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KPI Report

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David Berger
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Reservation Sales > Reports > KPI Reports

Understanding the KPI - Key Performance Indicator Report

The Key Performance Indicator (KPI) Report enables the Reservation Sales Manager to set team and individual goals for the month in order to measure your progress against those goals on a daily basis. The KPI Report offers the option to analyze your monthly business data and reservations team metrics as a whole, as agent teams within your account configuration or by individual agent. The goal of the KPI Report is to provide key metrics that show you the health of your reservations department, allowing you to make strategic changes throughout the month to meet department goals. Please note that at every KPI meeting you will also want to have the Reservation Sales Suite available so that you can do further research if necessary.

Getting Started

There are two steps for configuring your account for the KPI Report:

  1. Select your KPI Call Scoring Template. From the Reservation Sales Suite, select Account Settings > Account Preferences and then find the row for KPI Scoring Template.  Select the call scoring template you would like to see on the KPI Report (this should be the same one you use to measure your agent’s sales skills). If your team has more than one scoring template, please review your additional templates from the Reservation Sales Suite during your KPI meeting.
  2. Set monthly goals. From the Reservation Sales Suite select Account Settings > KPI Goals and enter your goals for the following metrics:

Screenshot 2024-08-15 at 1.51.19 PM.png

Revinate recommends setting some of the KPI Goals in the following manner:

  • Identify IB Call Conversion and Revenue Per Booked Lead goals.
  • Determine Total Lead Revenue goal. Typically based on PMS data for team bookings in the month for any future dates last year (taking into account any increases in revenue you had budgeted for the year)
  • To determine an Outbound Follow Up Revenue goal, multiply Total Lead Revenue by 7-10% depending on the team’s proficiency with outbound follow up.
  • To determine your call volume goal, begin by subtracting outbound revenue from the Total Lead Revenue goal. Next, divide this amount by the revenue per booked lead in order to determine the number of booked leads needed to reach this goal. Finally, divide the number of bookings by the conversion goal in order to determine the Lead Call Volume goal.

 

Revinate Best Practices recommend the following thresholds for some of the goals listed above. Goals that are specific to your business model can be determined by working with your Customer Success Manager .

 

Best Practice

Call Monitoring Threshold

97%

Call Compliance

95%

Team Occupancy

40-80%

Dashboard Abandon Rate

4%

Team Average Score

75-90%

Average Speed to Answer

20 seconds

Average Handle Time

Varies based on inventory and complexity of sale

 

You can also enter the following goals/actual information for each agent or reservations team. The Best Practice recommendation for the number of coaching sessions and number of calls scored is 2 and 10 respectively for each primary agent.

  • Conversion Rate
  • Coaching Goal
  • Scoring Goal

There is also a section for goal comments that will print at the end of the KPI Report.

Divide KPI Report by Call Center Teams

If you have a large reservations center, or multiple reservations teams that take calls for multiple properties, you can configure your reservations agents into groups of “teams” and review their KPI statistics on separate team versions of the KPI report. Note that you can only create one set of team goals. These goals will apply to all teams.

Once you establish teams for your agents, you will have access to an “All” KPI report and individual KPI reports for each team.

Team Totals Report

  • The Performance Overview section contains the totals of all team data added together.
  • The detail sections of the report show line items for each team’s total:

KPI-02.png

Note that the “No Team” row will only appear if any agents are not assigned a team once an account has opted to create teams.

Specific Team Report

  • The Performance Overview section contains the totals for just the agents that belong to the particular team
  • The detail sections of the report show the individual agent performances that belong to the particular team.

Note that in the team version of the report, the data presented in the Total RezForce Follow-up and Total Inbound Lead Call Volume and Abandonment Rates sections represent the data for the client’s account as a whole.

Key Performance Indicator Report Overview

To access your KPI report go to the Reservation Sales Suite > Reports > KPI Reports. Revinate updates these reports on a nightly basis for the current month. Throughout the day they are static with no “real time” data showing.  Once a month has ended, the data will be archived and the data on the KPI report for that month’s report will be locked.

