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The balance between what is paid for and what is received in customer service

If you are measuring by the of complaints you are or are not receiving, you are in trouble. If you are asking your customers if they are satisfied, you are telling them that their satisfaction matters.

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There are many different ways to ask: The right method depends on your business and your customer base. The challenge with specifying key indicators is that not all businesses will use the same metrics. For example, a retail or fulfillment organization will have decidedly different key performance indicators than a software-as-a-service company.

For the purposes of this discussion, I have highlighted relatively general metrics and incorporated a few varying perspectives for different use cases. For a shipping operation, product delivery and project implementation, on-time performance is the measuring stick.

In a high transaction business, the first interaction with a customer will be a key determinant of whether the customer will return. Use this metric to understand who is at risk at contract renewal time. Monitoring Repeat Business is going to help non-SaaS businesses understand how sticky their product or service is for their customer base.

  • Churn — Cancellations and returns are the equivalent to churn;
  • Time with the Customer — Are your customer-facing employees incentivized to keep calls short or to move too quickly from customer to customer?
  • To illustrate, imagine Company A cleans Company B's carpets and sends a bill for the services;
  • To illustrate, imagine Company A cleans Company B's carpets and sends a bill for the services;
  • The right method depends on your business and your customer base;
  • For the purposes of this discussion, I have highlighted relatively general metrics and incorporated a few varying perspectives for different use cases.

You should know which customers are using or buying different parts of your business. These customers who buy throughout your offerings are perhaps your most important customers to focus on for your retention strategies.

  1. Time with the Customer — Are your customer-facing employees incentivized to keep calls short or to move too quickly from customer to customer? To illustrate, imagine Company A cleans Company B's carpets and sends a bill for the services.
  2. Monitoring Repeat Business is going to help non-SaaS businesses understand how sticky their product or service is for their customer base.
  3. Importance of Accounts Receivable Accounts receivable is an important aspect of a businesses' fundamental analysis. If you are measuring by the of complaints you are or are not receiving, you are in trouble.

What is your Response goal — within X hours? Set one and achieve it. You should know what your competition is doing and beat their goal. Want to really blow away a customer and cement your relationship?

Pick up the phone and give them a personal call.

How to Ensure Strong Customer Service and Customer Satisfaction

Time with the Customer — Are your customer-facing employees incentivized to keep calls short or to move too quickly from customer to customer? If so, you are sending the wrong message and subsequently affecting the quality of the customer interaction. There is a definite happy medium between the overly chatty service provider and the thorough and efficient provider.

Set your benchmarks for call duration and general time with the customer in relation to the ultimate goal of first call resolution, NOT the other way around. In other words, a completely satisfied customer not requiring a follow-up call or visit is much preferred over a quick, unresolved interaction. Churn — Cancellations and returns are the equivalent to churn.

Accounts Receivable - AR

As important as knowing how much, is understanding WHY you are losing customers. This survey information is the real business insight for understanding your lost business. By all means this is not a comprehensive list of key performance indicators. To expand further we would need to focus on a particular business model to provide a more granular perspective.

Start measuring and start making changes. Continue to evolve your key metrics as your business evolves. Keep this process circular for continuous improvement. Post these key performance indicators in your facility or on your intranet and regularly communicate them to your employee base to give everyone in your Company sensitivity to how you are performing for your most important asset: