3 min read · 2024
In this digital age, customer service is vital for your business's success. As technology continues to evolve and bring us closer, customers expect a high level of customer service. In the Business to Business (B2B) sector, personalized expertise, hands-on interactions, and timely responses are highly valued by clients, especially when these interactions can directly influence their revenue. B2B customers often encounter intricate and unique technical challenges that may require significant time and effort to address across multiple teams. Getting this service right yields results. According to McKinsey, B2B companies that have high customer satisfaction are 1.5 times more likely to outperform competitors and grow faster.
However, for many companies managing a 24/7 B2B customer support desk for their merchants across a variety of products can be challenging. A critical decision for companies is whether to handle customer service in-house or outsource it.
Outsourced customer service is when customer-facing communication channels are managed by a specialized thirty-party service provider.
Both approaches to customer service have unique advantages. Internal support provides closer supervision, whereas outsourcing presents a scalable and holistic solution. Let's explore the advantages of outsourcing customer service for your merchants.
Outsourcing your merchant support helpdesk can have an immediate impact on increasing efficiencies within your business. Managing customer phone calls and emails can be time consuming, requiring businesses to hire more staff, which all detracts from revenue-generating activities. By outsourcing these tasks, you and your team can focus on enhancing sales effectively. Saving your team time from hiring additional staff can lead to substantial cost savings in terms of overhead, tools, and technologies. It also reduces expenses related to recruitment and training on new products.
In a complex and ever-changing industry such as payments, it can be challenging for companies to stay up to date across customer needs and industry standards. This is especially true for the intricacies around international payment gateways. To ensure a positive merchant service interaction with your B2B customers, it’s important to have reliable expertise that is intimately knowledgeable in your product, compliance, and regulations. By partnering with a team of knowledge experts, you can provide your merchants with a sense of trust and security, knowing that their payment needs are being handled in a timely manner and with accuracy in accordance with the necessary technicalities and regulations.
By prioritizing reliable expertise in these areas, you can ensure smoother operations, build stronger client relationships, and stay ahead of the curve in an industry that is constantly evolving.
With an outsourced customer support management service, your team can focus on scaling your product with merchants. As your solution grows, you can easily adapt your outsourced customer service management service to account for seasonal volume spikes and expansion into new geographies.
This support in growth can include multilingual support services and 24/7 support across the globe. Third party customer support services also have the benefit of facilitating multi-channel customer assistance without heavy infrastructure investments. Support providers cover diverse channels like email, calls, mobile apps, and social media, enhancing customer satisfaction and brand loyalty.
With an outsourced merchant service desk, you can receive non-biased feedback and analysis on key metrics like types of calls raised and get strategies on how to optimize your customer support through proactive training with merchants. At Merchant Cloud we document customer interactions to provide you with a clear perspective on your merchants’ needs and how you could potentially enhance your product strategy and customer communications. Detailed insights can assist in enhancing your knowledge base, allowing you to deliver increasingly improved product support as time progresses.
Unlike maintaining your own merchant support desk where 100% of the work is your responsibility, an outsourced merchant service desk offers your company flexible levels of service. Whether you need full-time merchant support or just a little help over your busy season or to launch your initial product, a third-party merchant support service can flex to suit your needs.
Taking care of your customers is paramount as B2B referrals play a crucial role in acquiring new business. Thus, it’s vital current customers are satisfied not just with the product but also with the support they receive. B2B client retention is not only based on product excellence but also on the caliber of service provided. This is why Mastercard Gateway has recently announced a new offering to its resellers looking to outsource their merchant support. On-Behalf-Of Servicing is a fully outsourced merchant support service which enables you to focus on your core competencies while our teams manage merchant onboarding, gateway processing support, merchant updates and account reporting and reviews.
Our globally dedicated customer support teams work under the guiding principles of Customer Operations Performance Centre (COPC) and offer a seamless solution for gateway customer service needs. Get in touch with your Mastercard Gateway representative to learn how we can manage your merchant support.