At a very simplistic level, data and research can be drawn from marketing and sales practices to maximise the impact on retention. Let’s look at a couple of simple examples:
- Email open rate – Marketers use metrics to gauge the success of the email communications they send out. We can do the same in Customer Success. If our customer messaging, used to drive adoption of our product, has below industry standard open and click rates, then a new approach or revised copy should be considered.
- Engagement – If our CSM’s are not reaching out proactively to engage in driving success outcomes but only make contact to arrange the renewal, you can be sure that customers will churn soon enough. More engagements = lower churn, you don’t have to look very far to find the scientific research that supports that.
In 2018 Gainsight launched their prescriptive methodology, the Periodic Table of CS Elements, for more information read this blog piece. Since its launch I have been living with it, working with it, using it as a roadmap to focus our efforts to achieve optimal results.