CRM - November 2007 - (Page 27)

MASTERING THE METRICS MAZE based on what the business is trying to achieve. Unfortunately, though, many organizations focus too heavily on one side of the equation—efficiency-driven metrics such as average handle time and number of calls handled—rather than creating a more complete view of agent performance by evaluating customerexperience–centric metrics such as firstcontact resolution (FCR). Rob McDougall, president of Upstream Works, a vendor specializing in improving FCR, notes that metrics should reflect the big-picture goals.“One of the biggest areas of potential cost savings is reducing the amount of callbacks, which can exceed 25 percent of all your inbound calls,” he says. “And in the big picture of customer retention, FCR is gaining a lot of support as the best metric to evaluate customer satisfaction.” BNY Mellon Shareholder Services is the arm of The Bank of New York Mellon that provides the shareowners and employees of small, midmarket, and Fortune 500 corporations with core stock transfer services, corporate equity services, corporate actions, and direct investment programs. (The bank is the result of the merger between Mellon Financial Corporation and The Bank of New York in July.) The unit uses FCR and dashboard functionality from on-demand vendor Enkata, which contributed to the company’s 10 percent improvement in first-contact resolution. “We’re actually able to track and report value of every single contact,” says Frank Madonna, a senior vice president and chief operating officer of BNY Mellon Shareholder Services. “There are now clients who are speaking to us about not only just decreasing contacts and eliminating contacts, which [are] absolutely very important, but also figuring out a way to increase the value of every contact.” Here’s another example of CCPM’s importance to delivering a complete view of a customer service representative’s performance: Consider a CSR with an average handle time that exceeds the center’s desired target. At first glance, it appears the agent is performing at a substandard level. But examining the sales side reveals www.destinationCRM.com Revving Contact Center Performance HERE ARE THE RECOMMENDED STEPS FOR SETTING UP A SUCCESSFUL CONTACT CENTER PERFORMANCE MANAGEMENT PROGRAM, ACCORDING TO DMG CONSULTING: 1. Identify or establish enterprisewide goals. Review the goals of the corporation and all departments supported by the contact center. Identify contact center key performance indicators (KPIs) that measure these goals. 10. Communicate the new performance management program goals and objectives to all contact center staff. 11. Train the staff on the new goals and objectives for which they are now responsible. 12. Conduct a pilot to ensure that the KPIs measure the activities necessary to monitor adherence to internal and external goals, as reflected in the balanced scorecards. 13. Collect and analyze historical data to establish a baseline set of consistent, prior-period performance metrics for contact center and external goals and KPIs. 14. Compare results of baseline and pilot to identify areas requiring improvement. Document these areas and develop action plans to address all areas of weakness as well as to reward outstanding performance and achievements. 15. Correlate KPIs to enterprise and departmental goals to make sure that the metrics are appropriate and effective. 16. Institutionalize the performance management program to ensure ongoing benefits. This includes defining the frequency of reports and responsibilities of all impacted areas, inside and outside the contact center. Set up a closed-loop process for addressing all areas of weakness uncovered by the analysis to ensure that improvements are addressed on a timely basis. 17. Communicate success of the performance management program to contact center staff, external constituencies, and senior management. 18. Expect to change goals, KPIs, metrics, and data sources as business and technology evolves. SOURCE: DMG CONSULTING, JANUARY 2007 2. Identify contact center goals for productivity (service and sales), effectiveness, quality, training, and customer satisfaction. Identify contact center KPIs that measure these goals. 3. Determine which metrics are required to measure each of the KPIs. 4. Determine the best data source for each of the metrics. The best source is generally the originating system or application. (Keep in mind that many metrics are available from multiple sources and different calculations are often used to determine the same KPI.) 5. Validate all calculations and don’t use secondary metric sources unless that is the only option. 6. Test each of the data sources to ensure that its numbers are valid and can integrate with the performance management system. 7. Assign weights to metrics to reflect their relative importance in determining a particular KPI. 8. Create balanced scorecards reflecting the goals of the contact center, external departments, and the corporation. Each scorecard will address productivity, efficiency, quality, training, and customer satisfaction for each of the goals. It will also specify which KPIs are included and their weights. 9. Review balanced scorecards with all relevant constituencies inside and outside the contact center. Make any necessary changes to goals, KPIs, and metrics until buy-in is obtained. CUSTOMER RELATIONSHIP MANAGEMENT | NOVEMBER 2007 27 http://www.destinationCRM.com

Table of Contents Feed for the Digital Edition of CRM - November 2007

CRM - November 2007 Contents Front Office Reality Check Customer Centricity Have You Caught It? The Mother of Enterprise Information Market Focus: Technology: The Simple Truth about Complex Manufacturing Q&A: Gianforte Talks CRM Required Reading Predicting Profitability Checking the Pulse of the Contact Center Cast a Narrow Net Modern Times, Modern Methods Primos Hunting Calls Snares Efficiency Nailing It Down Moving in on Mortgage Delinquencies RDS Delivery Delivers on Service Secret of My Success Re:Tooling The Tipping Point Pint of View

CRM - November 2007

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.