Social customer service is a necessity businesses can’t afford to ignore. Customers are demanding more from social service, and businesses are struggling to keep up. A report from Conversocial provides a detailed look at the concrete benefits of investing more in social customer service.
On behalf of Conversocial, market research agency Forrester Research constructed a composite company called Acme Telecommunications, based on interviews with enterprise leaders using Conversocial’s platform. The company employs 50,000 people, 1,000 of whom are customer-care agents, 30 specific to social. The customer-service representatives deal with 500,000 calls and 30,000 social conversations per month.
Based on the Acme profile, making the switch from phone-based customer service to a social customer-service platform significantly reduced costs for the composite company. Over a three-year risk-adjusted period, the company would have seen its customer-care cost decrease by more than $1.45 million. Additionally, cost per contact could be reduced from $6.15 to $2.30 when switching from phone to social.
This case study confirms what we’ve already seen with real businesses: Not only is social customer service necessary for dealing with issues quickly, it can also improve overall business results. The overall return on investment, as projected during simulations, was 272 percent, with a payback period for investment of just three months. Companies also discover more efficiency through the use of integrated customer-service platforms. These efficiencies lead to more a more robust social presence, increased brand value and incremental sales increases.
For more information, download the full report.
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