What KPIs does your marketing/sales team(s) use to assess a client's likelihood to renew or leave?
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VP, Marketing5 months ago
I would echo Suzanne's points. NPS and satisfaction scores are crucial metrics for us. In addition, maintaining constant communication with our clients is also key. It's a culmination of all these factors that help us assess a client's likelihood to stay or leave.
CMO5 months ago
It definitely depends on the industry you are operating in. I can really only speak to my experience in the SaaS world. Ideally you combine multiple metrics that would indicate a risk of churn. Those could include CSAT and NPS but I would also look at engagement with the software. These would be specific to each company. For example, when I worked for a company that developed digital auditing software for manufacturing plants we would look at the number of audits being conducted per month and if that number reduced. Also number of logins to the platform. Another indicator is often if your champion, executive sponsor or administrator of your software leaves the customer. By compiling this data in a unified dashboard, your customer success team can regularly review reports to see where a customer could be a risk on renewal. Depending on your size and scale e.g. consumer products with millions of clients versus enterprise B2B with a few hundred clients, how you manage this will vary and even within a company, strategic, larger clients will be handled differently to smaller clients. It could therefore be automated engagement at scale or human reviews of data and reminder triggers for less clients. Either way, understanding the signals that indicate risk that are specific to your industry, company and product is the way to go and combining them into a risk assessment.
Head of Corporate Development5 months ago
We do not have specific KPIs. We hold formal business reviews to cover key initiatives and customer specific performance objectives. The meeting ends with a conversation about the relationship and what it will take to continue the relationship . Director of Product Management in Software4 months ago
We consider the following indicators:- a qualitative assessment of the relationship with the client and an evaluation of how much the service/solution provided is strategic within the client organization;
- the usage of our services (volumes, number of transactions, etc.) as an indicator of appreciation and value delivered;
- the number of change requests required on the software solutions that we deliver, as a measure of the will to invest on it.
VP of Marketing in Telecommunication4 months ago
Number of support ticketsNumber of visits to documentation pages
Number of visits to public website resources
Open/Read rate on newsletter & nurture campaign emails
Another KPI we would monitor closely is our NPS. If we notice a client moving between categories, such as from a promoter to a passive or detractor, it would certainly catch our attention.
Furthermore, we would also pay attention to the client's overall engagement. If they're not interacting with the content we send them, not responding to our surveys, or not communicating with our service teams, it might suggest a lack of interest or satisfaction.
So, in essence, we use a mix of qualitative and quantitative KPIs to assess a client's likelihood to renew or leave.