Measuring and keeping track of your customer metrics is an important way to regularly check in on the efficiency of your support team. It’s a steady key performance indicator that is integral to your business’ success. In this post, we will go over 10 important customer metrics to measure – though your company should really narrow down and focus on 2-3 to make your own specific KPI’s.
1. Average Wait Time
The average wait time, or average time in queue, refers to your customer’s wait time before they reach an agent. This metric is directly related to your customer experience and customer retention rates. Long wait times usually result in a negative customer experience. Studies show that around 2/3 of consumers only stay on hold or “in queue” for less than two minutes, while 13% said that no hold times at all were acceptable. What’s more, about 34% or one-third of callers hang up and never call back if their call is not answered quickly. These numbers prove that your average wait time is a huge factor in how good your customer service is in the consumer’s eyes.
2. First Call Resolution Rate
The first call resolution rate is a metric that measures the percentage of customers that have their problem solved on the first call. This can be easily calculated by taking the number of customer complaints solved in one call and dividing it by the total number of customer complaints. 33% of consumers say that the most important aspect of a good customer service experience is resolving their issue in one interaction – no matter how long it takes. If a customer can reach a solution to their problem in the first phone call, they are more likely to be satisfied with their customer service, feeling like it was an easy fix.
3. Average Handle Time
Average handle time is a metric that can help you improve customer service and the efficiency of your call center. It measures the average time a customer spends on a call from start to finish, including wait time/time on hold. Divide each calls total talk time + time on hold by the number of calls to find what your call center’s average handle time is. This is a valuable metric that can also be used to evaluate the performance of individual agents.
4. Rate of Answered Calls
The rate of answered calls is an important metric, because many consumers say that their inability to reach a call center agent is their biggest customer service frustration. Many consumers will even stop doing business with a company if they were unable to reach an agent. We have also seen people run to social media to complain about your customer service, which then gives you a bad reputation. Basically, make sure that your rate of answered calls is a high one – and keep those customers happy.
5. Average Interactions/Ticket
Your average interactions per ticket metric is used to measure how many times a customer contacts support over the same issue. It sort of goes hand in hand with the first call resolution rate. To get this number, just divide the total number of interactions, with the total number of tickets. According to surveys, 36% of consumers feel that the most frustrating aspect of a poor customer service experience is an agent that lacks the knowledge or ability to solve the customer’s issue. 31% say it is having to repeat or provide their data multiple times. This can be lessened by making sure your call center has knowledgeable people that will be able to answer questions and help a customer in less interactions.
6. Reply Time
The average reply time is a metric that measures the average time for each response to a ticket. Once a ticket has been submitted, how long does it take until someone from your team reaches out to the customer? That is what we measure here. Your response time can factor into your customer satisfaction rate. The faster the reply time, the more your customer will feel like you care about their issue.
7. Unresolved Tickets
As I’m sure you know, customer with unresolved issues are not happy customers. Most companies know that as basic knowledge. Your team should be making a consistent effort to keep this number as low as possible at all times. If you are having frequent unresolved issue, you should circle back and make a plan to combat this. What similarities do these unresolved issues have? What can your team do to move forward on preventing these issues from happening again?
8. Customer Satisfaction Score
Your customer satisfaction score is, of course, a very important metric to measure. It directly correlates to how happy your customers are. Happy customers are more likely to stay with your company, and recommend your company to friends and family. You’ll find your customer satisfaction score by giving surveys to your customers that ask questions such as, “How would you rate your overall satisfaction with CallHarbor?” CallHarbor has a customer satisfaction rate of 6.98 out of 7. We make it our #1 value to give great customer service – always putting our customers first and making sure they have reliable products and a easy to reach, knowledgeable support staff.
9. Repurchase Rate
Your repurchase rate is also know as your retention rate. It’s the rate at which your customers repurchase your product, return to your store, extend their contract, or however you measure customer loyalty. Like your customer satisfaction score, it’s an easy metric to keep track of how happy your customers are. Happy customers are more likely to stay customers longer. Increasing customer retention rates by as little as 5% can increase profits by up to 95%.
10. Employee Satisfaction Rate
Last but not least, is your employee satisfaction rate. This rate is very important because without happy, loyal employees, your company won’t function well! Happy employees are more likely to put in more hours, work harder during those hours, and exude the type of good, loyal attitude that you want from them. Happy employees will embody a more true tone when talking to customers, because they will actually care about the services and products they are talking about and taking care of.
Your company needs to provide customers with great customer service across a variety of platforms, such as call centers and social media. Tracking the metrics above is a great was to ensure that your company is satisfying your customer’s wants and needs. Pick a few of these key performance indicators to really dial down on as company, and watch your customer satisfaction soar!