Why a human on call is money in the bank
3 Ways Customer Service Makes You Money

As a business owner, you have to consider every single dollar you spend. Keeping your business in the black is your first priority. However, this assumption can cause problems - sometimes things get cut because they aren't traditionally perceived as profit centers even if they are. Customer service tends to fall into this category, but it definitely shouldn't; even if your business is doing well, you'll always remember the customers you lost because you couldn't get back to them on time. 

Why?

1. It actually makes you money

I can feel your disbelief from here. But - true fact - customer service, done right, makes you money, especially in certain industries or with certain target markets. If you're an emergency service company, and you bill extra for service calls after hours, having a customer service team to manage those will bring in more money. If someone calls your offices, and gets an after-hours message (or no answer at all), they're likely to move on to the next business that showed up on Yelp - that's a lost customer for you. 

A Forrester survey showed that 79% of people prefer to interact with customer service via a phone conversation (an overwhelming majority - email was the next highest at 33%), and if you have a customer base skewed towards older customers, then that percentage might be even higher. If someone can't find information they need to purchase on your site, and they can't easily get the information from your customer service phone line (often a problem with clunky automated systems), then that's very likely another lost customer. 

This is in addition to more intangible factors - for example, having a professional, pleasant customer service experience as a first interaction with a company gives an excellent impression to a potential customer, and is going to make you stand out head and shoulders above the competition. 

2. It saves you money

This applies specifically to managed customer service options. As a business owner, it's easy to try and do it all yourself - your work, the work of actually running the business, and handling all of the customer service. Not only is it difficult to keep up with, but your customers probably aren't getting the highest level of service they could be - because your mind is in a million spots at once. 

However, when you're checking out alternatives, hiring an on-site person to assist you looks like quite the ordeal - aside from the paperwork, you have to risk them being out sick, not being able to get to work because of the weather, and so on (which puts the responsibility back on your shoulders). This is what keeps business owners feeling trapped by their business, instead of happy with it. 

Meanwhile, a remote receptionist or virtual office solution give you 24/7 availability (with no overtime fees), less paperwork, and it costs less than hiring a full-time employee. And these services are more flexible - the amount of money you're paying depends on how much time they spend on the phone, as opposed to an in-office person that gets paid day in and day out, no matter how many customers they're dealing with. 

3. It saves your time, so you can make more money

Even though it's the most intangible, this is actually the most valuable out of all of these - because time is the only truly scarce resource. Once it's gone, it's gone, and it's never coming back. That's an hour of playing with your kids, eating dinner with your family, or sleeping soundly that you'll never get back. 

When customer service is done and done well, it's a huge load off your mind. It gets the information that you need (you've got an appointment with client X on day Y, at this location and time) without you having to actually do anything to get that information - which means you can spend that time on billable hours instead. 

Some business owners love doing their own customer service, and it's understandable; presumably, you wouldn't be doing what you're doing if you didn't want to interact with your customers. But look at it this way: trained professionals can likely provide a higher quality level of service than you can, and you can still leave a great impression on your clients and customers when you meet them face to face. You get to do the thing you're amazing at and focus on that, and your customers are better off for it. 

Bonus: It creates referrals

Last but not least, good customer service increases the chances of getting referrals. People who have a great experience with your business are going to tell their family, friends, and colleagues. That pays off - consumers are four times more likely to buy when referred by someone they know (Nielsen) and a study from Wharton School of Business showed that the lifetime value of a referred customer is 16% higher than a non-referred customer. 

Ready to see these facts in action? Head to our website - www.hastingshumans.com - and get in touch to see how we can help you. 
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