Global e-commerce sales exceeded $2 trillion in 2017, and are on pace to more than double by 2021. Yet average online conversion rates have remained doggedly low. Fewer than 4% of consumers arriving from desktop browsers actually buy products.
Nothing deters potential customers from completing their purchase more than bad customer service.
The e-commerce sales data comes from Harvard Business Research (HBR). This data suggests that trust is essential to forming an intention to purchase. You don’t want one-time customers, you want buyers who keep coming back for more.
Bad customer service will definitely cost you.
According to NewVoiceMedia, U.S. companies lost $62 billion in 2016 because of poor service. No matter how good your product is, customer service is the reason why customers switch to a competitor.
The rise of the internet has also increased buyer expectations—not least when it comes to the speed of customer service. The internet is very clearly on its way to becoming the standard platform to shop. But companies now have to deal not only with selling, but also with having meaningful interactions with customers in a digital environment.
You must create a brand outside the physical space.
There’s a clear opportunity on bringing tools for improved customer service to e-commerce for better business performance.
Let’s take a closer looks at the numbers that tell us why a great customer experience is key and how a bad customer experience actually hurts your business.
Hard Facts of a Bad Customer Experience
Take a look at these numbers,
- 66% of customers switch companies due to poor service. (Accenture)
- 55% of consumers have intended to make a purchase, but backed out because of poor customer service. (American Express)
- 58% are willing to spend more on companies that provide excellent customer service. (American Express)
- 52% of consumers have made more purchases from a company after having a good customer service experience. (Zendesk)
- 73% of consumers say friendly customer service reps can make them fall in love with a brand. (RightNow)
- 86% are willing to pay up to 25% more for a better customer experience. (RightNow)
- 72% of businesses see an opportunity to improve customer experience by leveraging reporting and analytics. (Deloitte)
- Increasing customer retention rates by 5 percent could increase profits from 25 percent to 95 percent – Harvard Business Review
E-commerce businesses that can’t keep up with shoppers’ ever-growing demands will see their traffic decline and their sales suffer.
Improving Customer Success in an E-commerce Platform
Consumers expect fast, personal responses. According to McKinsey, 75% of online shoppers expect help within five minutes. If they can’t get their questions answered quickly they will go somewhere else.
In HBR’s “In E-commerce, More is More,” the authors found that exploiting the consumers’ desire for engagement is the single dominant driver of superior shareholder value. Providing an excellent customer experience is one of the most important ways to improve user retention, repeat business and, of course, profitability in any business.
The Mercado Libre + Freshdesk Use Case
We have worked with Freshworks platforms for more than 15 months and four products. Our team knows the impact a service desk can have on the end user’s experience and even more so on the organization’s management. It was clear to us that we needed to find an opportunity with an e-commerce platform.
E-commerce’s biggest growth opportunity is in developing countries. Mercado Libre is Latin America’s most popular e-commerce site with 174.2 M users as of 2016. According to owner Marcos Galperín, “We see stable, predictable growth rates of 20% to 30% per year.”
Since 2011 the company changed to Open Source and allowed API’s to work with their platform. It was a no-brainer for us to understand that Mercado Libre’s vendors will benefit greatly from an integration with Freshdesk for their customer support management.
We found that a lot of small and mid-sized businesses working in Mercado Libre, are already facing this problem. They have a helpdesk solution for follow-up and reporting on business metrics. But these are not getting the most out of any of their platforms and agents are slow down because there’s just too many listings, prices, and data.
So, we built a Freshdesk + Mercado Libre integration.
Using this service allows both platforms to communicate seamlessly and get the most out of your helpdesk reporting and improve buyer’s engagement.
Simply put: better team performance and more sales!
Freshdesk +Mercado Libre will automatically create a ticket in Freshdesk for any customer interaction you receive in your Mercado Libre’s listings and respond immediately. The truly great part is that your support team will have customer information, order details, and your product’s details available for them in each interaction directly on Freshdesk’s sidebar.
This is all the information your agents need to provide quality customer experiences. It also includes all of the business metrics you can leverage from both platforms.
Using a helpdesk system in their e-commerce platform will certainly improve customer engagement metrics and result in more sales.
Freshdesk + Mercado Libre integration is a great tool and can help your business to compete with big brands.
Please, reach out to me at [email protected] with any questions or if you need help.