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A CRM Key Performance Indicator (KPI) is a standard measurement used to evaluate the process of delivering satisfaction to all of the customer needs from your organization. KPIs can be set up across key activities that are critical to the satisfaction of the customer. When performance falls below a required level, management can begin the process of analyzing the cause and taking corrective action. Since the customer decides who to do business with, these KPIs become imperative to retaining the customer.

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    Customer Satisfaction – The Most Important KPIFlying Blind Is Not the AnswerHow to Define a KPIVoice of the CustomerSome Examples of CRM KPIsCommon KPIsExpanded KPIsWhat metrics are important to the VP of support in relation to customer engagement?What metrics can be used to measure customer engagement?What are the 4 metrics of customer service?What is the importance of engagement metrics?

Customer Satisfaction – The Most Important KPI

Customer satisfaction is the ultimate measurement of the success of your business. Without the customer there are no revenues and no reason for your business. Your purpose is to provide a product or service that the customer values beyond that of your competitors.

Flying Blind Is Not the Answer

A business that does not measure its success in each aspect of its customer deliverables is just asking to fail. You may have a vision of excellent customer service, but one rude customer support agent, or a botched product installation can mean the end of a lifetime relationship. And if you don’t even know where the customer disappointment occurs, the problems will never be solved.

How to Define a KPI

    Define what information will be needed

    Define who will gather it

    Define the process to obtain it

    Define where it will come from

    Establish the frequency that it is needed

    Define who will receive it

Voice of the Customer

Another important aspect of customer satisfaction lies in capturing the qualitative success of the activity. In other words, your team may be performing to a high quantitative level, but still may be failing in the eyes of the customer. As an example, your customer service may be responding to each call in 3 minutes or less, but failing miserably in the customers eyes because they are not solving the exact customer perceived problem.

A good KPI program needs to include the voice of the customer in order to discern whether the program is actually working and if the KPI metrics you have in place really correspond to customer satisfaction. Sometimes, management’s perception of good customer service can vary widely from that of the actual customer. Building feedback loops into the process can be critical to real success of the programs. These feedback loops can take the form of on call questions, immediate post call surveys, and other follow-up techniques.

Some Examples of CRM KPIs

One of the most important aspects of KPIs is creating measurements that are critical to your own business. Each business is uniquely different, and the measurements that lead to customer satisfaction are also unique. KPIs need to be relevant to performance necessary for each touch point that the customer makes. The number of KPIs also needs to be adequate enough to achieve the performance, and yet minimal enough to avoid confusion and administrative burden.

Here are a few examples that some businesses have used:

Common KPIs

    Monthly number of unconverted leads

    Number of lost opportunities

    E-Mail response rate

    E-Mail click-through rate

    Funnel drop off rates

    Sales conversions to leads

    Average collection period

    On-time delivery

    Installation problems per unit sales

    Number of complaints per month

    Cost per call

    Time to first call response

    Average time to problem resolution

    Time to complete problem resolution

    Call length

    Volume of calls handled

    Number of escalations

    Customer ratings of service

    Number of customer complaints

Expanded KPIs

    Average time to last follow-up (sales)

    Average customer life time value

    Customer attrition rate

    Average customer retention period

    Post sales per unit sold

    Survey ratings

    Upsell revenues

    Average profit per customer

Summary

CRM helps keeps track of all your touchpoints with the customer, and KPIs are measurement benchmarks you can use to assure your service delivery is high quality and consistent. The process begins with a CRM tool that covers all aspects of your business, and not just sales and marketing. There is a wide variety of types of CRM products, but only a few cover the whole business, and one low price. Beware of per user pricing that escalates as each business area is added. Some products can cost upward of $250 per user, when everything is in place. If your goal is to provide consistent, repetitive service to your customer needs, then CRM with relevant KPIs can be the framework you need to get there.

Want to find out how Aptean CRM can help your business? Contact us today to chat with one of our experts or schedule a demo.

What metrics are important to the VP of support in relation to customer engagement?

For most companies, there are three aspects of customer support where metrics and KPIs are most helpful: Productivity: Understanding the amount of work being done. Performance: Understanding how long it takes to resolve issues. Quality: Understanding the impact you are having on customers.

What metrics can be used to measure customer engagement?

Top 10 Customer Engagement Metrics.. Net Promoter Score (NPS). Customer Satisfaction (CSAT). Customer Lifetime Value (CLV). Customer Stickiness Factor.. Customer Engagement Score.. Session Time.. Social Media Stats..

What are the 4 metrics of customer service?

The 4 Key Metrics for Customer Service. The Customer Feedback metric.. The Service Efficiency Metric.. Quality, Consistency and Compliance.. Employee Engagement.. All together in real-time..

What is the importance of engagement metrics?

Content engagement metrics are important because they show how your content strategy aligns with user interest. Furthermore, customer engagement is related with overall profitability, as engaged users are more likely to buy, become repeat customers, and share the product/service with other people. Tải thêm tài liệu liên quan đến nội dung bài viết What metrics are important to the vp of support in relation to customer engagement mcq

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