5 Customer Service KPIs You Should Be Monitoring

If there’s no steady stream of customers, it likely means there’s more money going out for expenses and operational costs than what’s coming in as payment for services or goods. It’s not a good position for any company to be in and could result in the business folding, especially if it can’t turn things around. Blazeo.com (formerly ApexChat) can help improve communications between your business and new and existing customers. Providing excellent customer service is vital for the life of your business. Analyzing key performance indicators (KPIs) can help you determine strengths and weaknesses. Let’s talk about five customer service KPIs that need your attention.

First Response Time

Have you ever contacted a company, and the amount of time it took for someone to get back to you was something they should have been embarrassed about? It in no way makes that business seem worthy of your hard-earned money. 

The first response time is the time between when you first reach out with a question or comment and when you hear back from an agent. Offering live chat is an excellent way to ensure your new and existing customers get a fast first response time. Blazeo (formerly ApexChat) offers a 24/7 live agent chat feature, giving individuals access to speedy assistance without having to wait days (or weeks!) to first hear back.

Handling Time

The handling time is how long the agent spends helping the customer at the time of contact. Most people don’t want to spend an exorbitant amount of time going back and forth with an agent. Everyone has things to do. The lower the interaction time, the better. However, there’s a caveat. 

It’s not just about keeping the interaction short and simple. The customer still needs to feel valued, like they received the help they needed, and that the agent took the time to offer a resolution without taking excessively long.

Blazeo (formerly ApexChat) offers AI Smart Scheduling, which can help reduce interaction time. For example, an AI bot can contact new and existing customers about setting an appointment after they reach out via the live chat on your website. The bot provides potential options for a first-time, follow-up, or rescheduled appointment, at which point the individual can quickly text back and set a time for their earliest convenience.

Resolution Time 

The resolution time is a little different from the handling time. Handling time is the individual conversations, tickets, chats, etc., while resolution time is the culmination of those individual requests. Essentially, it’s how long it takes (in total) to completely resolve an issue from start to finish. 

Let’s say a customer has an issue, and their first chat message didn’t fully resolve the problem. They contact the business again, and their request/ticket gets reopened. That second conversation has its own handling time separate from the first, but the resolution time is now from when they contacted the business the first time and will continue until the issue gets completely resolved and the request/ticket gets closed for good.

Abandonment Rate

If you want to speak to a particular business and the wait time is incredibly long, chances are you’ll hang up and try back at another time. Some customers might not even bother calling back at all, which isn’t good for a business. 

The abandonment rate is the measurement (percentage) of customers who disconnect from the conversation, either during phone calls or live chat sessions, before they speak to a customer service representative. While some customers might have to disconnect for a reason that has nothing to do with the business, such as that they need to answer an incoming call, a high abandonment rate usually means the wait time was too long. The shorter the time that a new or existing customer has to wait, the more likely it is that the person will approve of the assistance they received. 

Most Common Topics for Contact

The reason why new and existing customers are reaching out to your business can be a good indicator of what’s making customers happy and what’s not. 

Let’s say there’s an increase of individuals reaching out to live chat expressing their displeasure about a particular product. Chances are, this increase is a sign that something may be wrong that needs closer attention. Too many problems can lead to unhappy customers, which can result in a decrease in profits and turn away potential new customers if the word gets out. In a world full of online reviews and social media, it’s easy for negative commentary to spread quickly.

On the flip side, if customers are raving about a particular product or service, it’s easy for your company to know you’re on the right track. You can then either choose to keep going forward with the product or service as it is or continue to see how you can make it even better and more appealing to customers. 

Contact Blazeo (formerly ApexChat) About Customer Service Options for Your Business

One thing you don’t want to do is slack on your customer service. Even if it’s been great thus far and you’ve received excellent feedback, that doesn’t mean things can’t quickly change. Your customers and the service they receive always need to be your top priority.

From 24/7 live chat to an AI Smart Scheduler, Blazeo (formerly ApexChat) has many options that can help improve customer service interactions with the individuals who help keep your business in operation. Reach out to us today, and let’s talk about solutions that can help you and your customers while also potentially redirecting some tasks and stress from your already-busy staff.

Ready to learn more? Request a demo today!