The Best of Customer Success Issue #1

Best of Customer Success Issue1

Welcome the inaugural issue of The Best of Customer Success. These periodic posts pull together the best customer success articles we discover during the week, summarizes key points, and provides you with a link to the author so you can add them to your reader feed. The article links are at the bottom of this post.

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Customer Retention Cost (CRC) Ratio

Customer Retention Cost

In our recently published Customer Success Metrics That Matter eBook, we noted that certain strategic metrics are a must have. Customer Acquisition Cost (CAC), Customer Lifetime Value (CLV) and Churn Rate jump out immediately. Another metric to consider is your Customer Retention Cost (CRC) Ratio. This metric helps you isolate a large share of the costs involved in Customer Success, and link it to renewal revenue. Essentially, CAC accounts for the sales and marketing side of the house, while your retention cost accounts for what happens after the sale.

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What Causes Customer Churn? [poll and stats]

What Causes ChurnSo, why did your customer churn? Did they stumble during on-boarding? Did it take you too long to field their support tickets? Is your product too buggy? Or were they just not a good fit for your product to begin with?

As you map your customer journey and begin to identify gaps in how you manage the customer lifecycle, we thought you might find it helpful to hear from the larger customer success community as to what they believe to be the leading causes of churn. And perhaps you’ll be able to better formulate a hypothesis for how you should prioritize driving improvements in your customer success strategy and processes.

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