Eliza is the owner of a newly-established start-up that has been doing well in the market so far. The start-up has been able to attain approximately 40 percent growth in revenue per annum. But, with the changing market trends, the profit percentage has gone really down. Moreover, there has also been a remarkable dip in the customer loyalty and retention score, and an increase in their churn rate.
Anxious about her current situation, Eliza analyzed the entire scenario and found that the major flaw lies in her customer service team. As per a report shared by Microsoft, approximately 96 percent of the consumers say that customer service is an important factor in their choice of loyalty to a brand. In 2018, around 62 percent of the Americans contacted some form of customer service, according to Statista.
Knowing the significant role played by the customer service division in a start-up’s success, Eliza thought that taking a team of customer service representatives on board will help in making things better such as, improved customer satisfaction, quick query resolution, increased profits, and improved retention score.
But, doing so would have added an extra cost to the company. Therefore, to keep the cost within the predefined budget and meet the desired needs, Eliza chose to opt for services by a business process outsourcing (BPO) company.
In the present scenario, outsourcing has become one of the most effective ways to manage one’s business processes better and with ease. It helps one attain a remarkable cost reduction while also helping them improve their tasks execution, business operations, and procedures. Additionally, it also aids in achieving an improved FCR, CSAT, and loyalty score.
Getting associated with a well-managed business process outsourcing services company can prove to be a favorable decision for any start-up. Some of the common reasons this may hold true are as mentioned below:
1. Optimized Business Costs
Outsourcing enables the best utilization of the business funds as well as allows one to get the requisite job done at a lower cost. The fixed business expenses such as staffing, training, and recruitment would turn into variables, hence, allowing the start-up to invest the funds in other important activities. This, in turn, would allow it to utilize its funds as well as culminate the need for any compromise to be made in terms of quality.
2. Focus on Core Business Objectives
For an organization to attain the desired growth and success, it is essential to focus on the core business objectives. While the back-office operations expand during the growth period, this expansion requires additional human and financial resources to handle the additional customer requirements.
Alternatively, this can be outsourced to a service provider. This is undoubtedly a better idea as doing so would not only assist in bringing back the focus on the core business activities but also allow the internal team to invest their time in research & development and focus on providing value-added services.
3. Flexibility & Personalized Services
Outsourcing your contact center services offers flexibility in the overall operations. However, it is crucial to make a wise choice as the needs for contact center services keep on fluctuating for a start-up business. Therefore, it is beneficial to partner with a contact center that can fix the gaps within the stipulated time and put the processes at the right place with minimal resistance.
For instance, a short-term spike in calls would require additional resources and that too at short notice. In such a situation, the start-up would require such a partner that can accommodate its needs as per its present requirements.
4. Improved Efficiency
Opting to outsource your contact center needs to an experienced outsourcing partner is a great idea to attain better results. Backed by years of experience, requisite knowledge and expertise in the customer service domain, the contact center agents can do a job much better than the start-up’s internal staff.
Moreover, the contact center agents are well-trained to handle such tasks with ease that, in turn, can also help in attaining better results while saving a lot of time and cost.
5. Saves Costs
Getting associated with an outsourcing partner for contact center services can be a great way to reduce expenses. For instance, outsourcing the call center needs an experienced contact center can save on a lot of hiring and training costs. This is because the start-up won’t require any additional resources to perform this function. The need for arranging any special training sessions would also end.
Overhead costs like additional infrastructure, rented office space, to name a few, would also end. However, it is always important to ensure that the outsourcing partner is reliable and can be trusted for its services to enable the start-up’s long-term growth.
6. Better Quality Control
The partner contact center is a professional service provider whose ultimate aim is to serve the customers better, attain a better FCR, and AHT score for the start-up business. To enable this, the contact center not only offers better training to its agents but also keeps a close check on the quality of their support services.
A professional contact center would have access to a lot of additional tools and resources for constant quality monitoring. Whereas, an in-house support team would never have access to such tools that, in turn, would limit their efficiency and won’t allow them to monitor their quality of service delivery.
7. Know Your Customers Better
Being aware of your customers’ choices, preferences, and expectations are very important. Having this information readily available can enable any start-up to strategize better and offer services accordingly. While gaining access to these detailed insights might seem complicated, it can get more comfortable by partnering with an outsourcing service provider. The service provider works in close sync with your customers that, in turn, enable it to develop a better understanding of them and retain them for a longer duration.
8. Streamlined Process
Outsourcing your contact center services to a reliable partner can help in streamlining the internal processes. When tasks like, resolving customer queries and handling their requests, are outsourced, it can get more comfortable for the start-up to streamline its internal processes. Since there are a lesser number of people involved in customer and project handling, it gets easier to speed up the decision-making process and minimize the risks of any business loss.
9. Improved Focus On Scalability Goals
Every start-up aims to grow faster and expand its business operations. To attain this goal, a start-up needs to have a clear vision with minimal distractions in the form of peripheral tasks. It also needs to keep its expenses under check.
For instance, the expenses of a contact center can be minimized by outsourcing this function to an external partner instead of hiring a full-fledged team internally. Doing so would keep the stress of hiring additional workforce away, hence, allowing the start-up to focus more on its long-term goals.
10. Builds Brand Reputation
Seeking services from an external call center can help in building a strong brand reputation of the start-up. Call center executives are available to provide the required assistance to the customers and handle their complaints and queries discreetly.
This, in turn, makes it possible for the start-up to focus on its success goals and work towards attaining them. Being readily available at the customers’ service, the contact center services can serve as a great help in building brand reputation and attract newer clients to the business.
Take Your Business Higher With Seamless 24/7 Support
A start-up business faces multiple challenges. Therefore, it is best to outsource a few of your business operations and invest your time in generating better sales and leads. Being available at your customers’ service 24/7 can also be a great help as it will not only keep the existing customers happy but also help in expanding the existing clientele.
The need of the hour for the start-up businesses is to focus on offering reliable customer services, and they will surely be able to lay a foundation of a prosperous and flourishing business. Whenever they need you, be ready to offer your support; and they would happily be there for you to aid your improved growth and revenue.