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Influential KPIs To Measure Success Rate

Influential KPIs To Measure Success Rate

“Before Influential KPIs, We need to konw about KPIs or key performance indicators are substantial measurable metrics a company can utilize to gauge the failure or success rate of departments, projects, and initiatives.”

Influential KPIs varies and determining which performance indicators are worth collecting, discarding, and analyzing can be tricky. Dedicating valuable resources to the wrong metrics or ignoring influential marketing KPIs happens all the time.

TalkAgent presents you the most influential key performance indicators to measure your success rate.

Have a good read!

Influential KPIs That Matter For Success

  1. Customer Service

If a customer hangs up feeling unsatisfied or the apposite information is not being provided, surely there is something wrong. These KPIs can assist measure the level of your contact center’s overall customer service:

  • Customer satisfaction: This metric is normally measured with the tried-and-true “this phone call will be monitored and recorded for quality and training purposes” method. Contact center communications can be analyzed and scrutinized for opportunities for improvement, agent efficiency, and overall customer satisfaction. Read why creating an emotional connection with your customers is essential.
  • Wait time: Average time spent waiting on hold or being passed around subdivisions can weigh heavily on a caller’s patience. The more time spent in the queue, the less contented a customer is with your service quality.
  • Abandonment rate: When a caller is in the queue for longer than probable or if issues are not being addressed, there is a chance that caller will hang up. Keeping abandonment rates low should be a contact center’s ambition.
  • Agent Efficiency

Well-equipped & well-trained agents make all the difference. Use these KPIs to measure efficiency:

  • Average call length: Simply put, how long does a voice agent spend on the phone with an individual caller? It’s best to be helpful and thorough, and an agent that can be both in a short amount of time is invaluable. That said, do not sacrifice call quality to reduce standard handle times. Instead, leverage the two for best outcomes.
  • Response time and wait time: Both KPIs are variants of how long a caller is kept in the queue. Response time is the average time it takes an agent to answer the call once it starts ringing on his extension (i.e. 5 seconds, 10 seconds or 20 seconds). Wait Time is the overall queue time, from the point a caller started listening to the IVR system (Interactive Voice Response) till the point his call is answered by an agent.
  • Cost Analysis

Use the following influential marketing KPIs to monitor costs that directly affect contact center operations and efficiency:

  • Cost per contact: An efficient way to measure average cost per contact is to select a timeframe (hourly, daily, weekly) and divide mean handle and wrap-up times by all contact center costs for that particular timeframe.
  • Turnover rate: Losing contact center agents influence service quality, especially if untrained new hires are replacing experienced agents. Provide enticements and create a great contact center culture to keep turnover rates low.

The prospect of customer service is evolving before our eyes, and building a successful contact center strategy requires intelligently digging into influential KPIs and setting goals against those metrics. These are just a few KPIs that contact centers regularly measure, but there are plenty more worth applying and analyzing.

Which KPIs are you measuring? Let us know in the comments.

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