{"id":274,"date":"2016-09-02T10:00:41","date_gmt":"2016-09-02T09:00:41","guid":{"rendered":"https:\/\/www.feverbee.com\/roi\/?p=274"},"modified":"2023-04-07T08:41:27","modified_gmt":"2023-04-07T08:41:27","slug":"reduction-in-costs","status":"publish","type":"post","link":"https:\/\/www.feverbee.com\/roi\/reduction-in-costs\/","title":{"rendered":"Reduction in Costs"},"content":{"rendered":"<section class=\"content standard\"><div><\/p>\n<p><aside class=\"\"><\/p>\n<h1>10<\/h1>\n<h2>Reduction in Costs<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7\" src=\"\/wp-content\/uploads\/sites\/2\/2016\/09\/sponsored-by-sap.png\" alt=\"Sponsored by SAP\" width=\"113\" height=\"65\"><\/p>\n<p><\/aside><\/p>\n<p><article class=\"\"><\/p>\n<h3>Now we get to change tracks a little. Many organizations don\u2019t create an online community to increase revenue via retention or acquisition; they create a community to save money. Many of the most successful examples of community we hear about are based around saving money. These communities have the closest immediate links to value and tend to gain high levels of funding. The most common are communities designed to reduce customer service costs via call deflection.<\/h3>\n<p><div class=\"tweet\">\r\n\t<a href=\"https:\/\/twitter.com\/intent\/tweet?text=Many+of+the+most+successful+examples+of+online+community+we+hear+about+are+based+around+%2Asaving%2A+money&amp;url=https:\/\/www.feverbee.com\/roi\/reduction-in-costs\/\" target=\"_blank\">\r\n\t\t<h3>Many of the most successful examples of online community we hear about are based around *saving* money<\/h3>\r\n\t\t<span class=\"tweetButton\">&nbsp;<\/span><p class=\"tweetLink\">Click to Tweet<\/p>\r\n\t<\/a>\r\n<\/div><\/p>\n<p>However, you might also want to measure if your community is (or could be) used to reduce customer acquisition costs, research costs, or recruitment costs. If the community can perform any of these tasks more more efficiently than current methods, there is a clear return.<\/p>\n<p><\/article><\/p>\n<p><\/div><\/section>\n<section class=\"content fullWidth grey\"><div><\/p>\n<p><article class=\"\"><\/p>\n<h2>Potential Benefits<\/h2>\n<p>The potential benefits (and methods of achieving these benefits) are shown below.<\/p>\n<table width=\"623\">\n<tbody>\n<tr>\n<td rowspan=\"3\" width=\"184\"><strong>Reduced Marketing Costs<\/strong><\/p>\n<p>Attracting new customers to the business<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/td>\n<td width=\"208\"><strong>Customer Service Costs<\/strong><\/p>\n<p>Reduced cost in customer service attributable to the community<\/td>\n<td width=\"231\">\n<ul>\n<li>Call deflection<\/li>\n<li>Indirect call deflection<\/li>\n<li>First contact resolution<\/li>\n<li>Average handling time<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"208\"><strong>Customer Acquisition Costs (CAC)<\/strong><\/p>\n<p>Reduced costs of acquiring a customer<\/td>\n<td width=\"231\">\n<ul>\n<li>Web traffic<\/li>\n<li>Lead generation<\/li>\n<\/ul>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"208\"><strong>Research Costs<\/strong><\/p>\n<p>The equivalent cost of gaining similar insights from elsewhere<\/td>\n<td width=\"231\">\n<ul>\n<li>Focus groups<\/li>\n<li>Surveys<\/li>\n<li>Interviews<\/li>\n<li>Idea generation<\/li>\n<li>Idea validation<\/li>\n<li>Alerts of potential problems<\/li>\n<li>Bug identification<\/li>\n<li>Trending topics<\/li>\n<li>Improved speed to remove problems<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"184\"><strong>Reduced Recruitment Costs<\/strong><\/td>\n<td width=\"208\"><strong>Recruitment Costs<\/strong><\/p>\n<p>Reduced cost in hiring and training a new staff member<\/td>\n<td width=\"231\">\n<ul>\n<li>Advertising for hires<\/li>\n<li>Qualifying hires<\/li>\n<li>Reduced training costs (time and expense)<\/li>\n<\/ul>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/article><\/p>\n<p><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-274","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.3 - aioseo.com -->\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Richard Millington\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.feverbee.com\/roi\/reduction-in-costs\/\" \/>\n\t\t<meta name=\"generator\" content=\"All in One SEO Pro (AIOSEO) 5.0.3\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"roi 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