We know that when you’re busy responding to social media customer service questions, queries, and sometimes complaints, reporting isn’t always a top priority. But what if we said that analysing your social media customer service activity could actually help to identify ways to save time, reduce the volume of inbound questions, and improve customer satisfaction? 🤔
That is the secret power of measuring your social media customer service delivery that’s easily forgotten. In today’s blog we’re looking at the metrics that can help you to assess how your social media customer service activity is delivering against your business objectives, as well as metrics to help in strategic decision making. 🙌
Customer Retention and Satisfaction Metrics
Time to first response – This metric isn't measuring whether you fully answered the question or resolved the challenge, you’re showing your customer that you are there, and their query has been seen. As often when we contact organisations on social media, unlike making a call, there’s little way of knowing whether your question has been picked up unless they actually respond. ⏰
Time to resolution – this really means what it says on the tin – it’s the average amount of time it takes you to fully answer/resolve/close-off a question/complaint. Why is this an important metric to track? Your customers are only going to be truly satisfied if they have their problem solved or question answered. Providing a quick response time is important, but if you haven’t provided an answer then it’s irrelevant. ✅
‘Right first time’ requests – this metric is highlighted as particularly important by the Institute of Customer Service. Their 2018 Customer Satisfaction Index identified this as a high priority for consumers and those organisations that ranked in the top 10 for their customer service were seen to have an 88% right first time response rate, in comparison to the average of 79.4%. 👍
With that in mind, monitoring what percentage of interactions you’re able to deliver an answer first time around on is important if you’re looking to differentiate your brand and experience.
Sentiment analysis – by marking each interaction as positive, negative, or neutral you’re able to assess whether your customers are mostly satisfied or dissatisfied, as well as track the changes in this opinion over time.
While it’s normal for most organisations to encounter negativity at some point, being able to turn that negativity into positivity by the way that you proactively handle the situation is super powerful. Again, this insight allows you to make more strategic decisions about what you need to change or do to improve customer experience and the results for your organisation. 😁
Cost-Saving and Efficiencies Metrics
Average cost per query – this is key to establishing if you’re saving money by using social media to deliver customer service as opposed to phone or email. Likewise, in becoming more efficient at responding to queries, you might also be able to bring the cost per response down for social media.
To calculate your current average cost per enquiry, take the overall cost of social customer service delivery including colleague salary and any social customer service tools you’re using and divide by the number of queries you receive on social media. This could be measured in a month/week/day or whichever is most relevant to you to get an accurate picture of cost. 💰
Channel shift - if your organisation can deliver faster and more cost-effective customer support through social media than through traditional channels, then the more activity you can move towards social media and away from phone and email the better. Therefore, metrics that look at what percentage of your inbound customer service activity you were able to transfer to social media, or changes in the number of questions coming through to each channel are extremely valuable. ➡️
Revenue Generation Metrics
Leads generated from conversations on social media – Leads can be generated in conversations in a lot of ways. For instance, a car dealership might receive questions about a certain model of car and whether they have it available to test drive. Booking that customer in for a test drive creates a lead for the dealership to follow up on. Had that question been ignored, the individual could have asked another dealership, potentially losing them money! 😮
Purchases made after interaction with your social media accounts – what we mean here is any buying behaviour after a customer service conversation on social media. An example for a leisure chain could be that a potential customer asked about membership options and you responded offering the information they needed, and a link to sign up to your gym. If they click that link and then go ahead and register themselves with your gym, that is a direct impact on revenue through your social media customer service activity. 🛍
Strategic Overview Metrics
Now that we've looked at some objective specific metrics, let's explore some measures that can help you to take a holistic view of your activity and make strategic decisions.
Response rate - your response rate is the % of all inbound customer queries, questions, and comments that you have provided a response to. You might be thinking that the objective is to reach 100% but that’s not necessarily true. Most organisations will receive a number of comments, posts, or queries that don’t actually need a response. They might be tagging friends into your content, have their question answered by another member of your audience, or just express an opinion.
With that in mind, your response rate target may only ever be 75% depending on how many of these interactions you receive. However, measuring how this rate changes over the months can help you to spot trends and identify resourcing requirements. 🤓
Questions by topic area - by this we mean breaking your inbound customer service requests into groups of similar questions. For instance, a leisure organisation might find questions are most often raised about memberships, payment, opening hours, and facilities. By understanding how many questions you receive about each topic you can make strategic decisions.
One of those decisions may be to devise a campaign that will target knowledge gaps. This could include digital and traditional communications to focus on raising awareness of how customers can pay for their memberships. The options are endless, but the point is that with this understanding you’re able to target resources more effectively to reduce the amount of questions your customer service teams receive. Thereby freeing up more time for them to spend on unique cases that require more time and providing a better service to more customers. 💪
Agent and/or team performance - it's important to know how your response time is achieved. You may find that a proportion of your team/agents are very fast at responding, while another proportion are significantly slower. As an average your response times could look okay and so you might not be able to see that some of your agents could benefit from further training to turn your okay response time to a fantastically fast response!
Similarly, in analysing how each of your team members is performing, you might be able to identify blockages in the process, which questions are taking the longest to answer, and how many people are involved in answering each question. 📊
We’ve discussed the metrics that we’ve found organisations can benefit from in measuring the true value of social media customer service, but we want to hear from you! How are you currently reporting on your social media customer service activity and what metrics work for you? Let us know @CrowdControlHQ! 👂
P.S. Don't forget that CrowdControlHQ can help you to manage and report on your social media customer service activity - find out more here!