The Cat’s Out of the Bag! Opus Research Validates The Business Value Of Helpshift Deployments
By John Tenore
As organizations evaluate their shift toward a digital-first customer service strategy, an important question people commonly ask is, “What type of value can we expect from using the Helpshift platform?” To help answer that question objectively, Helpshift recently commissioned Opus Research to conduct a study of brands that have deployed Helpshift solutions or the Helpshift Connected Customer Conversation platform.
Opus set out to document and quantify the business value brands created by adopting Helpshift. They achieved this by surveying multiple Helpshift customers regarding the technology’s impact in the areas of customer experience, customer retention, CSAT, support costs, deflection rates, and company profitability. Opus published the study results in this report, The Real-World Business Value of Conversational Engagement.
It’s important to note that the Opus report uses the term “Conversational Engagement” to describe how brands engage customers using Helpshift. The Helpshift platform and solutions enable conversational engagement by combining AI, bots and automation to connect all customer service channels and embed them within a single messaging thread – what we call connected customer conversations.
Opus discovered that brands have realized significant business value from Helpshift in four primary areas:
- Reduced costs of customer support
- Faster response times
- Higher long-term CSAT
- Accelerated product development
Let’s take a closer look.
Reduced costs of customer support
Reduction in support costs were found to be common among Helpshift customers, and Opus saw fit to call out two cases in particular. They cited a diversified ISP that was able to save $6.3 million in support costs by migrating 30 percent of support traffic away from phone-based agents.
Opus underscored the ROI of Helpshift for brands whose mobile apps make up a significant part of their business. Opus says that a multi-million-dollar electronic gaming specialist reduces support expenses by more than 30% in less than 6 months. The company emphasized Helpshift’s mobile SDK as a factor in accelerating business value. The corresponding ROI calculation showed that the company’s initial investment in Helpshift solutions is expected to yield an ROI of 1,200 percent per year.
Faster response times
Automations, Opus found, are dramatically reducing the average time it takes for customers to feel engaged with a brand’s support service. Citing yet another electronic gaming company, Opus noted one brand that reported reduced response times for help requests by 90 percent. The result, stated Opus, was that the actual volume of help requests declined by 65 percent due to a lower number of follow-up calls regarding open issues.
Higher long-term CSAT
Harking back to the faster response times afforded by AI, automation, and bots, Opus reported that the same gaming company that sped their response times by 90 percent also saw their CSAT score jump by 130 percent. The customer stated that the rise in CSAT was due in large part to the faster response times and higher resolution rates – both driven by Helpshift technology.
Opus highlighted the value of asynchronous conversations and the impact they have on raising CSAT. By enabling consumers to initiate a conversation with a brand’s support function and continue that conversation over time from any device, brands see jumps in CSAT. Opus credits the jump in CSAT to consumers no longer needing to pause their normal in-app activities. “If they are gamers, for instance, they can initiate a support request directly from the game they are playing, simply by starting a messaging-based conversation in-app,” wrote Opus.
Accelerated product development
Finally, Opus noted that brands can gain ROI from unexpected places when using Helpshift. They cited one brand that obtains substantial actionable data from customer conversations. The brand captured these digital interactions, greatly increasing the speed of information sent to programmers and content developers regarding product improvements. When it comes to the fickle modern consumer and the low cost for him/her to switch apps or games, one cannot overstate the value to a brand of continuously getting their product right.
How high can your ROI go using Helpshift?
According to Opus, use-case driven deployments of Helpshift prove that automated handling of customer engagement can go hand-in-hand with higher CSAT. To learn more about how customers of Helpshift are boosting their brand value and customer satisfaction, download the Opus report, The Real-World Business Value of Conversational Engagement. The report provides details around many of the intangibles that coincide with these impressive data points.