Customer Success & KAM: Key Metrics to track for 2024
Episode 54 3:50 February 22, 2024
Customer Success & KAM: Key Metrics to track for 2024

In this Episode

Churn, Retention, Upsell and Cross-Sell all contribute to Net Revenue Retention (NRR), the North Star Metric for Customer Success and Key Account Management teams, and need to be tracked appropriately. Also consider measuring different metrics for customers in different phases of the journey – Onboarding, Adoption, Value Realization, Advocacy.


Shivani Chaturvedi:
So out of the range of metrics available for different teams maybe or for the organization to measure their growth what should be the ones that she CS team should focus on

Prithwi Dasgupta:
yeah so there’s quite a few you know and it largely depends Shivani on the philosophy at which you have structured this team on my recommendation and preference for most organizations would be that they start measuring ARR growth in existing account as the number one metric just not the only metric is number one metric once they start doing that you’re just measuring ARR growth in existing accounts your sort of renewal gets covered under that because it’s unlikely you will grow an account without you know renewal happening on existing business you are doing with that account so then that is the second metric that what now constitutes growth in an account it is renewal of existing business Plus whatever else I’m able to grow if it’s a single product it’s an upsell if you have multiple product lines to sell to then they’re cross sell strategy so now you are really breaking this up into retention revenue plus upsell revenue plus cross sell revenue at a very very basic level so that initial metric now gets broken down into three metrics which you need to track what is retention what is my trend on upsell what is my trend cross sell and that dives appropriate behavior across the organization so those are three and to do this you now need to you know do the standard stuff of driving adoption and you can you know sort of flow it down into other metrics what is the customer experience what is the NPS score what is my engagement level with the customer all of these becomes sort of supporting metrics which then eventually should lead to these three retention upsell and cross sell metrics to be trending upwards over time right the other way and the recommended way also is you mentioned phases is up front so if you were to break down and it’s not going to be a 10 phase or a 20 phase sort of scenario this is likely most organizations have three or four phases as a standard yeah so in each of these three four phases again onboarding you know the three top metrics you need to track so break it down you’re saying onboarding time onboarding cost and you know experience onboarding experience let’s say those are three metrics you need to track you go down into the next phase let’s say a little bit of a steady state phase and you’re saying I need to drive adoption and engagement there so let’s you measure you know what is the rate of adoption and you can choose different numerator denominator to be able to do that and and then what is my engagement level across the customer so you could now drive what type of engagement is it a one-on-one engagement it’s a value driven engagement is it a qbr is what is it so you could now break that down and also track what your engagement level is with the customer then obviously you go into the next phase of retention and expansion little bit so now you are then tracking actively now an account has spent let’s say 6 months 9 months 10 months one year with us now it is time for us to measure in this account what has been the upsell what has been the cross sell and stuff like that so now you move into that so when you can also look at breaking it up into the individual phases and because now there are different resources typically addressing different phases in this customer management space so makes it makes sense to measure you know different metrics across the different phases.

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Shivani Chaturvedi

Shivani is a talented CS manager with the skillsets to elicit, scope and manage end-to-end B2B SaaS project delivery. She has a keen interest in depicting her learnings in customer success by writing resourceful blogs and articles.

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Prithwi Dasgupta

Co-founder, SmartKarrot

Join Prithwi Dasgupta in his pursuit of Customer Success for All as he tracks the paths of trailblazers and unlocks founder insights. The Customer Success Intelligence Podcast is meant to spark conversation and ignite the CS community.

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