Many organizations judge the health a business through the productivity of its customer support organization. It can be on areas such as how many ticket reps are closing; how many emails reps are sending among others. Companies such as Virginia Beach towing service have been doing exceedingly well when it comes to customer service. Customer success metrics helps managers to determine whether their reps are doing work in the right way, and also know the areas they are falling short of delivering the right results.
Here are important customer success metrics you should always track.
Customer health score.
Customer health score might sound obvious, but that is not always the case. Beyond answering customer questions, tickets and emails, are customers seeing the value from your products and services? How often are your customers using your products and services? How successful are they after they purchase your product? What type of impact does it leave on the overall business? Customer support goes a long way beyond just responding to customer inquiries, but also involves looking into the products and services customers deliver.
Net promoter score
Customer satisfaction goes beyond how a customer feels towards support reps, but also includes feelings customers have towards a brand and the product itself. To evaluate customer satisfaction, you will be determining how contented your customers are while interacting with your business. Customers who are happier with the experience you are offering them are more likely to return and do business with you.
Qualitative customer feedback
Another important thing you should look at is your customer feedback. What are your customers saying about you and the services you offer to them? What do they like most or dislike about your business? Customers’ needs to be assured that they have a voice. You need to offer your customers a chance to give feedback and provide insights that would otherwise lead to meaningful and long-lasting relationships. Customer success managers can use surveys and questionnaires to collect qualitative feedback.
Customer churn rate
Customer churn is a great metric to measure. To calculate churn rate, you will first need to determine the timeframe for which your data applies. It can be a week, a month or even a year. Then determine how many existing customers where there at the start of this period as well as the number of customers that churned during the same timeframe. You then divide the number of churned customers by the total number of existing customers to determine the churn rate.
Monthly recurring revenue
Monthly recurring revenue is a great metric to use in determining how much in terms of numbers, your customers are spending, in terms of the growth your business has had. This metric will outline the amount of money that your customers are spending on your products and services for each month. You can compare this value over time, to determine whether your customers are succeeding with your products or not. This metric can be particularly useful especially when running a SaaS business that operates on subscription model.