Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

News Online Exchange - April 2012


Published on

News Online Exchange for the month of April is all about Easier Refund and Billing Processing

Published in: Business, Technology
  • Be the first to comment

  • Be the first to like this

News Online Exchange - April 2012

  1. 1. APRIL 2012 ISSUEJANUARY 2011 ISSUE APRIL 2012 BUSINESS NEWSLETTER JANUARY 2011 BUSINESS NEWSLETTERNews Online Xchangeserves to give up-to-date information on the products and services under the NMS brand, as well asnews involving the Web and Mobile industries. ? WHAT IS BILLING? A customer billing is any kind of business event where a business collects money from a customer for goods or ser- vices provided. Lots of companies have customer billing service depart- ments, and in some industries, customer service and customer billing go hand in hand. Good customer billing practices and competent customer service help build customer loyalty and retention, where a business keeps its initial customers and thrives. These days, lots of companies use customer billing software to issue informa- tion about what customers owe. In many cases, customers will have ques- tions about their bill, or they will want to change services or modify their agreements to get lower charges on their bills. In these cases, good customer service can help the business hang onto customers, and bad customer service can drive them away. This is where lots of companies use skilled human customer service agents to help deal with problem solving that will eventually lead to customer etention. (Continued on the next page) New Media Services e the Go-To company w
  2. 2. APRIL 2012 ISSUEJANUARY 2011 ISSUE APRIL 2012 BUSINESS NEWSLETTER JANUARY 2011 BUSINESS NEWSLETTER (from previous page) Generally, the first part of a customer billing cycle is auto- mated. That’s where a bill goes out to the customer for a spe- cific amount. Where the human customer billing or customer service individuals come in is when there is “feedback” on the automated billing, where a customer picks up the phone and calls the company. Customer service people will verify the identity of the caller and look at his or her account to see if that customer is being treated fairly. In addition to conventional customer service, customer billing agents sometimes play other similar roles in how the business works. Many companies will authorize customer service agents to give out specific discounts based on various criteria in order to satisfy a customer who is complaining about their bill. All of this may be handled on a statisti- cal level by larger software programs that help business leaders identify what discounts or practices will help them keep their customers. The similarity between today’s customer bill handling and customer service environments shows how companies deal with customer complaints. These kinds of setups also help customers who simply don’t understand their bill, or want to make adjustments based on changing needs. Although a great deal of the process is automated, the best companies offer human agents without an extremely long wait time, so that customers can still feel that they are being well served when they do have to talk to an actual person. AUTOMATIC RENEWAL Customer Service Or Sneaky Billing? Automatic renewal is a neat feature for people who offer a subscription service. It lets you bill your cus- tomer automatically, usually on a monthly or yearly basis, to renew the service. Automatic renewal has become a way of life for many of us. You get monthly bills from utilities, the Phone Company, and sub- scriptions you have purchased. What about the customer? Well, it can be great. Your Technology has made automatic billing even easier. Now bills are automatically paid in a timely manner so you you do dont need paper bills or even email notification. never have to worry about interruption of service. Your payments can be automatically deducted from a credit card or other account. But automatic renewal can easily be misused by the vendor. A number of companies set their billing to auto- Isnt this great? Its so convenient! matic renewal when you first sign up for a service. This Well, yes, it is great for the vendor. Paperwork is elimi- can be very convenient, especially if you are notified nated and a steady stream of income is almost guaran- when billing occurs and have an easy way to question teed. the billing or cancel the account. New Media Services e the Go-To company w
