Customer service is, at its core, about improving customer retention (for current customers) and improving conversions (for new customers). These two factors require using the best tools available to provide excellent customer service every time, and video is an excellent choice in this regard.
According to Bain, a 5% increase in your customer retention rate can improve your profitability by up to 75%, and 86% of customers are willing to pay up to 25% more for a better customer experience. Since live chat is the best form of customer service (according to your customers), it pays for you to invest time and energy in live video customer service tools. Here are five ways that you can utilize video to boost your customer service metrics and improve your bottom line.
Unlike an FAQ (which we cover in a moment), How-To videos are an excellent way for you to cover how to complete a particular task with your product or service. This type of video is particularly useful because it can be created around a customer’s actual use case for your product. In fact, if you are committed to creating how-to videos, you can actually use questions that your customers pose to you when determining what type of how-to videos to create.
Think about it – if your customers are repeatedly asking you how to use your product for something specific, then how great will it be for you to be able to direct them to a helpful video that answers their exact question. If you create more videos on a consistent schedule, then you will quickly create a library of how-to videos that will have a dramatic impact on your customer retention rate.
The old standard FAQ page is dead, or at least it should be. No customer, current or prospective, wants to wade through an FAQ page to look at tired explanations or boring diagrams to help them fix their problem. It’s easy to create videos that explain every one of the major questions that your customers have with your product, and it’s also a great way for you to get some of your customer service team members more engaged with the process.
There are plenty of ways to do this, both with screen-casts that show you using a software product or with a live video demonstration using one of your team members. Both methods using video will be far more engaging and interesting for your customers to experience themselves, and will get you a long way toward improving your conversion and retention rates.
Live Video Chat With Customers
One of the most important things that you can do with video is to use it for video chat with your customer (or potential customers). In fact, studies have shown that live online video saves you money and makes your business more efficient when utilized, and it increases engagement. After all, only 3% of customers remember text they read three days later. Don’t you want something more engaging for customers of your business?
Offering live online video requires that you are fully confident with the service used to stream it to your customers. Live video streaming services like those offered by video chat firm Agora.io offer bandwidth-agnostic high definition video, that are easily integrated into your businesses site or app, with a few lines code.
Customer Review Testimonials
Having a customer review your product in any form has plenty of benefits for your business, but when it’s done over video it can be especially powerful. In fact, customer testimonials have been shown to be the most effective method of content marketing available to companies, with an effectiveness of 89%, according to WebDam.
To top it off, Hubspot reports that engagement is boosted 22% when using video, and it has the highest level of trust among consumers. This means that, if you are going to use customer testimonials in your marketing, using video will get you higher engagement and better results than any other form of testimonial.
Webinars are a great example of a use for live video that doesn’t just improve customer service. Utilizing webinars in your business can allow you to easily convey setup and initial training instruction to customers that have just signed up with your business, but it can also save you money that would otherwise be spent by travelling to the customer’s home or office to do that same training.
You can also utilize webinars to update customers on new features of your product or service, and with live video you can take questions and comments in real time. This will create a more engaging webinar experience for your customers and allow you to more easily engage with those customers, even when you aren’t in the same room as them.
Have you considered using live, online video to improve your customer service efforts? What area do you think that it would be most helpful? Let us know in the comments.