We speak with Josh Daniels about his thoughts on Analytics as part of a Customer Success team.
Our key metrics have been two-pronged, metrics tightly tied to product usage like DAU/MAU, retention rate across key features, and then more CS focused metrics, specifically Net Renewal Rate and Net Promoter Score (and then tying NPS score to renewal rates).
I believe it is very important. It is easy to have assumptions about what customers are doing in app and how they are using the platform, but without data it is only assumptions. The data tells the story of a customer journey and that information is so valuable - it leads to: identifying at-risk accounts with plenty of time to turn the account around & up-sell candidates, as well as identifying features that are being underutilised & what features are sticky.
For me, I stick with the basics pretty much, I spend a ton of time in Google Sheets, it's hard to move away from what I am familiar with. I like using Tableau for data visualisations however, when presenting data company-wide.
Hire someone to work alongside the CSM's that can dig around in customer data and relay insights to the rest of the team. It is so easy to have assumptions and run with those, but the real customer story lies within the data. Secondly, have someone on your team who can build out customer-facing content that can be sent to customers based those usage data insights, such as specific feature training and industry-related training.
Retention rate, specifically tied to a certain feature, always intrigues me. It's interesting to see how often someone comes back and repeats the same action over and over.
Simon has over 10 years helping clients achieve their goals through the use of software. Having previously lead Customer Success teams in London, Europe and New York City, Simon now owns Kupr Consulting working with B2B SaaS companies to improve their Customer Success teams and processes.
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