Luxurious hotels. Sunny, lush grounds. Five-star restaurants with highly acclaimed chefs. So often, this is what comes to mind when someone thinks of the hospitality industry. And a lot of the time, these idyllic scenes are part of any tourism-related business owner’s day.
But, there can also be a darker side within the hospitality industry that insiders know all too well… customer complaints. In any business, complaints are never fun. But when so many of your customers choose you based on online reviews and ratings, like they do with hotels, restaurants, airlines, cruise lines and the like, complaints can send your business into a tailspin.
What’s even worse is that travelers sometimes take their complaints to third party agencies such as the Better Business Bureau or regulatory agencies when they are beyond dissatisfied, extremely escalated or don’t know where else to turn. This can open a business up to financial damages, negative stories in the press, rumors on social media resulting in a bad reputation and a sharp decline in customers.
Think about all the frustrations that can come with hiring, managing and retaining a group of people (your team members). If frustrations aren’t bad enough, high turnover and inadequate handling of your staff can cost your business in a big way. Case in point: One study found that the average cost of a single hiring error in 2017 was almost $15,000, so you can imagine how that number can quickly snowball and turn into a disastrous amount the more hiring mistakes you make.
Given how fast-paced and digitized everything has become, it’s no wonder that paying quickly, easily and securely through phones and computers is now the norm. So, for companies to compete in the marketplace, they also need to offer these types of payment options to their customers. When done well, consumers are happy, companies enjoy more sales as a result of less payment friction… it’s a win-win all-around, right?
Not so fast. This rosy picture of easy consumer transactions on the go and easy payments for businesses is certainly the goal of end-to-end payment solutions, but before it can be the true reality, there are numerous barriers to overcome. One of these, unsurprisingly, is fraud. Specifically, “card not present” (CNP) fraud has been rising and is expected to reach costs of $7.2 billion annually by the end of 2020.
For many industries, like hospitality and telecom, call centers are a given. There’s no way to meet customer demand without adequate agent staffing (and ample training for those agents). But the unfortunate reality is that many of these businesses also see their call centers as a drain on their revenue.
At Conectys, we regularly partner with companies of all sizes around the world who want to outsource their customer service and experience a positive revenue-to-call-center correlation. Here are the three ways we make sure that our call centers keep customers’ revenue steadily growing, rather than depleting it.