How Should You Measure Customer Success?
The mission of Customer Success is to increase sustainable proven value for both the customers and the company. Therefore the prime KPI for a customer success group is the value they have brought to the customers and to the company — measured ultimately in money. For the customers, a key factor is the individual customer success plans your team has developed with them, and the progress that has been made towards those goals. It’s vital that the customer acknowledge and agree that such progress has been made — that’s the purpose of the regular Customer Value Reviews that your team does with them.
There are a whole host of metrics that can be and often are applied to the work of a Customer Success team — CSAT, NPS, revenue and logo retention, numbers of customer meetings, recruitment of references and customer advocates —- and they have their uses. But the prime metric is increase in sustainable proven value.
Here is the link to a Customer Success Library article, Customer Success Metrics That Matter. The article also includes a downloadable spreadsheet. (To access the spreadsheet, you’ll need to be logged in as at least an Associate/free member of the Customer Success Association.)