Good companies are always looking for ways to better serve and connect with their customers. It’s how they win new customers and how they retain the customers they already have. In fact, a recent study conducted by Harris Interactive states that 89% of consumers have stopped doing business with a company after experiencing poor customer service. Add to this that according to Bain and Company, a customer is four times more likely to buy from a competitor if the problem they experience is service related vs. price or product related, and you see a pattern forming.
Customers want good, accessible service and information from the companies with whom they do business. One of the ways that companies are effectively enhancing their customer’s experience is through the use of omnichannel solutions.
Omnichannel is a multichannel approach to customer experience and customer relations that seeks to provide the customer with a seamless experience whether they are connecting with a brand from a desktop computer, mobile device and even via print resources.
This approach allows a customer to find the information they are seeking about their account easily because no matter how they are interacting with the brand, the information is delivered in an easy to navigate manner.
The omnichannel approach is not only useful to the customer but because of technology advancements, it’s easy for a company to implement.
Brands provide one stream of raw customer content to their data management team. The data is cleaned, optimized and programmed, and based on the information from that one stream, multiple streams of the data can be created and formatted in a variety of ways depending on how the data needs to be accessed. This allows the customer to access their account information how they want, when they want and can even be updated in real time.
Some examples of how omnichannel solutions are being employed in real world examples include ID cards, plan welcome kits and explanation of benefits documents in the healthcare industry. The financial industry is seeing omnichannel solutions proving useful in the delivery of 401k statements and monthly account statements and even plan projection documentation.
Not only does the use of omnichannel solutions help to solidify relationships with customers, it also provides additional marketing channels for the companies that employ them.
The ease of use of a service-based company’s systems is a benefit that consumers seek when determining the brands they want to do business with. The White House Office of Consumer Affairs states that satisfied customers who get the information they seek easily or get their issue resolved will tell 4-6 people about their experience. When you consider that according to Nielsen, 84% of consumers say they either completely or somewhat trust recommendations from family, colleagues, and friends about products and services, these recommendations are clearly considered trustworthy and can thus make or break a company in the eyes of the consumer.
If none of this has convinced you about the benefits of omnichannel solutions, how bout one more benefit? Omnichannel solutions offer fast, effective tracking of client interactions. Through these solutions, a company can track how information is being requested and accessed by customers and use these metrics to adapt their processes to better adapt to how customers want to interact with their brands.
When you consider that it is 6-7 times more costly to attract a new customer than it is to retain an existing customer, you can see that retaining customers is a vital part of good business today.
Omnichannel solutions allow a company to offer better customer service because it caters to the customer’s wants and needs for their data. Customer’s have a choice about how and when they interact with your company which makes you a better resource to them. An easy, pleasant experience with a company is one customers want to maintain and will keep verse going to another company.
If you’re not currently taking advantage of omnichannel solutions for your organization, O’Neil can help. We make it easy because we do the heavy lifting. The ability to track and record data from channels allow you to be smarter about how you communicate to clients, making the relationship easy.