How To Generate Revenue Through Great Customer Service
As veterans in the e-commerce industry, we’ve heard the A-Z list of ways that businesses use to generate revenue online. However, through the years, we’ve noticed that far too many brands tend to forget about a crucial aspect proven to generate revenue faster than any other: a well-rounded customer service experience.
With more apps, platforms, and software solutions emerging each day that help e-commerce businesses like yours improve customer service, there’s never been a better time to start focusing on how a high-quality customer service experience can generate more consistent revenue for your brand.
Join us as we dive into the top ways our very own TalentPop agents help our clients turn customer service into a revenue generator rather than a cost center.
1. Utilize omnichannel support and live chat options
The days of popping a simple returns page onto your website with your business’ contact info aren’t going to cut it anymore. Today, omnichannel is the new standard of support that customers have come to expect.
While phone and email support should always be available for customers who have in-depth inquiries or issues, we are now seeing a new generation of shoppers who prefer the speed and efficiency of live chat options.
Therefore, if you’re not using live chat on your website, you’re likely leaving money on the table by ignoring the communication preferences of an entire demographic of customers.
In fact, a study we completed in Q4 of 2020 found that customers who engaged with live chat had a 10% to 35% higher average order value and a 6 to 10 times greater conversion rate than customers who did not engage at all.
Why? Because shoppers who engage with live chat options and experience fast response and resolution times aren’t afraid of being left in the dust if they have to return or exchange an item after purchasing.
Let’s face it – we live in a world of instant gratification, and when we don’t receive a response quickly from a brand we’re considering purchasing from, our next thought is typically, “oh boy, how difficult will it be to exchange my items or get my money back if I have to make a return?”
Live chat options on your website that quickly answer and resolve tickets instill confidence in your shoppers which generates more revenue for your business.
Don’t forget about the power of SMS communication
Text messaging isn’t just for sending memes back and forth to friends (although we do love a good meme battle).
According to a 2022 study by Oracle, 95% of costs due to support calls can be brought down by offering texting as an option. Plus, shoppers often respond faster to SMS than email, which means your agents can process more tickets in less time without sacrificing the quality of the customer’s experience.
2. Upselling and cross-selling
When a customer service department focuses only on resolving issues and tickets, it becomes a cost center rather than a revenue generator. Don’t let this happen to your business. Instead, consider allocating more resources and team members toward cross-selling and upselling efforts.
Upselling and cross-selling are excellent tactics that your customer service department can implement that will not only increase your revenue by improving CLTV but also establish your brand as an expert in your industry.
However, it’s crucial to make sure your customer service agents are properly trained to upsell and cross-sell in the right way – otherwise, your agents can risk losing or irritating a customer by upselling or cross-selling at the wrong time.
To create a thorough training guide, start by reviewing the inquiries your agents typically receive from customers so you can identify patterns in the conversation. If you’re noticing gaps and opportunities in tickets for promoting additional products or services, work with your customer service team on phrases and easily-adapted scripts they can use for upselling and cross-selling your customers.
3. Implement subscription-management solutions
Subscriptions are the bread and butter for many online businesses today. If you have a product that you expect customers to be ordering regularly, you have a huge opportunity waiting for you.
Offering subscriptions on a monthly, quarterly, or yearly schedule to repeat customers will create a seamless customer experience for shoppers (one they don’t even have to think about) while bringing consistent, predictable revenue into your business.
One of our favorite subscription-management platforms, Recharge, helps businesses create lasting relationships with their customers through an easy-to-manage subscription payment solution. Try it for yourself today and experience the game-changing benefits of subscriptions for your brand.
4. Practice proactive outreach
Listen – people today are BUSIER than ever, and keeping up with the rat race can often mean that we forget to reply to the customer service agent we’re chatting with or accidentally abandon the cart full of sunglasses and bathing suits we were filling last week (who isn’t dreaming of a tropical vacation right now, eh?).
Proactively following up with shoppers can mean the difference between earning a huge sale and losing a potential customer simply because they got distracted before placing their order.
Try practicing the following outreach tactics to keep your brand top-of-mind for customers:
- Create an email sequence for shoppers who’ve abandoned their carts. The average click-through rate of abandoned cart emails is 21%, which means that 21% of people will actually click on the email and return to your website to potentially place an order. Plus, if you send multiple emails as part of a strategic automation, the follow-ups serve as a continual reminder to the shopper that they’ve left behind items in their cart.
- Use your live chat support services to reach out to users who are idle on a web page. Sure, spending 12 minutes on a web page can simply mean that the user popped onto another tab – but, it could mean they have questions that need to be answered before they place an order. Proactively reaching out via live chat is the digital equivalent of a store associate asking a shopper in person if they need help finding something.
- Follow up via email with customers who’ve reached out to customer service through live chat. When a customer is trying to process a return or ask a simple question, it’s all too easy for them to get distracted with work or other obligations and forget to reply. If they leave a live chat conversation unfinished, send them a follow-up email with a copy of the conversation transcript (and an offer to continue the conversation) so they remember where they left off with your agents.
5. Create an elevated customer service experience
Creating a high-quality customer service experience is truly the key to setting your brand apart and ensuring that your customer service department is a consistent revenue generator as opposed to a cost center.
Not only will a positive customer experience result in more repeat business (AKA higher CLTV) and more qualified referrals from happy customers, but 86% of consumers will even pay more for a better experience instead of seeking out a less expensive alternative.
To generate more revenue with customer service, we’ve dropped a few of our favorite tips below for elevating your brand’s CX:
- Keep response and resolution times fast.
- Give your agents the freedom to personalize and overdeliver (within reason).
- Offer discounts & loyalty programs for repeat customers.
- Maintain a record of customer interactions to create and update SOPs that will guide your customer service team through handling FAQs and recurring issues.
- Outsource customer service to a BPO like TalentPop to ensure your agents are trained in e-commerce platforms.
Outsource customer service to TalentPop to generate more revenue with a stellar CX
At TalentPop, we always go above and beyond for our clients to create a 5-star customer service experience, because we know better than anyone that CX is what sets you apart from your competitors and establishes a loyal customer base for your brand.
If you’re ready for the level of support TalentPop can provide, we’re here to help you make more money from obsession-worthy CX experiences and reframe customer service as a revenue-generating tool rather than a drain on your business’ resources.
To get started today, schedule a call with our team, and let us show you how outsourcing customer service is the best investment you can make this year.