Weather the Storm
It is tempting to enact severe actions during an economic downturn to save costs. Before you start slashing budgets across the entirety of a business, consider the following.
Evaluate ROI, not just costs
When scrutinizing budgets with an eye to savings, look beyond the cost and ask what value each item contributes to the company.
In the case of CX programs such as support and moderation, it’s tempting to view these as mere operational costs — easy candidates for reduction.
Customer support, when done well, is one of your greatest marketing tools. Customer satisfaction is at the heart of every strong brand. It is the source of loyalty that inspires return customers and the referrals that attract new ones.
Content moderation is foundational to trust and safety. Not only does it protect your brand online, but it also ensures a healthy environment for your community to thrive and grow.
Don’t lose ground
Slashing budgets in CX could stall growth, reduce your customer base, diminish your community, or leave your brand vulnerable.
If you must tighten your CX budget, consider taking a more surgical approach that preserves your hard-won customer base and still protects your brand and community. Losing customers and community engagement, or facing an online crisis, will only exacerbate the very economic conditions you were trying to mitigate.
Be ready for clear skies
Careful analysis should lead successful organizations to look beyond the current downturn to how they reignite during the upturn.
As the economy rebounds and opportunities present themselves, you want to be able to seize them quickly. This won’t be possible if you’ve gutted your CX programs. You’ll be looking at rebuilding, not capitalizing.
Recall that even the quickest CX departments aren’t assembled overnight. Remember the investment in skills and functions — none of that comes quickly.
But if you’ve maintained core CX services, you will be ready to exploit any break in the storm.
ModSquad can help you formulate a plan
How do you avoid throwing the baby out with the bathwater?
We can help.
We can audit your current CX programs and analyze your ROI. We can show you how to meet your budget constraints while maximizing the value these projects deliver. We can help you define a core program that enables you to weather today’s storm and keeps you prepared for tomorrow’s blue skies. Contact us today.This entry was posted in Customer Experience. Bookmark the permalink.
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