Mon, 10 January 2022
Startup Customer Success Metrics
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Once you have customers, the next step is to measure their success with your product.
Here are some key metrics to use:
Net Promoter Score - also referred to as NPS, this metric measures how loyal the customers are to the company.
The metric asks the customer to rate the company on a scale from 1 to 10 about their experience with the product.
A score of 1 to 6 is considered a net detractors score.
7 and 8 are considered passive, while 9 and 10 are considered promoters.
The resulting metric from all customers surveyed ranges from -100 to 100.
A score from 0 to 49 is considered good.
50 to 70 is excellent, and 70+ is top tier.
Other metrics to include are customer churn which is the percentage of customers you lose over a period of time.
Revenue churn is the percentage of customer revenue you lose.
Customer retention rate is the percentage of customers retained.
This can be applied to a cohort of customers.
For more episodes from Investor Connect, please visit the site at: http://investorconnect.org
Check out our other podcasts here: https://investorconnect.org/
For Feedback please contact firstname.lastname@example.org
Please follow, share, and leave a review.
Music courtesy of Bensound.
Direct download: Startup_customer_success_metrics.mp3
Category:general -- posted at: 6:00am CDT