Five to ten years ago, cable TV was dominating the market. However, the past several years have witnessed the takeover of streaming and subscription-based services which emerged as an innovative alternative to cable TV. This offered greater affordability, convenience, and autonomy. As the latest digital solutions continue to roll out, streaming companies face the threat of new entrants while also having to manage and retain their existing base as well as satisfy the rapid influx of new customers. This means flooding volumes of new customers that will require a strong support team. As we have seen with the Cable & Telecom industry, companies who employ a traditional approach of outsourcing customer service take on unnecessary additional costs.
As the demand for streaming services rises, a customer service or customer care approach will not suffice. How will streaming companies continue to afford their largest differentiator? By charging low fees to their customers.
Through a sales support program, streaming companies can turn a high cost producing customer service department into a revenue generating sales center that pays for itself.
Why Outsourcing Customer Service for Streaming Companies Doesn’t Work
Customer experience has quickly become a critical aspect of the modern day business and a determiner of customer Lifetime Value. Digital services such as streaming and subscription-based services (Connected TV) continue to rise in popularity, providing a seamless experience which will be more imperative and potentially more complex than ever.
Streaming arose as an alternative to traditional cable TV, highlighting gaps in cost, convenience, and overall user experience. As digital solutions began taking over, so did the streaming industry and subscription-based services. Older companies who are not traditionally digital have had to pivot and reconsider how they operate, particularly within their customer support and sales departments. This shift is posing many challenges to the traditional customer service model that many older cable companies still follow. Not only must industries such as Cable & Telecom rethink their approach, but players within the streaming industry itself must be cautious not to implement traditional customer service into their digital model to avoid stunting their growth. With continuous innovation and digital on the rise, here are the customer service challenges we have identified:
Consumer expectations are rising
As digital platforms continue to grow and improve, consumers expect a seamless experience with each brand encounter. When a customer calls in to speak with a brand representative, they expect that representative to already have access to their account information, including an in-depth understanding of the customer’s product plan, billing, and personal information. Along with the expectation of increased access to customer information is the increased savviness of customers, meaning sales associates will need to be trained to tackle remote technical issues.
Difficulty managing subscriber churn in a viciously competitive market
Streaming services are seeing quarter over quarter churn rates as competitive solutions skyrocket. Although it might seem as though customers using streaming or subscription-based services are more loyal, the same drivers—cost, selection, interface, quality of service/support—will influence their switching habits. S&P Data Digital’s RaaSIQ solution can identify customers who might be thinking of leaving/switching and engage them to work to retain them. Unlike customer service agents, our sales personnel are trained in retention strategies and understand how to engage customers during valuable calls.
How S&P Provides Streaming & Subscription Sales Support
Sales support from S&P Data Digital is comprised of four services that focus on helping you retain clients and deepen existing relationships:
The world of sales has drastically changed post-COVID. Video sales have replaced door-to-door selling. With fewer traditional selling touch points, we apply innovative acquisition strategies and tactics:
The new normal has led to fundamental changes in how individuals and organizations buy. Market dynamics and secular tailwinds make the S&P Data Digital Account Management service a compelling pick for expanding the Lifetime Value (LTV) of your customers. Our founder-led thinking allows us to devise strategies that deliver nimble, measurable results. S&P Data Digital provides you with the management tools you need to:
It is five times less expensive to retain customers than to acquire new ones. We offer several exclusive benefits to our customers with our all-encompassing digital and strategic approach:
Even if you can’t retain every customer, implementing Win Back strategies alongside the right sales support can help you. Our team wins back the defected customer and maximizes yield through timely and scalable actions that include:
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S&P Data Digital Streaming Program Case Study
Since 2014, we have operated a 20 person program managing care and technical support for Canada’s largest streaming service. Our program runs 3500 to 4000 hours per month from 8am to midnight. Our agents have access to an array of devices for virtual troubleshooting with KPIs including a quality score of 85%, AHT, and response rate.
We offer around the clock sales support to minimize the risk of customer churn from a major streaming platform.
We segmented our sales teams to handle the top 5 customer inquiries: accounting setup & information, activation & setup, streaming issues/technical, payment details, and renewal & subscription. Additionally, we offered omni channel support with Inbound and Outbound calls, social media support, and email support.
Our sales team was able to answer 80% of IB calls within 20 seconds. Our social media support was able to answer inquiries within 3 minutes. Additionally, our program scored top NPS marks among all service providers.
Ready to provide the best Streaming & Subscription sales support?