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How to reduce company costs with better customer service

Reducing company costs can be a very challenging task, as most of the expenses businesses have can be justified. Programmers need extra monitors, designers need additional tools such as photobank subscriptions, and all employees need a little something extra such as fresh fruit or smoothies to feel appreciated. So how can you cut costs without removing tools that your employees actually need? With better customer service, of course!

You may ask yourself, how is that possible? Even though it’s not a very traditional method of reducing costs, it is very effective. Keep on reading to find out how improving your customer service can help you reduce company costs.

Some “background” information on why it’s important to continuously improve your customer service

If you haven’t seen the statistics yet, you’re in for a ride. According to Forbes, companies that strive to improve their customer service outperform those that don’t by nearly 80%, and their revenues are 5.7 times higher. Therefore, it’s safe to say that if you’re focused on providing impeccable customer service experiences for your customers, you’re already ahead of most of the companies out there.

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However, if you’re on the other side of this scenario and have been underestimating the power of customer service, you’re in trouble. At this point, it’s do or die. It’s time to rally your team and take proactive steps towards improving your customer service and the experiences you provide. If you need help getting started, check out this article about measuring customer satisfaction.

First steps toward reducing company costs

Do an audit

Doing an audit is the first step you should take towards reducing your company’s costs. An audit will show you exactly what you’re spending your money on. We advise you to do a comprehensive audit of all your tools, software, and subscriptions. You’ll be surprised at what you find! When conducting these audits, it’s important to ask yourself the following questions:

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  • How many tools do you have that do the same (or nearly the same) thing?
  • Is there a good reason for any overlap or is it just because some team likes one tool better than another?
  • Are all of the tools actually being used?
  • Are all of the user licenses you’re paying for actually needed?
  • If multiple teams are using the same tool, are you getting appropriate volume discounts? Or does each team have separate subscriptions?
  • Since technology changes regularly, are you sure you have the right tools for the job you’re doing today?

If you review these questions for each software, tool, and subscription you’re using in your business, you’re bound to find something that is no longer necessary or obsolete. Don’t forget, there’s absolutely nothing wrong with getting rid of tools that don’t bring added value to your business.

Assign account managers to your best clients

I’m sure you’ve heard this saying a million times —  20% of your customers make up 80% of your sales. Why is this piece of information so important? Because most businesses don’t treat the customers that bring in the most revenue like their best customers!

It’s extremely important for businesses so start treating the customers that are worth the most, with a special kind of attention. A great way to do this is to assign a dedicated account manager. The account manager’s responsibility is to reach out to these customers every now and then to make sure that they are satisfied with the service they’re receiving. 

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In this manner, you’re being proactive and making sure your customers are always taken care of, and that their problems are tackled before they even arise. By being proactive, caring, and involved in your customer’s satisfaction with your service, you’re nurturing your relationship with them and opening up possibilities of additional upsells and bigger collaborations. If you consistently take care of your customers and provide an excellent service, it’s very unlikely that they will stop using your products and services. In this manner, you’re securing 80% of your revenue. Not bad, eh?

The next step: Taking advantage of an advanced remote help desk software

It’s important to invest in a remote help desk software for multiple reasons. We’ve outlined them below.

Everything’s in sync

Remote help desk software can be used regardless of if you’re working remotely or not. The main benefit of it is that regardless of your physical location, everyone’s work data and progress are in sync. You don’t need to be scared of erasing a colleague’s work (as you would in Outlook), or of creating confusion by working on the same tasks at once. A remote desk software has you covered with advanced capabilities like the agent-collision detection feature. This feature warns you if an agent is already working on a task to prevent duplicate answers, saving your agents tons of time, and ultimately money.

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Automate your work life

Smart automation rules are a must-have for any remote help desk software. By utilizing automation rules, you’re saving tons of time. And because time is money, you’re saving tons of money too! According to BMC, the average cost per ticket is $15.56. To be an efficient customer service team, your agents should strive to resolve tickets in under 10 minutes, and the cost shouldn’t be higher than $20. 

To achieve this, your team needs to take advantage of automation rules and features such as canned messages, automated ticket distribution, rules, time rules, mass actions, and multiple ticket tabs.

Empower customers to utilize self-service

Customers love finding answers to their questions on their own. In fact, 67% of customers prefer it to contacting customer support. Therefore, it’s important to build a comprehensive knowledge base equipped with how-to-guides, articles, videos, forums, and FAQs that are available for your customers 24/7. In addition to keeping your customers satisfied, providing self-service will also benefit your agents and company. When customers utilize self-service options over contacting customer support, they’re saving your agent’s time and your money.

Get organized with “To Solve” buttons

The “To Solve” button is a helpful feature that acts as your manager. How? Well, it’s basically a feature that asks you to resolve a ticket in a certain amount of time. The feature does regular checks in the background, scanning for tickets that are unresolved but have an SLA priority. If such a ticket is found, the feature will notify you and ask you to resolve the ticket before the end of the day. The “To Solve” button can also prioritize tickets to be solved based on the amount of time they’ve been in the queue.

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Utilize smart routing

A remote help desk software automates your workflow for you. There’s no need to communicate verbally with your colleagues about who has what responsibility. A smart help desk software will automatically assign tickets to agents and departments according to priority, SLAs, current workload, and time rules. The software can also automate chat distribution, and create a max queue length when there are too many people waiting in the chat queue.

With the right help desk software, you can single-handedly eliminate confusion and save tons of time which would have been spent on manually assigning tickets to agents.

Not convinced yet?

LiveAgent has created an impeccable help desk software for remote teams in 2004 and has been improving it ever since. Not only will it make your agent’s life easier, but it will also increase the satisfaction of your customers because their service experience will improve significantly. With LiveAgent, you’ll never lose or forget a ticket. The software is organized and alert, so you don’t have to sweat the small stuff. Instead, focus on nurturing your customer relationships– especially the 20%  that make up 80% of your sales. Try LiveAgent today with our free 14-day trial. No credit card required.

How to reduce company costs with better customer service

Sona Pisova

Copywriter/ Star of Tutorials

I am currently writing copy and making videos at LiveAgent in Bratislava. I am a happy-go-lucky type of gal that enjoys reorganizing and cleaning in an obsessive manner. I roll my eyes a lot without knowing about it and it gets me in trouble. I also don't drink coffee because it makes me feel like I'll die, and my co-workers think it's funny.

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