Here’s What Business Decision Makers Say About Customer Service
Five9 has always made it a top priority to listen to what our customers are saying about our software and, similarly, how typical consumers perceive their own customer service interactions. It’s important to us that we keep a close watch so that we can use those insights to make a better product and create more positive customer experiences at the end of the day. This year, however, we decided to go one step further and commission Zogby Analytics, a polling firm, to help us create our first Five9 Customer Service Index.
We thought it would be interesting to ask two groups — business decision makers (BDMs) and consumers — similar questions to see if their attitudes toward customer service were the same … or different. Gathered annually, these insights will allow Five9 to track the behavior of BDMs and consumers. We aim for it becomes a go-to document for tracking how consumers view customer service and engagement, the platforms on which they want to engage, how to keep them connected to your brand and -- more importantly -- how to keep them as long-term, happy customers.
First, let’s look at how BDMs responded to the questions. Overall, respondents from the executive suite agreed on the importance of customer service for their businesses and considered it more important than customer loyalty (91% vs. 79%). Customer satisfaction leads all other considerations in its importance for companies’ business models, so it’s not surprising to us that 56% of respondents said they monitor it at least weekly.
Here are some of the other statistics that jumped out to me from the index:
- Respondents overwhelmingly agree that customer experience is crucial for their business to retain customers: 95% consider it important, including 73% who consider it very important
- Industries that rated customer loyalty as a top priority included financial services (88%), healthcare (83%) and retail (81%)
- CXOs valued customer loyalty more than any other job titles – 100% (ranged from 50% to 80% for other titles)
- While competitors’ customer service is not as important as a business’ own, it is still quite important –43% of surveyed decision-makers said it’s very important
In order to achieve high customer satisfaction, BDMs view customer service as a part of business that needs to be easily integrated with existing business processes. Particularly, respondents in CXO roles (80%) rated ease of integration very important -- compared to 50% to 68% for other roles. In terms of industries, healthcare (71.6%), business services (70.9%) and financial services (70.6%) said ease of integration is very important, while it’s much less so for education (57.4%) and retail (62.2%). Aside from ease of integration, when buying a new product of service, 61% of respondents consider trust in the company and the quality implementation process to be the most important aspects.
As a company dedicated to helping our customers undergo smooth enterprise digital transformations, we were interested to uncover that in terms of offering customer service, large enterprises viewed streamlined operations as a much more critical component of their digital transformation than smaller enterprises do—60% vs. 29%.
It’s clear from our BDM survey that customer service remains top of mind for business leaders in all roles. If it’s done well and made a priority, customer service and engagement can become a competitive advantage for a business in any industry. I encourage you to read the full Five9 Customer Service Index here. We’re looking forward to sharing the results from the consumer side of this Index mid-November — I think you’ll find the answers quite revealing about what today’s customers expect from the brands they engage with on a regular basis, and you’ll learn how your business can better serve them.