Vince Lombardi has rightly said, ‘It takes months to find a customer, and seconds to lose one.’
Customers are indeed the most important people in your business because it is the customers who run your business. So, when it comes to how much is the right budget to spend on your customer support, you must think wisely.
When the customers are baffled, confused, angry, or unhappy- they knock on the doors of customer support. Hence, spending on customer support is like spending in the right direction.
Today’s blog will discuss why spending on customer support is important and how much budget is appropriate for customer support.
What is customer support?
Customer support is basically a panel that is appointed for helping the customers with the recent or previous purchase/acquisition of the product or service.
In the product industry, customer support is a highly essential panel that needs to be appointed for assisting the customers on the correct use of the product or its features. It also includes clarifying the doubts regarding the product usage and features.
For example, if you are buying Samsung Buds by spending xxx amount. Later, you find some bugs in the product and are willing to talk to an authorized person to complain. The Samsung customer support will help you with the product bug, and if the product is in the warranty, it might also be replaced.
In the service industry, customer support is appointed to assist the customers regarding their doubts, experience, and concerns associated with the service.
For example, you have appointed a WordPress Development Company for designing and developing a website; later, you have issues and are willing to fix them. For the same, you shall contact their technical support team and ask for assistance. If you have signed for maintenance and support contract, the service shall be free!
Why is customer support important for your business?
So, you know what exactly is customer support. Now, we shall discuss the several benefits of having an in-house customer support team for your business.
Imagine you have purchased a product or acquired a service and have issues with it. Now, what’s the next step? You shall directly visit their website and find the customer support details to address your issues.
What if your product’s brand or service company has no customer support team to handle your issues? What would you do in this case?
You shall never buy a particular brand product again and even stop your friends and family from considering it on their purchasing list. Or if it is about a service, you shall never recommend it to anyone and leave a bad review.
A good customer service panel can do wonders for your business. Below are some of the reasons highlighting the benefits of having a customer support team.
1. Uplifts your brand image in the market
Having a customer support team helps with brand enhancement. The customers appreciate a brand with a customer support team more than the one without customer support.
2. Helps retain customers
The customer support team helps the customers understand and solve their problems regarding the service or product. When the customers are clear about the product features or service benefits, they can connect more with the brand. It helps them stay longer as customers, thereby enhancing the retention ratio.
3. Enhances business revenue
The customer support team helps the confused buyers become confirmed buyers, which ultimately helps generate more business revenue.
4. An advantage over the competitors
Having a customer support team helps your brand stay ahead of the competitors. It is an advantage of your competitor brands to have appointed a customer assistance panel for helping your customers with queries and confusion.
5. Better customer insights
Having a customer support panel onboard helps your business with a great understanding of the ICP (Ideal Customer Profile). You get a better idea of what the customer generally complaints about, which features are difficult to understand, what needs to be fixed, etc.
How much should you be spending on customer support?
Nice question, isn’t it?
When customer support does many wonders for your business, isn’t it advisable to spend a good investment with the best online or technical assistance?
Spend at least 10-15% of your profit on managing a good customer support team for your business. It shall help to retain your customers and help your business grow, thereby showing a fair incline in the sales.
An intelligent and well-managed customer support team can bring in better and needful customer insights that can help your company prosper. You can always do an in-depth R&D to understand more about your customers. Hence, spending on the customer support department by hiring a team is a wise decision for any startup or manufacturing company.
It’s a wrap!
Customer support is a crucial department for any organization. The said department acknowledges you and your team about the customer grievances, problems, issues, and suggestions. Any company doesn’t grow without solving these problems. Hence, spending on customer support is pretty advisable to keep your business growing.
Moon Invoice is an online invoicing software helping thousands of businesses across the globe with quick and smart invoicing features. We believe that our customer support team has always brought us closer to the issues that we never thought were important for the growth of our business. Indeed, we have grown by listening to our customer’s suggestions; and shall be doing the same in future.