Business Development Strategy: A High-Growth Approach

One thing the pandemic provided was evidence that the more agile a company is, the more it can cope with unpredictability. This evidence cannot be put aside. Unpredictability is not going away. Taking a high-growth approach to your business development strategy requires a look at more than just your sales and marketing but encompasses the processes, procedures, and systems that make the core of your business tick.

Let’s examine some answers.

What is a business development strategy?

First, let’s establish a working definition of a business development strategy. For a lot of companies, this means sales or marketing, but to develop a strategy that drives consistent growth, this definition needs to go deeper and broader.

According to business development expert Scott Pollack, the goal of business development “is the creation of long-term value for an organization from customers, markets, and relationships.”

Breaking that down:

The function of your business development strategy plan is to open up channels and make intentional connections to make deals happen. To reach your strategic business goals, your business development strategy needs to align your company’s processes and procedures to better leverage opportunities and relationships, acquire new clients, and enter new markets. Creating that alignment sets up a framework to meet your goals and create high-growth over the long-term. The plan is a set of actions towards meeting your goals and accelerating growth and profitability.

A few questions to ask about your strategic goals:

Considerations About Your Business Development Strategy

Startups Vs. Mature Companies

Where long-term value is placed or how it is achieved through customers, markets, and interconnected networks differs according to the maturity of your business. Start-ups are going to look at strategy and business development differently than more mature companies, but having a plan to identify and open up growth opportunities remains a vital focus.

Long-Term Value

The emphasis on long-term value means that business development growth strategies that drive growth and profitability do not rely on habit, quick fixes, fads, or a reliance on doing it the way it has always been done. A business development strategy is a plan for the long-game, and decisions need to be based on that insight.

High-Growth

A business development strategy is a plan to achieve business growth. Implementing a high-growth approach to your business development strategy involves planning to scale to achieve your business objectives.

Professional service firms will view scalability differently than businesses selling a specific product. Business development strategies for professional services will be nuanced with this in mind to facilitate growth. What innovations can be employed to enact that approach? What measurements should a strategy and business development analyst be focusing on to identify solutions for critical business decisions?

Business Process Development

A tactic is the “how” of going after what you want. If high-growth is your goal, then you need business development tactics that follow steps to create a business development strategy with a focus on high-growth. One tactic that is crucial to long-term growth and success is to ensure everyone is working towards the same business goals.

Business process development creates alignment for long-term growth through a series of actionable steps taken to achieve concrete business goals. Each step in the business process denotes a task that is assigned to a specified team member. By analyzing the system, you can extract the process, document it, and implement changes and standard operating procedures (SOP’s) that standardize each step and facilitate training. This aligns your team to work on the same goal and identifies gaps in the process. Those gaps can be staffed by virtual teams to extend your reach.

Some questions to ask:

This process stabilizes your business development platform, which in turn is the foundation that opens the gates for organizational growth over the long term. It weighs the factors influencing business growth and development and then aligns them with your goals.

Steps to be taken:

How can a virtual assistant help your business?

As mentioned at the beginning of this article, business growth depends on the ability to cope with unpredictability. Having the right personnel at the right time increases your ability to leverage growth opportunities and close deals. Hiring a virtual assistant gives you this ability.

Managing your time is a crucial skill at any stage of your business, but you do not have to do everything. If you are focused on scalable growth, then balancing time between operational and business development activities is less productive. It is more vital to allocate your time to leveraging opportunities and generating growth.

Investing in new methods and process workflows frees up time to:

Virtual assistants are the source of these innovative process workflows that free up your time to do income generating work.

Strategy is like a chess game, where you look for moves that strengthen your position further down the game, spotting ways to open revenue channels. When you hire a virtual assistant, your time is better spent on the strategy of the game rather than moving pieces around. Outsourcing time-consuming support roles gives you the space to act when the opportunity is ripe.

Scaling Up with Virtual Assistants

Virtual assistants are an investment to boost long-term revenue. A VA can boost your success by increasing your company’s flexibility and pinpointing opportunities for productivity and growth.

Outsourcing to virtual assistants can grow your business by:

Things to outsource to a virtual assistant include:

High-Growth Approach to Success

As 2022 gets underway and you plan a business development strategy that will yield the best results for your investment, looking deeper into your processes and procedures along with your sales and marketing allows you to build the agility needed for a high-growth approach to success. Focusing on what you do best and then creating a solutions-based plan to outsource the rest gives you the agility, scalability, and sustainability you need for long-term growth.

