How Enterprise Social Can Prevent Billions of Dollars Lost

Each year, more than $300 billion is lost due to poor customer service in businesses around the globe.  Read that again – $300 billion!  According to a report by Genesys, here are some of the most common customer service issues causing that $300 billion annual loss; plus, tips to help you avoid similar losses in your company.

Allow for multiple communication methods.  In the Genesys report, only 40% of customers preferred human service to automated self service.  More than 50% indicated they desired a new communication channel. Customers are looking to have an ongoing conversation with companies. With this in mind, businesses are starting to use dedicated “communities” within their enterprise social networks to engage customers. This provides customers with centralized communication for all questions and answers and serves as an archive of conversations and resources.

Proactive engagement.  The report also found 86% of customers would prefer to have proactive customer service. With a private community, businesses can address anticipated questions and concerns, thus thwarting complaints that might have been posted to external social networks. For example, if you realize there’s going to be a delay in your customer’s project, send them a quick message in their community.

Based on the history of communications in each community, you might also be able to identify customer patterns.  You will have a better idea of how to predict some of their questions or concerns.

Improved Customer Service Increases your Business Results

Take care of your customers and they will take care of you – it’s that easy.  However, sometimes you don’t know exactly what to improve. Private, enterprise social networks between your customers allow you to have better insight into their needs and improve customer engagement.

Did you enjoy reading this post?  If so, you might also like When Collaboration Meets Community – How Enterprise Social is Transforming Business.