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Three reasons to care about First-Contact Resolution

Three reasons to care about First-Contact Resolution

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FCR: The What and Why

First-Contact Resolution (FCR) rate measures your company's ability to resolve a customer’s issue during the first interaction. Here are three reasons to care about this important metric:

  • Customers love it when the first person they talk to can really help them. Not being volleyed back and forth from department to department, not being placed on hold, and not being told someone will get back to them are major wins for customers.
  • Happy contact center employees! Contact center employees love saving time and money by resolving customer concerns the first time. It makes for a great day at work; plus, they gain a sense of pride knowing that they were the hero that customer needed.
  • FCR rates can evaluate the health of your contact center. Paying close attention to this metric can help identify areas of strength and areas that need improvement.
What FCR Means to You

The Contact Center Business Practices study (April 2018) released by SQM Research Consulting builds a strong case for why your FCR rates should be important:

  • Only 5 percent of companies operate at world class FCR rates of 80 percent or higher. If your contact center can achieve world-class FCR rates, you could be operating at an advantage above your competition.
  • For every 1 percent improvement in FCR, operating costs drop 1 percent. Not only does resolving a customer’s issue on the first contact save you time, it can also save your company money.
  • Strong FCR increases the likelihood of successful cross-selling by 20 percent. Happy customers are willing to buy more from companies whom they perceive in a positive light.

Monitoring and improving your contact center’s FCR can lead to happy customers…which leads to happy contact center employees…which leads to a high performing contact center that minimizes operational costs while increasing sales. It’s all connected!

Improve Your FCR Rates

LOMA created a research-based certification program to help your contact center enhance its customer service. Our Certificate, Customer Experience Essentials (CCXE) is designed to help learners empathize with the customer. By understanding the customers’ perspective, you can give them the help they need and the experience they’ve come to expect on the first contact.

To earn the CCXE, learners will complete these three courses:

  • LOMA 281Meeting Customer Needs with Insurance and Annuities or LOMA 280
  • LOMA 291Improving the Bottom Line: Insurance Company Operations or LOMA 290
  • CX 50Impact CX: the Quest

Now that you know about FCR, why it matters, and the training available to improve your FCR rates, you’re ready to provide your customers with the best possible experience.

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Posted by Kathy Ryan at 10/29/2019 03:43:27 PM