Top Customer Experience Trends for 2022

Improving the customer experience has been the focus of companies for some time. But what does this mean after the business and work-life disruptions of the past two years? How do current tech-innovations impact these improvements? Is it possible to make these improvements more agile and affordable? Let’s answer these questions by examining current customer experience trends. 

Why the Customer Experience Matters

Customers will pay more for a valuable experience. And providing it helps companies build trust with customers, which enables the sharing of data. This adds up to the customer experience being the playing field where companies engage in brand competition. To stand out in the field, companies need to provide a superior customer experience. What does the future of CX look like as we move into 2022?

Tech-driven Solutions

Customers expect their experience with companies to be tailored to their needs with consistency across all touchpoints. It can be a tall order, but by leveraging technology, companies can deliver fluid customer experiences from start to finish. 

Tech delivers on-target marketing to customers who are a good fit for their products and enables companies to build stronger connections and deeper relationships with customers to scale. 

Personalized Customer Experience

Customers expect personalized engagement with brands, products, and services. Companies earn trust with their customers by showcasing the personal value of what they provide. Tech makes this a relevant proposition by providing deeper, real-time connections through tech-driven solutions.

By reaching the right customer at the right time with the right product, technology provides the means to cultivate “micro-moments” with customers to scale. An opportunity in seconds where a company can identify a potential customer and in the same second act on it. 

Artificial Intelligence (AI), Virtual Reality (VR), and Internet of Things (IoT)

The level of engagement and quality of services is key to customer experience trends. These technologies can provide customers with a persistent, immersive online environment to connect, communicate, and interact in exciting ways over virtual platforms. This helps earn the trust of a customer in a refreshing way. 

Move from Anticipatory to Predictive

The use of AI to make auto-handling within contact centers better is bringing a personal touch to these systems. Augmenting automation with AI includes:

Using these technologies to improve written and spoken communication helps contact centers route customers to better solutions. Incorporating AI enables more intelligent routing based on data. It takes more into consideration, including customer personality, past inquiries, and situational circumstances, and processes it in real time. This provides valuable insights that improve the customer journey, moving it from anticipatory to predictive.

Human Connection Balanced with Automation

Automation, yes, but as we move into the new year, one of the most compelling customer service trends is a focus on the human connection in CX. Developing the customer experience with a balance between automation and empathy needs to be weighed moving forward.

Customers have strong feelings about automation, and it often creates a barrier instead of trust. A Chatbot is ideal for FAQs, but a human touch is needed to build trust. 

Providing this human touch in customer service involves:

Designing the customer experience to interweave intelligent data analytics at scale with empathetic human interaction will make your company standout from the competition.

The Customer Experience Hinges on Employee Experience

2021 brought disruptions. From the supply chain to the great resignation, businesses were forced to consider the customer experience and the employee experience. Workers have taken the time to re-evaluate what work means and what options different working situations can bring to their lives. Workers are looking for individual work-life strategies that work for their individual lives, giving meaning and purpose to what they do. So why is employee experience important to the customer experience?

One emerging trend is that the customer isn’t always right, not when that mindset sacrifices employee well-being. Stressed, frustrated employees do not create meaningful customer interactions. A company cannot see CX improvement without listening to employee feedback and providing the personalized employee experiences that workers are looking for. Upgrading your customer experience in 2022 means upgrading your employee experience too. They are hinged together.

Long-term Customers

Creating long-term customers is a primary importance when it comes to customer experience trends. According to Forbes, almost three-quarters of customers would stop doing business with a company due to a negative experience. This can translate into one bad customer experience equaling a lifetime of never again. That’s no way to run a successful company. 

Designing significant touchpoints for customers creates customer trust, and it is that trust that has customers returning. Increasing investment that will improve CX is an investment in the lifetime value of a customer. 

But not complaining does not equate to satisfaction. Customer loyalty and retention are keys that unlock company growth, despite market uncertainty and business disruptions. These keys are forged by:

An Affordable World-Class Customer Experience

Providing deeper personalization and the level of service customers expect is necessary to remain competitive in today’s market. In the past, helpfulness was often sacrificed in the name of automated efficiency. This did not improve the customer experience. It most often exacerbated it. It’s way past time to figure out how to provide world-class CX without breaking the budget. How do customer experience trends in 2022 play out without the budget falling out? 

