28 Dec Keeping your customers intact: The Role of BPOs and customer retention in a competitive market.
In the present age, the market is highly saturated with tons of competitors. Thousands of companies are targeting a single business domain and sharing the same set of customers. The ratio of success depends on the services that your BPO is providing, the cost of service, and a problem solving approach. The first two things are the awareness stage, while the third one is the retention phase, where you either succeed or fail in retaining the loyalty of your customer.
The sole purpose of all the businesses is to generate revenue. The revenue can not be generated by only a one-time sale to your customers. You should not only fulfill your sales quota but also develop relationships with your customers.
As Bob Hooey said, “If you are not taking care of your customers your competitors will.” The quote highly emphasizes the role of customer-organization relations. Some companies have developed internal customer care service centers but now the trend is shifting towards outsourcing this department of the business.The major purpose of this is that these outsource companies provide 24/7 services, 365 days a year. The second purpose is that they provide these services at a considerably low cost because they specialize in carrying out these tasks. The company neither has to hire the resources directly nor does it have to provide an office for them.
All they have to do is assign the task of customer support to another third party organization. They will hire the resources, will carry out the activities and in the end they will be paid for all these services. That simple it is!The BPOs have played a major role in maintaining customer loyalty for the companies. They cater to the issues of the customers 24/7. They use all the mediums for communicating with them. Direct calling, text messages, direct mails, voice mails are some of the key ways. The 24/7 availability of the customer support center develops a sense of security among the customers. Such customers feel much safer investing their money than the customers of those companies who keep their customers at an arm’s length. The services which are offered by a BPO are debt collection, customer care support, direct mailing, voice mailing, text messaging, telesales marketing, supply chain handling and marketing etc.
You do not need to hire a specific staff for the fulfillment of these tasks, all you have to do is assign them to a BPO and in return focus on your new objectives, ideas and the market trends. This in turn helps in increasing the efficiency of the organization.
The biggest demerit in outsourcing is that the third party companies are responsible for maintaining the image of the organization in the minds of the public. Therefore, companies hire outsource companies with a good profile or excellent past record.Just like a class has a monitor or class representative to present their class, the BPOs play the same role. They represent the company in front of the customers and their performance completely affects the name of the organization.
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