Thursday, June 16, 2016

'Having a status page is a luxury'. Said No-one. Ever.

So you’ve been using your statushub for some time now. You’re looking at it thinking, "I guess we need it, but I’m really not sure why as my competition doesn’t have one. Is this an expensive vanity luxury?"

That’s would be one heck of a snap judgment to come to. Most companies with online-facing services don’t have a dedicated status site. And they wrongly think their social media channels are adequate (they’re not), and they also wrongly think their product can stand on its own merits or the marketing (they won’t), or worse still that their low-price in their market will be the saving grace (wrong again).

According to research done by CRM service, up to 60% of consumers will pay more for a better customer experience. And this is where those who understand great software is nothing without great service win. Every. Single. Time. Forrester Research say that only 37% of brands receive good or excellent customer experience index scores,  whereas, 64% of brands got a rating of “OK,” “poor,” or “very poor” from their customers. Do you even know what your CE scores are?

Engagement with your statushub by your customers is an easy way to measure just how engaged your customers are with you. Tickets in your helpdesk system are not an indicator. Your customers do not contact you to tell you ‘they’re engaged with it’ and will only come through it to do one of 5 things:

  1. Make a service complaint
  2. Ask a question about the service
  3. Cancel their account
  4. Query the bill on their account
  5. Request technical support

You already know this even after reading that list don’t you? By pro-actively getting your customers engaged with your hub to let them know what’s going on with the services they take from you, you have a measure of how well you’re engaging them. If you have less than 1% of them subscribed to your statushub, you’re passively accepting you don’t care about your service’s implicit availability and any service agreements that are part of it.

You’re also agreeing you’d rather spend the time you probably don’t have reacting to and putting out fires in your business when something happens, than being proactive in your communications when it is absolutely crucial to do so to retain trust, and more importantly retain custom and the associated revenue.

Kissmetrics say it takes 12 positive service experiences to make up for one negative experience, and according to Oracle, as many as 89% of consumers begin doing business with a competitor following a poor customer experience. Can you afford to have 89% of your customers and their revenue up and leave to your competitor because you think a statushub is an expensive luxury? Is your revenue worth less than your statushub?