For startups and small businesses, keeping track of data is one of the most vital things. It allows entrepreneurs and managers to gauge the progress of their business and find out what can be done to help improve performance ahead.
There are any number of metrics companies can track to ensure they are headed in the right direction. But if your company mostly relies on calls to attract leads, retain clients, or provide technical and/or customer support, one of the best places to start is your phone system. Fortunately, most Voice over Internet Protocol (VoIP) phone systems offer a built-in call analytics feature so that tracking call metrics and reaping its benefits has never been more convenient.
Here are the top 3 call metrics that you should focus on in order to measure and optimize the performance of your business:
The number of calls you make or receive each day is one of the most important metrics you should track. And with the right call analytics solution, you will be able to identify call patterns and how they fluctuate over a period of time. You will also be able to track the number of calls that go through each of your departments as well as the volume of calls your campaigns are driving, especially if you are using virtual numbers to boost your business.
By tracking the call volume, you will be able to manage your resources effectively. For instance, once you have identified your business’ peak hours, you can choose to assign more staff to the phone lines during these times. When off-peak hours begin, however, you can reduce the number of agents or simply activate call forwarding features to never miss a call. Doing so will help you manage your staff effectively, and may even help reduce employment costs.
How much time does your employee spend on the phone with each prospect or client in order to close a sale, answer an inquiry, or provide support? Calculating the average duration of a call can help you find out which campaign, product, or service is generating the calls you want, as well as give you an insight into the performance of your employees.
Longer calls don’t necessarily equate to quality, legitimate calls, and short calls don’t necessarily mean poor quality or service, either. The generally accepted view is that short calls can be a warning sign that your staff needs more guidance. If you suspect such a problem, you can drill into all of your call recordings to investigate and organize training sessions to ensure you never lose customers on the phone.
Average call waiting time
A busy phone can be a good sign as it means more people are taking interest in your product or service. But a busy line can also cause great distress to your prospects because they may not be entertained in a timely fashion. According to a study by DialogTech, 15% of callers tend to hang up if they do not get to speak to a representative after being put on hold for 40 seconds. As a business, you should find out the average wait time for callers; and if the hold time goes beyond 40 seconds, make sure to take steps to reduce it.
Some strategies for shorter wait times include ensuring you have a sufficient number of teams and personnel at the right hours, publishing an online knowledge base so customers can easily find answers to frequently-asked questions, and provide training to staff to help them resolve calls much quicker.
Final thoughts: call metrics are crucial to the success of your business
These are three critical call metrics to start tracking using the call analytics feature of your business VoIP phone. By examining and analyzing these numbers, you will be in a much better position to streamline your operations, provide better customer service, and take your startup to the next level.