Top 5 Components of Customer Service

By Lucas Hancock, Director of Customer Experience

Customer service team in a row.
Customer service plays an integral part in the success of any organization. According to a recent NewVoiceMedia Study, U.S. companies lose $41 billion a year due to poor customer service. At NextGear Capital, we understand the importance of and place a high value on providing customers with the best customer service.

Here are the top five components that make up great customer service.

1. Overall Customer Experience
Individuals have one main purpose for contacting a customer service center: to resolve an issue. No matter what that issue is – from making a payment to disputing a late fee – it’s imperative that the customer receives an experience that promotes trust and a feeling that the person on the other line truly cares about the issue at hand.

2. Top-tier knowledge
When a customer calls in to a customer service center, they want to speak to someone that is knowledgeable about their industry. What’s more, customers want someone that understands the actual needs of their specific business, as no two customers are the same. Two ways that NextGear Capital accomplishes this is through extensive training of our employees on the ins and outs of the industry. Additionally, our technology solutions allow our representatives to pull up information quickly so to speak accurately to the account.

3. Friendliness
Mother Teresa is quoted as saying “Kind words can be short and easy to speak, but their echoes are truly endless.” For customer service employees, it’s important to maintain a friendly and calm attitude, no matter the temperature of the customer. One way to accomplish this is through positive language. Phrases such as “Happy to help” or “Great question, let me find that out for you” promote a friendly, caring attitude, which can go a long way in creating real customer engagement.

4. Promptness
We live in a day and age where fast and speedy service are what separate the top companies from the rest. In the automotive remarketing industry, timely service is essential for dealers who are constantly moving inventory. To-date this year, 90 percent of NextGear Capital customers have had their calls answered in 30 seconds or less – a testament to our understanding of the need for prompt service.

5. First-call resolution
According to the SQM Group, a 1% improvement in first-call response equates to $276,000 in annual operational savings for the average call center. This shows that first-call resolution is critical for companies when it comes to retaining current customers. Beyond increased customer satisfaction, first call resolution also aids organization’s by reducing operating costs through decreasing the number of customers that need to call back.