5 Customer Service KPIs You Should Be Tracking
In the world of Call Centers, there is Customer Service, the bread and butter of every available service in the world, the cornerstone that makes your business stand in a great foundation for success.
But one crucial question to know how successful this venture is, how do I measure it and how do I know we are doing the right thing with our Customer Service service?
There are important KPI, Key Performance Indicators, that can be easily identified and measure throughout every interaction which is known as Customer Service KPIs, below we have built a list of the five most important ones to ensure quality and excellence are reached.
First Response Time (FRT)
The FRT is potentially the most important of the KPIs that you will find in this list, to ensure that the client is satisfied on their first contact in the shortest amount of time is the key to ensure that their business will retain a solid relationship with your service.
Average Resolution Time (ART)
The ART shares the same space with the FRT, it is the average period that your Customer Service team takes to solve questions, needs, or issues and must remain as low and as solid as possible to ensure that clients are satisfied and returning.
Customer Satisfaction Score (CSAT)
The CSAT stand very close to the top in this list, it stands as the KPI which helps you identify how your clients perceive the quality and effectiveness of Customer Service by asking key questions such as:
- How satisfied are you with your interaction with Customer Service?
- How satisfied are you with the product/service?
- Would you have any recommendations or comments about this interaction?
- Would you have any recommendations or comments about the product/service?
Net Promoter Score (NPS)
The NPS is a measurement that together with the CSAT allows you to understand the full scope of your current client base through their satisfaction and how likely it would be for them to recommend this service to family and friends, a successful Customer Service interaction may not always produce a promoter but it will prevent detractors from arising.
Customer Retention Rate (CRR)
The CRR may be the last in the list but it is as important as the previous items Customer Service KPIs on this list. Customer Retention is achieved through excellent service and ensuring that all client expectations are met.
How to calculate Customer Retention Rate (CRR)
From these points, we can identify how the procedures in place effectively impact the relationship between your business and your client; if these KPIs aren’t met, then actions should be taken to identify any pitfalls or improvements.
Missing out on the FRT or ART can produce a chain reaction in how your clients interact with your service; they may avoid contacting Customer Service altogether and find out other services that provide a faster and more effective response time.
The CSAT is the microscope that gives you the best insight on how satisfied your clients are with their interaction with Customer Service and your current selection of services; if this KPI is not addressed accordingly or not attended at all, your clients may feel ignored and that their opinion is of no concern to your business which in turn may produce detractors.
Interactions Would Take Your Business To The Next Level
On the other hand, by ignoring the NPS, there is ample space for a detractor base to be built and impact revenue and business; it is easier for a detractor to be born through Customer Service interactions when there are wrong procedures or concerns are ignored.
To make it clear in numbers, 41% of consumers will spend less money if they have a terrible experience; for B2B interactions, this raises to 51%, but the main difference would be that they would instead take their business elsewhere than continue with the interactions.
These numbers, in turn, will tell us that at least 41 billion dollars are lost due to these detractors, and this is a number that is only focused on the United States. [1]
Finally, ignoring the CRR allows clients to step out of the spotlight without their needs being met, their comments being heard, or their opinion is considered, building a more extensive base of detractors that generally affect the business.
Suppose the Customer Service KPIs are not assessed. In that case, there is always the possibility of losing critical business and eventually getting behind the race against competitors who take note of what is happening in their most crucial department by looking at these indicators.
Ready to jump into giving your clients world-class Customer Service and ensuring that all these KPIs are met and exceeded?
