Hello World in WebAssembly

Article URL: https://duan.ca/2017/12/30/hello-world-in-webassembly/

Comments URL: https://news.ycombinator.com/item?id=16039266

Points: 1

# Comments: 0

Advertisements

What Are The Best Customer Success KPIs?

As you can probably imagine, I’m asked all the time what the best Customer Success KPIs are.

What metrics should you use to know if your Customer Success initiative is working.

Here’s the deal. I’m not an analyst… I’m a consultant.

Companies hire me to help them rapidly acquire good-fit customers, keep those customers longer, get them to buy more over that extended lifetime, and get those customers to advocate for them, too.

That’s called Customer Success-driven Growth.

The reality is, though, that every company is at a different stage as a company, with their Customer Success initiative, etc. so wha the “best” metric for one company at one point may not be the best metric for another company (or even the same company) at a different time.

Let’s dig into this, but first I have to address something serious…

Customer Success is NOT a Metric

Recently I saw an article that referred to “Customer Success” as a metric.

Umm… Customer Success is NOT a metric.

For the person who wrote that,… wow… what a fantastic way to diminish the true value of Customer Success. Not sure what they’re trying to do, but that’s garbage.

I really hope this new positioning doesn’t catch on, but it might; a lot of people seem to want to diminish the value of this incredibly important business function.

But I digress.

I look at Customer Success first as an Operating Philosophy… and when operationalized through Customer Success Management, this philosophy becomes a powerful Growth Engine.

If you want a way to ensure you acquire the best customers, keep them longer, have them buy more over that extended lifetime, and to bring in other customers through advocacy – aka Exponential Growth – you cannot look at Customer Success simply as a metric.

Metrics are very important – as I’ll cover below –  but they are just the things you look to ensure Customer Success – and your other valuable business initiatives – are working.

So let’s talk about…

Reality-based Key Performance Indicators

You need to start by determining the Performance upon which you are looking for Key Indicators.

When looking for KPIs to focus on, I take the company’s goals – sometimes even short-term goals, like cash flow or churn – and operationalize around those.

I covered this in a TON of detail in my post on Customer Success Goals: Cohorts, Metrics, and Prioritization.

The reality on the ground often precludes you from focusing on “best practices” and rather on what’s most important now.

But when pressed for the most important Customer Success KPIs are, here’s what I say.

Customer Success KPI Best Practices

In a perfect world, there must be a financial metric, but to ensure we don’t fall into the Account Management trap, that metric should be sanity checked by a customer-centric metric.

That customer-centric metric should be Health Score, Success Vector, Ontrack, etc.

The financial metric should be Net Revenue Retention or NRR.

NRR is simple (in theory).

If you start a month off at $1k in revenue from existing customers, end the month at $1.5k from those customers, you had an NRR of 150%.

But it’s “net” of any revenue you lost in that month when customers left or stayed but paid less for the privilege (discounts, down-sells, etc.).

And it’s “net” of any revenue you gained through up- or cross-sells.

> 100% NRR and you could turn off new customer acquisition and not just continue to exist, but grow. In theory.

< 100% NRR and your company is shrinking. In reality.

The former is preferable.

The post What Are The Best Customer Success KPIs? appeared first on Customer Success-driven Growth.

What Are The Best Customer Success KPIs?

As you can probably imagine, I’m asked all the time what the best Customer Success KPIs are.

What metrics should you use to know if your Customer Success initiative is working.

Here’s the deal. I’m not an analyst… I’m a consultant.

Companies hire me to help them rapidly acquire good-fit customers, keep those customers longer, get them to buy more over that extended lifetime, and get those customers to advocate for them, too.

That’s called Customer Success-driven Growth.

The reality is, though, that every company is at a different stage as a company, with their Customer Success initiative, etc. so wha the “best” metric for one company at one point may not be the best metric for another company (or even the same company) at a different time.

Let’s dig into this, but first I have to address something serious…

Customer Success is NOT a Metric

Recently I saw an article that referred to “Customer Success” as a metric.

Umm… Customer Success is NOT a metric.

For the person who wrote that,… wow… what a fantastic way to diminish the true value of Customer Success. Not sure what they’re trying to do, but that’s garbage.

I really hope this new positioning doesn’t catch on, but it might; a lot of people seem to want to diminish the value of this incredibly important business function.

But I digress.

I look at Customer Success first as an Operating Philosophy… and when operationalized through Customer Success Management, this philosophy becomes a powerful Growth Engine.

If you want a way to ensure you acquire the best customers, keep them longer, have them buy more over that extended lifetime, and to bring in other customers through advocacy – aka Exponential Growth – you cannot look at Customer Success simply as a metric.

