Elevating deals with personalized customer support

During Nationale Klantcontact Week, the Dutch national week dedicated to customer contact, we highlight the importance of human connection in the digital age by looking at how personalized interactions with the support team can meet the unique needs of each user. As we look at the evolution of the customer support landscape, we see a journey from reactive to proactive engagement. This foundation sets the stage for exploring the transformation of customer support over the years. At Virtual Vaults, we prioritize exceptional customer support and recognize the critical role it plays for data room users in M&A (Mergers & Acquisitions) transactions. Our commitment is not only to keep pace with technological advancements, but also to ensure that every customer feels valued and understood. 

Evolving trends in customer support 

Customer service can be defined as the direct, personal interaction between a buying consumer and a selling company representative. While sales representatives typically handle the pre-purchase stage, customer support assists existing and potential customers to increase their satisfaction with the company and its products or services. 

From traditional call centers to sophisticated digital platforms that combine AI technologies with human expertise, customer support has evolved significantly over the years. However, the history of customer support is rooted in the wave of innovations that came along with the Industrial Revolution. Back then, if you bought something, you probably had to fix it yourself. It all started with the telephone, and the support was mostly reactive, with companies waiting for customers to contact them with problems or questions. Over time, this paradigm shifted to a more proactive approach, using various channels such as email, live chat, and social media to engage with customers. With the advent of AI and machine learning technologies, customer support has been revolutionized even further, enabling organizations to deliver personalized and efficient service at scale.  

The impact of AI and the value of human interaction 

The integration of AI into customer support has led to the widespread adoption of chatbots, which can handle a wide range of customer queries without human intervention. These AI-powered assistants can provide immediate answers 24/7, improving customer satisfaction and freeing up human agents to handle more complex issues. Among other things, these AI solutions can be used to predict what a customer needs before they ask, facilitate a natural conversation between a customer and a self-service workflow, and create the optimal match between a customer and a support agent when a live interaction is desired. 

The adoption of AI has skyrocketed in 2023, and there are no signs of a slowdown. Nearly half of customer support teams currently use AI. It has already impacted what customers expect, and they are expecting more than ever. Now that customers know how AI can enhance their service experience, making it faster and more efficient, they are not willing to wait for anything less. 

However, the value of human interaction still remains irreplaceable in many industries, particularly those where networking is key. In these sectors, AI has a harder time replacing human operators because customers prefer to build relationships through direct personal contact. 

The importance of human interaction in M&A 

The importance of networking cannot be overstated, especially in the M&A sector. The M&A process is complex and multifaceted, involving multiple stakeholders including buyers, sellers, financial advisors, legal teams, and more. Success in this field depends largely on the ability to build trust, understand needs and objectives, and negotiate effectively. These are elements that are best facilitated through personal engagement.  

Why is personal engagement so important in M&A? For one thing, the stakes in M&A transactions are exceptionally high, with significant financial and strategic implications. To overcome the challenges of this business and facilitate deal closure, it is important to get all of the parties in the same room at a critical stage in the negotiation process.  

Therefore, face-to-face or virtual meetings allow for a richer, more detailed exchange of information. Building a broad network of industry contacts can provide advanced insight into potential deals, facilitating early engagement and strategic positioning. While virtual interactions have become more prevalent, especially given the global nature of many M&A transactions, the essence of these connections remains unchanged. After all, M&A isn't just about two companies merging; it's about people, processes, and cultures coming together.

Customer support for Virtual Data Rooms 

Effective communication in M&A scenarios is also about ensuring a two-way flow of information. This is where Virtual Data Rooms (VDRs) become an essential tool. A VDR is an online repository used to securely store and share confidential information. They play a critical role in facilitating the deal-making process by giving buyers and sellers remote access to the documents they need. The two-way communication flow within these platforms helps align the goals of both organizations, identify common challenges, and develop mutually beneficial solutions: it is essential to the seamless integration of the two companies.  

VDRs embody a technological advancement that goes hand in hand with high-quality, personalized customer support. Customer support within VDRs is proactive, offering guidance and assistance before problems even arise, making the complex M&A process smoother and more manageable. This ensures that both buyers and sellers can fully understand and utilize the capabilities of the VDR, promoting efficiency and security throughout the due diligence process.  

In addition, the emphasis on proactive support within VDR platforms highlights the evolution of customer support from a reactive to a strategic role. It underscores that in the digital age, successful technology solutions are complemented by human expertise and insight. This synergy between technology and personalized support within VDRs exemplifies the future of M&A processes, where success depends not only on the capabilities of the technology itself, but also on the quality and accessibility of the support team behind it. 

Customer support at Virtual Vaults 

At Virtual Vaults, we redefine your deal workflow, offering a secure, efficient experience. One of the key differentiators that has made us the leading data room provider in the Benelux is our 24/7 customer support, available every day of the year. This ensures that you get immediate, personalized help whenever needed. Our journey with you starts with a demo and continues with dedicated support from our Customer Success team. This includes seller and buyer onboarding, as well as kick-offs and calls for specific needs. This approach is not just about solving problems; it is about ensuring a smooth integration of our platform into your M&A activities, providing guidance every step of the way. 

We are in the process of using AI to enhance our service offerings. Currently, our chatbot is integrated into our website to improve navigation and support before joining the platform. We are actively developing our AI capabilities, with plans to expand functionality within the platform itself. This development is part of our commitment to being at the forefront of technological innovation with a human touch. The balance between using AI and maintaining personal customer interactions is delicate, and we provide a user experience that is both technologically advanced and deeply human-centric. 

Schedule a demo with Virtual Vaults to see firsthand how our platform blends technology with human expertise to deliver outstanding service to those seeking a seamless, secure data room experience with exceptional support.