Startup News Hubb
Advertisement Banner
  • Home
  • Startups
  • News
  • Startup Mentors
  • Contact
No Result
View All Result
  • Home
  • Startups
  • News
  • Startup Mentors
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Startups

Use customer health data to grow and forecast NRR • TechCrunch

admin by admin
December 6, 2022
in Startups


Kellie Capote
Contributor

Kellie Capote is chief customer officer at Gainsight, where she leads the entire post-sales organization, including customer success management, support, professional services, and the CS Ops & Scale teams.

An old maxim among courtroom litigators states that you should only ask a question of a witness when you already know how they will answer. Otherwise, you might be in for an unpleasant surprise. For this reason, effective prosecutors and defense attorneys engage in various pre-trial activities, including “witness prep,” to help them take control of the narrative.

As many SaaS companies look to increase Net Revenue Retention (NRR) to compensate for weak or declining sales, they may want to adopt and adapt this maxim to say: “Before we ask existing customers to renew or expand their subscriptions, we will pursue customer success (CS) strategies and activities (“customer prep”) that help us avoid unpleasant surprises and increase the number of successful outcomes.”

Now comes the tricky part. What kinds of customer health data should you collect and analyze to help you avoid unpleasant surprises? And which strategies and activities should your sales and post-sales teams pursue in response to this data?

A DEAR solution

Essentially, the DEAR customer outcomes score enables you to connect workflows to leading indicators and lagging outcomes.

Historically, many CS leaders have relied on anecdotal evidence and presumed “best practices” in the hope of boosting NRR. Even when this approach seemed to work, customer success managers (CSMs) often lacked the empirical evidence to firmly connect the success with their team’s good work.

To overcome such strategic “squishiness,” we spearheaded the development of a more scientific, data-driven customer health scoring and retention modeling methodology. Known as DEAR (Deployment, Engagement, Adoption, ROI), this framework aims to help CS teams deliver exceptional customer experiences and drive existing customers to their desired outcomes. In addition to a customer experience score, DEAR also provides a customer outcomes score, an objective indicator of whether the customer is seeing value and ROI on their investment.

Below is a breakdown of DEAR’s four components.

Note that in order to efficiently leverage this information, you’ll need the right technology (ideally, customer management software) and behavioral data (ideally, telemetry about how your customers are using the product).

Deployment

Is the customer activated? Are they set up to effectively use what they bought? Poor Deployment is often a strong indicator of the risk of partial churn or downsell.



Source link

Previous Post

Guidelines for Running an Eco-Friendly Landscaping Company

Next Post

Infrastructure monitoring startup Trendspek banks $6.3 million in Series A

Next Post

Infrastructure monitoring startup Trendspek banks $6.3 million in Series A

Recommended Post

How To Get Comfortable Taking Risks (According To These Eight Entrepreneurs)

3 days ago

The administrators of monograming fashion brand The Daily Edited are looking for a buyer

3 months ago

Why international DFIs are looking to African startups to scale impact investing efforts • TechCrunch

2 weeks ago

Egg Rush At Local Homestead Farms

2 days ago

The Startup Magazine Knowing Exactly What Your Startup Needs

2 months ago

610+ One Word Domain Name Ideas For Your Business

1 month ago

© 2022 Startup News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Startups
  • News
  • Startup Mentors
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Startups
  • News
  • Startup Mentors
  • Contact

© 2022 Startup News Hubb All rights reserved.

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/