Measuring Performance with Personalized KPIs
We help you analyze minor details that can bring major impacts in your live chat support via our personalized KPIs.
Various studies have proven that including a live chat model into your website’s structure can boost returning customer ratio and skyrocket your profits to as much as 79%. And not only sales, but you also get to have a better CSAT that cultivates loyal consumers into your buyers who eventually endorse your business and bring you more revenue. All that’s because of including live chat support which we help you maintain with proven KPIs that keep your chat support team focused on their routine goals and achieve their monthly targets.
Key performance indicators or simply the KPI is a very helpful metric to understand the growth curve that we utilize to measure our live chat success ratio. We work with you to set KPIs on the macro and micro level for ensuring that your live chat support is meeting various standards that prove to be an essential factor in your business growth. For maintaining metrics like average wait time (AWT), FCR, and conversions, we have devised various KPIs for our agents, supervisors and departments that offer you more powerful insights into how well (or poorly) they’re working on a day-to-day basis. These KPIs are
Average Wait Time
Average Wait Time is one crucial benchmark when assessing live chat support’s overall performance and understanding the workforce requirements depending upon the website’s visitor volume. No one likes to wait in long queues whether in-store or trying to reach a live chat agent over your business website. So, we work with our team to keep the AWT as low as we can and we’ve been successful in this quest by maintaining a 20 seconds AWT rate.
We employ different software and incorporate technology with our agent’s productivity level for offering your website visitors the lowest wait time. What this does is that your visitors never leave without finding a suitable solution for the problems for which they clicked the chat button in the first place. We divide total visitors in queues with the available agents on the floors to distribute the volume evenly and maintain our live chat standard responding time. The formula for calculating average wait time or AWT is:
N: Position in the Queue
X: Maximum Concurrent Number
([N-1/X] + 1): Rounds the number to zero decimal places
Average Chat Wrap-up Time
Along with AWT, we constantly monitor the average chat wrap-up time by each chat support agent. The need to conduct this audit individually for each agent is to assess if the chats were closed at the right duration and served the solutions properly. What happens if the agent is untrained, the chat duration gets extended than the standard average chat wrap-up time (which is 15 minutes). And if the agent concludes the chat too soon, this could be due to an unsatisfactory solution or some mishandling. So, we maintain the standard average chat wrap-up time by keeping it between 10-15 minutes for serving each visitor with equal energy and proper attention.
Post-chat Wrap-up Time
One of our KPIs deal with chat agents’ soft skills and the ability to do record keeping. After a chat is concluded, the agents are required to update their status, enter lead details in CRM, and update the visitor chat notes to supervisors. The post-chat wrap-up time helps us in identifying the agent’s soft skills and the pace to complete record-keeping work until he’s available for the next chat. If the agent is taking too long to complete record-keeping duties, they need to sit in the training session, again. And if the system is taking too long to process their request, the software needs to be updated for keeping the live chat process speed up to the set standards.
Per Day Chats Count
Understanding visitor volume on the website is an important metric that we include in our KPIs for understanding the busiest hours for our live chat agents. By utilizing different software, we evaluate the highest and lowest website traffic volume by the hour and allocate our workforce as needed. We conduct this audit internally for managing our workforce more efficiently and have a positive impact on other parts of the business that may not be directly related to it but somehow get affected due to poor resource management & planning. We set agent timings, assess their productivity, and various other factors to maintain the proportion between the agent’s strength on the floor and possible incoming chat queries.
Customer Satisfaction by Agents
Customer feedback is one powerful tool to understand how satisfied or dissatisfied they’re with our live chat support quality. And we utilize this metric as part of our KPIs by sending automated surveys upon ending the chat. We then rate each agent based on visitors’ feedback regarding the chat experience This surveying practice proves to be very helpful for concluding agent performance and evaluating possible shortcomings in their training and product knowledge. We pick the best agent based on the gathered data and set our customer satisfaction benchmark to further improve our live chat quality.
First Contact Resolution Rate
We believe in offering solutions and guiding visitors so they become a volunteer to promote the business and that’s why we prioritize a high FCR ratio in our live chat support. Being an important metric in our KPIs, and FCR calculations help us stay updated on how good the team is doing and what’s the hurdle between them and an excellent customer experience.
We do it by calculating the total number of chats and dividing it by the ones having resolutions in their first contact with the chat support. Because we know the majority of website visitors don’t want to contact customer support multiple times to report the same issue. And around 77% of website visitors feel privileged when their voice is heard and issues are resolved as first priority in their first interaction with a live chat expert.
Conversion Rate
For measuring success, we include the conversion rate into our KPIs that offer you the insights needed to decide the future course of action. We collect leads data and segregate them in different groups to evaluate live chat’s role in the company’s overall revenue generation. Also, this data is very useful to decide if the live chat team has ample product knowledge and training to handle visitors having variable queries. We share lead conversions into different reports for various departments that can utilize this information and take better decisions based on current lead stats.
Canned Responses
In scenarios where a slight response can impact your business reputation, we save you with predefined messages to the most frequently asked questions (or simply canned responses). We study your business, the industry, and the kind of customers it has and craft a set of useful canned responses that not only reduces the response time in return of a query but also gives a satisfactory solution to the visitor. Over time, we make slight changes in our canned responses either by the live chat agent’s feedback or after concluding our A/B testing campaigns with the ones that are more direct to the solution.
Missed Opportunities
Defeats teach us invaluable lessons and we find these lessons in the shape of missed chats that could’ve been an opportunity for your business. We run three 8-hour long shifts so our agents remain fresh throughout their working hours and your visitors would always get attended. But still, we sometimes fail to take a few chats which we take as a learning opportunity to further personalize our live chat structure. One of our benchmarks includes the careful analysis of chats that are missed due to various reasons and take measures to avoid such instances in the future. These reasons could be the maximum capacity of human power, live chat technology limitation, or anything unexpected that we previously failed to assess.
We constantly analyze these KPIs so there is no loophole in our live chat support structure and this helps us in increasing CSAT, lead conversions, and above all the old customers who prefer excellent customer support whenever required.