Technology and Human Capital: Future Directions for Customer Service

All customers are not equal. Some customers are more profitable than others. Therefore, companies need to spend more to serve and retain the profitable customers. In essence, companies should understand the profitability of different segments of its customer base. And yet few companies actually measure the profitability of its different customer segments. Without understanding needs and profitability by segment, it is difficult to prioritize customer service investments and prescribe customer service levels. In the end technology alone will not resolve customer related issues. The key to success is to use technology to eliminate routine tasks, thereby giving CSPs greater time to bond with customers through direct interaction.