Top 5 KPIs to keep in mind for excellent customer experience

You’ve put customer experience at the core of your contact center strategy, and you want to be sure that what you’re doing is on the correct track? Here are five indicators that you must be aware of in order to create a dashboard that accurately reflects your priorities, progress, and the influence of your activities on customer happiness and the quality of their interactions with your agents.

Tracking KPIs relevant to the customer experience is important to gauge customer happiness and evaluate the effectiveness of your inbound or outbound campaigns. Each KPI has its own set of goals and measures a distinct aspect of the customer experience. Here are the 5 most important.

1 – Net Promoter Score (NPS)

NPS is a name you’ve undoubtedly heard of. Since the release of this essay in 2003, in which its author, Frederick F. Reichheld, explains the theory, the ins and outs of it, this indicator has become extensively utilized in the customer relationship dimension. This score is derived from the responses of consumers to a single and valuable question:

“Would you recommend this service or product…to your friends, family or someone you know?”

The responses are scored on a scale of 0 to 10, with 0 equating to “not at all” and 10 corresponding to “definitely,” allowing the respondents to be classified into three groups:

• Customers who are “Detractors “ gave a score from 0 to 6
• Customers who are “Passives “with a score of 7 or 8
• Customers who are Promoters “clients, who scored 9 or 10

Subtracting the percentage of critics from the percentage of promoters yields the result. The NPS is the outcome (a value between -100 and +100). Although the NPS does not directly evaluate customer happiness, it is founded on the scarcely disputed concept that no one recommends a company or a service with which they are unhappy. As a result, you can measure the amount of dedication and loyalty of your consumers. Even if their desire to suggest you is not followed through on, there is a significant link between declaring that they are willing to recommend a business to their friends and family and being loyal to that brand.

The NPS is a KPI that is very helpful as part of your customer listening process since it is extremely actionable! Beyond the score, it may assist you to improve your efforts by determining who your promoters and critics are, and then using that knowledge to improve your campaigns. And thus, will be a key springboard for improvement.

2 – Customer Satisfaction Score (CSAT)

Customer satisfaction indicators are among the most fundamental, but also the most diverse KPIs available to the customer experience. The goal is to figure out how to input the score in such a way that the famed total percentage of pleased customers is achieved, for example automatic e-mail after a request has been resolved, question directly asked by the agent, etc.

The Customer Satisfaction Score (CSAT) is a tried-and-true method of determining short-term satisfaction and it revolves around one simple question “Do you think you’re satisfied?”

This is a common inquiry following a bad customer service encounter or after utilizing a product. The response is either “yes/no” or a score between 1 (not at all happy) and 5 (very satisfied).

Ask the customer to express himself on a few important criteria for a more in-depth study. This will enable you to detect unsatisfied consumers in real time and swiftly address their concerns before they spread. This KPI enables you to protect your reputation. When this basic KPI hits a minimum 70% satisfaction, it is helpful to businesses and customer experience.

3 – First Call Resolution (FCR)

The rate of resolution at the first contact (FCR) frequently reflects the performance of customer service agents, as well as the challenges they may confront despite their good intentions. There is a link between the FCR and the CSAT.

According to a research done by Customer Relationship Metrics, when a second call is made for the same issue as the first, the CSAT drops from 35 percent to 45 percent. According to another study conducted by Service Quality Measurement Group, every 1% rise in CRF results in a 1% increase in CSAT.

While a low rate may indicate that your consultants’ time is being diverted to higher-value cases, it is preferable to spend time on resolving a case rather than speed through it.

4 – Average Handling time (AHT)

The waiting time is one of the major customer service performance metrics that gives you the greatest overview of the entire quality of the service and the appropriateness between client requirements and your resources.

For example, there are two sorts of wait times on the phone: before you get a caller on the line and before the problem is handled.

The time it takes to process a contact is referred to as the Average Handling Time (AHT). In the event of a phone call, you’ll need to add up the time you waited for an adviser to pick up the phone, the duration of the conversation, and the time it took to conclude the case after the call.

However, reducing this KPI can be anti-customer-centric in that it may come at the price of the treatment’s quality. As a result, acting on the time it takes to pick up the phone, when 3/4 of customers lose patience, is more intriguing.

5 – Customer Lifetime Value (CLV)

The Client Lifetime Value is the amount of money a customer provides to the firm over the course of his business relationship. As a result, the benefits created by this client must be calculated after deducting the acquisition and retention expenses.

CLV allows you to assess the customer experience by looking at the entire journey rather than individual interactions. It does so by referring to both:

• The relationship’s durability (loyalty)
• The total amount spent
• The frequency of purchases
• The development of his business connection to the company

NobelBiz: Empower your contact center with a powerful Omnichannel solution

NobelBiz OMNI+ is a true Omnichannel cloud contact center solution created with extensive flexibility and scalability. A cloud contact center software designed for all your needs. Suitable for virtually any communication channel: Voice calls, Facebook Messenger, Twitter, WhatsApp, Telegram, SMS, Email, Live Chat, Webchat, Voicemail.

The integrated activity tracking technology in NobelBiz OMNI+ will allow managers and owners to establish a genuinely equal and fair performance bonus system, giving agents more motivation to do their best for themselves and the firm.

With the OMNI+ custom reporting engine, you can harness the power of data. Get trustworthy information from a variety of analytical analysis, key performance indicators and reporting tools that give real-time and real-time information that you can adjust to generate complete performance reports.

Written by Steven Michael Bederman.