Well here are few “knows” you should know!
Reduce operating cost : for every 1% improvement in First Contact Resolution (FCR), a call center can reduce its operating costs by 1%. If a call center is maintaining at the FCR industry average of 70% (what we know), then, potentially, 30% of customers will have to call back to have their issue resolved. (We know) It takes an average of 1.5 calls to resolve a customer’s query or problem, and it is nearly double that at 2.5 calls when FCR is not achieved. By working to achieve this standard you could see as much as a 20% increase in capacity or reduction of resource.
Customer Satisfaction rating – (We know) for every 1% improvement in FCR, there is a 1% improvement in Customer satisfaction. Call backs can reduce customer satisfaction ratings by as much as 15%. Thus, if your clients have to call you three times to get their query resolved then your customer satisfaction rating will be around 30% lower, than a customer who had their call resolved on the first call.
Employee Satisfaction – (we know) for every 1% improvement in FCR there could be as much as a 5% improvement in employee satisfaction. Happy employees are more productive, friendly and caring. In addition they take less time off work and tend remain in your company for longer.
Increased sales opportunities – Always resolve a client’s query first, before making any attempt to cross sell. This mistake could cost you as much 20% in successful cross sell revenue. Studies indicate that customer’s needs must first be resolved, before an agent can move on to any type of sales activity. Don’t be pushy and service your clients’ needs first, earn their trust and respect and then only cross sell if it’s appropriate.
The cost of bad service – You run the risk of losing as much as 19% of your customer base from a bad customer service experience. Of those customers who experienced bad service 20% of them moved their business elsewhere compared to only 2% of satisfied customers.
Each of these factors go hand in hand and can impact your operation significantly. Isn’t it time you knew, what you don’t know?
Denise Gavin: Owner and Customer care expert for VASoft. Denise believes, it’s the little things that count and for us to improve the Customer Service experience we have to treat people like they matter, no matter how small they are on the bottom line.