YOUR CUSTOMERS PREFER IT
Research from McKinsey & Company, shows customers (specifically credit card customers) prefer email as a contact channel. Unsurprisingly, their least popular choice for communication is the telephone. Telephone communications are increasingly seen as time-consuming and frustrating, where email is less invasive and much more controllable by the customer. SMS or chat functions are also growing in popularity as the technology is being more widely adopted by companies.
IT SAVES YOU MONEY
It might seem counter-intuitive that expanding your communications offering would save you money, but it does provide cost savings. Offering omnichannel support reduces the need for inbound call agents as text-based communication, like email and chats, can be supported by fewer people. Additionally, Artificial Intelligence can be used with chat and SMS to handle simple inquires, and one employee is capable of handling multiple text-based communications at one time.
Not only will your staffing costs decrease, but improved metrics, including first contact resolution, and average wait time lead to lower turnover of staff and improved employee engagement. As replacing your staff is expensive, this will mean additional and unexpected cost savings for your business.
IT IMPROVES YOUR CUSTOMER EXPERIENCE
According to Aberdeen Group, companies with extremely strong omnichannel customer engagement see a 9.5% year-over-year increase in annual revenue and retains, on average, 89% of their customers. If you are not offering email, chat or SMS functions for your customers, your customers are less likely to reach out through the telephone. Quite simply, you are losing business opportunities by not meeting your customers where they are, not to mention the effect it has on brand loyalty and word-of-mouth promotion.
So, an omnichannel approach to your communication strategy is an essential step to your business growth and success. At M&G we have decades of experience in planning operational strategy and pairing businesses with the right contact center partner. We will help you build strategy and maximize the performance of your Business Process Outsourcing Partner. Contact us today to see how we can help.