Success Metrics

Seda · 2024-04-05T11:26:26+00:00

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Greetings,

As a delivery issue management platform, we've recently transitioned from a pay-for-success model to a subscription-based model. In my new role as a Customer Success Manager (CSM), I'm encountering challenges in defining success metrics for our customers beyond just cost savings. While cost savings are important, our customers sign up for more than just that, and I'm seeking guidance on the best approach to address this issue. Any insights would be greatly appreciated.

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Seda

Thank you..
When we inquire about how our customers plan to measure their performance, they often don't have a response. One of the metrics we use is savings versus ARR . Despite customers consistently emphasizing the importance of having a unified platform, automation, and savings when they sign up, over 100 customers have responded with "I don't know" when asked about their measurement criteria. We asked different buy in comittee never have a real answer. Nevertheless, we understand that savings versus ARR remains a crucial aspect.

llitton

I completely agree that understanding each customer's unique definition of success is crucial. Ed's approach to asking probing questions like "What's important to you?" and "What would demonstrate success for you?" aligns perfectly with tailoring your approach to meet individual customer needs.

Sharing broader industry benchmarks and best practices can also provide valuable context for defining success metrics with our customers. For instance, during our onboarding sessions, we showcase three case studies that illustrate how others have succeeded in reducing suspensions, increasing attendance, and decreasing referrals—all specific metrics within the education sector. By highlighting these examples, we help our new customers envision what they can achieve in their schools and align their goals accordingly.

Combining individual customer insights with industry benchmarks allows us to create a comprehensive framework for measuring success that is both personalized and informed by industry standards.

Ed Powers

I think a common misconception is that we determine our quality and value, not the customer. It’s the other way around!

We may go to market communicating a value proposition that narrows the list of possibilities, but each account—and each person at the account—can define things differently. Part of good success planning, in my view, is to clarify and verify how each member of the account’s Decision-Making Unit expects and will experience value during their journey. Then we must put a method in place to show it at the right time, their “Moment of Proof.”

In my experience, customers always have the answers. We just need to ask them in the right way to find out. Perhaps asking “What’s important to you? Why? What would demonstrate that for you?” might be a good place to start.