Data is the key to understanding your customer health, experience, and journey, but identifying your metrics and goals in a way that align to your own organizational stage and maturity is a foundational part of the process.
In our February 22, 2024 Office Hours, this was the topic that Daryl Vavrichek brought to the group. From startup to enterprise, how do metrics and goals shift, and how do you scale these processes as you grow? And if you had fewer than 100 customers with strong renewal numbers, what is the one critical data point you would track?
What goals should be considered, especially when looking at how customer relationships differ?
- Onboarding
- Utilization
- Adoption
- Customer value
- Customer Acquisition Cost (CAC)
- Time to Value impact on results
Question to ask when determining metrics: Where do you sit in the company (cost center or growth/revenue generation) and prove the ROI
Some things to consider during the process of making this scalable:
- Customer journey needs to be thought through and well understood so you understand the various points that might need tracking
- Do you fully understand your Go To Market (GTM)?
- Segment your customers based on patterns, use case focus, maturity. Make sure you are using the customer journey to identify styles. If you have smaller customer numbers in your segments don’t jump to adjust based on 1 or 2 examples
- Identify KPIs that are shared with other divisions to help increase investment and identify responsibility.
- Is your Ideal Customer Profile (ICP) mapped correctly with product fit and understood by the marketing team?
- What systems are in place (or need to be built) to track your metrics
To consider: Be willing and ready to consider project planning which lends itself to segment management
One Data Point for strong renewal with fewer than 100 customers
- True SaaS (transactional type)
- Usage
- Upsells
- Referrals, case studies, references
- Onboarding experience metrics
- Customer handoff
- Time to value
- Consultative
- Retention and relationships around clear outcomes met in MOU
- Upsells
- Referrals, references
