What is Customer Experience?
What is customer experience?Customer experience (CX) is often defined as the overall interaction of the customer and organization for a certain period of time. This interaction constitutes the following: customer involvement, customer journey, and the environment.
Having a positive review on each point of contact means that the customer experience is pleasant.
Customers’ involvement may range from emotions, whether rational or irrational, to physical needs, or psychological needs. Moreover, it can extend from the simple act of talking with customers up to the product packaging, features, reliability, and affordability.
Overall, a positive customer experience is an excellent competitive edge that your company should provide in order to stay competent and successful in the market.
Why is customer experience important?Providing an excellent customer experience is important for any business. The better CX you deliver, the more customers you will gain and retain.
Additionally, service representatives would have to deal with lesser customer complaints and product returns.
A company with a great CX is projected to earn:
More loyal customers
Increased customer satisfaction Positive reviews and recommendations Customer experience outsourcingOutsource Accelerator provides you with information about what to look for in outsourcing companies that can help you create a platform that encourages a positive customer experience.
It is important to work with someone who can help your customers have a memorable journey with you, which is essential in achieving customer loyalty. After all, customer loyalty is the foundation of brand recognition and credibility in the market.
Outsourcing helps you work with professionals who are well-versed with the right skills and experience to implement customer service strategies that work.
What is Customer Churn?
What is customer churn?Customer churn refers to the cessation of the customer's relationship with the company. Companies determine customer churns upon the establishment of a predetermined time period wherein the customer should re-engage with the company but did not. Online businesses encounter many customer churns, which are evident in the decline in the number of site visits, as well as purchase of services.
In combating customer churn, businesses should take care of their customers through proactive communication, constant updates, and friendly representatives who can always provide a positive customer experience. Having the best methods to build a long-standing relationship is more comfortable to achieve with the right people helping you. Outsourcing can help you work with the competent people in this area while you focus on innovation and growing your business.
Customer churn preventionDecreasing the possibility of customer churn can be crucial to business growth. Outsource Accelerator, helps you battle customer churn by providing you effective, proven, and research-based ways on how to maintain a good relationship with your customers and how to stay relevant and wanted by your customer circle. Outsourcing your marketing and customer service functions can help you focus on your long-term goals.
What is a Customer Service?
What is customer service?Customer service is a process of delivering a product or service to a customer in an efficient, accessible, cost-effective, and satisfying manner. It is creating a relationship that involves trust and builds loyalty, even after the delivery is made. Customer service is knowing how to deal with customers and understanding their needs and wants. It is finding what customers want during the entire process of delivering the product or service.
Excellent customer service is knowing when to ask the right questions to get the correct answers. It is listening wholeheartedly to your customers as if you’ve known them for a very long time. Excellent customer service is learning to adapt and provide solution to each individual client. It is discovering the right level of judgment then and there. Most importantly, in-depth knowledge of the products or services you offer is the ultimate foundation of a great customer service experience. Communication skills, creating the right environment, and being friendly aren’t enough if you don’t have in-depth knowledge of the product or service that your company offers.
Outsourcing of customer serviceOutsource Accelerator provides you the best customer service outsourcing companies in the Philippines, where you can save up-to 70% on staffing cost. We have over 3,000 articles, 200+ podcast episodes, and a comprehensive directory with 700+ BPOs… all designed to make it easier for clients to learn about, and engage with, outsourcing.
What is Business Process Outsourcing (BPO)?
What is Business Process Outsourcing BPO?Business Process Outsourcing (BPO) is the engagement of services from a third-party provider. BPO uses various technology-enabled services to hasten the delivery of services. The business activities could be back-office such as, but not limited to, payroll, accounting, human resources, or front office jobs like customer service, sales, and marketing, etc. In the case of content providers, these business activities could mean hiring writers, remote editors, or virtual assistants.
BPO speeds up processes and enhances efficiency. Companies that outsource some of their business activities use their time on core services and competencies. With this shift in focus, companies improve their current processes that may result in improved customer satisfaction. BPO helps companies divert their resources to more critical business strategies. Often, companies find it impractical to hire a full-time position in-house because of the cost associated with doing so.
How does Business Process Outsourcing work?When a business engages an external specialist to manage and operate some of its internal processes, it's referred to as business process outsourcing. Such ‘processes’ include customer service, accounting and finance, or sales. It is different from hiring an agency to do specific tasks, as the outsourcing provider (BPO) is more concerned with the ongoing production of labour-intensive tasks, instead of the higher-level strategy and guidance.
Now, business process outsourcing has broadened and is more akin to staff augmentation, or staff leasing.
What are the benefits of business process outsourcing?There are many benefits to outsourcing, as well as some downsides and risks. The common benefits include:
Cost savings: significant savings of up to 70%, leveraging the lower global salaries Global market: access to a bigger employment pool of talent Global presence: having operational across the globe increases trade opportunities Flexible workforce: reduces internal local labour and employment compliance obligations Leverage skill: leveraging the skills of other specialist companies Focus: enables the client company to focus on their core functions
Business process outsourcing examplesThe business process outsourcing sector is a vast industry, generating over $200bn annually, and employing many millions of people worldwide. Some examples include:
Big enterpriseFacebook and Uber outsource many of their operational functions, including content moderation for Facebook, and customer service for Uber
Medium-size businessesA medium business with 50-500 staff might outsource the labour-intensive accounting and finance functions to a team in the Philippines.
Small business and entrepreneurIt is common for small business owners to have a Virtual Assistant (VA) working for hem full time, remotely from the Philippines.
What are the different types of BPO?The type of business process outsourcing can be characterised by their specialisation, location, and size.
Generalist or specialist BPOsBusiness process outsourcing is in the human resources and professional services sector. However, their services extend across all industries. The majority of BPOs are generalist, in that they offer a full range of professional services, although some specialise in certain verticals (ie accounting, or animation).
LocationBusiness process outsourcing typically operates form developing nations such as the Philippines, India, and Colombia. They typically have cheaper cost-of-living and bigger populations. Different locations offer different advantages.
Size of BPOThe bigger BPOs employ more than 250,000 people. They are huge, global operations. Medium-sized BPOs range from 500-5,000 staff and offer a full range of services. The smaller BPOs might have 1-500 people.
Functions of business process outsourcingCollectively, business process outsourcing provides any kind of staffing solution. Common functions of BPO include:
Finance and accounting: operational, technical and specialist functions Healthcare: various functions of the backend of the healthcare and health-insurance industries Creative and content: everything from post-production of Hollywood movies to newspaper and website content Tech, IT and development: network management, web and app development and maintenance Sales & customer support: ongoing sales and customer operational support and delivery Marketing: ongoing marketing, communication and branding activities Talent and HR: externalising the management of company HR, recruitment and compliance Administration: general business administration and operational activities Top BPO companies in the world's top outsourcing hubsA wide range of BPO companies in different parts of the world provide utmost services to their Western and local clients. Many of them have even earned awards and recognitions by award-giving bodies due to their performance on both the roles they take and on their way of taking care of the employees.
Check out the top BPO companies in several outsourcing destinations below:
Top BPO companies in the Philippines Top Indian BPO companies Top South African BPO companies Business Process Outsourcing (BPO) servicesOutsource Accelerator is the most trusted source for independent information & advisory for Business Process Outsourcing (BPO). We have over 4,000 articles, 200+ podcast episodes, and a comprehensive directory with 700+ BPOs… all designed to make it easier for clients to learn about, and engage with, business process outsourcing.
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