1、1|5 Metrics That Service Leaders Should Measure in 20235 KPIs Service Leaders Need toMeasure in 2023Youre missing key details when you measure service KPIs in a vacuum.Instead,focus on a holistic view of your service organization.Change the way you think about KPIs.Increase visibility into every cor

2、ner of service.Bridge the skills gap.Improve CS across the entire organization.EBOOK5 Metrics That Service Leaders Should Measure in 2023|2Table of ContentsPart 1:IntroductionPart II:Out With the Old,In With the NewPart III:Conclusion 05030614081110121315What KPI Measurement Does and Doesnt Tell UsC

3、ost Per Visit to Cost Per Successful ResolutionMean Time Between Failures to Mean Time Between EventsNPS&Customer Satisfaction Surveys to Customer Risk ScoreFirst Time Fix Rate to Customer Experience IndexMean Time to Resolution to Mean Time to StabilityWhats Next?3|5 Metrics That Service Leaders Sh

4、ould Measure in 2023Part I:Introduction5 Metrics That Service Leaders Should Measure in 2023|4Why do we need to measure service KPIs differently than we have been in the last few decades?Long story short:service has changed.But,more importantly,a number of challenges,including COVID-19,have accelera

5、ted the speed of change.Whether its the workforce labor shortage,a major skills gap between new recruits and those exiting the workforce,or increasingly complex equipment,many service providers took a hit all of which trickled down into the customer experience.In fact,data from Aquants 2023 Service

6、Intelligence Report revealed that the way organizations provide service today is far from customers expectations.There is another major challenge:service leaders across the globe are finding it more difficult to measure service KPIs in a meaningful way and then align those KPIs to larger organizatio

7、nal initiatives.Even with all the technology advancements,the industry continues to measure service success in almost the same ways that it did 20 years ago.Historically,measuring customer satisfaction using the usual KPIs,such as First Time Fix Rate,Net Promoter Score,and customer satisfaction surv

8、eys,were enough.But as business operates at the speed of light and customers expect proactive experiences,those methods no longer work.Now,companies need tried-and-tested ways to see beyond traditional KPIs to understand the full picture.What if there were more accurate metrics ones that offered a f

9、ar more holistic view of your business performance and customer experience?Lets take a closer look at traditional KPIs,as well as the Service Intelligence Metrics that data-savvy organizations are using to gauge the real scope of their customer experience.5 Metrics That Service Leaders Should Measur

10、e in 2023|45|5 Metrics That Service Leaders Should Measure in 2023The big shifts across the industry,workforce demographics,and customer demands require a skilled-up workforce of high performers.To develop the dream team,organizations need to map out the workforce for a deeper understanding of workf

11、orce experts versus challengers and then plot a plan for success.We also outlined better ways to think about measurement(in an ecosystem versus a vacuum),detailed the KPIs that matter most,and how to most effectively measure them.Now that we know what and how to measure,lets dive deeper into what in

12、dustry KPIs look like today,and how that information can be used to address workforce challenges across the entire workforce.Keep in mind.in addition to measuring your service organization on quantifiable metrics,you can also track the progress of leading indicators such as increased speed of new hi

13、re onboarding,employee knowledge distribution,workforce retention,and service related progress like a reduction of truck rolls.As these factors improve,youll boost customer experiences and employee productivity.What KPI Measurement Does and Doesnt Tell Us5 Metrics That Service Leaders Should Measure

14、 in 2023|6Part II:Out With the Old,In With the New7|5 Metrics That Service Leaders Should Measure in 2023As companies look to reinvigorate the customer experience,the pressure is on to be more data-driven.But what does that mean when your organization is already following industry best practices?If

15、they are the same industry best practices as a decade ago,its time to freshen up the way you measure success.Here are some new ways to think about traditional KPIs and how to incorporate these Service Intelligence Metrics into your data-driven service organization.7|5 Metrics That Service Leaders Sh

16、ould Measure in 20235 Metrics That Service Leaders Should Measure in 2023|8Traditional KPI:First Time Fix Rate(FTFR)What is it?First Time Fix Rate has been a foundational metric in the field service world for years.Its a great metric to help leaders determine whether or not technicians are fixing th

