WHY DOES HAVING FAST RESPONSE TIMES MATTER IN YOUR BUSINESS?
How long should a customer be made to wait for a response to a problem to be resolved? Does “faster” response time mean a better experience?
When dealing with customer service interaction quality, time is a powerful factor. Considering this, it is evident that response times are an essential factor in determining customer satisfaction. Here’s an example, just as managed IT support can save your company money, response time can boost your business revenue.
Customer satisfaction research shows a positive correlation between faster response times and higher customer satisfaction. Customer satisfaction and experience during the response time are one of the driving forces behind a successful business experience. A slow response time can create a negative business experience.
Response Times and Customer Service Matters
Customers form and shake brands, not the other way around. Without them, your company can never reach its full potential, so you must satisfy them. Additionally, satisfying customers always depends on promptly replying to their inquiries.
With thousands of businesses vying to stand out through outstanding customer service, you must up the ante and satisfy client demand. Taking this into consideration, it is evident that response time is a crucial customer service statistic that affects customer satisfaction ratings.
One of the easiest ways to be different from the competition is by simply giving your clients better customer service and faster response times. It’s essential to keep in mind that the accessibility of your communication channels significantly affects both client expectations and customer care response times.
Businesses need to have fast response times to have the best customer service. According to some customers, receiving answers to a question within 20-30 minutes can be considered, but if it arrives within three days or more, it can be not very reassuring.
Impacts of Fast Response Times on Your Business
One of the crucial concerns of customers is the response time. This can be a pivotal factor in making business engagement choices or if they received satisfactory customer service. How fast or slow your response time is can positively or negatively impact your business.
Here are the impacts of fast response times on your business
- Increase customer satisfaction
Let’s start by stating the obvious. Customers feel important and valued when they receive a response immediately. According to Forrester, 73% of customers stated that one of the best things a business can do to ensure customer satisfaction is by valuing their time.
Having satisfied and happy-to-lucky customers are vital for business success, and it helps in maintaining a positive image for your brand.
- Faster Resolution
The first to respond to a lead often wins the sale. According to Zendesk the first vendor or service provider to respond to a prospect wins between 35-50% of those deals.
One way to offer a fast response time is by deploying chatbots and live chats. With this strategy, you will be able to engage customers 24/7 and offer fast response time even when your support team is unavailable.
- Better Sales Conversions
When your business has fast response times, there are increased opportunities for customer engagement and potential sales, leading to your business beating your competitors to a better sales conversion. Undoubtedly, poor response times result in lower conversion rates and slower sales!
According to Forrester, 78% of clients will buy and stick with a company that responds and answers their questions accurately and quickly. Also, addressing sales queries with a fast response reduces the sales process and encourages customers to make quick sales decisions.
- Boost brand loyalty
According to SalesForce, 91% of customers revealed that they would stick to a brand and make repeated purchases after a positive customer experience, while 71% said they only made a decision to make a buy based on the quality of experience they received.
By putting up the effort to respond more quickly, you can increase brand loyalty through excellent customer service. Customers that receive a positive response time are more likely to be devoted and return frequently.
- Makes your business stand out
Customers today have high standards. They demand excellent service as soon as possible. The longer the response time is, the more likely it is that the strength of your company and brand will fade in their eyes.
Having a fast response time makes your business different in the eyes of the customers. They have found something that makes you stand out from your competitors. Once a customer is able to see that you can offer them the help they need in a few minutes, they will want to stick with you.
For instance, one thing that makes us at BrightSkye different from our competitors is that we typically reply within 7 minutes and, on average, resolve the issue in 17 minutes. In contrast, our competitors have an SLA response time of 4 hours.
Therefore, response time is obviously of the essence if you want your firm to stand out and get more leads. This can also help in immediately handling cybersecurity issues.
Having Better Response Times Matter for Your Business!
You are certainly aware of the adage “time is money.” Time is precious, and you don’t want to waste it. Fast response times can not only improve client satisfaction and your company’s standing, but they can also increase efficiency and conversion rates.
Does your UK business need a fast response time? BrightSkye can provide you with that. Contact us today to schedule a consultation at 0141 212 2240 or reach out online.