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Be it you are starting a new business or scaling your business further, a complete analysis of the data and metrics is always valuable. Here we provide 15 metrics right from the basics to the advanced ones which are crucial for a business.
Most business owners are prepared for the early-stage challenges of setting up a new venture - such as market research, hiring a team and building awareness of the product or service. But the real challenge is to provide the same VIP customer service to those customers even when your business is growing bigger.
Scaling your business without sacrificing the quality of your customer service is the real differentiator, especially in saturated marketplaces. A good way to make sure you don’t drop the ball on existing customers is to establish certain customer service metrics and track their progress. These metrics will help you analyze the state of your business and monitor if your business is scaling in the right direction.
Customer Service Metrics to focus on for scaling your business
#1. Average First Response Time
This metric indicates the time taken by your agents to send out the first response to a customer query. It has been proven that customers love fast replies. So keeping an eye on your first response time is important to follow especially when your ticket volume spikes.
Auto-assigning tickets to the right team or agent and also distributing them equally will help you keep track of this metric and also identify where the lag is.
#2. Average Resolution Time
Apart from tracking your first response time, you should also keep track of your average resolution time. This metric indicates the average time taken to solve a customer issue.
Taking a longer time to solve the issue, will affect the overall customer experience and will leave them frustrated. Additionally, this metric also indicates the efficiency and the product knowledge of your customer support teams.
The above picture is an example of your average resolution time report generated by a helpdesk software. It shows the source wise split of the average resolution time. Lesser the average resolution time, better your customer service experience.
#3. Monthly Ticket Volume
Even if your product or service is the best out there in the market, you will still receive customer queries. Keeping count of the monthly ticket volume will help you identify if there are any problems with the product or service.
An increase in the volume of support tickets indicates that you need to find out if there is a larger problem either on the product or support side, that requires extra attention. Moreover, it determines the quality of your customer support team and your knowledge database.
#4. Number of support tickets by type
Breaking the support tickets based on the type of issue will provide you with a clear understanding of the type of issues that are more prevalent. This type-wise split will give a clear picture to your support team lead or manager on the type of issues that are being reported the most.
#5. Customer Satisfaction (CSAT)
Customer Satisfaction, or CSAT, is an important key performance indicator that should be closely measured when you are expanding your business. To measure your CSAT score, you can send out a combination of surveys or feedback ratings when the customer visits your website or buys a product.
Similarly, a satisfaction survey can be sent out at the end of a customer interaction regarding the quality of the support provided. Positive feedback increases the CSAT score. But if your CSAT score is dropping, you might have to relook at your processes and implement new strategies to provide a better support experience.
Here is an example of a customer satisfaction survey of Netflix.
#6. First Response SLA Percentage
SLAs, or Service Level Agreements, refer to the agreed time limit within which a support ticket should be responded or resolved. Not only does this help instill a sense of accountability on all support agents, it can also highlight gaps in your system, low-performing agents, or even product issues that are hard and time-consuming to solve.
#7. Net Promoter Score (NPS)
Your Net Promoter Score (NPS) measures the word of mouth promotion for your business, or in simpler terms - how likely it is that your existing customers would recommend your product or business to others. It is a powerful indicator of future business growth on the basis of both new revenue, and repeat revenue as well.
Based on your NPS score, you can determine how satisfied your customers are, and the loyalty of your customer base. A low NPS rating is an indicator that it is a hard time to invest your effort and money to boost your service.
#8. Knowledge Base Success Rate
This metric indicates how successful the content on your knowledge base is in addressing customer queries. If the success rate of your knowledge base is high, then your self-service content is performing well and customers are finding solutions to their queries without reaching out to the support agents.
For example, Freshdesk offers a neatly curated knowledge base with FAQs based on each category. This will help the users find answers to the queries very easily.
#9. Rating Response Rate
The rating response rate is the percentage of people who actually responded to a rating request - whether that was on a form, a survey, an email, chat widget, or other medium. This metric includes both the positive and negative ratings and is indicative of how engaged your customer community is with your brand.
Here, a high percentage indicates that the customers are happy with your service whereas a decrease in the response rate indicates that you should improve your support process based on customer feedback.
#10. Response Time for Social Tickets
Social media is also a platform where your customer queries can be generated. This metric denotes the time taken to respond to social media tickets from Facebook and Twitter. Customers always expect a quick response in social media and so it is important to monitor the response time of social tickets.
#11. Percentage of escalation requests
This metric denotes the percentage of tickets that are escalated to the supervisors or managers. A high percentage of escalations suggest that you need to train your agents on the issues and the product or service. This lack of training or empowerment among the agents can also have an impact on the other metrics.
#12. Ticket Load Analysis
This analysis provides you a report on the time of the year in which the ticket load is maximum.
Keeping track of the monthly/weekly/daily ticket load will help regulate your workflows better and manage the shift rotations of your employees. This will help your agents be more productive during peak time periods.
#13. Customer Effort Score
Less effort from the customer to use your product or service will ultimately result in better customer experience. The CES or Customer Effort score measures the experience of the customer with a particular product or service. This scale is based on ease of navigating and using a product and is marked on a scale of “very easy” to “very difficult”.
If the customer responses are mostly on the difficult to use side, then you should work on providing an easier experience to the customer either in the terms of product usage or product finding. Easing up this process will in turn also reduce the number of incoming customer queries.
At certain times, you would have received a survey to rate how likely and easily were you able to find the product you were looking for. This contributes to the customer effort score.
#14. Bot Success Rate
If you have already implemented chatbots, it is critical to understand if they are easing the burden of your customers and agents, and this metric indicates how well your chatbots are performing.
Your chatbots should be equipped in such a way that it can handle customer queries. If most of the bot conversations are being converted into tickets, then you should train your chatbots to handle complex issues and questions.
#15. Resolution SLA percentage for Social Tickets
This metric denotes the percentage of social media tickets that were solved within the SLA limit. Customers don't receive slow responses in social media and so it is important to monitor this metric. Any negative feedback on social media will go a long way in impacting the buying decisions of other prospective customers.
Facing challenges and struggles as you scale your business are all part of the game. But that shouldn’t be the case with your customers. Before analyzing these metrics, define where you stand.
Knowing where you stand and then analyzing these metrics will help you better develop your customer service standards. Having these numbers will provide you with clear insights on your support functions so that you can make better decisions for your business.
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