E-Commerce
Industry Soaring.-A
new study shows that online retailing, travel, brokerage and auctions
are stronger,...
E-Commerce
as a Way of Life.-Internet
usage as a part of people's everyday lives is increasingly pervasive
around the world, says a new study,...
Companies
Failing at Online Customer Service.
U.S. companies are failing at online customer service, forcing
consumers to bypass email service for the telephone, according
to a new study from Jupiter Research.
The study shows that 88% of consumers surveyed expect a response
to email inquiries within 24 hours. The problem is that only
54% of companies meet that expectation -- the same percentage
as in 2001, despite an increase in Customer Relationship Management
(CRM) technology spending.
Growth in CRM spending is expected to continue at a rapid rate
at least through 2008, according to another Jupiter Research
report.
''Companies that fail to get serious about their management
of customer service email now, will pay the price with higher
customer service costs and lost revenues down the line,'' says
David Daniels, a Jupiter Research senior analyst. ''This issue
will be compounded as customer service email inquiries will
rise from 1 billion in 2001 to 3.3 billion in 2008.''
Daniels adds that inadequate service through the online channel
will only continue to drive consumers to turn back to their
telephones. ''Companies without efficient management of their
customer service emails are better off sending site visitors
directly to their phone support center,'' he says.
IT managers are increasingly turning to CRM technology, according
to a Jupiter Market Forecast Report. CRM technology spending
is expected to grow from $2.3 billion in 2003 to $4.7 billion
in 2008. The report also notes that financial services companies
are expected to continue to be the largest spenders on CRM,
with their expenditures jumping from $3.4 billion in 2003 to
$5.9 billion in 2008.
