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Home > Computers and Information Technology > Software > CRM & Customer Service
Implementing Effective Self-Service to Improve the Customer Experience and Drive Profitability
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| Published Date:
October 2006
Published By:
Yankee Group
Page Count:
20
Order Code:
R388-2278
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In today’s fast-moving markets, companies need to balance the relentless demand for profits with the often expensive task of devising a unique value proposition. To satisfy shareholders in the short term, most companies seldom look beyond a few basic goals:
- Increasing revenue by delivering differentiated products and services
- Decreasing the cost of sales, marketing and service initiatives through better execution
- Enhancing the customer experience to improve loyalty and reduce churn
Self-service business processes have been around for decades, as embodied in automated teller machines (ATMs), interactive voice response (IVR) systems and the World Wide Web. Today, many businesses use selfservice techniques to reduce labor costs by enabling customers to help themselves to information and resources. It’s a proven strategy for boosting customer satisfaction and reducing costs, but one lingering question remains: Why do so many companies have a hard time doing it effectively? In our experience, many companies have not taken full advantage of self-service business processes simply because it is difficult to strike the correct balance between keeping costs in check and ensuring a consistent customer experience.
Customer service is one of the few differentiators that a company possesses. As a result, well-executed selfservice is now a crucial and strategic component of the overall customer-centric business strategy; customers increasingly make it their first choice for primary interaction. To derive maximum value from self-service, companies must optimize the value of their customer interactions and not focus solely on self-service as a costsaving mechanism.
Self-service initiatives can help companies save money, increase revenue and boost customer loyalty, but only if they are based on accurate, cost-effective business and IT processes. As Exhibit 1 illustrates, these initiatives must establish a seamless, cross-channel experience that leverages a consistent knowledge base shared among all stakeholders.
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