Rigorous scrutiny, traversing for redundancies and unearthing inefficiencies were the stereotyped definitions of call center benchmarking until the contemporary modus operandi took center-stage. The modern-day benchmarking services are way more relevant and keen into finding faults. Reliance on technology, surveys, and manual scrutiny is ushering corporations into an era where it is imaginable to speed past the contemporaries.
What is Call Center Benchmarking?
In the simplest words, Call Center Benchmarking can be defined as the process of comparing call center processes and metrics internally and with the competitors. Benchmarking processes allow corporations to delve deeper into metrics that can alter the performance of agents. By comparing operations, enterprises can reach a consensus about future objectives and achieve incomparable results in conspicuous future.
Studying Call Center Benchmarking Statistics intricately and endeavoring to achieve global standards can help corporations move towards success. Key customer experience metrics are generally covered in benchmarking, which improves the customer services imparted leading to more repurchases and referrals.
Why Companies Need Benchmarking Services?
Call Center Managers spend valuable hours aligning internal reports, customer complaints, and real-time analytics to discover loopholes and lacking areas. Once the faults are discovered, managers rely on technology and modern-day paradigms to improve the processes. Managers are putting in the requisite effort but they are unable to make the ends meet. Call Center Managers are failing big time to pull up the graphs and create an explanatory illustration using charts.
Well! Benchmarking tells us why managers are failing to improve the output and the simple answer is “You may be good but your competitor is Better”. Your falling performance has got nothing to do with your standard modus operandi but a lot to do with your competitor’s methodology. With Benchmarking Services, it becomes conspicuous that customers are leaving you because they are getting better services, somewhere else.
Reasons why enterprises should engage in Benchmarking:
- Discover Areas that require Immediate Attention: Obsolete approach can stall growth and hamper brand reputation. Discover and pivot immediately to keep up with the customer demand. By relying on the latest technologies and processes, the performance gap can be reduced. The such-focussed approach of finding and eliminating faults involve scrutiny of metrics like the first-call resolution and the average sale value of a call. Improving the effectiveness of these metrics will reflect on the performance.
- Cost-Reduction: Benchmark your processes against the industry standards and discover avenues where cost-reduction can be done. Efficient processes and agents will consume lesser resources and help businesses with cost-cutting. Paradigm shifts are aimed to help businesses grow cost-efficient. If a business is using all the latest technology and cost-reduction continues to be a distant dream then they need benchmarking services.
- Improves Employee Output: Agent benchmarking is designed to help businesses discover areas where the employees are lacking. By concentrating on these metrics, employers can plan course-correction activities and help their employees become more efficient. Increasing employee output through benchmarking services can help businesses improve their customer experience, achieve cost-efficiency and also increase the number of referrals because everyone loves quality customer experience.
- Boost Growth: Discover successful and unsuccessful implementations from your industry and evaluate them for better implementation. Make informed choices and boost growth. Benchmarking allows enterprises to get started with approaches that have worked for others and are bound to bring in results. With benchmarking, it gets easier for corporations to nit-pick approach and paradigms that work and takes them towards success.
What are the Steps to Call Center Benchmarking?
Step 1: Process Identification: Understand the end goals of corporations and identify processes accordingly for scrutiny.
Step 2: Competitive Benchmarking or Process Benchmarking: Identify whether the enterprise wants to benchmark its processes against its competitors or against the industry standards.
Step 3: Collect Data for Benchmarking: Acquire all the requisite information from varied departments. The data collected needs to represent the performance of varied verticals.
Step 4: Analyze: Analyze and convert the collected data into a comparable format.
Step 5: Benchmark: Compare the collected data with industry standards or competitors performance.
Step 6: Communicate The Results: Let the shareholders understand how well they are doing in comparison to their competitors or industry standards.
Step 7: Define Objectives & Prepare Plans: Keeping all the performance gaps in mind, define objectives and then prepare a plan accordingly.
Step 8: Monitor Implementation: Oversee the process improvement to ensure quality results are achieved.
Step 9: Analyze Results: Analyze the report after process improvement inside out to discover any metric that might have slipped.
Step 10: Reiterate: Repeat the whole cycle if requested by the enterprise.
Popular Call Center Benchmarks
Agent Level Benchmarking
Since agents are the flag-bearers of customer experience, it is indispensable to benchmark them. Happy employees are important for rendering quality customer experience. Metrics that are often used to do agent level benchmarking are:
Agent job satisfaction: A mathematical classification of employees who are either satisfied or very satisfied with their jobs.
Agent Occupancy: A metric that illustrates the time utilized by an agent in serving customers.
Annual Agent Turnover: Best defined as the percentage of agents who left the enterprise within a year.
Voice Quality & Productivity Benchmark
First Call Resolution, Call Quality, and Voice Customer Satisfaction is some of the most benchmarked metrics. Be it, inbound or outbound voice quality & productivity benchmarking is of utmost importance. By positively impacting voice quality & productivity, enterprises can aim to improve their customer satisfaction score.
First Call Resolution: Perhaps the most important call center metric, First Call Resolution is the measure of queries resolved in the very first call. All queries resolved in the very first call will require no further follow-ups.
Call Quality: An intricate study of how well the agent was able to assist a customer over the call. Call Quality looks into nuances like “how articulate was the agent?”, and “how satisfied was the customer?”
Voice Customer Satisfaction: A measurement of how satisfied was the customer with assistance from the agent. This metric also includes a study of the tone of agents in assisting customers.
As mentioned earlier, benchmarking can help enterprises cut-cost; cost benchmarks are designed to discover important metrics like average cost per voice, the average cost per chat session, the average cost per web ticket and the average cost per agent-assisted contact. With benchmarking, companies can discover areas for improvement and achieve cost-efficiency.
Average Cost Per Voice: A number that represents the cost of assisting one customer over the phone in the best possible way.
Average Cost Per Chat: Measurement of the cost involved in assisting one customer over chat.
Average Cost Per Web Ticket: Measuring such intricate metrics allow enterprises to discover avenues of cost-reduction. Average Cost Per Web Ticket is the study of the cost involved in generating one web ticket for the customer.
How Can We Help Companies with Benchmarking Services?
We at MattsenKumar are a team of industry leaders, who all are well-versed with the contact center benchmarking metrics. By offering our expert services, we are letting businesses improve processes, achieve better CSAT and achieve cost-efficiency.
Our Benchmarking Services Include:
Contact Center Benchmarking: Intended to help enterprises benchmark their contact centers against their competitors. Through, contact center benchmarking service, we let companies enjoy services like process improvement, cost reduction, increased agent efficiency and improved output.
Competitive Benchmarking: We help businesses improve their output with our benchmarking services. By comparing processes against the competition and big players in the market, we assist enterprises to understand the demands of the customer.