In a cut-throat competitive environment, all successful businesses are built around customer satisfaction at the center. While companies are constantly innovating to delight their customers with their offerings, an equally important role is played by the customer service vertical, which ensures repeat business, loyalty, and overall health of the brand.
However, leaving the success of their call centers to chance is a mistake business can’t afford to make. Companies can benefit immensely by setting and measuring the right indicators to rate the success of their call centers in order to continuously improve their performance. However, before jumping to analysis and conclusion, it is important to determine the right indicators that set the benchmarks upon which the performance of call centers will be measured.
For instance, businesses often focus on increasing the number of calls handled per hour while overlooking the importance of the quality of the resolution. To help companies efficiently monitor their call center success, Provana has identified the following key metrics with the help of industry experts that will ensure the success of your call center operations.
1. AHT (Average Handle Time)
One of the most important yet tricky metrics is the average handle time set by the organization for its call center agents. This metric determines how long a call lasts on average in the call center and includes the time it takes to disconnect and pick up the next call.
AHT can be measured as:
The metric is tricky because it can’t diverge too much from the range that an organization sets. This is so because a long handle time could mean that the agents are unable to efficiently help with customer requests, while on the other hand, if the AHT is too short, the customer service agents are probably not providing any real help.
An organization must use quality assurance tools such as call recording and monitoring software to make sure things aren’t falling between the cracks.
The end goal should be to improve customer satisfaction while improving the number of calls closed in a given time.
2. CSAT (Customer Satisfaction Score)
Customer satisfaction is the framework around which all call center operations should be optimized. A study by Microsoft said that 97% of global consumers believe the quality of customer service affects their buying decision and repeat purchases.
Measuring customer satisfaction is an important indicator of the overall happiness of your customers. CSAT scores can be obtained by employing intelligent technologies such as sentiment analysis on the conversation over the call.
Sentiment analysis works by figuring out the tonality of the customer’s voice and integrating it with semantic analysis to come up with a satisfaction score. These scores can help pinpoint customer issues in real-time. Call recording systems that carry speech analytics can replace manual surveys to find out customer satisfaction levels.
Companies should seek to improve their CSAT scores continually through targeted training as well as best practices coaching to set the bar high in accordance with other important metrics such as AHT and call abandonment, among others.
3. FCR (First Contact Resolution)
First contact resolution is one of the hallowed metrics of a successful customer care center. It signifies the effectiveness of the agents in dealing with customer requests within the first interaction itself. Improving this metric can exponentially improve customer satisfaction and loyalty because it reduces the friction involved significantly.
FCR can either be measured as:
FCR can be positively impacted if the organization makes intelligent use of speech analytics capabilities that can provide insights into the customer tonality and semantics in real-time. These action points can immediately be deployed to improve customer happiness levels and resolve issues. Aberdeen’s 2018 Speech Analytics Study found that speech analytics improved the average FCR to 76% as opposed to 23% for organizations that didn’t use the technology in their call center operations.
Low FCR usually indicates flaws in either agent performance or the compliance process or a lack of customer interest/engagement. With the right intervention, the quality of calls can be improved, and FCR can go up significantly, which brings happiness to both the customers and the agents.
4. NPS (Net Promoter Score)
While we are focussed on customer happiness, it is necessary to not ignore the Net Promoter Score (NPS). NPS is an indicator of word-of-mouth affection to your business service, and it impacts the long term association of your customer. A research study by Fred Reicheld (who came up with the concept of NPS) claimed that NPS scores for highly profitable businesses are almost double the scores of average companies.
Calculating NPS essentially involves asking your customer this simple question:
‘How likely are you to recommend <call center/ company name> to your friends and family?’
Generally, the customer answers can be received on a scale of 0-10, and the responses can be classified as follows:
1. Promoters (9-10)
2. Passives (7-8)
3. Detractors (0-6)
The final NPS score can be arrived at by using these numbers:
NPS is a good long-term indicator to track for a call center because it allows the company to make key changes in the customer success strategy and improve relationships with its customers with the right interventions delivered through agent training.
5. CAR (Call Abandonment Rate)
Call Abandonment Rate is simply a metric that tells you how many customers are hanging up the phone before being connected to an agent. It is one of the most important metrics if you measure your overall success because it indicates the levels of customer satisfaction and indicates the likelihood of their attrition.
What does call center abandonment rate calculation look like?
Even though it’s almost impossible to figure out a reason behind each abandoned call, a keen analysis of your overall operations can provide some clues. For instance, the reasons could range from long wait time to wrongly dialed numbers.
However, improving all other metrics can definitely improve the CAR as well, and it’s a good practice to target this below your industry’s average. As a thumb role, try to keep it in single digits.
Now you know which numbers are useful... but where do you begin? All the world’s knowledge is worthless if you don’t act upon it. It’s time you find out if your call center is equipped with recording or analytics software that can generate these metrics and give you detailed insights. Provana’s combination of SonicView call recording and ICAP Analytics will provide you a solution that can deliver superior value and improve both customer and agent happiness. Schedule a demo today!