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.
There are many types of value conversations to be on the lookout for. Because Twitter is a public platform people often use it to hold businesses accountable to providing them a great experience. This is especially true when your other service channels have failed to resolve the problem. While most businesses look at responding to these Tweets as an additional cost (they already paid to attempt to serve them once), it’s actually an opportunity for saving a customer and building willingness-to-pay.
According to Oracle, almost 9 in 10 customers have abandoned a business because of poor experience. If someone Tweets about a bad experience and you fail to respond you just lost your chance at redemption and keeping the customers. Moreover, according to our willingness-to-pay research consumers are likely to pay $1.08 more for their monthly wireless phone plan after getting a resolution to their Tweet about customer service compared to those who don’t receive a response.
Finding a platform that has the ability to help you find and prioritize conversations about customer service issues is critical. Additionally Conversocial’s DM Dispatcher product can help you uncover customer issue quickly (people hate repeating their issue) to route your them to the best agent, for faster, more efficient, revenue generating customer engagements.
An important aspect of providing customer service on Twitter is keeping the customer in-channel. As customers have grown accustomed to effortless “in-the-moment” social care, their behavior has matured from simply venting on social to desiring complete in-channel resolution. But for brands, providing full customer service resolution over social– without deflecting to traditional legacy channels like phone or chat–presents a major challenge for those complaints that require authentication and protection of customer information. Social Authentication, that Conversocial call Social Bind within their platform, offers a way to authenticate customers through social media channels without ever having the customer’s PII (Personally Identifiable Information) pass through the Twitter.
Customers who are reaching out with plan-based inquiries can be asked to connect their accounts using the Social Bind product, allowing agents to look up the details of their account. Resolving those plan-based issues is very valuable: according to our willingness-to-pay research consumers are likely to pay $5.17 more for their monthly wireless phone plan after getting a resolution to their Tweet about plans compared to those who don’t receive a response.
Social Bind helps businesses create faster resolutions and increase agent efficiency because agents don’t need to ask for customer identification in future conversations on Twitter. With knowledge of who that user is in their customer database agents can immediately start solving the issue.
Finding the right tool will help you create the best experience possible for your customers and maximize the opportunity. Conversocial is one of a select number of strategic partners here at Twitter, and we are working with Conversocial to bring jointly developed products to the market to make customer service on Twitter better for businesses and people.
Telcos understand that resolving issues on Twitter is no longer an option. Customers demand it, the value is there, and the competition is constantly figuring out how to better serve their customers. As a reminder, respond to everyone because that is where the value is found. Respond as quickly as possible to maximize value. Prioritize conversations around plans, customer service, and carrier switching and use Play, DM Dispatcher, and Social Bind to help you resolve problems quickly and make the best experience possible.