mySQM™ FCR Insights - Personalized Intelligence™ Features Overview
Personalized Intelligence™ has a suite of 6 proprietary features that use VoC data to provide individualized artificial intelligence insights at a agent level to help them with their customer experience management efforts. Each of these features are specifically designed to help agents improve and provide great FCR and CX.
Rewards & Recognition
Agents are rewarded and recognized for delivering great CX performance. Award points based on agent CX performance that is captured in mySQM™ software and can be redeemed using an SQM debit card, gift cards, corporate merchandise, time off, etc. This best practice is the quickest approach to motivate agents to improve and provide great FCR and CX.
CX Essentials Coaching
Agent coaching has never been easier or more effective for improving and providing great FCR and CX performance. Our software uses VoC survey feedback to provide personalized intelligence™ on agent CX performance tracking, and individualized coaching opportunities. Based on agent CX improvement opportunities, identified soft skills and best practices suggestions are automatically provided to agents to improve their FCR and CX.
Benchmarking & Ranking
FCR & CX benchmarking and ranking data is captured and reported in real-time through mySQM™ FCR Insights software. Many agents and call centers improve their FCR performance by up to 10% as soon as they start benchmarking and ranking agent performance. One of the best parts about SQM's FCR & CX Benchmarking and Certification is that it awards and certifies world-class performing agents, supervisors, and call centers.
Knowledge Builder
mySQM™ FCR Insights software Knowledge Builder is a searchable library of CX Essentials soft skills, social styles, and validated best practices for improving FCR and providing great CX. This content can be used from the agent to the call center level. In a single platform, this brings VoC performance data and a great, searchable content library to provide suggestions on how an agent or call center can improve FCR and CX performance.
CX Soft Skills e-Learning
SQM offers virtual, on-demand e-learning for CX soft skills modules delivered through our mySQM™ FCR Insights software. We also offer virtual, instructor-led training that is done through video conferencing applications (e.g. Zoom, Webex, GoToMeeting, etc.). What makes our CX Soft Skills Training so effective is that we offer online Persona Communication Style self-assessment and CX VoC data to ensure FCR improvement learning takes place.
Customer Quality Assurance
CQA is a holistic approach because it uses both the VoC and call compliance information to assess call quality. It is a best practice for improving the impact of call monitoring on the call center’s CX and FCR performance. CQA data is captured and reported thorough mySQM™ FCR Insights software.
mySQM™ FCR Insights — Business Case
Learn about the business case for using mySQM™ FCR Insights software to improve your operating costs and customer experience by focusing on first call resolution, call resolution, and customer satisfaction metrics at the call center and customer representative levels.
For every 1% improvement in FCR, you reduce your operating costs by 1%.
Reduce Operating Costs
For every 1% improvement in FCR, you reduce your operating costs by 1%.
- For a call center performing at the FCR industry average of 70%, potentially 30% of customers will have to call back because their issue was not resolved on the first call.
- For the average call center, it takes 1.4 calls to resolve a customer’s inquiry. For 30% of customers who do not achieve FCR, it takes 2.5 calls to resolve their inquiry.
- Repeat calls represent 23% of the average call center’s operating budget, which is an enormous opportunity to reduce a call center’s operating costs.
- For the average midsize call center, a 1% improvement in their FCR performance equals $286,000 in annual operational savings.
98% of customers will continue to do business with the organization as a result of achieving FCR.
Reduce Customers at Risk of Defection
98% of customers will continue to do business with the organization as a result of achieving FCR.
- If the call was unresolved, 23% of customers express their intent to not continue to use the organization’s products and services as a result of their call center experience.
- The savings from preventing customer defections can be 5X greater than operational savings.
- For many call centers, retaining customers represents the biggest opportunity to add true value to their organization.
- Resolving calls is the key to reducing customers at risk.
- For every 2% improvement in FCR there is a 1% improvement in call resolution, helping the call center retain customers.
For every 1% improvement in FCR there is a 1% improvement in Csat.
Improve Customer Satisfaction
For every 1% improvement in FCR there is a 1% improvement in Csat.
- FCR is the metric with the highest correlation to Csat out of all call center internal or external metrics.
- The absence of FCR is the strongest driver of customer dissatisfaction.
- Csat (top box response) average drops 15% every time a customer has to call back to get their initial call resolved.
- If a customer had to call in three times to get their call resolved, their Csat would be 30% lower than a customer who had their call resolved on the first call.
- On average, 14% of customers describe their call as a complaint call. For every 5% improvement in FCR you reduce your complaint calls by 1%.
For every 1% improvement in FCR there can be a 1% to 5% improvement in Esat.
Improve Employee Satisfaction
For every 1% improvement in FCR there is a 1% to 5% improvement in Esat.
- Call centers with high FCR tend to have high Esat. Conversely, call centers with low FCR tend to have low Esat.
- The level of stress is very high for the CSR who handles the second or third call when a customer’s issue was unresolved on the first call.
- Increasing FCR improves both Esat and Csat. Consistently resolving inquiries on the first call can increase Esat substantially.
- Most call center managers understand that high Esat can provide high Csat/FCR, but high Csat/FCR can drive high Esat too.
When a customer's call is resolved the customer cross-selling acceptance rate increases by up to 20%.
Increase Opportunities to Sell
When a customer's call is resolved the customer cross-selling acceptance rate increases by up to 20%.
- SQM’s research shows that the customer’s needs must be resolved before the CSR has earned the right to move on to any type of sales activity.
- If the CSR cross-sells before the inquiry or problem is resolved, the customer typically becomes irritated.
- The customer can feel that the organization is pushing its needs, rather than serving the customer’s needs.
- Focusing on business needs versus customer needs can cause the fundamental customer relationship to be undermined.
For the average call center, every 1% improvement in FCR increases transactional NPS by 1.4.
Improve Net Promoter Score ®
For the average call center, every 1% improvement in FCR increases transactional NPS by 1.4.
- FCR is a strongest driver for higher transactional NPS
- The average call center FCR is 72% and their NPS is 48
- FCR and NPS have a high correlation of .64
- NPS goes down by 18 points for each additional call made
- NPS is 64 points when customers resolved their call in one call (FCR)
- NPS is 40 points when customers resolved their call in two calls
- NPS is - 10 points when customers call is unresolved on the first call
Request a Demo
Learn more about the mySQM™ FCR Insights platform, find out how SQM can help your call center improve customer and employee experience, and take advantage of the power of Personalized Intelligence™ to improve your FCR.
Reach out today to book your demo.