When we think of producing jaw-dropping ROI for the business, improving customer experience is not always a strategy that comes to mind.
In fact, many businesses still view customer experience expenses as just a necessary cost rather than a profit-supporting investment.
However, you might be surprised to learn that with an excellent self-service customer portal, professionals can bring insane ROI to their businesses.
Let’s take a deeper look at these three examples that show there is proof in this pudding.
Insane ROI from 3 Customer Portals
With effective and strategic customer portals, we have seen first-hand that businesses have been able to:
1. Reduce Calls to the Call Center by 30%
Better customer experiences not only can increase customer satisfaction, but also increase internal organizational efficiency to bring down support costs.
That’s what Eatel, a U.S. based telecommunications company, did with their self-service customer portal. Having an online interface that simplified interactions and empowered customers to find information on their own, quickly reduced payment-related calls by 30%.
Businesses can use self-service to deliver real-time responses, using only a fraction of the resources required for one-to-one live interactions. According to Gartner, 40% of today’s live volume could be resolved in self-service channels.
Eatel is not only able to decrease their cost-to-serve and utilize their representatives for more challenging issues, but they are also able to place more control in their customers’ hands, who love being able to do more on their own.
2. Increase Online Payments by 50%
Yep, you heard that right, 50%! Most customers would rather go without than deal with the hassle of speaking to a live representation.
In fact, 53% of U.S. adults are likely to abandon their online purchase if they can’t find a quick answer to their question. But with self-service, businesses can remove these roadblocks to purchasing.
BSES Delhi, a utility company that distributes power to millions of people, was able to accomplish this and increase online payments by 50% with a customer portal that empowers their customers to:
- Pay bills and view billing history
- Easily find critical information and tips
- Track status of complaints and issues
3. Register Over 50,000 New Users
Enhancing customer experiences with self-service will benefit existing customers and bring in new customers.
Businesses that are able to deliver what users are looking for, a seamless experience on a single platform, will be able to attract and nurture more customers. Over 88% of customers globally already expect businesses to have an online self-service customer portal.
This is how insurer HDI Assicurazioni was able to garner over 50,000 new users within the first 6 months of their new customer portal launching.
Previously, customers did not have the ability to interact with the insurer in real-time, but now are able to submit payments, file claims, and manage and even sign up for accounts on their own.
ROI that Makes You Stand Out
With these ROIs, leadership should be racing towards getting an awesome customer portal built out!
But there still might be some uncertainty about the investment needed. Learn how to gain buy-in with this whitepaper.