Company-wide Focus

In an experience economy, customer-centric companies rise to the top. An organization needs to cultivate a customer-centric culture where everyone contributes to the customer experience to achieve that. It cannot only be the foray of customer service departments or sales and marketing but needs to move up and down and across departments. Everyone company-wide needs to see it as a part of their job. To do this affordably, building processes and systems across the organization need to be streamlined to put the customer in the center. 

This focus includes:

Remote Teams

Remote work catapulted to the stratosphere with the pandemic. It’s here now as an integral part of working life. Building stronger and more efficient remote teams moving into the new year is a part of building a world-class customer experience. Engaging a business process outsource (BPO) partner affordably provides a customer experience specialist who gives customers:

Outsourcing remote teams can also enhance your processes and expand your customer experience with new methodologies, paving the path to a more customer-centric culture and CX improvement.

Consistent Multi-channeling Service

Omni-channel engagement was another thing that catapulted during the pandemic to become a mainstay of the customer experience. The focus moving forward is to streamline for consistency. The key to growth is clarity, providing coherent and reliable communication across channels. Your business remains the same for customers regardless of what delivery channel is used. This loops back to upgrading your operations through a CX lens across departments. 

Growth in 2022

As we move into 2022, customer experience trends are focused on creating a competitive edge through tech-driven solutions that balance data automation with an empathetic, personalized, human experience. Delivering an affordable, relevant, and seamless experience for customers is a long-term strategy for growth in the year ahead and beyond.

BPO Will Help Grow Your Real Estate Business – How?

BPO Will Help Grow Your Real Estate Business – How?

Most businesses start with an initial investment. As the company grows, there is typically additional strategic capital investment along the way but eventually, expansion hits a capacity ceiling. Revenue growth becomes difficult without increased capacity, resulting in a balancing act between investment and growth. The purpose of ITO and BPO services is to make this balancing act easier by maximizing growth without a large price tag.

By hiring ITO and BPO outsourcing services, it is possible to reach beyond in-house capabilities and break through the capacity ceiling. Let’s take a deeper look at how this is done. 

Why Do Companies Choose to Outsource Work?

Companies choose to outsource work depending on the age and size of their business and market forces, and economic conditions. Start-ups may be looking to expand. More mature companies may be looking to reign-in costs and improve efficiencies. Analysis and strategic planning helps to determine areas ripe for delegating to an external provider.

ITO and BPO services can:

All of this becomes useful when a company:

  • Wants to reduce and control operational and IT costs.
  • Requires the flexibility to scale up or scale down when the market changes, such as during a pandemic, natural disaster, economic downturn, or other risks.
  • Determines a need for long-term strategic growth through innovation and new initiatives.
  • Necessitates improvement in customer relations and client services.

What is ITO?

Information Technology Outsourcing (ITO) is the hiring of an external service provider for some or all of your company’s information technology processes, functions, and support. ITO companies provide expertise and knowledge in computer networks and other IT systems.

ITO service providers are skilled at:

  • Recognizing the types of technology needed at a company, including storage, IT support, and wireless services.
  • Negotiating technological costs and terms of use.
  • Streamlining technological services, such as installation, troubleshooting, and usability support.

By analyzing the suitability of technologies, storage, wireless capabilities, and IT support within your company, service providers fix, expand, or implement technologies to maximize efficiency and lower the costs tied to this area. ITO services primarily minimize the expense of information technology and network services. Successful use of ITO shows identifiable savings in computer systems and procedures. 

Examples of ITO services include:

  • Application or software development, support, or management
  • Technical support or help desk management
  • Database development and management
  • Telecommunications support
  • IT infrastructure

Utilizing ITO services does not have to be an ongoing investment. After analysis and implementation, your business can absorb system maintenance internally, but you may also choose to contract maintenance, troubleshooting, and support procedures to an ITO provider.

What is BPO?

 

Business process outsourcing services (BPO) manage the operational roles and responsibilities across various business departments. BPO companies are contracted to fulfill specific roles on behalf of your company. They complete work responsibilities within the defined parameters of a specific role with the purpose of lowering operational costs. It makes it possible to build an expert external team within departments to scale.

Enlisting BPO services minimizes expenses and increases operational efficiency. This raises the capacity for growth without raising the cost of that increased capacity. BPO maximizes growth with the least investment.