17、ings correctly the first time.The challenge:However,First Time Fix Rates are highly subjective and are defined very differently across organizations.For example:Company A measures FTFR based on the amount of times an issue occurs with a specified time frame of the previous visit.Company B measures F

18、TFR based on the managers discretion.The manager determines whether or not the job was a successful fix,resulting in subjectivity.Company C measures FTFR based on different windows than other companies.They claim to have a 99%FTFR,and cited Company D having a rate of 75%.However,Company C does not r

19、ealize that it measures FTFR in 5-day intervals,while Company D measures their rate in 30-day intervals.Because of its many variations across companies,FTFR doesnt always reflect a customers true experience.If a technician successfully fixes an appliance that breaks again a short time later,the cust

20、omer will still have a poor experience.A more standardized way of looking at this metric is through a Customer Experience Index.9|5 Metrics That Service Leaders Should Measure in 2023What to measure instead-Service Intelligence Metric:Customer Experience IndexWhat is it?The Customer Experience Index

21、 looks at service from the customers point of view.It considers quality of service provided,loyalty,and more and helps organizations understand how customers perceive and feel about their experiences.Why is it more accurate?Customer Experience Indices remove company-specific metrics.They focus solel

22、y on if a technician had to visit a customer,and how often visits occurred over the first 30 days after an initial break-fix visit.By looking at repeat visits,organizations can begin to identify trends,behaviors,and potential improvements.5 Metrics That Service Leaders Should Measure in 2023|10 Trad

23、itional KPI:Cost Per Visit(CPV)What is it?Work orders are the engine of maintenance operations,and managing cost is an essential part of any service leaders job.Cost Per Visit(or Cost Per Work Order)measures rates for materials,labor,and more per job.The challenge:Often,looking at the average Cost P

24、er Visit or Work Order is a good way to get some indication of overall cost.However,it can be skewed.For example,Company A may show a manageable Cost Per Work Order.But if its technicians are evaluated solely on keeping costs low,they can just open a new work order,which lowers the average overall c

25、ost.Cost Per Work Order also leaves out cases where only experts are assigned to complex and expensive jobs.It also does not account for cases where multiple work orders are related to the same core issue.What to measure instead-Service Intelligence Metric:Cost Per Successful Resolution(CPS)What is

26、it?More commonly known as Cost Per Success,this metric measures the dollar amount needed to close a service ticket.CPS takes into consideration multiple visits and truck rolls,a variety of parts,and labor costs.Why is it more accurate?Cost Per Success provides a more holistic view of performance.For

27、 example,lets say Technician A only needs one visit to fix a machine,totaling$1,000 for the entire job.Their colleague,Technician B,needs three visits at an average cost of$500 to perform the same fix.In this scenario,with Technician B costing the company$1,500,Technician A would be considered the m

28、ore desirable candidate for this job.11|5 Metrics That Service Leaders Should Measure in 2023 Traditional KPI:Mean Time to Resolution(MTTR)What is it?A key metric in measuring customer experience,Mean Time to Resolution shows how long it takes to solve a customers issue.It typically starts tracking

29、at the start of the customer interaction and ends when the issue is resolved.The challenge:Just like Cost Per Work Order,Mean Time to Resolution is extremely susceptible to bad data capture and manipulation.In most cases,MTTR is measured from the beginning to the end of the initial service call or t

30、he time it takes a field technician to repair an issue in that visit.But recording the end of a job can be very inaccurate,especially because technicians can forget to close a job at the end of the day.What to measure instead-Service Intelligence Metric:Mean Time to Stability(MTTS)What is it?Instead

31、 of measuring individual moments and Mean Time to Resolution by work order or service call,Mean Time to Stability is a holistic way of measuring the customers experience.Measured in days,Mean Time to Stability tracks the amount of time between a customer raising an issue,to the last visit date where

32、 they did not need to call back within 30 days.Why is it more accurate?As its name indicates,Mean Time to Stability represents a customer whose state of service is not likely to change.Making accurate fixes the first time around reduces the number of interactions and visits which allows orgs to see

