To pace business growth, people invest in resources and infrastructure. In order to understand the impact of the investment, it is essential that the ROI is reviewed. While considering the investment gains from business, invested in customer support software, it is necessary to know the following:
- How much you are investing in it
- How much you earn from making that investment
The products, services and solutions that all businesses are offering in today’s scenario are consumer-centric. Therefore, the customer experience drives a significant number of sales. Here is how one can determine the ROI a business can drive from customer service solution:
Identify Key Performance Indicators
As a business varies, so does the products and services. To fulfil the desired business objective, every business determines metrics to track the consumers’ journey and the support offered by the customer service team. Many businesses track the overall increase in sales, subscription upgrades for the current customer base, new users added, retention rate, etc.
For a customer who shows intent in a product or service shall be guided at every touch point by the helpdesk professional. It is viable by having customer service support software in place which can help the representative tap the potential lead at every step and guide it to successful conversion. For businesses, the journey doesn’t end here – a happy customer can become a loyal one. The determinant can be termed as Customer Satisfaction score (CSAT), and to make it reach a point that it reaps benefits, customer satisfaction shall be the foremost priority.
Lay down ROI Hypothesis
Once the business has set the parameters to judge its performance, the next step is to understand the impact of customer service solution. For every business, the approach and actionable varies; however, the fundamental logic one can drive is by mapping the Net Promoter Score (NSP) with the revenue the company generated. The NSP score for a customer means how likely the person recommends the brand to others and purchase from them in the future. If a customer is found to have high NSP score owing to the activities by the support centre, then it is a positive investment.
Assess, Analyse and take Action
A customer service management software has several features that the business can leverage. People in the process of determining the business impact can gauge how customer friendly the service desk software is, which actionable drive profits and chart out an effective strategy that brings out the desired results.
One of the advanced solutions that has helped businesses like Ola, Jabong, Myntra etc. to scale up their efficiency is Ameyo Fusion CX. The customer service software is designed to optimise service desk representatives’ efforts and deliver customer delight. As per a report published by Harvard Business Review, titled ‘The Value of Customer Experience, Quantified’, researchers have found that among thousands of customers studied, the ones who had an excellent experience spend 140% more as compared to those who have had an unworthy experience. The study makes it evident that driving consumer satisfaction can directly fetch better ROI on investment.
