Here’s what customer support experts have to say about delivering great customer support with the right metrics and KPIs.

Customer support is an integral part of any business. Especially now that almost every company has an online presence. People are more vocal and expressive online about the way a company interacts with them. So it’s safe to say that poor customer support rarely goes unnoticed. In fact, as much as 78% of customers will choose to forgo a purchase if a company provides poor customer service.

But the question is, do you know how well your customer support team is performing with your customers? How do you make your customer support processes efficient?

The answer lies in key support metrics that you can use to measure how good your customer support is on various fronts. Tracking these metrics will help you identify potential bottlenecks and alleviate them to work more efficiently

Identify the right metrics for your industry

Arun Jagannathan van CrackVerbal says digitization has helped them identify the right metrics to monitor the effectiveness of their customer support. Knowing your right KPIs for the industry can involve many different factors. For example, the target audience of CrackVerbal are students who are preparing for various competitive exams. They tend to contact the support team to clarify any doubts, queries, and questions that may hinder their preparation. And so for CrackVerbal, measuring their students’ confidence after support interactions became crucial.

“So, I think the whole idea of ​​digitization for us, you know, was a process of identifying the right metrics, and I think that was the main challenge.” he says.

To better answer this question, we spoke to several industry leaders in customer support and experience to understand WHAT it really is that makes a support function an industry benchmark.

The twenty-minute canal

At Verloop.io, we are driven to help brands achieve the best possible customer support experience. To make this easier, we’re hosting a podcast called The Twenty Minute Moat, where experts from various industries share their thoughts on key customer support metrics and tips you can use to improve your understanding of the interplay of customer support and experience.

Statistics management by experts to measure your customer support performance

Let’s take a look at what industry experts from Bajaj Allianz General Insurance, Licious, WazirX, Cashfree, and Milaap have to say about the KPIs for measuring customer support:

1. Higher CSAT – The Milestone To Reach

The CSAT is the single most important metric any organization should look to to streamline its customer support functions.

It quantifies performance based on how customers rate interactions with your support team. This is usually what the feedback section that asks you to rate a customer support interaction is for. You can average the results to give you a composite customer satisfaction score.

As rightly stated by Sameer Nagpal “The most important measure of effectiveness, in my opinion, is your regular CSAT or customer satisfaction.”

Watch the full podcast here: Why the future of customer support is omnichannel – Sameer Nagpal, WazirX

Brands should strive to collect proactive feedback, not just reactive feedback. It’s important for brands to reach out to customers and ask them how their shopping experience with the brand has been. You can do this by analyzing feedback at every step of the process.

Here’s how to collect feedback from your customers.

2. First Contact Resolution (FCR) – The higher the better

This is the percentage of interactions that were resolved initially and did not require follow-up. This metric measures an organization’s ability to effectively address and resolve queries across multiple support channels.

If your FCR is high, say 90%, that means 90% of your customer support tickets were resolved the first time a customer brought it up to you. Ankit Goenka, Head of Customer Experience, Bajaj Allianz General Insurance, testifies to this “How many transactions a self-service asset can actually completely terminate is the percentage you need to monitor”.

Keep this metric high with call automation that ensures most of your tickets are resolved before the first call ends.

3. Measuring effectiveness with NPS and volume

With customer support it is important to keep track of how many tickets you receive. This can be tracked daily, weekly or monthly to keep track of how many support tickets you receive, when the peak time and day are for incoming tickets and if it is higher than average.

The NPS is another metric to consider when measuring your customer loyalty, comments Sreejit Nairo, Main Product for CX, Licious. Hear how Sreejit added more value to building Stellar Customer Experiences at scale.

Net Promoter Score (NPS) uses a single-fill form that aims to measure the number of satisfied customers who are more likely to recommend your product to others.

He continues, “For us it’s [customer support] an internal core function that not only drives customer satisfaction, but also a little later in the value chain is of course NPS, which automatically translates into better repeatability and lower acquisition costs.”

On the other hand, Dipu KV, President – ​​Head Operations & Customer Service at Bajaj Allianz General Insurance identifies two types of NPS: Transactional NPS, which is based on feedback taken immediately after a user completes a transaction. The second is ‘Relation NPS’, a collective survey conducted by an independent external market research firm. Learn more about this and more.

4. The difference between satisfaction and fun with ART and FRT

When trying to maximize the effectiveness of their customer support, brands look primarily at their CSAT scores. However, the speed of connection and speed of resolution are two important metrics that ultimately contribute to effectiveness.

Fasih Abbas, who leads Customer Success at Cashfree, said it’s important for brands to realize that satisfaction comes from speed. It is important to connect with the customer as soon as they contact them and also deliver the solution quickly.

This, as we mentioned above, you can track using Average Resolution Time (ART) and First Response Time (FRT). You can use FRT to track the performance of your AI chatbots and your agents.

Pro Tip: How Empathy Can Pave the Way for More Meaningful Customer Support Interactions

Empathy and emotional intelligence can help add a dimension of personalization and connection to customer support. Responses that lack emotional depth can make the customer feel that their concerns are not understood well enough.

Athira SM and Sameer Nagpal, who lead the customer support teams at Milaap and WazirX respectively, shared the view that emotional depth is a key factor in improving CX. Listen to Athira talk about why emotional intelligence and empathy lead the way for customer support

Here’s what Justin Joseph, Head of Marketing at Landmark Group, had to say about the importance of empathy:

Conversational AI – Stay on top of your customer support KPIs with efficiency and real-time monitoring

Achievements are elusive. But with the right metrics delivered at the right time, you quantify your customer support efforts.

How quickly do you resolve questions? Or how satisfied are your customers? To answer these questions to your advantage, you need to deploy solutions that complement your support function.

Conversational AI can respond logically and solve questions in real time. And with an analytic dashboard with real-time monitoring, you can weigh your success in visually immersive charts.

Want to see it in live action on Verloop.io? Let’s talk!

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