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Ways to Improve Customer Success Productivity
Optimize For CS Work
One of the easiest ways to make your Customer Success team more productive is to invest in tools and processes that fit their daily work.
Automate repeatable tasks so that your Customer Success team can spend less time on repeatable work and focus impactful opportunities.
Invest in a CSP
While there are many tools to optimize productivity, a Customer Success Platform will enable your team to their very best work.
Frequently Asked Questions
How can I improve Customer Success productivity?
Customer Success teams use Net Renewal Rate (NRR) to gain a greater overall picture of revenue health of their Customer Success organization. In order to calculate NRR, you will first need to indicate a time frame to measure. From there, record what your forecasted renewal-based revenue, as well as how much renewal and expansion revenue has been secured.
To calculate your organization’s NRR:
(Renewal Revenue + Expansion Revenue)/Forecasted Renewal Revenue
Once you have that number, multiply it by 100 to determine your Net Renewal Rate.
An NRR of 100% indicates that you’re breaking even between renewals and expansions, while anything below 100% indicates losses in revenue.
How do I measure Churn Rate?
Your Churn Rate is the measurement to determine the percentage of customers that are leaving your book of business. The percentage of Churn Rate is also the inverse of your Retention Rate, so you can easily determine both metrics from a single calculation.
To measure your Churn Rate, you will need to know how many customers you had at the start and end of a given time period. Once you do, use the following formula to calculate churn:
(Total Starting Customers-Total Ending Customers)/Total Starting Customers
Once you have that number, multiply it by 100 to determine your Churn Rate.
For a B2B SaaS company, a monthly churn rate of 2% or less is considered good. Annualy, you should be strive to keep your Churn Rate below 7%.
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