It is no secret that in the modern business world, client’s happiness is one of the most important and defining features of successful business. As was said by a business author Michael LeBoeuf “A satisfied customer is the best business strategy”. And we would say that only the best strategies are worth investing into. Of course, that for us means that we must invest into customer satisfaction and into boosting it as high as we can.
And we simply cannot do it without measuring and analyzing various customer satisfaction KPIs — a vital process, if you want to receive as much perspective and information about your customers and their opinions of your brand as you can.
But why is their opinion so important? Isn’t a business plan and keeping things as they are enough? Why do companies need to spend resources on tracking, measuring and analyzing KPIs?
Why Tracking Indicators of Customer Satisfaction Is So Crucial for a Modern Business?
It is said that a whopping 93% of customers are prepared to make a repeat purchase from a vendor if they come across excellent customer service. But we have to understand that to ensure the best customer service, a business needs to track what their customers like and appreciate. This becomes possible if various customer service KPIs are tracked and organized into one company-wide statistics.
Among reasons to measure key performance indicators for customer service team one can find:
- 🔍 Team performance instantly becomes clear
Dissatisfaction of your customers instantly becomes clear. And there might be several reasons for your customer to be dissatisfied. They can, for example, be disappointed with product return and refund policy. Their delivery might have come in late. Or they might be puzzled by your customer service consultants who could have failed to provide the best customer service, as a result, lowering your overall KPIs.
Low customer satisfaction KPI might be one of the indicators of poor customer service team performance. And the sooner the business sees this area for improvement, the better.
- ⏫ Customer satisfaction rate can easily be boosted
For sure, seeing a low customer satisfaction rate and understanding what your customer base needs gives you enough time and space to fix the situation and start provisioning the best services to improve your business performance.
- 🔄 Customer retention becomes easier
Increasing customer retention rates by 5% has the potential to increase profits by anywhere between 25% and 95%. And how can one increase customer retention? By making sure that most of the customer base turns loyal. And that can only become a possibility when providing the best customer service and ensuring that customer satisfaction KPI stays on the same high level.
What KPIs Are the Most Crucial?
Of course, SupportYourApp, being a provider of outstanding outsourced customer support knows all about customer satisfaction KPIs. We know how to elevate and maintain it as high as possible no matter what ticket or question we come across.
Among other, we distinguish several extremely important KPIs that we keep track of and that now help us maintain the highest level of customer satisfaction.
1. ⏱️ First Response Time
For sure — the first impression is the most important one. And we have to make sure that we make the best first impression possible. For that we have established one of the best First Response Time KPI in the market:
- 5-10 seconds for phone calls;
- 15 seconds-45 seconds for chat inquiries;
- 5-30 minutes for emails.
It is also important to note that while we have set these inner KPIs for ourselves, we always make maintaining customer service KPIs our priority, so whatever requirements our clients have — they are the most important and primary for our team to keep.
2. 🤗 Customer satisfaction score
“How satisfied are you with our service?” This is the question that not all customers are ready to give the answer to, even though in doing so they would improve their customer journey themselves. Businesses that appreciate their customers and want to make sure that their customer base has the grounds to turn loyal absolutely must pay the closest attention to this particular score.
SupportYourApp keeps the satisfaction score of our clients’ customers as high as required by the clients themselves, but the average score is 95% across the company.
3. ⌛ Average resolution time
For a customer to call the customer support team to tell about a good experience is a rare thing. Customers mostly call because they want to complain. In addition, it is said that only 1 in 26 customers will complain and the rest is going to silently churn. This means that if a customer complains, they must be ready to give the service another chance. And as a customer service company, your team has to do everything in their power to maintain them and turn their negative experience into something good. Case in point: short resolution time. The faster the issue is resolved, the better it is for the customer and for you too.
Of course, average resolution time is going to vary on the complexity and requirements of the product but the general rule here is the faster — the better.
NOTE! Do not forget about the quality of the answers too. Fast and correct — these are the two qualities of a good answer.
Want to boost customer satisfaction KPI now?
Customer Satisfaction KPI and Your Business — A Perfect Symbiosis
Indicators of customer satisfaction are many. But tracking it as a whole separate KPI is one of the best business practices that we can witness today. It helps businesses and their owners understand what their users expect of them and what needs to be improved and tweaked in order to provide the best services and to elevate the overall performance.
In your turn, when you improve customer satisfaction KPI, you are setting new industry standards and heights to reach. This means that you take an active part in developing your industry and making customer journey and customer experience better every day. And that is exactly what we at SupportYourApp have been doing for 10 years and keep on doing every day.