Keen to hear if anyone is looking into measuring success using CPV rather than NPS and other customer pulse checks?
And if you are looking at CPV, how are you doing this?
Customer perceived value (CPV) is a key factor in determining whether or not customers will renew. Here are some ideas of what you can do to solidify value and guarantee renewal:
We espouse a system that integrates with Salesforce to automatically ask all of the "right" people (especially stakeholders) the "right" questions at the right time along the customer lifecycle/journey. For example, it doesn't make sense to ask about value perceptions right after onboarding, but it certainly makes sense to ask the question well in advance of renewal.
We also have optimized a method where we get 80%+ response rates from those "right people." So as an example, if you have 5 people in the account that influence buying decisions then I feel confident we'll get at least 4 people participating. So not only do we know for certain that the "signal" (in this example, perceptions of value) are accurate at the account level, but also as we roll up data to cohorts we can be confident that it's Actionable, Representative, and Trustworthy (what we call, ARTful data).
Not sure if this is enough info to address your question? Of course I'm happy to provide more.
/Steve
Hello Deanna, you may already be aware, but if not, you should check out TheySaid's CPV solution. You can learn more here: https://www.theysaid.io/product/customer-perceived-value