Most organizations are unable to measure the value of their customer-focused efforts leading to ineffective spend against retention and inhibiting their ability to focus on growing customer revenue.
What is Customer Success spending their time on?
Are they fire-fighting to save customers? Do they spend the majority of their time repeating product education and how-to related inquiries customers have? And are they managing the customer to success or is the customer managing the Customer Success Manager?
This inability to measure how the company’s efforts drive progress to revenue growth typically means that companies have not yet figured out how to run the discipline of customer success within their organization consistently enough.
Can the organization measure how close its operations are to supporting the customer desire path and use those insights gained to continuously improve operations and drive the most efficient revenue generation?
Revenue protection is expensive, time consuming and never goes away.
Retaining customers is an on-going effort that results in customer loyalty.
That expense never goes away and when done poorly, it is very expensive.
When done really well, it not only drives customer retention but expanded revenue too.
Retention effort therefore needs to be viewed as something to be optimized.
An inability to measure the value of customer-focused efforts and optimize them accordingly will lead to ineffective spend against retention and hold a company back from focusing on growing customer revenue.
It is in the best interests of a company then to measure how effective their practice is at driving customer success and by extension, revenue.
Measure your progress to smarter, faster revenue growth.
When a company understands its customers - what they are trying to achieve, why the bought the product and how it seamlessly fits into their organization – it can create a prescriptive approach to customer management that is measurable.
The prescriptive approach becomes the means by which to create a repeatable practice of Customer Success plays (effort) that can be measured.
By directly aligning its operations to a prescriptive approach that supports customers in achieving their desired outcomes, a business is creating an intelligent framework that anchors on the customer’s total business.
Using the intelligent framework and DesiredPath Metrics and benchmarks helps not only to measure the customer’s progress through the journey, but also indicates how effectively your operations are at moving them through it.
An approach that allows a company to measure how close its operations are to supporting the customer desire path and use the insights gained to continuously improve operations and drive the most efficient revenue generation is the intelligent way to smarter, faster revenue growth.