Performance Overview – shows the overall performance of your account against the goals set for the month broken down into specific areas including:

  • Conversion, Scoring and Coaching
    • Inbound Call Team Conversion - shows lead call conversion for the team (Booked Calls/Booked + Not Booked + Hot Lead calls)
    • Scoring and Coaching – shows the number of calls scored using the KPI Scoring Template selected under Account Preferences.
    • Coaching Appointments – shows how actual coaching sessions compare to the coaching goals set for the team. This number reflects the actual number of new coaching sessions created during the month.  Note that this section now wraps after the 15th For more information on using the Coaching Sessions tool, please review the Revinate University Coaching curriculum or the many coaching how-to documents in the Revinate Knowledge Base.
    • Team Scoring Average - shows the average call score percentage using the KPI Scoring Template selected under Account Preferences.
  • Revenue
    • Booked Lead Revenue - shows the total revenue on any lead form with a reservation made during the current month, regardless of original contact date.  This amount does not include any revenue from RezForce bookings or RezForce Leads.
    • Revenue Per Booked Lead - shows lead revenue divided by the number of bookings.
    • Lost Opportunity – shows the revenue potential if all agents were to convert at the inbound call team conversion goal. The difference between the number of bookings that would be attained at the team conversion goal, and the actual number of bookings, multiplied by the revenue per booked lead, will provide you with this dollar figure.
  • Lead Follow Up
    • Outbound Revenue – shows revenue for any booked lead forms with a reservation made date within the month, where the booking method field on the lead form is marked as outbound. This amount does not include any revenue from RezForce Leads.
    • Total RezForce lead Conversion – shows the clients lead conversion rate for leads that were originated by RezForce.
    • Total RezForce Lead Revenue shows the amount of revenue booked from client followup on RezForce leads.
    • Auto-completes – shows the number of auto-complete leads for the team.
    • Total unassigned auto-completes – shows the number of auto-complete leads without an assigned agent on the lead form.
  • Call Monitoring and Compliance
    • Call Result Accuracy – shows the number of call results changed subtracted from the total number of calls then divided by the total number of calls answered for the team, calculated as a percentage.
    • Res/Lead Call Compliance – shows the number of Reservation Lead Calls with compliant lead forms divided by the total number of Reservation Lead Calls, calculated as a percentage.
  • Call Center Metrics
    • Agent Occupancy – shows the teams “In a Call” percentage plus “Wrap Up” percentage.
    • Average Handle Time – shows the average handle time for the team or the sum of time in a call plus wrap up (minutes).
    • Total Inbound Lead Call Volume – shows the number of lead calls taken by the team (Booked, Not Booked or Hot Lead).
    • Res/Lead Rate – shows the percentage of lead calls (Booked, Not Booked or Hot Lead) to total answered calls for the team.
    • Total Abandon Rate – shows the percentage of abandoned calls (Dashboard, Voicemail during hours, No Agents and On Hold) to total dashboard presented calls.
    • Average Speed to Answer shows the average time (seconds) between when a call is delivered into dashboard (call queue) and when it is answered.

KPI Body
Within these broad categories are numerous metrics that offer insight into your reservation sales success including the ability to look at data from a month to date prorated view, always measured again current monthly goals, as well as last month and this month last year’s data for comparison.

Agent Inbound Call Conversion Goals – measures each agent’s inbound call conversion performance against their individual goals. It also shows you the number of lead calls each agent answered.

Additional Metrics Include

  • Total Answered Calls – The number of calls answered by an agent.
  • Res|Lead Calls – The number of Booked, Not Booked or Hot Lead calls answered by an agent.
  • Lead Call Percentage of Total – The percentage of lead calls an agent answered as compared to the total lead calls the team has taken.

Agent Opportunity Compared to Team Conversion Goal – shows the revenue gained or lost for each agent if he/she had converted at the team conversion goal. The agents with the highest lost opportunity indicate who should be coached first. This is the best indicator of who should be coached on your team and who should not be answering your lead calls. To better understand how these important metrics are calculated, see the equation below.

KPI-03.jpg

# of Lead Calls Received by Agent *Conversion % at the Team Goal
Minus the # of Booked Calls by that Agent) * Average Stay Value = Lost or Gained Opportunity

For example, Agent A received 370 lead calls and booked 147 of them. If he/she had booked at the Team Conversion Rate of 42%, (370*0.42 = 155), he/she would have booked 155 calls. Since he/she converted at a rate of 39.73%, he/she missed the goal by 8 bookings.  His/Her inability to achieve the team goal resulted in Lost Opportunity of $11,914, a number based on Average Stay Value for this time period.

Scoring and Coaching – Shows the number of scored calls and coaching sessions by agent as well as goals, prorated amounts, variance as well as previous months numbers.

Agent Average Scores – shows how each agent compares to the team average score goal as well as scoring on each individual criteria.

Scoring Criteria – displays the scoring template used to score calls as well as the weight of each criteria and the teams’ proficiency. Note that only one scoring template can be selected to appear within the KPI Report. Any calls scored on alternate templates will not appear within the KPI. Any changes to the KPI Scoring template is recommended to occur prior to the end of the month to ensure that all scoring metrics are captured within the next month’s KPI Report.