The success of BPO outsourcing is measurable through key performance indicators (KPI) tracking. Monitoring performance metrics makes the improvements in business processes and cost savings visible and effective growth possible.

Both front and back office outsourcing can be a good proposal for BPO services. Almost any business operation is a candidate for efficiency, savings, and growth through BPO outsourcing.

ITO and BPO Services Work Together

The primary role of both ITO and BPO services is to improve efficiencies and therefore create room for scale. Although overlap between the two exists, it is not an “either-or” decision. It is rather a “yes-and…” situation.

The two types of outsourcing services work together to raise capabilities and support business expansion by streamlining workflows with minimal investment. Bundling ITO and BPO services provides a one two punch to the bottom line and a one two boost to efficiency. 

It can be strategic to invest in ITO first and after the cost savings are identified and wrapped into your company, bringing on a BPO provider to improve workflow efficiency up and down all departments. This reduces costs and streamlines operational processes while expansion and growth are realized.

It is possible to contract one provider for both ITO and BPO services. This can simplify contracts, paperwork, and taxes while also requiring less labor oversight. 

Pros and Cons of Outsourcing

ITO and BPO services provide a lot of benefits to companies looking to create more efficient workflows and bring down operational, and IT costs, but there are drawbacks too. 

Challenges of outsourcing:

  • Security risks
  • Unanticipated costs
  • Communication and cultural differences
  • Overdependence
  • Disruptive events

Countering these cons requires increased monitoring of security breaches, diligent oversight of contracts, in-depth analysis of work responsibilities, smarter relationship management, and resilient risk management. 

How will ITO and BPO services help your real estate business?

We have covered many of the growth benefits that ITO and BPO services provide businesses in general, but what specifically is it about the real estate business that these services help boost? Aside from outsourced accounting services or outsourced bookkeepers and tech support, outsourcing offers the real estate industry specific benefits.

Plenty of the tasks and responsibilities, from understanding real estate regulations to knowing how to market, BPO services, and ITO outsourcing, provide the support needed for successful growth for:

  • Real Estate Agents and Brokers
  • Real Estate Investors
  • Property Managers
  • Real Estate Service Providers 

For Real Estate Agents and Brokers

Hiring external real estate trained team members to complete specific responsibilities allows you to focus on your core business. 

Support includes:

  • Database management
  • Prospecting
  • Email campaign management
  • Scrubbing and qualifying leads
  • Social media marketing strategy
  • Transaction Coordination
  • Internal Sales Agents/Lead Managers
  • Bookkeeping
  • Data entry

For Real Estate Investors

Outsourcing can expand your sales coverage and drive leads, leaving you the time and resources to close deals

Examples include:

Lead Generation Management

Hiring someone to monitor leads opens up more time to foster relationships.

Cold Calling

Outsourcing the initial contact with prospects leads to more quality time with the follow-up calls.

Social Media Marketing

Outsourcing campaign creation and social media platforms management allows for leveraging this essential part of business marketing without sacrificing time on core investment opportunities. 

For Property Managers

Expanding the number of properties managed while keeping down personnel costs helps grow revenue and scale your PM business. BPO outsourcing can streamline processes, improve owner and tenant service and satisfaction, and cover time consuming tasks with expertise and efficiency. 

Property management specific tasks include:

  • Rental application process
  • Rental Property Viewings
  • Leasing Calls
  • Listings
  • Inspections
  • Rental property maintenance & tenant services
  • Rental reviews
  • Property valuation
  • New management transition services

For Real Estate Services:

Company growth for the varied list of real estate service businesses, from home inspectors and contractors to roofers and plumbers, can be boosted with ITO and BPO outsourcing services. 

Examples include:

Call Center Service

Trained service and support for commercial and residential inspection extends staff reach for focused growth.

Scheduling Services

Industry specific support to improve customer service and retention.

Contractor Management

Consolidate invoices, billing, scheduling, and onboarding your independent contractors.

Save Time, Save Money, and Boost Growth

Much like a business growth consultant, ITO and BPO providers are expert partners for a growing business. By providing technological systems and business process solutions, ITO and BPO service providers map the way for your company to not only save time and money but also to scale up successfully.