  3. 3. APRIL 2012 ISSUEJANUARY 2011 ISSUE APRIL 2012 BUSINESS NEWSLETTER JANUARY 2011 BUSINESS NEWSLETTER When using automatic billing, keep these suggestions in mind: 1 Make it clear to the customer, at the time of sale, that billing will be automatic. Send automatic notifications to your customer showing each bill and payment information. Use 2 this as an opportunity to thank your customer and even to showcase new products and options that they can buy. 3 Provide a quick, easy way for customers to reach your customer service group or function. This should always be done! Give your customer a simple, easily found method to convert automatic payments to manual. 4 If your subscription renewal is yearly, or some other period longer than a month, make sure to let your customer know 5 that the renewal is coming up and will be handled automatically. Use this as an opportunity to sell additional products/services or to remind them of the benefits of your service. There is a 48% chance that a happy customer will spread positive word of mouth. Happy customers will tell an average of 5 people about their positive service experience. Every 3 happy customers will bring in one new customer through positive word-of-mouth advertising. 78% of consumers have chosen not to complete a transaction or purchase because of poor customer service. 86% company because of negative service experience. of consumers have completely quit doing business with a 73% company because of a history of good service experiences. of consumers have chosen to spend more money with a New Media Services e the Go-To company w
  4. 4. APRIL 2012 ISSUEJANUARY 2011 ISSUE APRIL 2012 BUSINESS NEWSLETTER JANUARY 2011 BUSINESS NEWSLETTER What to Do About Refund Requests? Secure all information retrieved during the transac- Do you just ignore it, leave it alone 5 tions. Always honor the privacy of subscribers. And and hope it will go away? do not sell their information or accounts to spammers Do you seek professional attention? or other syndicates. Do you fight back or pay it back? The return policy should be explained to subscribers 6 before they start with their subscription. Ensure that customers understood the fact that a return is only allowed when a list of conditions are satisfied. There are two basic reasons why somebody will request a It is best that a copy of the return policy is published refund. The first basic reason is because they simply change their mind 7 online on the company website. Verification emails and decided that your product isnt what they wanted. The second reason is should also contain either a copy of the policy or just a bit more malicious. Someone might decide that they want to keep your the link of the webpage that contains a copy of the product for free without having to pay for it. As a result, they ask you for a policy. refund. In both cases the person asking for a refund might be extremely rude. Your reaction needs to be both professional and calm. What you need To illustrate and interpret the return policy, it would be to realize is that there is no way to really salvage a professional relationship 8 nice to use the company blog. Post blog entries to with somebody who is rudely requesting a refund. It is a bit of a fools game inform subscribers about the return policy especially to try to rationalize with these people. its limitations. Here are some tips on managing a return request: To an ordinary man, a FAQ (Frequently Asked Ques- If you charge a subscriber for a return, the processing fee should 9 tion) - format interpretation of the return policy is 1 be emphasized in the copy of the policy. This is to avoid irrelevant easier to understand. This enhances communication disputes. Imposing hidden charges always results to bad publicity. and understanding between the business and subscribers. Requirements to avail a refund is also Consider offering credits, service swaps and other equal better understood when the requirements are 2 exchanges to minimize cash refunds. However, this should only itemized or numbered. stay as a request and not as an order, unless the return policy It should always be understood that a return policy is states otherwise. 10 created to protect subscribers from human errors Whenever you realize that a subscriber who is availing a refund committed by the business itself. It ensures that 3 has been aggravated by some company faults, try reaching out by customers receive the quality of service they want. giving the subscriber simple gifts. When there are return transactions, expect there are also return 4 frauds. These two exist with each other. Both can be lessened by simple quality assurance checks before anything is sent to the subscriber. New Media Services e the Go-To company w
  5. 5. APRIL 2012 ISSUEJANUARY 2011 ISSUE APRIL 2012 BUSINESS NEWSLETTER JANUARY 2011 BUSINESS NEWSLETTER WHAT DOES GREAT CUSTOMER SERVICE LOOK LIKE? Great customer service is achieved by following a set of business rules. How to provide unforgettable customer service: 1 3 Focus on customer 4 loyalty. Work to create Always be honest with your customers. Communi- Focus on service. loyal customers cate with your customers the way you would like instead of just satis- Service is more to be communicated to when you are the fied customers. than a smiling face customer. and a pleasant 2 attitude. Anticipate The customer isn’t 5 always right, but your customer’s Educate your staff about your products and they’re always the needs. Concen- services. Every hour of training is worth its weight customer. Respect the trate on friendli- in gold. Noting can replace a well trained employee precious input you ness, helpfulness, in the customer service process. receive from your and wait time. customers and act upon it. Live Operators provide efficient, quick and 100% satisfaction guaranteed service for your End-Users. NEXT MONTH ON NOX: EMAIL SUPPORT & ESCALATIONS defined! New Media Services e the Go-To company w