5 industries where customer support reigns supreme- How to maintain long-term relationships with your customers
Customer support is the backbone for all industries that aim for impeccable customer experience above other operations. Let’s have a look at these:
It is non-debatable to say that every enterprise has its own priorities. While for some sales and marketing may hold a paramount importance, for others hiring highly-qualified professionals to build a better team might be the end goal. However, for a few industries, customer support is the backbone of their existence- the absence of which can lead to a high rate of customer loss.
According to Harris Interactive, friendly employees or customer service representatives make a memorable experience- that causes around 73% of the customers to stick with a brand. (for industries that it is important)
Delighted customers lead to lower acquisition costs and become advocates of your brand for other potential prospects. Needless to say, for a few industries, achieving retention through successful customer service defines their core functioning.
5 Industries where customer support is non-negotiable:
1. Fintech- Financial technology is an industry which delivers financial services with latest tech innovations. While this industry has been there for a long time, it has made significant progress in the last few years. This growth can be attributed to the huge customer value from people around the world who wish to leave the traditional methods of banking behind and have an easy to access solution. To compete with the good old banks that still run on traditional methods of financial transactions, it is important for this industry to retain its customers with proper support and hand-holding.
According to a study, financial education is one powerful way for the Fintech industry to improve customer loyalty. Around 82% of retail clients say they would place more trust in their financial institution if it provided annual continuing education that helped them to better understand and use financial products.
2. EdTech- New online and innovative products that can be accessed outside the conventional classroom often require support for parents and students. As the pandemic of 2020 has led most institutions to operate with online learning, it is imperative that ample amount of support is provided to those who leverage it. To ensure this, the EdTech industry is taking all measures to offer excellent service to their customers.
It is interesting to note that many enterprises believe that just 21% of their customers leave due to unsatisfactory customer service. On the other hand, they are of the notion that around 48% of them leave due to high costs. However, in reality, around 73% of the customers leave a service because of lack of proper information and support- which shows the importance of efficient customer service in the EdTech industry.
3. SaaS- Customer support is a new buzzword in the Saas-based industry. The new perspective is that enterprises should take a hands-on approach with their customers so that they don’t face any kind of inconvenience while utilising their product/service. Since it works on a virtual model, most customers do not meet their service providers physically, which means that they require ample support to understand every minute detail of the product they have/are going to purchase.
A study conducted by Gartner shows that around 64% of SaaS users find customer experience more important than price when they are purchasing a product. To ensure customer success, it is thereby important for this industry to take charge of their customer experience and design a scalable support structure by offering a variety of communication channels.
4. E-Commerce- It is estimated that 95% of purchases will be made online by 2040- as digital shopping has taken the world by storm, it is an established fact that most customers will require some kind of assistance due to lack of physical retailers. This can be owed to high volume of support requests, common queries pertaining to products, complaints and returns as well as the need for fast response time. Amid such concerns, your customer experience may make or break your reputation.
It is not surprising to note that around 33% of customers choose to withdraw from a platform when their requests are unattended or unfulfilled. Moreover, they are likely to convey their experience to other potential buyers who might take a step back even before trying the platform. Hence, catering to every customer and their request can be a pain point for most fast-growing platforms which can be solved with prompt customer support service.
5. Logistics- In the logistics industry, only having a good supply chain plan in place is not sufficient- it is also necessary to have a good customer relationship with ample support for smooth flow of operations. There is a huge scope of having innumerable queries throughout the whole process of transportation, beginning from the shipping to reaching the final destination. A single mistake in the whole process can lead to breakdown, which directly impacts the overall customer experience.
A study suggests that around 60% of clients quit working with a brand after just one poor client assistance experience. Moreover, almost 67% of these customers’ agitation can be averted if the client’s concern is settled to satisfaction during the first communication itself.
For any fast progressive enterprise that is expanding exponentially, the supply chain can get more intense- which means that it can get more challenging to maintain a good customer rapport without a smart customer support system in place.
Go smart with GigIndia’s gig-based customer support
The gig or an on-demand business model is the new fad that most industries are adopting for better management of their customer services. GigIndia provides a pool of gig workers (Giggers) from 14+ vernaculars who are specifically trained to cater to your industry and serve your customers under your niche. Be it any industry, our automated customer support programs are customised to suit your requirements and provide a personalised communication experience to your stakeholders on both demand and supply end.
Now shift your focus to other important operations while GigIndia helps you to achieve customer satisfaction with its successful combination of gig model and automated workflows.