How Answering Customer Questions Can Help Maximize Your Revenue

It’s no secret that a bad customer experience drives people away and decreases their likelihood of spending any money with you. Therefore, if we look at that statement in its opposite form, then a positive customer experience will increase their chances of spending money. When surveyed, 80% of customers say the experience a company provides is as important as its products and services. Providing accessible and actionable information is an essential part of customer service. Knowledge is essential because the more information people have, or the more questions people have answered efficiently, the more likely they are to make purchases.

 

Thanks to smartphones, tablets, and computers, we live in a time of instant gratification. Customers want things quickly, that’s why so many people are willing to spend more money on shipping to get their purchases more rapidly. However, that phenomenon doesn’t simply stop at delivery services. Customers want the ability to get answers to their customer service inquiries as soon as possible. In fact, 63% of customers agree that customer service isn't as easy and fast as they’d like. 

 

People spend up to five hours a day on their cellphones; data shows that 92% of that time is spent on apps like social media, messaging, and entertainment. So it doesn’t come as a surprise that SMS customer support adoption is on the rise across many businesses. According to a report from eWeek, 52% of people would text with a customer support agent if it was an option. Additionally, 52% would prefer text messages to the channels most businesses currently use to communicate with consumers. Companies which cater to SMS text marketing, like Attentive, have seen exponential growth in the last few years, most notably since the start of the pandemic. In an interview with Forbes, Attentive co-founder and CEO Brian Long stated, “The world is changing so fast, and companies that can be very nimble and adjust are going to do the best. Things that can drive incremental revenue, increase online sales and make it easier to reach consumers are things that companies are putting to the front of the priority list—that’s really helped us become a priority.”

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Information makes people more comfortable and knowledgeable before making purchases. When asked, 46% of consumers say they would abandon a brand if the employees weren’t knowledgeable. If customers get the information they want, then you ultimately create a better customer experience. Something as simple as answering questions, leads to overall customer satisfaction that positively impacts long term loyalty and repeat customers. If you dig a little further, a satisfied customer will encourage the people they know to do business with you— ultimately driving revenue for your business at no extra cost to you. One study showed that travel and entertainment companies using automation, AI, and chatbots saw their customers recommend them 10-15% higher on average.

 

This is true for our customers who are using automated AI assistants to help with answering questions and providing consumers with information at scale. With the integration of these automated AI assistants, these brands are increasing their  consumers conversational capabilities and providing them with answers to inquiries beyond the companies most frequently asked questions whether it’s on Facebook Messenger, their website, or their mobile app. When surveyed, 58% of people reported to be happy to use chatbots for customer service queries. The Vikings were able to see a 1 point increase in fan satisfaction after expanding their conversational capabilities across more digital channels.

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Information in the hands of customers is just a good business practice and everyone is looking to maintain and build customer loyalty. If you're delivering accessible and actionable information to your customers, then you're all-but guaranteeing your own success. 

Do you want to learn more about how a Satisfi Labs can help your business? Get in Touch

 

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