Like it or not, statistics say that 90% of customers wouldn’t think twice before switching to a different brand / company if it offered better customer support. Concomitantly, companies that prioritize CX have recorded up to 80% revenue increase on paper.
Almost half way through the decade, 80% businesses (and counting) have recognized CX as a competitive differentiator; one reason why, the global call / contact center outsourcing market was valued at $94.02billion in 2023, and is estimated to touch $225.04billion by 2033 (CAGR9.12%).
In a market that is already crammed with goods and services, striking a winning stroke solely with product USP is a near impossibility. This is especially for debutants that need to compete with the giants right from day 1. Good products and great logistics, have to be supplemented with exceptional Customer Service to ensure that 93% customers return to make repeat purchases and maintain loyalty with your brand. The pressure to perform being incredibly high and the run for profits having a million competitors to overtake all on the foundation of CX, trial and error in customer support is a luxury that many cannot afford. This is where professional customer care BPOs step in to step up the game.
Engaging customer care BPO services, though, entail investments. This prompts new brands / SMEs to wait until the right time to outsource. Teaming up with the right 3P vendor at the right time can generate multifaceted competitive growth oriented benefits that are assured to win sweeping victories in the competitive race.
Conversely, missing the right time can lead to a multitude of missed opportunities in terms of slacks / slowdowns, low / no returns, lost customers, brand image denting and many more.
Keen to know when is the right time to hire 3P customer service BPO for your company? Let’s find out.
When to Outsource Customer Care
Did you know, as per market statistics, customer-first operations can generate 700% ROI in a span of 12 years!
A Kick-Start Like None Other!
Statistics speak; 65% customers expect more than just basics from customer care.
Imagine launching brand with the assurance of 24/7 customer care, multi-channel support, multi-lingual capabilities, quick-resolution guarantees, timely follow-ups, polite / empathetic approach, memory of past interactions and very wait time. By offering these benefits, you have elevated your services to premium level; an advantage that customers cannot resist.
Your Business Has Picked Pace -
Statistics speak; it takes 12 positive experiences to balance 1 negative experience.
New products, new pin-codes, new countries new business domains; when your business grows exponentially, your customer base expands in tune with it. This can strain existing customer service resources, leading to longer response times and decreased service quality. Outsourcing can help manage the increased volume efficiently without compromising on service standards.
Your Brand Needs Specialized Skills -
Customer service is not a one-size-fits-all operation. Different industries require different kinds of expertise. For instance, technical support for a software company requires a different skill set than customer service for a retail business. Outsourcing to a vendor with specialized skills can ensure your customers get the expert assistance they need, thereby paving the way for high CX.
A Penny Saved Is A Penny Gained -
Statistics speak; outsourcing customer service can reduce overhead costs by 30% to 60%!
Establishing and sustaining an in-house customer care team includes expenses for salaries, training, infrastructure, health benefits, commissions, bonuses and technology upgrades, making it an expensive affair. Outsourcing helps manage these costs by enabling businesses to pay for services on an as-needed basis, eliminating the overhead expenses associated with maintaining an internal team.
You Need To Be Available Round-the-Clock -
Statistics speak; 50% customers (and counting) expect 24/7 customer support.
The world being a village and 3am being the new 7pm; Gen-X and Gen-Zs glued to their devices at odd hours and from all continents across the globe expect instant gratification of their queries at any given hour. Providing 24/7 customer service is thus a necessity; but in-house facilities can be challenging and expensive. Outsourcing to a 3P vendor in this scenario can meet round-the-clock support expectations without any added strain on expertize or internal resources.
Core Activities Demand Your Prime Time -
Statistics speak; over 40% companies outsource customer care mainly to focus on core processes.
As your business grows, you need to focus intently on core activities such as product development, marketing and sales. Outsourcing customer care allows you to concentrate on these critical avenues while ensuring that customers are happy, loyal and consistently engaged.
Guide To The Right 3P Customer Care Vendor
Assess Vendor Expertise –
Looks can be deceiving! So, never be too nice to not assess their expertise before hiring them. Review everything, from case studies and client testimonials to their licenses, certifications, scope of services, qualifications of experts and anything else that comes to your mind. A genuine vendor with a deep understanding of your industry will be happy to furnish all details to win your trust.
Is There A Trial Period?
3P vendors that vouch on their reliability and reputation, offer trials / demos of some sort. The phase can last anywhere from a couple of weeks to a month. This is good enough to judge the capabilities of the BPO and how far it can help you with your goals.
Technology and Infrastructure –
Did you know, 70% customers expect AI to improve their interaction experiences?
Your vendor should therefore, be armed with up-to-date tools and platforms that can support elevated CX.
Are The 3P Services Scalable?
In a span of time, you may transform from a small home- based start up to a midsized company; a fashion brand to a fashion and home store; a local business to an international sensation. So, choose a vendor that can scale their services to fit your blossoming requirements not just with respect to your transforming business identity but to support short term fluctuations as well, like upping support
during peak seasons or scaling down during slower periods.
Review Service Level Agreements (SLAs) –
‘Cuz a promise, is a promise… a promise that you make is a promise you don’t break!’ SLAs are little promises made by 3P vendors to define the quality and scope of their services. Review these agreements carefully to ensure they meet your expectations. Pay attention to key performance indicators (KPIs) such as response times, resolution times, and customer satisfaction metrics.
Cultural Fit and Communication –
A good cultural fit makes successful partnerships and this happens with perfect alignment of your company values with that of the 3P vendor. Always choose the one that is transparent, responsive and easy to communicate with.
Are They Multi Lingual?
Multilingual support is a key growth driver for any expanding business. More languages you speak; more customers you can reach out to! Therefore, make sure the BPO you choose has expertise in the language of states / countries you wish to establish your presence in the foreseeable future.
Consider Costs –
Different vendors price their services differently depending upon an array of factors like their reputation, infrastructure, scope of services, service rep experience etc. Usually, vendor's that offer scalable services always fit within your budget. However, it benefits to compare pricing structures of different vendors and the value they provide in relation to the cost.
Security and Compliance -
Ensure that your chosen vendor adheres to industry standards and regulations regarding data protection and privacy. Review their security protocols and compliance certifications to safeguard your customers' information.
The Art of Letting Go
Your business is like your child. So, it is only natural to feel that you need to handle important aspects associated with its growth and development, all by yourself. And just like a deeply loving, committed, caring, heavily concerned, sleep deprived parent, you keep losing your best to give in your best.
So, sometimes, it is in best judgment to let go and allow the professionals do what they do best for your success! All you have to do is to know when’s the right time to let go and who to let-go
to. The rest falls in place like a round peg in a round hole.
Reference:
https://livehelpnow.net/blog/
https://www.enshored.com/how-
https://www.
https://www.zendesk.com/in/
https://gearinc.com/when-to-
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https://www.icallservices.com/