Why Google & Other Successful Companies use Outsourcing

Why Google & Other Successful Companies use Outsourcing

Several of the world’s most successful businesses have one thing in common – they outsource some of their business operations work. Companies like Google, Microsoft, Slack, Apple, Walmart, and IBM have embraced that outsourcing can bring numerous benefits to businesses. These benefits include reduced costs, time savings, employee flexibility, improvement in control of internal resources, and increased access to talent – among others.

Here is why these successful companies use outsourcing to help grow their businesses.

GOOGLE – demand and customer service outsourcing

Although google has an in house team of around 90k employees, they continue to use a lot of contractors. In fact, starting in 2018, the number of contract workers at Google outnumbered their direct employees. 

Google outsources to vendors for two main reasons: it allows them access to global talent that they do not have in house, and it covers their needs during US employees parental leaves. Outsourced employees at Google help maintain profitability for the tech giant year after year.

WALMART – back office operations and accounting outsourcing

As the world continues to transition towards a digital space, Walmart realized they needed to change how they work to reflect changes in how their customers were shopping. To them, this meant outsourcing their back office operations and accounting needs. By doing so, were able to improve quality, reduce process lengths, and deliver more value to their customers. 

MICROSOFT  – customer service and management outsourcing

Microsoft employs 131k in-house employees that are largely supplemented by a contract employees.  Microsoft uses outsourcing to manage the day-to-day of their contract workers, which reduces the workload of their in-house team members. 

SLACK – development, branding and marketing outsourcing

Slack is one of the most widely used workplace communication services. In order to reach their success, Slack outsourced their app design, logo creation, and marketing efforts to help create their product as it stands today. 

Slack vouches for the versatility of strategy when outsourcing – verifying that hiring global talent is crucial for success in building and refining an organizations structure.

WHY DO US COMPANIES OUTSOURCE? 

In addition to decreased labor and operational costs, outsourcing gives businesses access to global talent. The benefits of outsourcing are not limited to large corporations – with the right partner, even startups and SMBs can successfully outsource their business operations. 

A wide range of services, such as call center staffing, telemarketing, lead generation, virtual assistants, and more can be utilized within any organization to grow your business and streamline operations. 

Rocket Station is a Business Process Outsourcing company that is ready to integrate with your business. Contract our part-time or full-time virtual teams to support the growth of your business, products, or services. Contact us to discuss how our company can help you compete with the big corporations.

What is BPO (Business Process Outsourcing)?

What is BPO (Business Process Outsourcing)?

Business Process Outsourcing, Or BPO, is the process of contracting external resources to perform business functions. There are several benefits of implementing BPO practices, such as cost savings, flexibility, and increased access to global talent.  Choosing the right BPO company is an important decision, and deciding which tasks to outsource can be difficult.

BPO resources are not just limited to call centers and customer service – You can outsource just about any business function, allowing you to reduce internal administrative needs.

Commonly outsourced business functions include:

CUSTOMER SERVICE

ACCOUNTING & BOOKKEEPING

HR SERVICES

IT SUPPORT

TELEMARKETING & SALES TEAMS

SOCIAL MEDIA MANAGEMENT

LEAD QUALIFICATION & PRE-SCREENING

REAL ESTATE TASKS

& MORE.

From startups to Fortune 500 companies, businesses of all sizes outsource some of their processes. As we continue to push towards a digital future, BPO provides an opportunity to utilize global talent for back office and front office services.   

With businesses utilizing BPO services to fill their gaps or by integrating entire outsourced departments, it is crucial to find a trustworthy BPO service provider. Virtual Teams from Rocket Station undergo thorough vetting and training processes before being placed with your team, allowing you to hit the ground running from day 1.

Ready to learn how to outsource the right way? Contact Rocket Station Today!

Seven Steps to Successful Business Process Mapping

Seven Steps to Successful Business Process Mapping

6 Types of Businesses That Would Benefit From Business Process Outsourcing Solutions

6 Types of Businesses That Would Benefit From Rocket Station’s Business Process Outsourcing Solutions

Businesses and organizations are always on the lookout for ways to surpass their competition. From streamlining their processes to incorporating business process outsourcing solutions and reducing costs; there are several viable solutions.

The COVID-19 pandemic has brought many businesses down financially, and now that the lockdowns are being lifted, it’s time businesses put their best foot forward – or face bankruptcy. One of the easiest ways to reduce overhead is to outsource administrative tasks so that you aren’t wasting resources or management staff on improving skills that don’t drive revenue.

