Analytics & Marketing Metrics

Closely Watch Customer Retention Metrics to Fly High

Have you ever dreamt of losing a group of customers overnight? Our worst nightmare ever! Customer retention is critical for all organizations working hard from distributed locations to achieve business growth. In this article at Business 2 Community, Alejandra Zilak defines the significance of customer service. The formula to entice consumers to buy or recommend your brand lies in how you treat them. So, apart from seeking feedback, learn new ways to ensure customer satisfaction.

Customer Service KPIs

You should evaluate your customer service initiatives with the help of key performance indicators (KPIs) to measure growth and achieve strategic business goals. The KPIs define whether your team is efficient in achieving customer satisfaction goals.

Watch Closely

Managing a venture is not easy because it requires a frequent flow of capital. To thrive in your sector, wisely use your investment funds to boost ROI. Assess your quarterly, bi-quarterly, or monthly business performance. KPIs play a significant role in calculating progress or failure. So, here are some essential customer service KPIs to monitor:

  • Customer Satisfaction Score (CSAT) is the scale of customer satisfaction evaluated between 1 to 10, where 1 defines the lowest contentment.
  • Net Promoter Score (NPS) shows the likelihood of your consumers recommending your services to their friends or family.
  • First Response Time (FRT) is the duration between which you acknowledged customers’ queries or requests. Prioritize help desk training to ensure your employees know how to conduct basic troubleshooting.
  • Along with the average handle time (AHT) to address customer queries, add the wait or on hold time and the number of attempts consumers have made to file their concerns.
  • Customer Effort Score (CES) is one of the most significant indicators of effective customer service. Some organizations are using chatbots or automation tools to check this point off their list. After addressing customer concerns, send a short, automated survey to consumers for swift feedback.
  • Customer Retention Rate (CRR) is the blueprint of a substantial amount of lost customers. You can reach out to them to revive contacts by fixing the issues responsible for creating the communication gap.
  • Service + Quality (SERVQUAL) aims to seize the prejudiced aspects by seeking feedback from consumers over their recent experience and expectations from your brand.
  • Employee satisfaction plays a significant role in delivering outstanding services to consumers. By offering your staff adequate resources and advanced technologies, you can increase their productivity, resulting in higher customer satisfaction.

The more influential your customer service team becomes, the better business growth and revenue you acquire. So, evaluate the customer satisfaction KPIs to improve your service deliverables. Click on the following link to read the original article:

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