focus on money e-commerce
Online customer service: the challenge of change by Kurt Bager, CEO,Netop
banking
on online
T
48
he ecommerce market has dramatically increased in popularity over the past ten years, and shows no signs of slowing in 2012. With annual revenues exceeding £68bn last year, start up businesses must ensure that their services are adapted to the online consumer market or risk losing out. To take full advantage, businesses need to branch out and expand existing platforms to cater to those who prefer to spend money online. Sounds simple enough doesn’t it? Recent statistics though, prove this theory wrong. Without a doubt, the Internet has changed the way consumers make purchases and receive customer care. But with business revenue proving to be a struggle during the current economic climate, providing a good customer experience bolstered by good customer service is do-or-die. Therefore, now is the perfect time to solve those concerns by focusing your attention on your company’s most valued asset, the one
that keeps the cogs turning: the customer.
The changing nature of customer service Most industry figures estimate that e-commerce cart abandonment rates remain around the 60 per cent mark, a shockingly high level of attrition. Experts agree that customer confusion and lack of information is behind this continued trend, exacerbated by poor online customer service options. Once upon a time, great customer service was all about arming your customers with a free postal address, then came along the free phone number that they could call to speak to an agent at a call centre. This was followed by the customer service email address. It’s fair to say that consumers want answers fast, and the Internet only amplifies this impatience for real-time information and instant gratification. Solutions, such as email and telephone support often lead to lengthy wait times and frustrated customers, and disaffected customers nowadays take to the likes of social media as a means of expressing their displeasure. If a
March 2012 www.talkbusinessmagazine.co.uk
048-049_Online Banking.ga.indd 48
08/03/2012 12:13