These solutions are known as Business Process Outsourcing (BPO) solutions.

Business Process Outsourcing solutions are more than just a short-term solution. While the post-COVID environment presses the need for BPO solutions, many large businesses outsourced their work even when their industries were booming.

This poses two questions – do some industries benefit more than others? And who can actually benefit from Rocket Station’s BPO Solutions? Below are 6 types of business that must consider business process outsourcing to unlock their true potential.

1. Marketing Industry

From large enterprises to small startups, it is crucial to rely on outsourced marketing in order to get the best possible hands working on promoting their products and services. Building your brand is a very grinding task, and not everyone has the resources to do so.

You need to be persistent, know what to say, when to say it, and most importantly, how. Furthermore, most businesses have a long list of products or services they offer; marketing each one individually can be a very expensive task if you start hiring individuals. Plus, paying them hourly can be… counterproductive.

That is why you outsource your marketing and branding ventures to those more skilled than you, paying a fraction of what you would pay an internal marketing team.

2. IT Services

Hiring an IT team just for the sake of getting one internal ERP (Enterprise Resource Planner) or CRM (Customer Relationship Manager) can be a costly venture. Tuckman’s stages of group development (forming, storming, norming, performing) are applicable especially to IT staff as they are all dependent on each other much more than any other team.

By hiring a full IT staff, you don’t just waste resources, but time.

If you outsource your IT development and optimization, the teams will have already gone through the first stage of formation and training. This will give you a chance to skip right to the performing stage, saving time and other resources.

3. Finance Industry

Another very common business process outsourcing solution that companies adopt is to outsource their accounts department. This type of outsourcing is called cross-industry BPO. It involves more than just filing returns or audits, and also includes broad-spectrum accounting, tax handling, payroll management, and even some HR tasks.

There are a lot of complexities that may arise in a company’s finances. Accounting BPO solutions can help navigate those complex paths efficiently. Outsourcing your accounting can allow you to focus on your core business goals, while your vendor handles the more time-consuming tasks.

4. Healthcare Industry

The healthcare industry is very similar to the finance industry in the sense that there are very complicated operational processes involved. There are more than just doctors involved – from the accounts department to the call center, IT department, and marketers, each departments comes together to make a hospital or a medical practice run successfully.

Hiring dedicated staff for each of these tasks can prove to be a very expensive and relatively difficult management step. The last thing that a hospital or medical practice should do is to skimp on quality of service. The slightest slack in the core business of a hospital can have life-threatening consequences and adversely impact its goodwill.

5. Insurance Industry

When it comes to insurance providers, everything might seem as simple as assessing the damage and paying off what’s due, but that is rarely the case. To ensure that an agency is geared for growth as well as for maximum profitability, the agency has to make sure that there are no weak links inside or out.

This may include anything ranging from following accounting standards all the way to making sure you have knowledgeable and helpful executives, an astounding sales team, a reliable customer care center , and having systems that enable employees to remove inefficiencies.

Common business process outsourcing solutions for the insurance sector include:

  • Claims handling 
  • Underwriting 
  • Debt collection
  • Documentation 
  • Claim delivery model, and
  • Customer retention planning
6. Support Industry

Call centers typically are not designated to a single company, but handle calls for a number of companies at the same time. This is a rather lucrative industry and is a major part of the customer support industry; especially now after the COVID-19 situation has forced everything online.

Call center outsourcing has helped many companies meet regulatory requirements, as well as strive towards maximum customer satisfaction. Having a dedicated team available 24/7 helps maintain and grow customer loyalty.

Roughly 32% of people who have made online purchases believe that good customer service is one of the prime qualifiers of their brand loyalty. When it came to their chosen mode of communication for receiving customer service, calls were a popular choice.

While your internal team may be able to handle email or chat customers when you are a small business, it gets increasingly difficult as you grow. Hiring said staff isn’t just about onboarding, but also bringing in specialized equipment to make sure you comply with relevant regulations.

Where outsourcing used to be a ‘get out of jail free’ card, it has now become the norm. Companies simply can’t afford to miss out on the cost- and hassle-saving benefits offered by business process outsourcing solutions.

Rocket Station has been helping companies cut down costs, remove inefficiencies from their processes, and improve brand loyalty for over 10 years. If you’d like to learn more or are looking for a quick virtual staffing session with an equally quick return on investment (ROI), we recommend you give us a call or schedule a meeting time now to see what we can do for you.

