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Grow Your Bottom Line with these 8 Customer Service Metrics - Voxjar - ContactCenterWorld.com Blog

Grow Your Bottom Line with these 8 Customer Service Metrics

First, let’s start by saying that customer service does not have to be a cost center. Great customer service teams contribute directly to the bottom line.


Here are 4 Reasons why customer service is important to the Company’s Bottom Line.
A quality Call Center allows an organization to:

  1. Reduce churn, increase adoption, and improve retention
  2. Gather valuable customer data for product and service improvements
  3. Identify customer issues and/or upsell opportunities
  4. Provide alerts to identify “at-risk” and satisfied customers

 

Now that we understand the value of great customer service, here are 8 metrics that your customer service team can use to grow the bottom line.

1. First Response Time

First Response Time is the amount of time it takes for your call center agents to contact a customer after they submit a query.
Contacting customers in the shortest amount of time possible will not only lead to more satisfied customers, it can also lead to more repeat sales and reduced customer churn. Adding this metric to your call monitoring form can immediately improve customer experience and call handling efficiency.

2. Average hold time

Managing your hold time for your customers is critical to ensuring they have a good experience with your brand.


3. Post-call survey rating

The first thing to recognize when it comes to post-call surveys is that they are not the same as customer satisfaction scores.
Confusing these two metrics can frustrate your customers and skew the intended results.
A post-call survey should be only about one thing – the call the customer was just on.
This information will tell you what training your agents need, how your call center’s current approach is working, and if the agent is working out.

4. Net Promoter Score (NPS)

NPS has become a hallmark of customer success and is widely used across industries to track the approval rating.
The process of determining your NPS is simple; using a 0-10 scale you you ask your customers the following question: How likely is it that you would recommend [your brand] to a friend or colleague?
NPS provides a good indication of your customer’s overall impression of your brand, and higher NPS scores are linked to repeat customers and referrals.

5. CSAT

Similar to the NPS, a Customer Satisfaction Rating (CSAT) is a good indicator of the success or failure of your customer relationship management program.
The difference is that a Customer Satisfaction Rating is typically measured on a five-point scale rather than a 0-10 scale.
You simply ask each customer to rate their level of satisfaction with your brand on a scale from 1-5.

6. Customer Retention Rate

Customer retention is a metric that allows you to see how many of your customers you keep (or retain), each time a renewal period passes.

Retention is measured at certain ongoing intervals (e.g., monthly, quarterly, or annually) which can differ depending on your business. Knowing this time period is important when calculating your retention rates.


7. Service Quality (ServQual)

Service Quality (ServQual) is a tool developed by Valerie Zeithaml, A. Parasuraman and Leonard Berry based on research they did while writing the book, Delivering Quality Service.
They found that customers care about five very specific characteristics, when it comes the service they receive from brands like yours.


In order of importance, these are the top 5 characteristics of ServQual:

  1. Reliability: The ability to perform the promised service in dependably and consistent manner.
  2. Responsiveness: The ability and willingness to help customers in a timely manner.
  3. Assurance: Demonstrating a thorough knowledge of your product and/or service and an understanding of your customers.
  4. Empathy: The ability to care for each customer as an individual and provide them with the attention they need.
  5. Tangibles: The physical appearance of facilities, equipment, personnel, and marketing materials.

Using customer assessments, you can determine where your call center meets or exceeds customer expectations and where you fall short.

8. Employee Engagement

The final metric to measure and track is employee engagement.
Employees, such as your call center agents, are the ones within your organization who will interact directly with customers.
Happy employees lead to happy customers.
If you put in the effort for your employees, research shows that they will put in the effort for your customers.


Many quality assurance software solutions give you the freedom to measure and track these metrics in your customer service call center. Implement them today and watch your business grow as your customers and employees become happier.

 

Source: https://voxjar.com/8-customer-service-metrics-that-will-improve-your-bottom-line

Publish Date: June 15, 2021 7:07 PM


2024 Buyers Guide SaaS Solutions

 
1.) 
CrankWheel

CrankWheel Screen Sharing
CrankWheel is an easy and simple screen sharing solution, made for the needs of salespeople and customer service agents.

CrankWheel complements voice calls by adding visuals to ongoing calls. There is no need to get the customer off the phone, onto another platform.

Agents share their screens by directing clients to a link that can be sent via SMS, email or simply spelled out.

The client can enter on any device, mobile, desktop or tablet and enters the session instantly. There is no registration or download required by the client.

Features:
- Screen sharing
- Agents can hand control over to the client
- Warm lead capture widget that alerts the sales team instantly of an intere...
(read more)
 



View more from Voxjar

Recent Blog Posts:
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4 Best Practices for QAJune 17, 2021 9:38 PM
6 Mistakes to Avoid on your QA FormsJune 16, 2021 5:41 PM
Grow Your Bottom Line with these 8 Customer Service MetricsJune 15, 2021 7:07 PM
The Mild Chaos of Remote QAJune 15, 2021 4:50 PM
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