With ever-increasing competition in the market, it has become very important to create reliable communication channels between customers and service providers.
Sound customer service goes a long way in facilitating a lasting and loyal relationship between you and your clients. For this, it is essential to be available to them 24*7 across different channels, such as phone calls, social media, emails, chatbots, and SMS, among others. All this being said, it is important to ascertain whether you can manage your customer care in-house or whether you should outsource it to a company that specializes in the same.
To find the answer to this question, let us look at what Customer Relationship Management (CRM) involves as well as its advantages:
One of the most widely outsourced functions by companies is CRM. It involves hiring a third party that is an expert at offering support to your clients through a wide range of channels including those mentioned above. CRM provides the most direct channel for clients to interact with service providers. Companies opt for these services for three main reasons:
- To generate new leads
- Retain existing customers
- To formulate new strategies to maintain and expand the customer base
This is achieved by providing sound technical support, aggressive marketing strategies, and customer service. Do you think your company is capable of managing all these processes in-house?
Also, let us take a look at why most companies prefer Customer Service Outsourcing:
To provide 24*7 customer service:
In Customer Service Outsourcing, the provider can offer 24-hour customer support at a fraction of the cost you would incur in case of an in-house CRM team and operations. Plus, a team of customer service executives with excellent communication skills will be available round the clock for your clients. In addition, the provider is likely to have servers in several geographical locations.
Recruitment of skilled personnel:
The provider manages the entire staffing process right from recruitment to the training and management of a team of customer service agents. This can save you time, money, and stress associated with the same.
Easy handling of a large volume of calls:
During peak holiday seasons (especially in case of retailers), there is a sudden increase in the inflow of calls to customer service executives for a variety of issues. While your team is busy handling these issues, it is important for someone to be available at all times to respond to requests from clients. Your provider company is capable of handling this sudden increase in the volume of calls as it has already invested in the resources and infrastructure for the same. It makes these resources available to you at a fraction of the cost you are likely to incur if you choose to do it yourself.
With the help of a team experienced in handling all types of clients across several business verticals as well as all kinds of situations, the overall customer experience is improved greatly.
Efficient back-end operations:
CRM service providers are extremely flexible and can respond to the seasonal demands of any business promptly and efficiently. Since they have the latest technology at their fingertips as well as staff with the necessary expertise, they have the ability to scale up as well as scale down their operations as and when needed without compromising on the quality and efficiency of their services.
Last but not the least, as mentioned above, customer service outsourcing helps save a large amount of money for your company by offering CRM services at a fraction of the cost you would incur otherwise. This will enable you to utilize your capital more effectively and invest it in sales, marketing, advertising, and related activities to grow your business.
According to a research report by Global Market Insights, the outsourced customer services market was valued at USD 70 billion in 2016 and is estimated to grow at a CAGR of 6% from 2017 to 2024. The report also states that “A large number of firms are turning toward outsourcing to attain benefits such as minimizing overhead cost, enhancing operational flexibility, and increasing service levels.”
After understanding the benefits of CRM outsourcing, would you opt for the same? Do take a look at Freedom CRM, your very own customized CRM software solution to manage your business anywhere and anytime from your smartphone or tablet.