Benchmark performance reporting
We go above and beyond to meet your expectations with our latest forecasting methods.
At ChatPandas, we want to know how well we can serve you and your business. We create our own customer service benchmarks that are relevant to your needs and we also create a strategy that incorporates your original customer service benchmarks. Moreover, we accomplish all of this while consistently gathering information about the latest customer service trends and standards from your sector in order to offer top-notch customer support services round-the-clock, 365 days a year. Our benchmark performance reporting is primarily concerned with the following factors: client benchmarks, our benchmarks and industry benchmarks.
Benchmarks from Clients
We understand that your main concern is the fast achievement of your objectives. These goals can include a higher CSAT score, increase in client retention rate and increase in the efficacy of your customer service. We strive to provide superior customer experience and increase your success ratio. We know that the primary benchmark of companies are related to their ultimate goals attained and results created. This is mainly because these criteria are the most practical method to assess the effectiveness of their efforts. If the results are favorable and these businesses successfully complete their short-term objectives, then there are higher chances of achieving their long-term objectives.
Goals
The first step in reaching goals or objectives is to set them. Objectives are essential if we want to monitor our progress and see immediate growth and success for our company. Goals are therefore the most important standard by which a commercial company evaluates its performance for the reasons stated above. They are frequently broken down into two categories, namely short-term objectives and long-term goals, with the accomplishment of short-term goals serving as an indicator of the likelihood of reaching your long-term goals.
Outcomes
Your short-term goal success rate may serve as a reliable predictor of your ability to reach your long-term objectives. Evaluation of your efforts and their results is required to prove whether your short-term goals have been met. And this is the second most important metric for a company. A short-term objective would be, for instance, “double the amount of sales in the following six months.” After allocating adequate resources to this activity, you may now assess the outcome after six months. That outcome may be used to assess whether or not you have accomplished your stated objective.
Our Benchmarks
Providing superior customer service experience and the prompt accomplishment of your goals through the efficient use of resources are our main priorities. We make benchmarks e.g response times, capacity utilization, and first call resolution rates in order to provide this service.
Response Time (RT)
Response Time measures how quickly a service representative responded to a customer’s question. This benchmark is used to assess both an agent’s and the entire team’s level of competence. We utilize this benchmark to find out who can answer a specific type of customer issue in a short period of time and agents who can handle any form of customer query successfully. Based on response times, we provide positions to our ChatPandas based on their areas of expertise to boost customer satisfaction and meet objectives in a timely manner.
Capacity Utilization
Capacity utilization used to determine whether a call center is operating at maximum efficiency in order to deliver the desired results. Capacity utilization enables us to maximize the output of our support teams in accordance with your objectives or a specific campaign. We can tell how much capacity is being utilized to accomplish your goals by using this benchmark. If it is not being utilized fully, we may use the information acquired to scale resource consumption to best support the achievement of your goals.
First Call Resolution (FCR)
In this highly competitive economy, customers can choose another business with just a click if they are not satisfied with your services. FCR is a benchmark that focuses on the number of customer issues that are fully resolved in the first contact. Because FCR is directly linked to higher customer satisfaction, measuring it helps us ascertain how well we are able to meet your customers’ expectations. FCR helps us to know the kinds of improvements are needed to increase customer happiness.
Industry Benchmarks
Industrial benchmarks reflect Industry-wide standards for the delivery of standardized customer support services to customers as well as for the evaluation of individual efforts. Similar to this, the Industrial Benchmarks standard can vary significantly depending on the industry in which you work. For instance, some industries may prioritize a higher first-time resolution ratio over a shorter handle time, while others may prioritize prompt response times and higher customer satisfaction rate. Standard Response Time, Estimated Time of Resolution, and Average Handle Time are common standards.
Standard Response Time (RT)
Each industry has a Standard Response Time that can be used to calculate your efficiency ratio when it comes to responding to customer inquiries. Because the time it takes to answer a customer query can vary depending on its nature, complexity, and the industry, this Standard Response Time can be used to gauge your efficiency.
Estimated Time of Resolution
This is the amount of time required to fully address a customer issue. A customer’s problem is known to be fixed only if the customer themselves, not the agent, close the ticket. In order to increase efficacy, we measure our resolution time to your operational industry.
Average Handle Time (AHT)
Handle Time describes the length of a single support conversation between a customer and a support representative. The Average Handling Time is also represented by the sum of all conversations in a call center. AHT assists in evaluating the performance of support representatives with a variety of customers, which ultimately leads to the development of more specifically focused training modules to improve CSRs’ capacity to serve a variety of clientele.
Conclusion
You can have an in-depth review of your performance and the success rate of your goals if you use a variety of benchmarks, such as industry-wide benchmarks. We make sure that all of your criteria are diligently met through a carefully designed analytical process and a commitment to keep you up to date latest market trends. Moreover, by using our own benchmarks in conjunction with your criteria and industry-wide standards, we are able to take the proper measures to assist you in achieving your goals much more quickly in addition to regularly measuring our own performance.