Financial Metrics & Customer Service

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  • 0:03 Financial Metrics in…
  • 0:36 Gross Margin Metrics
  • 1:01 Training Cost Metrics
  • 1:43 Operating Cost Metrics
  • 2:50 Lesson Summary
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Lesson Transcript
Instructor: Savannah Samoszuk

Savannah has over eight years of hotel management experience and has a master's degree in leadership.

It is important to look at many different metrics when dealing with customer service, including financial metrics. This lesson will take a look at common financial metrics used in customer service.

Financial Metrics in Customer Service

When dealing with a customer service operation, it is easy to just focus on quality and operational metrics. But it's important to spend time looking at financial metrics as well. Financial metrics are the key numbers and statistics associated with revenue and costs. And while customer service metrics obviously need to focus on customer satisfaction, you'll find that it's just as important to look at finances in order to improve customer service overall. This lesson will take a look at some of the common financial metrics customer service operations should focus on.

Gross Margin Metrics

Gross margin metrics measure revenue percentage after costs are deducted. While customer satisfaction metrics can let you know if your customers are satisfied, gross margin metrics will let you know if you're earning enough revenue to cover the costs of the services you are offering. For example, if you are running a restaurant you will have operational costs that have to be covered. Your gross margin metric will tell you how you are doing in relation to covering these costs.

Training Cost Metrics

Customer service operations require great personnel, and you do not get great personnel without training. Training cost metrics can measure costs associated with training personnel. Ultimately, your customer satisfaction is related directly to the training of your personnel. This is why it is important to look at metrics that relate to training. Are you putting enough money into the training of your personnel to ensure customer satisfaction? Or are you investing too much money into training?

Here are a few examples of training cost metrics you could use at your customer service operation:

  • Training cost per new employee
  • Ongoing training cost of all employees
  • Training hours per month

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