How Does First-Time Fix Rate Relate to First Rate Service?
In the last blog on this topic, we discussed the benefits of a having a high First-time Fix Rate in regards to operational efficiency and the related costs. While the savings earned from a high First-time Fix Rate are impressive in their own right, there are other benefits to be had. These benefits can be found in your customers perception of your company.
In today’s marketplace, the gap between competing businesses can be closed relatively easily. Prices can be matched, services can be emulated, and sales pitches have a tendency to be indistinguishable across an industry. The real separator is Customer Experience.
A satisfied customer can be your best advertisement. Conversely, a disgruntled customer can cause long lasting, irreparable harm to a company’s image. Social Media can be (and should be!) leveraged to your benefit, but those same powerful tools of communication have also brought on ground swells of customer frustration when mismanaged.
In the Field Service industry, you’ve given assurance to an individual, or business, that the goods and services you supply will improve their work or life. Whether you are providing water, power, cable television, or heavy machinery, your customers are likely to rely on you for their daily operations. Your field technicians arriving promptly and resolving the problem without issue can turn a detracting customer into a champion for your business.
Aberdeen’s research for their First-time Fix Rate Report (2013) shows a strong correlation between First-time Fix Rate, customer satisfaction, customer retention, and overall service margins, suggesting that these benefits can be extremely significant in determining the sustainability of an overall service business.
For an excellent overview of First-time Fix Rate, how it affects your business, and actionable methods to raise it, we recommend reading Aberdeen’s First-time Fix Rate Report.