Top 8 KPIs to Evaluate Customer Service
According to American Express, 90% of people use customer service as a factor in deciding whether or not to do business with a company. Thus, providing seamless customer service has become a key factor in any business’s growth. As a result, businesses are now providing call center solutions by evaluating their customer service performance.
There exist several Key Performance Indicators or KPIs, by which a call center can evaluate their customer service performance. They can help your organization in:
- Determining the level of customer service
- Understanding the factors keeping you behind
- Channelizing efforts in the right direction
- Giving a satisfactory experience to your customers
Here are some of the key metrics to measure customer service success with higher accuracy.
First Call Resolution Rate
The Ascent Group shows that 60% of companies that measure FCR for more than one year report a 1 to 30% improvement in their performance. Thus, the FCR rate is one of the most important KPI to measure the customer satisfaction level. It is the percentage of calls that an agent can resolve in a single shot, without transferring. If the customers get solutions in their first attempt, they will feel satisfied and will see that your service team is well-trained and efficient.
Solution: Call center agent management can optimize their FCR rate by training the agents to improve their communication skills and deliver quality service.
Volume of Abandoned Calls
This KPI measures the number of customers that dropped the call when they got a busy tone or if the agents were unavailable even after a long waiting time. According to an Accenture study, customers go to a competitor when they can’t connect and 68% of them don’t even go back. So, this KPI is very important as a missed call is equal to a missed business opportunity.
Solution: Using call center AI can help in optimizing this KPI. It can handle many calls at once and customers do not have to wait for long. Also, it can have a natural conversation to provide effective service.
Average Response Time
It refers to the time taken by an agent to provide a solution to the customers’ queries. According to research, 59% of customers are more likely to buy when they get answers under a minute. Thus, a delay in problem resolution can annoy the customer which can result in a poor customer service experience.
It is calculated by subtracting the time of customer request from the time of first response. Optimizing the time taken by agents to resolve queries is important because it:
- Makes the customers feel prioritized
- Indicates the promptness of your team’s issue addressing
- Can help you determine if your company needs more resources
Solution: Time taken to resolve a problem can reduce with the help of call center automation. Companies can either implement chatbots or use AI-Powered voice bots to provide 24/7 instant support to customers for their basic queries.
Net Promoter Score
NPS measures how likely your customers are to recommend your products and services to others. Also, it gauges the loyalty of the customer-company relationship.
Solution: It can be improved by making the best use of every opportunity to satisfy the customer with your services.
Customer Retention Rate
It measures the number of customers that a company is able to retain for a given time period. Acquiring new customers can make them permanent and improve the image of a brand.
Solution: Great customer service leads to high CRR. It will help the customers develop trust and loyalty to your brand. And it is very important because 80% of a company’s profits come from their permanent customers. Companies can increase their customer retention graph simply by providing a higher customer satisfaction level.
Average Post-Call Work Time
A call center agent’s work does not end with taking and answering calls. They also have to:
- Update databases
- Send out emails
- Take the queries to the concerned teams
- Follow up on them
And the time taken to do that comes under the average post-call work time. This is again an important KPI that can help you to work on your team’s adequacy.
Solution: This KPI can be optimized by using call center AI. It can automatically follow-up with the customer queries and update databases. As a result, agent performance improves.
Customer Satisfaction Score
It helps to evaluate the client’s service satisfaction with your business’s products and services. Measuring customer service satisfaction helps to gain insights into what they think about you. Companies can do this by collecting feedback from customers in real-time. They can create surveys and ask for ratings on a scale of 1-10.
Solution: This score can be improved by implementing ways to collect quantitative and qualitative feedback. And rather than wasting manpower on this, companies can use AI-Powered voice bots to take effective feedback from customers in real-time. It will help in saving the agents’ time and improving customer satisfaction levels.
Customer Handover Rate
The number of times a customer’s call is forwarded to a different agent is calculated as the customer handover rate. Call forwarding happens when an agent can’t solve a problem or knows a colleague who is better qualified for that. However, it affects customer service experience as the customer feels that the agents are unqualified. Also, being bounced from one agent to another annoys them if it happens repeatedly.
Solution: However, this KPI can be optimized easily by using call center automation like speech analytics to determine which agent will be most likely to resolve a particular customer’s issues. This way, the agents will be connected with an apt agent and their call will not get forwarded.
We help in providing solutions like voice bots and speech analysis that can help in bettering call center customer service experience and take businesses to newer heights. We are offering a live demo of our AI-Powered solutions to answer your queries.