One Key Metric That You’re Not Tracking – StellaService
Complete Transaction

One Key Metric That You’re Not Tracking

Imagine you see a pair of shoes you like on a retail website. You’re ready to order, but are unfamiliar with the brand and want to know if the shoes run large, small, or true to size. You call the company, or perhaps initiate a live chat to get more information. The agent is incredibly helpful, explaining that the shoes run true to size for most customers, and even providing a link to a sizing chart as well as details on the company’s no-hassle return policy to give you more confidence. Having had all your questions answered, you’re ready to buy – and in this key moment, the agent asks the golden question: “May I go ahead and place this order for you today?”

This natural, unpressured approach to closing the sale makes the customer’s life easier and feels like a natural extension of the service interaction. Why, then, does it happen so infrequently? According to data collected by StellaService analysts, retailers in the Index have offered to complete a transaction just 8% of the time over the past year. This is a marked improvement from 6% in 2014, but still seems astonishingly low relative to the revenue opportunity.

Offers to complete a transaction happen most frequently via the phone support channel, which is unsurprising as this channel offers a real-time, natural conversation. Top performers in the StellaService Index offer to complete transactions by phone over 30% of the time, likely having a tremendous impact on revenue generated by their contact centers.

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So, how can your team maximize this metric? Here are a few tried and true tips based on our research:

  • Track it: Find a clear and objective way to measure how frequently your agents offer to complete transactions. Our clients use Stella Metrics to track this.
  • Make every interaction a highlight: Above and beyond interactions are three times more likely to generate an offer to complete transaction vs. interactions that are missed opportunities.
  • Empower your front-line staff: Ensure that your agents know how to place an order and feel comfortable doing so. Have them practice offering to complete a transaction. Agents who feel confident in this skill set will be more likely to offer to complete transactions for customers.
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