
Finally, as consumers enjoy more choices, companies must work harder to gain and retain attention. Your customers’ buying process must be frictionless. In those “moments of truth” where they have a question about their impending purchase, customers should easily receive assistance to ensure a positive buying experience. Failure to remove customer friction can lead to 67% churn.
Here’s a perfect example:
OutPLEX works with a leading home improvement brand to ensure that their customers get immediate help when they encounter a problem purchasing through their online channel. Our conversational AI messaging bot handles nearly two-thirds of the inquiries without the need for a live agent. When an agent is needed, it results in incremental sales of 45%.
The spirit of winning…
When it comes to servicing customers, automation and digital messaging are perfect examples of that “pull-forward” trend. These solutions are here to stay and primed to grow into the channel of choice for consumers. At OutPLEX, we execute the world’s leading brands’ digital automation and messaging strategies. Our innovative thinking and proven value keep us competing against the largest BPO’s and winning every time!