Boosting Customer and Employee Happiness with AI that Helps Break Record Sales: Freshworks' AI-driven Software Revolutionizes Customer Support at Monos
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Insights
The integration of Freshworks' customer service solutions by Monos has demonstrated substantial operational improvements, which are likely to have a positive ripple effect on their business performance. The reported 80% deflection rate in customer queries and a 150% increase in resolution speed are indicative of enhanced efficiency and productivity. These metrics are crucial as they directly contribute to customer satisfaction and retention, which in Monos' case, has manifested in an 85% customer retention rate during a peak sales period.
Moreover, the 500% sales increase during their Black Friday event is a remarkable figure that suggests a strong correlation between customer service quality and sales volume. This performance exceeds industry norms for retail events, where a significant sales increase is expected, but a fivefold growth is exceptional. The underlying factor for such success could be attributed to the seamless customer support provided during high traffic periods, which is a critical component for converting leads into sales, especially during competitive events like Black Friday.
From a financial perspective, the operational efficiencies gained through Freshworks' solutions have likely contributed to a reduction in overhead costs for Monos. The automation of routine tasks and AI-assisted responses mean that the company can manage a high volume of customer interactions with a relatively small team of 31 agents. This suggests a lower cost per interaction and an improvement in the overall margin due to optimized resource allocation.
The substantial increase in sales, coupled with improved customer retention, positions Monos for a favorable outlook in terms of revenue growth and long-term customer value. Investors and stakeholders should note that such performance improvements, if sustained, can lead to upward revisions in revenue forecasts and potentially impact the company's valuation positively.
Monos' strategic move to enhance its customer support through AI-powered solutions is a testament to the growing importance of customer experience in e-commerce. The reported Customer Satisfaction (CSAT) score of 86% is a strong indicator of the quality of service being provided. High CSAT scores are often correlated with increased customer loyalty and positive word-of-mouth, which can be more effective than traditional marketing in attracting new customers.
Additionally, the internal impact on Monos’ workforce, such as agent promotions and a more fulfilling work environment, suggests that Freshworks' solutions are contributing to a positive company culture. This can have indirect benefits on business performance, as engaged employees are more likely to deliver better customer service and drive innovation.
Monos leverages Freshworks customer service solutions resulting in deflecting
SAN MATEO, Calif., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH) has announced that its customer Monos, a high-end online luggage retailer, has completed a digital transformation of its customer support operations through the adoption of Freshworks’ customer service solutions. The AI-powered ticketing and conversational support solutions have helped Monos increase agent efficiency—making the retailer’s customer happiness agents, and customers, even happier.
Monos is dedicated to ensuring its customers' satisfaction in every aspect of its operations—from its stylish and durable product design to its customer support. However, as the company experienced significant growth since its launch in 2018, its IT infrastructure struggled to support its customer-centric approach. With customers resorting to emailing the CEO directly, it became evident that a systematic approach was needed.
To address these challenges, Monos implemented Freshdesk to support multiple communication channels, including email, chat, Instagram and Facebook. The company is also using Freddy AI for its new generative AI capabilities. Agents have improved productivity and efficiency with AI suggested responses, automated workflows of support operations, and chatbots to quickly resolve customer queries, leading to exceptional customer experiences.
With Freshworks, Monos was able to streamline support requests and automate responses pertaining to refunds, returns, and queries across various communication channels—delighting customers, saving time for their agents and optimizing resource allocation. The solutions provide valuable insights into customer data, allowing Monos to identify areas for improvement within their business, so they can provide customers with a positive support experience.
"It was a game changer to see all of our processes consolidated,” said Jacen Cabading, Customer Experience Manager at Monos. “Freshworks’ solutions have not only saved time and resources but have empowered our agents to focus on strategic tasks, contributing to a more fulfilling work environment. Some of our agents have even been promoted within the company to work in other departments!"
Freshworks suite of customer service products have positively impacted Monos' operations. The customer service team achieved an impressive
With an exceptional Customer Satisfaction (CSAT) score of
“We anticipated high traffic during our month-long sale, but were blown away when our website traffic doubled in just the first week,” said Mike Wu, Director of Ecommerce and Customer Experience at Monos. “Freshworks’ customer service solution helped our agents navigate the high volume and handle customer support issues seamlessly. We set out expecting to see a
Customer retention and sales during Black Friday saw significant improvement, with Monos achieving an
"We're thrilled to be part of Monos’ digital transformation success,” said Mika Yamamoto, Chief Customer and Marketing Officer at Freshworks. "Our AI-enabled customer service solutions deliver delight for Monos’ customers by providing seamless support through the channel they chose including chat, email and social channels. Automating customer resolutions also dramatically increases agency productivity and enables lightning-fast, data-driven decisions—the best of both worlds. The success we’ve seen Monos enjoy is a testament to the power of AI to take a powerful brand’s experience to the next level.”
About Monos
Thoughtfully considered luggage, bags, clothing, and travel accessories – designed with intention, crafted with care, and made to last. Monos is a travel lifestyle brand headquartered in Vancouver, Canada. They are the first company in this category to be Climate Neutral Certified.
About Freshworks
Freshworks Inc. (NASDAQ: FRSH) creates AI-boosted business software anyone can use. Purpose-built for IT, customer support, and sales and marketing teams, our products are designed to let everyone work more efficiently and deliver more value for immediate business impact. Headquartered in San Mateo, California, Freshworks operates around the world to serve more than 66,000 customers, including American Express, Blue Nile, Bridgestone, Databricks, Fila, Klarna, and OfficeMax. For the freshest company news, visit www.freshworks.com and follow us on Facebook, LinkedIn, and X.
© 2024 Freshworks Inc. All Rights Reserved. Freshworks, Freshdesk and Freddy AI and any associated logo are trademarks of Freshworks Inc. All other company, brand and product names may be trademarks or registered trademarks of their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Freshworks Inc. or any aspect of this press release.
Media Relations Contact:
Jayne Gonzalez
PR@freshworks.com
408-348-1087
FAQ
What company completed a digital transformation of its customer support operations through the adoption of Freshworks’ customer service solutions?
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