The customer experience (CX) is a critical component of any effective business strategy and customers hold the key to a successful business in any financial climate, yet during economic downturns, CX is often sacrificed to cut costs. So right now, when experts are warning us about a global recession, how can you manage the balancing act of CX and budget without compromising on customer satisfaction?
Technology with a Focus on CX
Now is a great time to consider technology solutions such as branded calling, chatbots, voice analytics, or Avantive Solutions’ agent-facing Artificial Real-Time Intelligence bot named “ARTI” to create more efficient and consistent customer interactions.
ARTI can help reduce average handle time and customer escalations while improving first-call resolution and can assist agents in various departments such as sales, tech support, billing, customer service, and more. The use of voice analytics can dramatically increase the efficiency and scope of call reviews to identify key areas that drive a positive customer experience. Depending on your industry and goals, solutions like chatbots can automate contacts that require low emotional support when you have limited resources and branded calling can increase live answer rates for sales teams.
The right technology investments can provide immediate value and help you develop a competitive advantage in the long term.
Cut Budgets by Outsourcing
While there are continuing concerns with the United States labor market and a shortage of potential employees, there are a myriad of options. Outsourcing is one way to potentially save funds without taking away from customer experience.
As an outsourcer, we’re combatting the labor challenges by focusing on our employee-centric culture, including employee engagement strategies and incentives, which drive employee retention and recruitment. At our Tulsa headquarters, we’ve seen a rise in candidates who value a positive work environment that fosters career development and giving back to coworkers and the community. While this does not alleviate all the pressure, it allows us to continue to grow despite the economic environment.
Our offices in Mexico are in targeted areas with favorable candidate pools to drive successful recruiting. We still maintain the cultural and employee-centric activities, but the more robust candidate pool addresses the cost-effectiveness and workforce stability clients need.
Offshore and work from home are other alternatives that can help reduce costs and ensure business continuity. When viable for our clients, it further opens the recruitment pool while maintaining all the employee benefits expected from us.
Automation and outsourcing can be used together for scalable 24/7 operations that allow companies to be always on for their customers.
It may be tempting to focus on the bottom line and cut budgets during tough times, however, if you’re not thoughtful about it, you may be stuck with the negative impacts on your business after the downturn has ended. Learn more about outsourcing and add to the discussion on LinkedIn.