Since the early days of Twitter in 2006 people have been using the platform to engage with businesses of all kinds. An industry that fully embraced customer service and customer engagement from the start was Telecommunications Providers. Comcast was one of the very first of these companies to fully recognize the value of responding to the customers that were already reaching out. Following Comcast’s lead by example, social customer care has become much more ubiquitous for Telcos (and businesses of all types) to use Twitter to connect with their customers.
In late 2016 Twitter carried out research to understand the value of engaging with customers on Twitter. The results were surprising and very telling in that across all verticals, customers who received a response to their social inquiries had a much higher willingness-to-pay with a particular business than those who didn’t receive a response.
It is quite apparent that simply responding to care inquiries on Twitter has a lot of value! But the research also found that response speed was equally important. Those businesses who responded faster drove a customer willingness-to-pay 3x-5x higher than responding slowly.
The results seen in the Telco industry specifically were really interesting. The first thing to notice is that social care for Telcos in the United States tends toward fast responses by business agents. The slowest 25% of responses went from 21 minutes and up. The fastest 25% of responses, though, were seen to take place in under 4 minutes! An almost obvious takeaway from these observations are that in order to reap the maximum value and stay competitive businesses need a tool that can help their team respond in minutes, not hours.
Conversocial has a feature called PLAY, which is deceptively simple (as all the best products are). It appears as a simple green button within the platform, and behind that is a highly sophisticated system that utilizes flexible workflows, automation rules, keyword/topic triggers, skill-based routing and conversation context. These work together to automatically distribute all actionable workload which is proven to increase agent efficiency and resolution speed.
We know there is value in responding, and even more value in responding quickly. There are other ways to drive value even higher. Our research showed that certain types of conversations were actually more valuable to respond to than others. This isn’t to say to ignore certain conversation, but you should be prioritizing conversations that require a swifter response.
In the Telco space, one of the biggest opportunities to drive higher willingness-to-pay was in resolving issues around carrier switching. Consumers are likely to pay $6.42 more for their monthly wireless phone plan after getting a resolution to their Tweet about carrier switching compared to those who don’t receive a response, according to our willingness-to-pay research.
It’s therefore imperative to find a tool that can look for Tweets that include indirect mentions to proactively resolve issues and prevent your customer from wanting to switch to another carrier. Research Conversocial conducted with New York University found that less than 3% of tweets used the @ symbol; and over 37% all Tweets were customer service related. Having a tool that can find Tweets about carrier switching, through proactive searches, will help you prioritize responding and maximize the value of these customers looking to switch.
To be continued...
Stay tuned for part 2 in our 2-part series on how telco companies can create great customer experiences on Twitter.