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November 11, 2020

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Top 5 Contact Center Metrics You Should Be Tracking

Blog  |  Product

Key Takeaways: 

  • The success of digital communications platforms and other tech companies during the pandemic demonstrates the value of digital transformation.
  • With more services digitizing, customer engagement practices need to keep up.
  • Contact center platforms enable organizations to bolster customer engagement across email, web chat, voice, SMS, and more.
  • Understanding AAR, SL, FCR, ASA, and customer satisfaction is essential to the success of any contact center or customer engagement strategy.

To learn more about Pareteum’s Contact Center offering, set up a meeting! 

 

If there’s one lesson to learn from the age of coronavirus it’s that businesses need more robust solutions and offerings — systems that stand not to collapse, but to thrive, as a result of economic shock.

Take Apple for instance. While the travel and hospitality sectors were left reeling as a result of the pandemic, the tech giant managed to create a staggering 300,000 new jobs in the United States alone. Digital communications platforms also thrived, with Microsoft Teams and Zoom soaring to the top of app store charts as businesses all over the world implemented remote work policies.

Now, granted, some industries are naturally more adept at withstanding stressors than others. Nevertheless, it’s worth noting the remarkable vigor of the tech industry, and the digital communications sector in particular. That they flourished amidst such uncertainty demonstrates how much businesses and global markets stand to gain from the digital transformation.

 

The Impact of Coronavirus on Customer Engagement

Even before the arrival of Covid-19, technologies like smartphones, SMS, and over-the-top (OTT) messaging solutions enabled businesses to revamp their communications strategies, facilitating speedier internal communications and more personalized customer engagement. As we noted in a recent blog post, these technologies are essential to the “remote work revolution,” the effort to decentralize the modern workplace.

But whether or not such trends pre-exist the pandemic, coronavirus has effectively been an in-kind contribution to the cause of digital transformation. And, with billions more digital interactions occurring every single day — from online shopping to video streaming and conferencing — this has been nowhere more apparent than in the ever-evolving customer engagement landscape.

Indeed, customer engagement in the digital space is no longer optional. It is absolutely vital. Any company that neglects to implement a robust set of customer engagement solutions, including a contact center, risks losing ground to competitors. Not for any fault in their core offerings, mind you, but merely because the other guys are more convenient to communicate with.

 

So, How Can Contact Centers Boost Customer Engagement?

While there are many digital tools that businesses can turn to in order to bolster customer engagement, contact center platforms are among the most popular. Contact centers are integrated, generally automated, communications systems that coordinate engagement between organizations and their constituents across a variety of electronic channels, including phone, email, web chat, SMS, and more.

Not long ago, organizations had entire departments dedicated to managing their contact centers. Generally comprised of customer service representatives, salespeople, and other telephone agents, they were tasked with managing all incoming and outgoing calls.

However, gains in communications technologies have enabled the near total automation of contact centers, while amplifying the scope and scale of their utility. For instance, the digitization of contact centers means that they can now be used to track metrics that help businesses reduce costs, improve customer retention, convert more leads, and assure that their services are meeting expectations.

To learn more about the Pareteum Contact Center, read the profile. 

 

The Top 5 Contact Center Metrics You Should Be Tracking

To illustrate the value of a good contact center, we’ve picked five of the most useful customer engagement insights you should be tracking:

1. Average Abandonment Rate (AAR)

AAR calculates the percentage of phone calls made to a contact center that result in customers hanging up before they speak to an agent. Typically, calls are abandoned when customers are kept on hold for too long and, consequently, feel unappreciated.
Suffice it to say, companies with high AARs struggle with customer retention. Fortunately, by using contact centers, businesses can keep tabs on customer engagements and take action before things get out of hand.

2. Service Level (SL)

In contact center lingo, SL can be understood as the percentage of incoming customer calls and inquiries answered within a predefined period. It can be measured over any time period (30 minutes, 1 hour, 1 day, 1 week, etc.) and applied to any agent, team, department, branch, or company.

3. First Call Resolution (FCR)

FCR measures whether customer issues were resolved the first time they reached out or if they had to call back again. While FCR is certainly related to customer satisfaction, it also measures contact center efficiency and value. Indeed, contact centers try to avoid multiple contacts, because higher contact volume means higher costs.

4. Average Speed of Answer (ASA)

This is one of the best metrics for assessing contact center productivity. The faster you answer your customers, the better their customer experience will be.

5. Customer Satisfaction

For any contact center — and really any engagement strategy — customer satisfaction is the ultimate metric. AAR, SSL, FCR, and ASA, all measure aspects of customer engagement, but they do not directly measure customer satisfaction. Nevertheless, a comprehensive understanding of such metrics can help businesses understand the performance of their contact centers, enabling them to track and improve the factors that impact satisfaction.

READ MOREFive Ways Interactive Voice Response (IVR) Can Improve Your Business.

 

Improve customer engagement with Pareteum Contact Center

Developed to help organizations achieve effective and consistent customer engagement, the Pareteum Contact Center combines solutions for online conversion, inbound and outbound mail, telephony, web chat, and web self-service.
It’s also simple to configure. Deployed as a single web-based application, the Pareteum Contact Center has an intuitive, graphical user interface.

By capturing valuable customer insights, the Pareteum Contact Center streamlines sales operations, while delivering gains in customer satisfaction, relationships, and loyalty.

For more information on the Pareteum Contact Center, feel free to reach out!