In today’s competitive world of outsourcing offerings and solutions. It is not a big surprise that first call resolution (FCR) is a top priority to increase customer satisfaction and maximize customer lifetime value. The ability to address your customer’s needs on the very first call builds customer confidence in the brand. It unites the frontline to improve overall quality and customer experience leading to incremental CSAT/NPS gains.
1. First Contact Resolution reduces call volumes. The more customer interactions successfully resolved at the first customer contact translates to a reduction in call volume. Initially there is a tradeoff with increased agent training and longer handle times, however the longer term reward is reduced volume and improved CSAT and NPS scores. For example, a 15% improvement in first call resolution equates to an 18% reduction in call volume. FCR improvements directly reduce cost by reducing the demand for the service. – The Executive Guide to Improving First Contact Resolution
2. Increased FCR means increased customer revenues. You must earn the right to do business with your customers. When you resolve an issue on the first call, the customer is open to up sell or cross sell activities. If you can’t fix the problem the first time, they will only be interested in getting their problem solved. Attempting to sell more services or upgrades without solving the problem will drive down CSAT and NPS scores.
3. FCR directly affects your customer satisfaction rates. When your customers call, click or chat, they are giving you the opportunity and permission to showcase the value that you provide to them. Your ability to deliver on FCR translates to an improvement in customer satisfaction and overall net promoter scores while lowering overall customer churn.
4. FCR enhances Customer Loyalty. Resolving customers’ issues and concerns on the first call goes a long way to gaining and retaining customer loyalty. Customers feel valued by the company, building customer loyalty, while reducing customer churn. By creating a satisfied customer you earn the right to expand the number of product or service relationships which lead to enhanced Customer Loyalty.
5. FCR can increase Employee Retention. High attrition is the death of FCR and CSAT. Employees who are equipped with the skills, knowledge and tools are much more likely to be engaged on the job and willing to go the extra mile for customers. For every 1% improvement in first call resolution rate, contact centers will see a 1-5% improvement in employee engagement leading to lower attrition.
First Contact Resolution is one of the most powerful metrics that is measured in customer service and customer support settings. In terms of efficiency and effectiveness, it is found that higher First Contact Resolution rates can not only drive overall customer satisfaction score increases but also creates a meaningful impact on your business as well.
There are 3 keys to managing your business: Employees, Customer and Company – in that order. If you pour into your employees, they will pour into your customers and their satisfaction and delight will lead to the success of your business.