Groundswell Support Is Taking Over Traditional Methods

This week I will be talking about ways in which you can use Groundswell support rather then traditional support to save your company time and money, an example on how I feel the private financial industry could use it to their advantage, and lastly ending with a picture that demonstrates how a company uses Groundswell support effectively.

Traditional Support Versus Groundswell Support

For the most part companies don’t like support systems. It can cost a lot of money and it means that people are having difficulties with your products. The traditional support method would be to call the companies call centers or their technical support system. “An average call to a company’s call center cost between 6-7 dollars when including all costs. Technical support calls cost around twice that: $10 to $20 (Bernoff, Li, 2010).” Obviously these costs add up quickly if a bunch of people are calling with problems with your company’s product. So how does one reduce such costs? Using Groundswell support is one way to solve these issues. By diverting these customers to your company websites or forums they can get the same type of help while reducing costs. For instance if there was one common issue that has been occurring with one of your products you could post a FAQ forum. This would be where people who are experiencing this problem can read about how to fix the problem. Your company can reduce costs significantly by people using your Groundswell support rather than calling the support centers asking the same question. In essence by taking 10 minutes and posting the solution online, you can save multiple hours telling these people one at a time on how they can fix the problem that’s occurring. This is where your company will see an ROI from Groundswell support. Also by setting up a forum this will allow for community members to engage with one another where they can help each other fix problems. These member essentially save your company millions of dollars since their advice on fixing the problem comes at no cost, as these community members are answering question solely driven by their passion towards the product and technology offered. The “Groundswell” book refers it as the psychic income.

How A Private Financial Firm Could Use It To Their Advantage

I believe the main way a financial firm could use this to their advantage would be by starting up an online forum. This would be largely made up of a private community of just your clients, however outside individuals would be able to look into what’s being discussed if they had any questions about your company. On the forum you could have FAQ’s about your company on what you do for instance and what type of costs and fees are linked to your products and services. This allows for greater transparency to your clients as there is no hidden fees and you can discuss what each service provides and ultimately save your company money and time from using traditional client support. Also by starting up a forum clients can interact with each other and discuss what services they like or ask questions to other clients who have your products and see if they should get it or not.

Who Does This Effectively?

rbc

RBC is one company who uses Groundswell support effectively to better manage client support. This is a private forum that gives RBC investing members access to a community support site. On this site you can connect with other individuals and seek advice and share your thoughts about investing. It’s a great way to get your clients talking about their finance and to think about your company’s products and services

I have attached the link if you like to know more about RBC’s Direct Investing Community.

Reference:

Kaplan, A., & Haenlein, M. (2010). Users of the World, Unite! The Challenges and Opportunities of Social Media. Business Horizons, 53(1), 59-68.
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