Our virtual teams are located in the Philippines, but that doesn’t mean that we can’t adapt to your time schedule or customer base. We’ll help you find the perfect business process outsourcing solution for your company, and then some!

What Every Executive Should Know About Customer Service Outsourcing

What Every Executive Should Know About Customer Service Outsourcing

Customer service is one of the most critical areas for any industry. Good customer service defines the trust and perception that a customer has on an organization. High levels of customer satisfaction are directly linked to client retention in both the B2C and B2B markets.
As the world continues to transform to a primarily telecommuting environment in the wake of COVID-19, more companies are looking towards customer service outsourcing.

By outsourcing customer service operations, organizations can decrease overhead and reduce stress of maintaining a customer-centricity internally. Third-party resources that specialize in providing customer service are thoroughly trained on maintaining client’s data security and privacy, in addition to consistency in providing zealous customer service interactions. Customer service outsourcing involves meticulous parameters that every executive must understand before making the decision to outsource their operations. Some of these crucial aspects are below:

Operational Costs: Decreasing overhead by lowering operational costs is one of the most common reasons for outsourcing customer support. In doing so, you can have fewer full-time employees and maintain short term contracts until your needs are fulfilled. There are additional cost-cutting benefits associated with outsourcing, as organizations can outsource their operations to a country with a lower cost of living. The cost of several associated benefits with full-time employment like health insurance, investment matching and others are also reduced when outsourcing.

A Vendor with Relevant Experience: Although there are many outsourcing companies available, finding and vetting third-party vendor with relevant technical experience presents a challenge for many executives. It is common to review the teams chosen by competitors when choosing a third-party vendor. Doing so ensures technical capabilities of the industry and allows for a quicker vetting process of finding a qualified workforce to meet your customers needs. It is crucial to select a vendor with a high customer satisfaction index, technical efficiency, and the business acumen necessary for a smooth transition process to ensure easy onboarding and integration with your services.

Services to Outsource: There are several communication channels available to provide customer service and support. Customer service outsourcing can be managed through call centers, email communications, online chat support, and social media management. Many companies can fulfill their customer service needs through use of a call center. For others with more complex interactions, it is crucial to have a multi-channel approach to deepen the level of service provided to customers. Businesses focused around finance, banking, hospitality, legal and equity trading (among others) are more complex in nature, and likely require interactions through additional channels. Thoroughly analyzing the types of outsourceable services available can help an organization select the best vendor for their needs.

Integrating with Outsourced Team: When choosing a vendor, it is important to consider factors outside of price alone. Customer service outsourcing requires deep research to choose vendors that can understand the nuances of your business. Thorough vetting of vendors ensures your outsourced team with provide ethical operations with minimal errors. Your outsourced team should function as an extension of your organization, providing exemplary services to your customers. Integrating your internal team with the outsourced service center is critical to have consistent customer experiences and to ensure that the service standards and objectives of your business are met.

Legalities and Data Security Risks: Customer privacy and data security are prime concerns of customer support; reviewing the internal security for your vendor to access documents and sensitive customer data is an imperative step. Because many customers share personal and sensitive information over the phone, it is important to be thorough in checking data security compliance by your potential vendors. Frequent training sessions with your vendor can be conducted to ensure customer data and privacy is not compromised.

Quality Assurance and Monitoring: A valuable partnership works by ensuring high quality standards of customer support services with ongoing monitoring on both sides. A quality assurance team works on improving service standards by monitoring potential customer complaints and providing ongoing training for resolutions. Identifying areas for improvement and laying a foundation for standards of customer service is necessary to ensure customer satisfaction. Choosing a vendor with a strong reputation of customer excellence is imperative for customer service outsourcing.

Systems and Tools: While interviewing vendors for your customer service outsourcing, you should discuss the technology and tools that your vendor will use on the project. Your vendor should be capable of effectively managing your outsourcing needs through different technologies.

Customer service outsourcing requires proper assessment of short and long-term goals, as well as a proper framework for easy monitoring of the daily operations of your vendor. It is important to have a clear set of expectations for both parties to deliver the customers. By following our recommendations above, you can quickly assess your needs and select the best vendor for your business. Contact Rocket Station today to discover how we can integrate with your team today!

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