The Customer Service Excellence Report
Research Reveals the 9 Best Practices to Achieve Best-in-Class Customer Service Performance
About This Report
This report provides a data-driven and insights-based road map to achieve Best-in-Class customer service performance.
The research found the Best-in-Class Customer Service Leaders (i.e., the top 15 percent) applied 9 specific best practices that put their performance and financial contribution far ahead of their peers.
The report shares insights to achieve each of these best practices.
Below are some of the research findings published in the report.
- The Best-in-Class Contact Centers achieved significantly higher agent satisfaction which correlated with much lower agent churn and absenteeism. The Best-in-Class reported 23% agent churn compared to the average of 35%. Similarly, the Best-in-Class reported 4.7% agent absenteeism compared to the average of 7.8%.
- Customer Lifetime Value (CLV) is a predictive analytic that forecasts future value. The Best-in-Class were 3X more likely than their lower performing peers to implement programs with the stated goal to increase CLV.
- Best-in-Class Customer Service leaders were 2X more likely to operate as profit centers than their lower performing peers. For these performance leaders, customer service shifts from an expense that eats into company profits to a contributor of profits.
- The customer service leaders with a documented, active and frequently reviewed revenue growth plan were 2.9X more likely to achieve their revenue growth objectives.
- 36% of respondents had a goal to improve the agent experience. While this shows adoption is not yet mainstream, the allocation of adopters was disproportionately skewed among archetypes. The Best-in-Class contact center leaders adopted this objective 2 times more frequently than the medians and laggards.
- The Best-in-Class succeeded in using omni-channel engagement for financial gains. They realized the highest customer retention; an average of 95% compared to 92% for Medians and 87% for Laggards. They achieved the highest scores in revenue growth. And they attained the lowest cost to serve. They were effective in using lower cost channels – while maintaining quality of service and customer satisfaction (CSAT) – to lower customer service operating costs. This drives a direct impact to profitability.
- 91% of the Best-in-Class service leaders reported using an active Voice of the Customer (VoC) program. That figure fell to 56% for Medians and 22% for Laggards. Participants with VoC programs scored markedly higher positive trending in customer satisfaction, customer lifetime value (CLV) and customer retention.
- Customer self-service channels absorb the high volume of low complexity calls and drive down cost per contact and total labor costs. The research found that the Best-in-Class pushed an average of 42% of cases to self-service channels and while cost per contact varied by industry, the average self-service channel cost less than 10% of the average live channel.