2020 brought us a lot of technological advances and new normals. Although technology is constantly changing and adapting, phone calls remain a top-tier level of communication. Many organizations are adding business communication solutions such as SMS and live chatting. Even with those added solutions, a lot of customers still prefer calling as their main form of contact. In fact, according to Small Business Trends, 60% of customers prefer to call small businesses on the phone. Because of this, it’s important to track call analytics. It’s important that you try to make your phone interactions with customers as effective as possible. Let’s look at 8 call tracking analytics you should be tracking in 2021.
1. Call Source
If you are using marketing campaigns across multiple platforms, it’s smart to use slightly different numbers for each campaign. You’ll give your company an easy way to track the source of the incoming call. Did your callers mostly call using the number posted on your Instagram ad, or billboard? By being able to differentiate where the calls come from, you can make sure you are correctly allocating your marketing budget.
This is extremely easy with the CallHarbor call center capabilities. You can separate your data by phone number to easily look into call volume. Studying this behavior will give you a better idea at what types of marketing campaigns are producing the best leads. Tracking the call source can provide you with other important details too. You can gain insight such as the customer’s number, date and time the call was received. This information can help to inform other real-time analytics that is important to your business.
2. Call Volume
Tracking your call volume will let you know how many calls your business is intaking. It may seem like an overly simple metric, but it’s incredibly powerful and important. Seeing how many calls come in will prove which marketing campaigns are working. It will give you a good idea of how many sales or support calls your are getting, so you can staff appropriately and make sure these calls are being handled correctly. You can learn which day or time of the day the majority of customers are placing calls to your business. This piggybacks on call volume to help with staffing as well.
Customers hate being put on hold. A recent AT&T study showed more than 70% of business calls are placed on hold for an average of 45 seconds each. 60% of the callers placed on hold hang up, and 30% of those that hang up never call back. Long wait times can cause you to lose business. If you track your call volume, you’ll pick up on those important patterns to ensure your customers don’t have long waits on the phone. Happy customers will lead to a better customer experience. In turn, that will improve your customer retention.
3. Abandoned Calls
Abandoned calls are when the callers hang up before they could reach someone. This will happen if the phone is ringing for too long, or they get a busy signal. This is an easy metric to track in the CallHarbor Call Center area of the customer portal. Call center abandonment is an important KPI that should be monitored constantly. The only bad thing about calculating your abandonment rate, is that sometimes abandoned calls are simply due to bad connection, the caller got busy, called the wrong number, etc.
To get your abandonment rate without those simple outliers, try using this easy equation from GetVoIP:
(Number of inbound calls – Number of calls abandoned in five seconds or less – number of calls successfully handled) / (Number of inbound calls – number of calls abandoned in five seconds or less) x 100
The number you are left with is your call center abandonment rate.
So if you received 100 calls in your call center queues in a single day, had 25 of them that were abandoned in five seconds or less, but also had 70 of them that were successfully handled, the equation would look like:
(100 – 25 – 70) / (100 – 25) x 100
In the above example, the call center abandonment rate would be 6.66%.
The remaining five calls were the outliers that were not abandoned or successfully handled, so they could have been attributed to simple disconnections, an inability to reach a live agent, or a wide array of different factors
4. Average Call Duration
Average Call Duration (ACD) measures how long phone interactions between your customer and agent lasts. This is especially important to measure for your sales and support teams, because it gives insight into how efficient your staff is during their calls. Being able to optimize this analytic is a good way to ensure that your team is increasing their close rate with tickets/support concerns, and generally boosting customer experience.
ACD will allow you to find out how you can improve the effectiveness of your calls and how to optimize. The more efficient your staff is on the phone, the more inbound calls they can handle. Improving how effective your team is on the phone means you can up your customer service offering and cut costs. Keeping tabs on your ACD will also help for internal purposes, as it can give you insight into how changes in team procedures are working. If you’ve recently moved some team members around, or are trying a new way of handling support or sales, this can be an especially important metric to follow, so you can see what is working and what is not.
Everyone knows that effective and efficient calls don’t always equal short calls. Sometimes those longer calls are actually higher quality sales leads, or a more important customer issue. A potential customer that is spends longer on the phone with your sales team asking questions and inquiring about your services is likely more serious about becoming a customer. For support, sometimes it takes a little longer to handle an issue. This isn’t always due to lack of trying or productiveness of the employee. In some cases, the issue is simply taking longer because it’s a larger customer, or the issue has a deeper rooted problem.
You can keep your agents at the call duration you want by setting a benchmark that your agents should strive for. You can consider combining a number of different metrics to help you settle on a number. Keeping track of the average call duration will allow you to see if your staff is reaching this benchmark, and what you might need to change to get them there. In the CallHarbor Analytics platform, you have the ability to display real time metrics. This would be a great way to have your benchmarks up and displayed to motivate your sales and support teams.
5. Time of Day of Calls
Time of day of calls does relate a bit to call volume. This metric refers to the actual time of the day that your customers call you. It’s important for your ad analytics, so you can see when your sales calls are noticing your ads and calling in. Especially when you are placing various ads on various social media channels to promote your business’s phone numbers, this KPI offers insight into whether or not your ads are getting through to your customers at the right time.
Being able to track and find patterns in time of day that your customers call shows what time your customers are most active. There’s a correlation here that can indicate if your ads are reaching your customers at the right time of the day. If one of your marketing channels/numbers are not seeing a high volume of calls, you can study your call time and change the ads to run at a time with higher marketing calls.
Similarly to tracking call volume, keeping your eye on call time can help you to judge if your teams are adequately staffed. Getting ahead of your staffing needs will help you to make sure that customers don’t experience long wait times when they call you — and a happy customer is always better for business.
6. Call Completion Rate
Call completion rate refers to the number of customer calls that are successfully connected to your business. The only problem with tracking this metric is that it can be impacted by customer behavior. For example, if a caller hangs up before reaching an agent (abandoned call). You want this rate to be high, of course, because it means you’re taking care of more customers. You can aim to raise your call completion rate by increasing the number of calls your business makes/takes.
7. First Call Resolution Rate
First Call Resolution is exactly what it sounds like. FCR is a direct measure of customer satisfaction. If a customer can get their issue resolved within their first call, they are much more likely to feel satisfied with their interaction. When your agents are equipped to resolve a customer issue the first time a customer reaches out, there’s a higher chance that the customer will be happy.
The higher your FCR rate is, the odds are your customer loyalty number will be higher as well. In order to track this KPI, use the following formula:
The number of customer issues/inquiries resolved in a single call ÷ the total number of incoming calls that have had their issues resolved.
8. Lead Conversion Rate
This software can help you to improve your phone call conversion rate in a number of ways. One such strategy is through lead scoring. These tools can help you to judge the quality of your phone leads. These tools can help you to judge qualified leads based on criteria, such as a lead’s willingness to buy your product or service. With that information, your platform can score those leads for you, so your sales teams can judge if they are worth pursuing.
Conversion tracking software can also help to reduce lead leakage, which is when a potentially viable lead slips through the cracks and is never given the opportunity to become a customer. These tools can help ensure that leads are not forgotten or ignored, but providing options such as tagging or integration with a CRM like Salesforce (which CallHarbor integrates with) will help to keep them top of mind.