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Latest 24 Oct 2019 | Customer Service

How the Service Index is Going to Revolutionize Customer Experience

Which do you prioritize: customer satisfaction or efficiency? 

If you break it down, everything you do in support is centered around one of these two goals: You either want to improve your customers’ experience with your brand or you want to reduce the time, effort, and—ultimately—cost, required to provide that service. The stakes are high to get the balance right: Sitel Group, a CX-focused consulting and analytics firm, reports that half of consumers have stopped patronizing a brand because of a negative support experience.

Here’s what I’ve noticed, both inside my own team at Conversocial and in the brands we work with: The goals of satisfaction and efficiency often compete with one another. If I spent a little bit more time serving my customers, I might provide a bit more of a personalized response because the agent takes an extra two minutes. That’s less efficient, but will improve customer satisfaction. Or if I don’t take the two extra minutes, I improve efficiency but my customers end up feeling dissatisfied. It’s a constant tug of war. 

Companies yo-yo between these two priorities—in one stage, they’ll work on improving customer satisfaction and in another, they’ll try to improve efficiency. And so they go back and forth, never finding the balance.    

Compounding this problem, companies have no way of measuring the performance of support channels against one another internally. There’s no clear comparative metric across channels to tell you, say, whether phone support performs better than live chat. Brands end up spreading themselves too thin over too many channels, damaging both their efficiency and customer happiness. 

But all that is about to change.

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The Dawn of the Service Index

Here at Conversocial, this dilemma has become a matter of obsession—and it’s what inspired us to create the Service Index, a tool unique in the industry which, for the first time, will allow brands to:

  • Harmonize the twin goals of customer satisfaction and efficiency into one single metric. 
  • Compare the performance of support internally across different channels.

We’ve designed the Service Index around the two main priorities that concern all support teams: customer satisfaction and efficiency. Instead of looking at these metrics in isolation, we’ve paired them into a single North Star that CX teams can aim towards. Because, at the end of the day, the goal isn’t to have the world’s best CSAT score or lightning-fast resolution times—it’s to improve business outcomes. 

What makes the Service Index even more revolutionary is that it enables companies to compare the performance of channels internally. For the first time, you can place your email, Twitter DM, and Facebook Messenger support channels all on the Service Index and understand which performs best. You’ll have a clear picture of your support strengths and weaknesses. Armed with this knowledge, you’ll be empowered to make strategic decisions about which channels to invest in, and which to scale down or even drop. 

Equally, the Service Index offers the opportunity to benchmark against other brands. You can look at white-listed data of different channels within your own vertical—or across industries—and see how your support channels measure up. 

"Instead of looking at these metrics in isolation, we’ve paired them into a single North Star that CX teams can aim towards."

How the Service Index is About to Revolutionize CX

Needless to say, the implications for the Service Index are huge. Here are the top three ways we think it’s going to transform how CX teams operate:

1. Allow brands to identify top-performing channels. 

By understanding the performance of their channels against one another, customer support will be able to act strategically, investing in channels that improve the customer experience and shifting volume from underperforming channels.  

2. Help support teams boost customer satisfaction and efficiency in tandem.

The days of competing priorities will soon be over, as CX teams look to a single measurement to understand their performance. By optimizing their support channels, they’ll be able to provide fantastic service at a price point that makes sense for their brand.

3. Provide ongoing feedback that grows and changes with the support industry.  

Like the stock market, the Service Index will change over time in order to reflect the most current data. While a great score today may not be as good in five years’ time, if you continue to measure yourself against the Service Index and improve, it’ll continue to provide valuable feedback. 

We’ll be launching the Service Index soon to help teams like yours begin to leverage this valuable data. If you’re ready to see how your channels measure up, talk to a member of the Conversocial team and we’ll help you get started. 

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