Outbound Follow-Up Revenue – shows the number of bookings and revenue for each agent, month-to-date compared to last month and this month last year [Note that in the team version of this report no goals will display for Outbound Follow-Up Revenue].

Additional Metrics Include

  • Outbound Answered Calls – The number of outbound call attempts made.

Total RezForce Follow-Up – shows the number of RezForce leads, client bookings using RezForce leads, client conversion % of RezForce leads, and booked revenue for month-to-date compared to last month and this month last year [Note that in the team version of the report, the data presented in the Total RezForce Follow-up sections represents the data for the account as a whole].

Lead Status – Displays the number of leads in each Lead Status, for leads with an initial contact date in the given month. In addition this report displays unassigned leads by status in a separate column.

Call Result Accuracy – shows the number of call results changed divided by the total number of calls answered for the team as well as last month’s percentage.  Additionally, agents that are below your team goal will be flagged in red.

Additional Metrics Include

  • Non Res|Lead to Res|Lead – Indicating calls changed to (Booked, Not Booked or Hot Lead) from any other call result, a warning sign of inflated call conversion.
  • Res|Lead Rate – The percentage of an agents total calls that were leads (Booked, Not Booked or Hot Lead). This percentage should be consistent across the team, typically a lower percentage for an individual agent indicates inflated call conversion percentages.

Res|Lead Call Compliance – shows by agent, which agents have calls that are non-compliant indicating the areas where you will want to coach your agents. In addition, a column shows the percentage of times your agents chose RTG as compared to their total number of lead forms.  High use of RTG typically indicates necessity for training around capturing email addresses.

Agent Productivity Details – shows the percentage of time in occupancy for each agent. Occupancy is defined as the amount of time “in a call” and “in wrap” up divided by the amount of time available to take calls. This report includes both inbound and outbound phone calls.

 

Additional Metrics Included

  • Uptime – The total amount of time that an agent is logged into dashboard.
  • Available – Indicates the amount of time an agent was in an available status including Ready, In a Call and Wrap Up.
  • Unavailable – Indicates the amount of time an agent was in an unavailable status including Away, Project, Break, Lunch and Training.
  • % Unavailable – Close attention should be paid to the amount of time an agent spends in an unavailable status as compared to their total uptime. Unavailable statuses can be used by agents to avoid handling calls and ultimately results in higher abandon rates and speeds to answer.
  • Requeue - Requeue indicates how many requeues an agent had during the month of the report. A requeue occurs when an agent is presented with a call, does not answer the call within the amount of time indicated in the Max Agent Answer Time field, and the call is delivered back into the queue and delivered to another agent.

Lead Call Volume and Abandon Rates – shows a variety of call metrics related to abandon rate and service level. Each metric is shown for month-to-date, last month, and this month last year [Note that in the team version of the report, the data presented in Total Inbound Lead Call Volume and Abandonment Rates sections represent the data for the client’s account as a whole].

Additional Metrics Included

  • Dashboard Abandoned -Calls where a press option was selected that took the caller to Dashboard, the caller then hung up before they were answered in Dashboard.
  • Abandoned No Agents - Calls where a press option was selected that took the caller to Dashboard, and they hung up while there were no agents signed into Dashboard.
  • Abandoned On Hold - These are calls that were initially answered in Dashboard, placed back on hold and hung up.
  • Abandoned V/Mail during Hours - Calls that were delivered to Dashboard, went to voicemail after reaching the maximum hold time, and hung up while the voicemail prompt was playing.
  • Presented Total – Indicates dashboard presented calls.
  • Average Abandon Duration – The average length of time a caller will hold (seconds) before abandoning; note this average calculation does not include the “Abandon On Hold” status.
  • Abandoned Rate % - The average percentage of “Total Abandon” calls divided by the “Presented Total”

Goal Comments – Goal comments can be used to keep note of your goal setting session with management or any nuances or explanation of goals.  In addition you can add a date and your initials prior to sending out to management. 

Goal Comments – Goal comments can be comments used during your goal setting session with management or you can add a date and your initials to add comments to your report prior to sending out to management. 

How To Prepare For Your Weekly KPI Meeting

The Weekly Key Performance Indicator (KPI) Report is designed to give Owners, General Managers and Stakeholders a weekly report showing how the Reservation Sales Manager and team is managing the and how your staff is making progress in certain key performance metrics.  By documenting several weeks of data from the Reservation Sales Suite the report provides:

  • Specific data to discuss in a short weekly, focused, high level meeting.
  • Data that can help the Reservation Sales Manager make weekly adjustments in scheduling, training and coaching of agents.