33、a dramatic improvement in a customers stability over time.For instance,most customers do not mind if a job takes four hours to be successfully completed in a single visit.However,they are likely to be dissatisfied if a fix takes two hours to be resolved,but the technician needs to return within a we

34、ek because the machine broke again.5 Metrics That Service Leaders Should Measure in 2023|12 Traditional KPI:Mean Time Between Failures(MTBF)What is it?Mean Time Between Failures quantifies the average time between customer issues.It measures a combination of uptime,asset/product quality,and workforc

35、e performance.A higher rate represents excellent service quality and maximum uptime,so service orgs usually maximize this metric.The challenge:Mean Time Between Failures defines failure points,but what about maintenance jobs or break-fix interactions?Customers want to receive value from the product

36、they bought,so in the end,its way more important to focus on the overall experience of the customer.Its worth asking the question:do customers need to reach out to us?And if they are reaching out:is something happening thats taking away from the value that they expect?What to measure instead-Service

37、 Intelligence Metric:Mean Time Between Events(MTBE)What is it?Need to measure the average time between each touch point with a customer?Mean Time Between Events is the way to go.Why is it more accurate?In the best of cases,organizations want to ensure that they dont have to often reach out to custom

38、ers about fixes.This means that they are happy with the value theyre receiving from the product.In the case of Mean Time Between Events,it also doubles as a preventative measure and a way to incentivize a workforce.Maintenance visits and their effectiveness can be measured at a workforce level.For i

39、nstance,assume that there are two technicians both with amazing customer experience indices.However,when Technician A works on an asset,it lasts 30%longer before the next touchpoint than Technician B.This could indicate that Technician A is taking a much more holistic approach to maintaining an asse

40、t,which you could reward in order to encourage similar approaches from the rest of your technicians.13|5 Metrics That Service Leaders Should Measure in 2023Traditional Method:NPS and Customer Satisfaction SurveysWhat is it?In the case of Customer Risk Scores(or Customer Health Scores),there are a lo

41、t of routes to determine overall customer satisfaction,such as NPS and basic customer satisfaction surveys.They measure service promoters and detractors in a simple way:happy customers indicate strong performance,while dissatisfied customers indicate poor experience.The challenge:Typically,NPS measu

42、res qualitative experiences,such as technical workforce skills that indicate how quickly a problem is resolved.It can also reflect a customers opinion about how they feel theyve been treated(soft workforce skills).However,these metrics require active participation from customers.The results arent pr

43、edictive,so they dont help to avoid escalations.Additionally,these surveys offer an incomplete look at todays service,rarely pinpointing a specific factor,event,or situation that made the respondent dissatisfied.What to measure instead-Service Intelligence Metric:Customer Risk ScoreWhat is it?Custom

44、er Risk Score is a CX-focused metric.It offers a data-driven perspective on if a client is likely to run into service issues,based on your historical data.Customers can be“re-scored”over time to refresh their risk calculation.Why is it more accurate?Customer Risk Scores can be generated by taking CE

45、I,MTTS,MTBE,CPS,and more into consideration.Each score is individual,identifying a customer that is not experiencing the normal stellar experience that youd typically provide.And,more importantly,the scores surface concerning trends before the customer calls out of anger.13|5 Metrics That Service Le

46、aders Should Measure in 20235 Metrics That Service Leaders Should Measure in 2023|14Part III:Conclusion15|5 Metrics That Service Leaders Should Measure in 202315Making the switch from traditional KPIs to Service Intelligence Metrics makes a huge difference in your customers experience.And it all beg

47、ins with a proper analysis of your existing customer data.With the help of Aquants AI-powered analytics,you can organize your data and identify areas of opportunities within your organization.SIGN UP TODAY FOR A 90 DAYSERVICE INSIGHTS PILOT.Gain access to the field service industrys most powerful business analytics.Whats Next?START YOUR FREE TRIALaquant.io/platform/service-insights/5 Metrics That Service Leaders Should Measure in 2023|16