Cost / Quality of Service
Practice Area Overview
The Challenge
- Do you know what it truly costs your business to service a client across channels (web, chat, phone)?
- Are you actively tracking contact rate? Is reducing contact rate a KPI?
- How do your customers rate your service experience compared to industry averages or best in class?
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The best customer service call is one that never occurs. Highly successful companies understand the importance of investing in tracking what drives customer service calls and actively reducing the reasons for customers to contact you for service issues. It is critical to understand the fully-loaded cost to service your clients across each of the channels and incorporate that into your servicing strategy. These metrics will help justify the investments you make in reducing service contacts. And reduction in service calls can allow great companies to invest in higher quality experiences for the smaller number of contacts.
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The best companies utilize service as a differentiator. They operate their service teams as a profit center or at a nearly cost-neutral basis.
The Benefit
By engaging with Palomar, you will better understand your true cost to service your clients. You will also have a strategic servicing strategy that incorporates your true cost to service as a basis for utilizing multi-channel servicing and issue prioritization. You will be able to ensure that you maximize self-service tasks while enabling higher tough contacts for necessary tasks.
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Palomar can also help initiate a contact abatement program to ensure the product, engineering, and service teams are working together to understand contact reasons and actively reduce them.
Engagement Overview
Discovery
Step 1
Palomar will spend time learning about the business, the relevant leaders on the team, and any products related to the engagement.
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We will request material to review in advance to help us gain necessary understanding of the business.
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Then we will conduct interviews either in-person or virtually to meet with relevant team members and discuss the topics related to the engagement.
Recommended Action
Step 2
Palomar will provide detailed feedback based on their extensive experience and as a result of the Discovery Phase. the feedback will include specific areas of strength as well as opportunities for improvement. Where possible, we will also include comparisons to the industry or other best-in-class companies as a benchmark.
In addition to the feedback, Palomar will provide a detailed set of recommended actions to address the opportunities identified during the engagement. The action plan will be prioritized by potential impact to the business as well as the timeliness of the recommended action.
The Findings and Recommendations Report will be provided in a presentation format. We can deliver the presentation to the necessary team through an in-person or virtual meeting where we can share the information and field any relevant questions.
Implementation
Step 3 (optional)
Palomar will work with the key stakeholders to align on prioritized action steps resulting from the Findings & Recommendation Report. We will then develop a detailed Implementation Plan through joint ownership. Once the plan is finalized it will include commitments, ownership, and timelines.
Then we will partner with key stakeholders to implement action steps and install appropriate success metrics.
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Palomar Advisors can facilitate through different roles in the Implementation Process:
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PA develops Implementation Plan in collaboration with client Co-Owner.
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PA remains as an active advisor during the implementation process.
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PA is fully responsible for managing the implementation process with key stakeholders.