When analyzed on a weekly basis, the Key Performance Indicators will help you make adjustments during the month that will generate more revenue instead of waiting until the end of the month.

The Process

Revinate Best Practices recommends that the Reservation Sales Manager generates the Key Performance Indicator Report weekly (on Monday for the previous week, Monday through Sunday) and sends the report to the Owner, General Manager, Stakeholders and the Revinate Customer Success Manager .

Management then schedules a weekly (30 minute) meeting with the Reservation Sales Manager to discuss the items included in the report and ensure that everything is being done to maximize the use of the Reservation Sales Suite system in order to achieve maximum revenue.

The purpose of meeting weekly to discuss the Revinate Key Performance Indicator Report is to adjust strategy and approach in order to ensure that you are meeting the monthly goals set for your business.  The KPI report should be owned and distributed by the Reservation Sales Manager (RSM).

Monthly KPI Meeting – Review and Set Goals

Prior to each month, we recommend that you set goals for the month. For each goal you will want to ensure that you have buy-in from your stakeholders, marketing manager, revenue manager and reservation sales agents. We recommend that you set goals based on the following:

  • Last year’s data
  • Current trends set by your metrics in the previous 3 months
  • Current market trends
  • Your Customer Success Manager 's recommendations
  • Budget goals/projections

Also consider the relationship between Call Conversion, Revenue Per Booked Lead, Total Lead Revenue, Outbound Follow Up Revenue and Lead Call Volume when setting goals.

Revinate recommends setting some of the KPI Goals in the following manner:

  • Identify IB Call Conversion and Revenue per Booked Lead goals.
  • Determine Total Lead Revenue goal. Typically based on PMS data for team bookings in the month for any future dates last year (taking into account any increases in revenue you had budgeted for the year)
  • To determine an Outbound Follow Up Revenue goal, multiply Total Lead Revenue by 7-10% depending on the teams proficiency with outbound follow up.
  • To determine your call volume goal, begin by subtracting outbound revenue from the Total Lead Revenue goal; i.e.:

KPI-04.png

Next, divide this amount by the revenue per booked lead in order to determine the number of booked leads needed to reach this goal; i.e.:

KPI_05.png

Now divide the number of bookings by the conversion goal in order to determine the Lead Call Volume goal; i.e.:

KPI_06.png

On a monthly basis the RSM will want to report the following to their Customer Success Manager , stakeholders, marketing manager, and reservations staff:

  • How you did last month
    • Review Revinate specific goals (e.g. inbound call conversion, lead follow-up, inbound call volume, abandon rates)
    • Review overall revenue goals
  • Why you exceeded your goals or why you did not meet your goals
  • Why you recommend your goals for the next month

This report can be discussed during your monthly meeting, emailed out to your group, or you can enter this information under “Goal Summary” under Account Settings > KPI Goals in the Reservation Sales Suite.

Weekly KPI Meeting – Review Progress Compared to Monthly Goals

On a weekly basis, look at your monthly goals compared to your progress so far in the month. This is the time to discover what is working well and where you can improve your operations. Following are some metrics and questions to review:

  • Inbound Call Conversion – what worked well and why? If you did not meet your goals what will you do differently? Do you need to change which agents are taking the most calls. Who will you coach more?
  • Calls Scored – why are we not meeting our goal? Are we scheduling time to score calls? Are we scoring strategically, starting with the agents that are low converters with the most amount of lost opportunity?
  • Coaching – why are we not meeting our goals? Are we coaching strategically, starting with the lowest converting agents?  What types of goals are the Reservation Sales Manager setting and what are we doing if the agents are not meeting these goals?  Is the coaching method working or do we need to re-evaluate?
  • Outbound Revenue – is your staff appropriately following up on leads? Do you need to monitor more closely or set individual outbound sales goals for staff?
  • RezForce Revenue – Are we following up with all RezForce leads in a timely manner? Are we reviewing Policy Issues, Availability, and Not Booked leads and following up when there is an opportunity?
  • Call Results Accuracy – why are we not meeting our goals? If there are not many call results changed, is your Reservation Sales Manager monitoring enough Non-Lead calls? Is your management team calibrated on what is a considered a lead (whenever there is an interest to stay regardless of specific dates)?
  • Lead Call Compliance – why are we not meeting our goals? Has the Reservation Sales Manager provided the right amount of training and coaching? How can you hold your agents accountable?
  • Agent Occupancy – why are we not meeting our goals? Is the team using the Dashboard status tool correctly? How many outbound calls is each agent making? Are we over or under staffed? Is this due to a specific agent or multiple agents?
  • Inbound Lead Volume – Are you generating enough inbound call volume to meet your monthly revenue goals? If so, what marketing promotions are working or not working? Look at the past 3 months and last year.
  • Abandonment – are we staffed appropriately? Is there a trend by hour of day or day of week that we need to review? Are the agents being “sales makers” and aggressively taking calls or should we consider Revinate auto call delivery?
  • If your occupancy is low, are you overstaffed? If your abandon rate is high, do you need to staff better? If so, during what hours/days?

