Customer Care Change up

CUSTOMER CARE CHANGE-UP Customers have had enough of waiting on the phone and getting the runaround. Each year, the collective consumer public thinks service gets a little worse. In every industry, customers are going mobile and turning to social avenues to fix their product and services problems faster and more efficiently. Take a look at the customer service industry and what consumers want changed. UNSATISFIED CUST OMERS Considering that more than 90% of customers are unwilling to do business with a company after a poor customer experience and most require an average rate of 12 good customer service experiences to make up for 1 bad incident, companies need to re-evaluate their relationships with customers. ANNUAL PERCENTAGE OF CUSTOMER SATISFACTION: 2010 GS% 2011 GI% 2012 s9% What are the leading customer service issues that would drive a brand switch? O Dealing with a rude, O Being shuffled around o Waiting too long Needing to follow O Feeling pressured from rep to rep. unresponsive representative. for a resolution. up on a resolution. to purchase. 33% 26% 10% I0% 6% 6% 5% 4% Learning that policies and Being forced into one pricing have changed without any notice. A None of the above. channel of communication, such as phone remail. The percentage of customers who believe businesses pay less attention to providing good customer service has increased. 50% 40% 30% 20% 10% 26% 32% 0% 2011 2012 INDUST RY IMPROVEM ENTS It can cost 5 times more to bring in new customers than to keep existing ones. Here's a look at a few important industries for customer service. O Disagree O Neither agree or disagreeAgree 100 80 60 48% 49% 50N 40- 28% 24% 28% 23% 28% 25% 25% 25% 24% 20 - %24 Finance, Banking. & Insurance Telecommunications Retail Hospitality, Tourism, & Entertainment Health Care Customers want the bigger brands to provide customer service similar to that of small businesses. 80% 76% 72% say small businesses provide a more personal customer service experience. believe that small businesses understand believe that small businesses know their products or services better. their customers better. CUSTOMER CARE Across all industries, there has been growing customer unhappiness with traditional call-center systems. 15 MINUTES OF LAME A majority of customers will only wait on hold for an absolute maximum of 15 minutes. More than 1 hour Less than 5 minutes 30 minutes - 1 hour 15-30 minutes 5-10 minutes 10-15 minutes Customer confidence in the future of traditional call centers isn't high. Only about a quarter of customers believe that customer service over the phone has improved in the last year. O Say it's improved O Say it hasn't changed Say it's worsened 26% 44% 30% WHAT C USTOMERS WANT FROM COMPANIES NOW The power of the customer has grown, and customers are now shaping the future of the service industry. They know what they want, and they're finally forcing companies to evolve accordingly. Customers are going: SOCIAL Social media isn't the most favored channel of customer service yet, but it's gaining adoption each year. According to a 2012 American Express study, 3 OUT OF 5 PEOPLE believe that including social media in customer service has generally improved response times. MOBILE Customers are on the go more than ever, and they're increasing their smartphone and tablet usage for customer service interaction. This means mobile social, as about 85% of the overall mobile social networking population will access Facebook from their phones each month in 2013, according to a Parature report. EVERYWHERE Customers are definitely ramping up their social and mobile interaction, but that doesn't mean they're giving up other channels. And the coming change of CRM to VRM will force companies to offer a more diverse yet personalized experience.or lose customers o competitors who will, THE SERVICE INDUSTRY IS CHANGING, AND ONLY THE COMPANIES EVOLVING ALONGSIDE THEIR CUSTOMERS WILL SEE A BRIGHT FUTURE. SOURCES | AMERICANEXPRESS.COM | AVAYA.COM PARATURE.COM | BUSINESS2COMMUNITY.COM Infosys Created by COLUMN FIVE