Benefits of Outsourcing Financial Services.June 30, 2018
Service-oriented businesses and product sellers generally bank on customers’ reviews to strengthen their brand value and market reach. Therefore, these departments and contact centers are often found to be more invested in bettering customer experiences and methods that fulfil client needs.
Many successful businesses including some of the leading names in the Fortune 500 list reportedly outsource customer services operations to third-party organizations. Handing over the reins of serving a multitude of customers and addressing their queries to a back-office team helps to not only communicate via multiple channels but also increase brand loyalty for better business outcomes.
In fact, global companies relentlessly look for innovative strategies that help add a competitive edge and deliver superior customer services.
Below are five important reasons why firms should outsource their customer services:
- Cost Efficiency: Cost efficiency is one of the primary advantages of outsourcing customer support services. An offshore team or a back-office support that is specifically dedicated to attending customers can help manage calls, emails, chats, etc in large volumes. This helps bring down costs and expenses on investments for facilities, training and equipment that are needed for an in-house customer services department.
- Engage Only Talented and Experienced Personnel: Outsourcing call support and customer services to teams that are well-versed in handling customers and have sufficient knowledge of the products or services lead to better impacts on customers. This ensures better customer service quality, leading to customer retention.
- Increase Revenue: A major chunk of revenue can be generated through customer care departments by providing services that have a lasting impact on callers or customers. Companies use certain KPIs like conflict resolution, call-handling volume, time, etc to measure and increase performance that eventually translate to better sales.
- Deliver Multi-channel Support Services: By engaging third-party organizations that specialize in customer services and telecommunication support, companies can expand the scope of their solutions by leveraging multiple communication channels. A back-end customer support teams can handle and serve customers on platforms for voice mails, video calls, SMS, social media, live chats, etc.
- Provide Round the Clock Support: An off-shore that operated on different time zone or an additional set of customer services team would ensure 24/7 customer services. This would work well for global organizations with an international customer base and overseas departments.
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