Prior to every weekly KPI meeting, update your Customer Success Manager , stakeholders, marketing manager, and reservations staff on your recommendations. You can do this via email or by updating your “Goal Summary” in the Reservation Sales Suite under Account Settings > KPI Goals so the agenda, goals, and action items are saved on the KPI report .

Sample KPI Meeting Agendas

Below are some examples of KPI Meeting Agendas:

Sample A

Points to Note:

  • Conversion overall is up and the team hit their target
  • Team scores are below target
  • Outbound revenue was pretty much on target
  • RezForce conversion is slightly below target but pretty good, even though revenue is not as much as we’d like
  • Calls are accurate and compliant
  • Ryan is doing really well on outbound calling revenue

Points to Discuss:

  • Eric and Ryan have both dropped significant % on conversion. I spoke to Eric about this during coaching and he thinks it is because he has had a lot of calls for times that we are sold out.  I explained that this would not affect his conversion if he was using the correct results.  I will be listening to more of his calls to check this.  Ryan is missing some of the key points on his calls so we are working on ways to get him to include all 7 non-negotiables.  This also shows in the agent opportunity section too.
  • Kenny has the best sales, but the poorest scores. “If it ‘aint broke don’t fix it”?  However, it is dragging the whole team down if I leave it.

March Targets

  • Team Conversion – 45.2%
  • Andy – 47.7%
  • Eric – 29%
  • John – 45.4%
  • Kenny – 56.2%
  • Ryan – 37.5

Outbound Calling = $21,000

RezForce Conversion = 10%, Revenue = $10,000

Sample B

Team Conversion Percentage

Goal: 40%                    MTD: 40.41%

The focus on identifying prospects, recommending property/unit type and selling the experience has increased conversion percentages. I have also allowed the use of property turndown if the agent offers alternatives and the guest is adamant they do not want a follow up phone call.   

MTD Call Scoring and Coaching

Goal: 80%

The new scoring template has helped me effectively communicate why the sales process works, not just what needs to be said to get credit. So far in April only a few calls have been scored. 

April’s first coaching session focused on:  

  • List 5 caller types you talk to the most and:
    1. What property would you think is best for that prospect
    2. What unit type at that property is the best for that prospect
    3. What property amenities do you think would be important to that prospect
    4. What local attractions do you think would be important to that prospect
  • Concierge potential
  • Discussed Revinate demographic profiles and how to best use this information
  • Information about the Florida Reef
  • Importance of tone and vocal variety in sales

Outbound Call Revenue

Goal: $50,000   MTD: $26,268

In April’s incentive program the agents can earn a bonus based on their outbound call revenue. It has increased everyone’s participation.  

Abandoned Call Rate

Goal: 8%          MTD: 7.6%

I am helping on the phones when available, and have had a staff at full strength during April

April’s GOALS

  • Score 5 Calls per agent by 4/23
  • Meet with each agent for 2nd coaching session by 4/30
  • Jim and Nancy to be Revinate certified by 4/30
  • Set up an automatic email thank you note for all non-booked calls
  • Work to use and understand Revinate tools and reports more

Sample C

AGENDA: 05/01/2011 AS OF 05/09/2011

Team Conversion Percentage – Goal: 37.13% MTD: 28.95%

MTD Call Scoring and Coaching – Goal: 75% MTD: 57.44%

  • Res/Lead Compliance is 11% off in the wrong direction.  
  • New way of scoring
  • Monthly meeting – Creating the Experience, Asking questions

Outbound Call Revenue – Goal: $6000 MTD: $2011

  • The team is doing an outstanding job with not only follow up appointments but with the Outbound Calling Campaign “Pay it Forward”

Rez Force Lead Follow Up - Goal: 10% MTD: 14.29%

Individual Agent Conversion Rate Assessment

  • Any ideas on how scoring can be high and conversion low?

*05/10– *05/31* /Action Items

 Get compliance cleaned up by next Friday

  • Get to 25% availability for Memorial Day- Currently we’re at 57%.
  • Get team conversion up to 37.13 by having more coaching
    • Coach the agent with highest lost opportunity first
    • Team coaching session on “interactive dialogue,” Role play asking open ended questions and asking the right questions then using what they discovered in their response to the caller.

 

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