Managing Customer Service with Technology
Does your business get frequent inquiries? If so, it can be challenging to manage them all. Responsive customer service is key to your company’s success, so finding tools that can streamline the process is a smart business decision.
The most common solution to automating customer service inquiries is implementing a ticket management system or help desk software. A few important things to consider:
- How fast you can respond to a customer
- How well you solve the customer’s problem
- How to track a customer’s issue if it has to be open for a while before it’s solved
- How to do all of this in a cost-effective and efficient, yet friendly, manner
Inquiries often come from a variety of places:
- Phone calls and voicemails
- Emails
- Text messages
- Website chat
- Snail mail
- Social media accounts and all platforms your business is on
- Posts, replies, and comments
- Direct messaging
- Any other contact methods you have set up in your social accounts
That’s a lot of communication channels to manage! When these channels can be fed into the same system, you can unify your client communications and take a massive step toward organizing all of the moving parts. A good ticketing system will accomplish this, and the feature you want is multi-channel accessibility.
Keeping your customer service costs low is another factor, and one way to accomplish this is to help users self-serve and solve their own issues when they can. This requires a robust knowledge base. A knowledge base contains a set of how-to articles and videos with the most frequently asked customer service questions.
Here are a few basic topics to consider including in your knowledge base:
- What forms of payment do you accept?
- What is your shipping policy?
- How can customers get help if they need it?
- What is your return/refund policy?
- What is your privacy policy?
- What is your guarantee?
- How do you secure customer data?
- How can customers update their credit card/address/phone/email?
- Where do customers go to track their order status?
- What licenses does your business have?
- What are your hours?
- Do you have hours for seniors?
- How and where do customers log into their accounts?
- What are your COVID-19 policies for employees? For customers?
- Are you hiring and where should applicants go to apply?
A good ticket system will also have the ability to customize the ticket, the service rep assigned, the customer records, and the other important parts of the system. For example, you may want to set up your own status items for each ticket. Open, assigned, active, hold, and complete are typical statuses, but you may need additional statuses depending on your business.
The workflow must also be considered in a ticket system—how does a typical ticket flow through your business, and can the system replicate that flow?
Other important features of a ticket system include:
- Support for multiple languages
- Customer response to tickets, as well as the ability for customers to view the status of their tickets
- Uptime of system (service-level agreements)
- Tracking including the number of open tickets, tickets on hold, etc.
- Reporting metrics such as wait time, ticket servicing time, and number of tickets handled by each agent
- Ticket tagging and categorizing
- Feedback loop for suggested product improvements
- Ease of use for customers and agents
- Notifications
A few of the most popular ticket management systems include:
- Zendesk
- Freshdesk or Freshservice by Freshworks
- Zoho Desk
- HubSpot Service Hub
- Salesforce Service Cloud
- LiveAgent
There are hundreds of technology options for every size of business. If you want to take your customer service to the next level or just want to get more organized, consider looking into these ticket systems.
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Assess Your Current Financial Position Before implementing any recovery plan, you need a clear understanding of where your business stands. Conduct a comprehensive financial audit that examines cash flow, outstanding debts, operational costs, and revenue streams. This baseline assessment reveals which areas require immediate attention and which assets can support your recovery efforts. Create a detailed balance sheet that includes all liabilities and assets. Identify which expenses are essential and which can be reduced or eliminated. This honest evaluation forms the foundation for all subsequent recovery decisions. Prioritize Cash Flow Management Cash flow often determines whether a business survives or fails during recovery periods. Implementing effective financial strategies focused on cash flow means accelerating receivables while managing payables strategically. Consider offering early payment discounts to customers while negotiating extended terms with suppliers. Review your inventory management practices to free up capital tied in excess stock. Apply just-in-time ordering principles where feasible, and liquidate slow-moving inventory to generate immediate cash. Every dollar of improved cash flow strengthens your operational flexibility. Restructure Debt and Obligations When facing financial pressure, proactive debt management becomes crucial. Contact creditors early to discuss restructuring options before accounts become delinquent. Many lenders prefer working with businesses that communicate openly rather than dealing with defaults. Consider these debt management approaches: Consolidate multiple high-interest debts into single, lower-rate obligations Negotiate payment plans that align with your current cash flow capacity Explore refinancing options for long-term debts to reduce monthly obligations Prioritize secured debts to protect essential business assets Revise Your Budget and Reduce Costs Developing lean operational financial strategies requires examining every expense category. Distinguish between costs that directly generate revenue and those that don't. Focus cuts on non-essential areas while protecting investments that drive customer acquisition and retention. Renegotiate contracts with vendors, explore alternative suppliers, and consider shared services or outsourcing for non-core functions. Small cost reductions across multiple categories create significant cumulative savings that improve your bottom line. Diversify Revenue Streams Recovery plans shouldn't rely solely on cost-cutting. Smart financial strategies also emphasize revenue generation through diversification. Analyze your customer base to identify underserved needs or complementary products and services you could offer. Explore new market segments, develop strategic partnerships, or create subscription-based offerings that generate predictable recurring revenue. Digital channels often provide cost-effective ways to reach new customers without substantial upfront investment. Build Financial Reserves Once stabilization begins, prioritize building an emergency fund. Even modest reserves provide crucial breathing room during future challenges. Allocate a percentage of monthly profits specifically for this purpose, treating it as a non-negotiable expense. Consider these reserve-building tactics: Set aside 5-10% of monthly revenue automatically Deposit unexpected windfalls or tax refunds directly into reserves Maintain a separate account to avoid temptation of accessing funds Gradually increase reserve targets as profitability improves Monitor Progress and Adjust Successful financial strategies require ongoing monitoring and adjustment. Establish key performance indicators that track recovery progress, including profitability ratios, cash flow metrics, and debt-to-equity ratios. Review these indicators monthly to identify trends early. Stay flexible and willing to modify your approach based on results. What works initially may need refinement as circumstances evolve. Regular financial reviews ensure your recovery plan remains aligned with current realities and future objectives. Transform Your Business: Partner With Financial Experts for Sustainable Recovery Rebuilding your business after difficult times demands expertise, commitment, and proven financial strategies tailored to your unique situation. You don't have to navigate this journey alone. At First Steps Financial , we specialize in helping businesses develop and implement comprehensive financial strategies that drive results. We'll work alongside you to analyze your situation, identify opportunities, and create an actionable plan to restore financial health and position your business for growth. Ready to build a stronger, more resilient future? Let’s connect.
