KPI (Key Performance Indicator)
Definition: Key Performance Indicators (KPIs) are measurable values that demonstrate how effectively a company is achieving its business objectives.
In the context of customer service or contact centers, KPIs track various metrics, such as call resolution times, customer satisfaction scores, or agent productivity, to assess the performance of the service team and identify areas for improvement.
Types of KPIs in Customer Service:
- First Call Resolution (FCR): Measures the percentage of customer issues resolved on the first call without the need for a follow-up.
- Customer Satisfaction (CSAT): A direct measure of customer happiness based on post-interaction surveys.
- Average Handling Time (AHT): Tracks the average time an agent spends handling a call, including talk time and any necessary follow-up.
- Service Level: Measures the percentage of calls answered within a pre-set time threshold.
- Net Promoter Score (NPS): Gauges customer loyalty by asking how likely customers are to recommend the company to others.
Benefits of Tracking KPIs:
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Performance Monitoring: KPIs provide a clear and measurable way to monitor employee and team performance in real-time.
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Informed Decision-Making: Businesses can make data-driven decisions based on KPI trends to improve processes and strategies.
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Increased Efficiency: KPIs highlight inefficiencies or bottlenecks in the workflow, enabling managers to take corrective actions.
Common Applications of KPIs:
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Contact Centers: Measure agent productivity, call wait times, and customer satisfaction to ensure service quality.
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Sales Teams: KPIs such as conversion rates, deal size, and sales growth help monitor sales performance and forecast revenue.
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Marketing Campaigns: Track metrics like customer acquisition cost (CAC) and return on investment (ROI) to evaluate the success of marketing efforts.
Other Terms:
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