With an economic downturn on the horizon, companies need a viable and proven strategy to handle dips in buyer demand. Retaining customers and forming a solid reputation has never been more important than during a recession.
One of the best methods of strengthening customer service is using a GigCX workforce which lets you leverage proven and experienced professionals to deliver customer service on demand.
Here are five ways switching to a GigCX platform can help companies survive and thrive even during a recession.
GigCX is a unique and effective customer service model that focuses on providing an offshore customer service workforce to handle calls. Agents Only offers a game-changing GigCX solution with the ability to create worker incentives that promote optimal performance.
GigCX professionals handle call volumes and customer inquiries in a model that significantly reduces operational costs and improves customer experiences. Roughly 80% of CX leaders surveyed feel that the GigCX model is "inevitable" and that it is here to stay. And with a recession looming, GigCX is expected to become more popular sooner than anticipated.
Let's look at 5 ways GigCX helps companies weather recession impacts.
A GigCX workforce can drastically reduce costs by replacing expensive in-house staff (supervisors, quality assurance staff, and trainers) with software and a team of workers. Since GigCX costs less, it positions you to save capital during essential times -like during a recession.
Another way GigCX helps reduce costs is that your workforce is virtual. Instead of building a call center or adopting a BPO service, you can leverage this virtual workforce which uses its own technical infrastructure to assist your customers. Additionally, Agents Only’s, bill-by-the-minute feature saves clients money by only billing them based on agent productive minutes.
This leads to a better ROI as well as a reduction in spending.
A sharp upside of an elastic, on-demand GigCX workforce is the elimination of human trainers, which are replaced by more efficient Machine Language algorithms and AI-enhanced tools. Agents are given automated feedback after every call to help them continually improve or consistently exceed customer expectations.
This can help cut unnecessary overhead in your organization, which is necessary to save expenses and store away capital during a recession.
93% of customers will likely make repeat purchases with companies offering excellent customer service.
Due to economic uncertainty, customers tend to spend less during a recession. This makes it the perfect time to enhance customer service with the right GigCX partner to serve them well, which increases the likelihood of repeat business.
Customers tend to shop around for cheaper alternatives during a recession. A GigCX workforce can provide a competitive advantage in terms of cost savings that can be passed on to the customer through price reductions. The added benefit of superior customer service blows the competition out of the water.
Instead of competing on price, you're competing on value. This will keep your customers loyal to your brand during and post-recession.
GigCX solutions let you scale your workforce up or down, on-demand, in real-time. Whether anticipated or unanticipated surges or slowdowns, a GigCX workforce seamlessly ebbs and flows with your volume.
The obvious benefit is not having to pay for idle staff during low-volume periods and not having to worry about coverage during higher volumes. There is no need to waste money on recruiting or dealing with the effects of lay-offs because this removes the need to spend costly and precious hours hiring, training, and reducing staff.
A well-trained gig workforce evens the playing field as the economic downturn comes about. It also positions your organization ahead of competitors since you're spending less to maintain your operations at a higher level.
With the economic downturn looming, now is the time to invest in a high ROI Gig-CX platform like AgentsOnly. Our platform maximizes efficiency and customer retention. If you'd like a walkthrough that covers how Agents Only works, you can request a free demo today.