Metrics are very important – as I’ll cover below –  but they are just the things you look to ensure Customer Success – and your other valuable business initiatives – are working.

So let’s talk about…

Reality-based Key Performance Indicators

You need to start by determining the Performance upon which you are looking for Key Indicators.

When looking for KPIs to focus on, I take the company’s goals – sometimes even short-term goals, like cash flow or churn – and operationalize around those.

I covered this in a TON of detail in my post on Customer Success Goals: Cohorts, Metrics, and Prioritization.

The reality on the ground often precludes you from focusing on “best practices” and rather on what’s most important now.

But when pressed for the most important Customer Success KPIs are, here’s what I say.

Customer Success KPI Best Practices

In a perfect world, there must be a financial metric, but to ensure we don’t fall into the Account Management trap, that metric should be sanity checked by a customer-centric metric.

That customer-centric metric should be Health Score, Success Vector, Ontrack, etc.

The financial metric should be Net Revenue Retention or NRR.

NRR is simple (in theory).

If you start a month off at $1k in revenue from existing customers, end the month at $1.5k from those customers, you had an NRR of 150%.

But it’s “net” of any revenue you lost in that month when customers left or stayed but paid less for the privilege (discounts, down-sells, etc.).

And it’s “net” of any revenue you gained through up- or cross-sells.

> 100% NRR and you could turn off new customer acquisition and not just continue to exist, but grow. In theory.

< 100% NRR and your company is shrinking. In reality.

The former is preferable.

The post What Are The Best Customer Success KPIs? appeared first on Customer Success-driven Growth.

(POLL) Did Your Small Business Have a Good 2017?

The end of the calendar year is upon us once again. It’s time to assess how your small business is doing and in this week’s poll question, we want to check the pulse of our community.

This surely has been an interesting year for small businesses in the U.S. A new President was inaugurated who promises big changes for the business environment in the country. And certainly, a lot of small businesses are anticipating a cut in their taxes. And many are already seeing regulations slashed at the federal level, but perhaps not at the state and local level.

Consumer confidence is up, too. And that has retail businesses chomping at the bit to see a revival in sales. A record holiday shopping season surely helped a lot of small businesses in the last few weeks.

So, again, this week, we want to know how 2017 treated your small business. Was it better than last year or worse? Did sales go up or down? Have you added staff or were you forced to cut help to trim your spending?

Answer the poll question below and let us know.

Note: There is a poll embedded within this post, please visit the site to participate in this post’s poll.

Photo via Shutterstock

This article, “(POLL) Did Your Small Business Have a Good 2017?” was first published on Small Business Trends

Google retires the Pixel C tablet, as it shifts focus to the Pixelbook

Article URL: https://techcrunch.com/2017/12/28/google-retires-the-pixel-c-tablet-as-it-shifts-focus-to-the-pixelbook/

Comments URL: https://news.ycombinator.com/item?id=16025893

Points: 6

# Comments: 1


hnrss is a labor of love, but if the project has made your job

or hobby project easier and you want to show some gratitude, <a

href=”https://donate.hnrss.org/”>donations are very much

appreciated. PayPal and Bitcoin both accepted. Thanks!

You Can’t Solve Upstream Problems Down Stream

When it comes to Customer Success, I’ve seen a lot of things.

I’ve seen what works (and what works REALLY works… it’s amazing).

Unfortunately, I’ve also seen what doesn’t work. A lot.

In 2017 I heard “Customer Success doesn’t work” way more than I ever expected.

The main reason I saw for Customer Success “not working” wasn’t org structure, comp plans, operations, wrong CSMs, etc.

No, the main problem wasn’t a CSM Org problem at all.

It actually starts further upstream.

You Can’t Solve Upstream Problems Down Stream

The biggest contributor to churn is the acquisition of bad-fit customers.

The biggest drag on growth I see is trying to make bad-fit customers successful.

A huge drag on per unit margin is investing resources in bad-fit customers.

Bad-fit customers are those customers that lack Success Potential.

But this is…

Not a Customer Success Issue

This is a company issue.

This is a growth velocity issue.

This is a Customer Lifetime Value issue.

This is a CAC efficiency issue.

This is a company valuation issue.

This is a CRITICAL issue.

This is all about..

Downstream Failure

When a company knowingly acquires bad-fit customers – customers without Success Potential – they set up everyone downstream for failure.

Yes, Customer Success Management is setup for failure.

But let’s get real… nobody cares about that (yet).

(un)Luckily, there’s more.

Onboarding, training, pro services, support… anyone else that works directly with customers is also setup for failure.

But so is product, marketing, and… sales.

Bad-fit customers can wrongly influence direction (since what we’re doing “isn’t working”), but there’s something else.

But it’s a cycle as…

Downstream Failure Creates Upstream Problems

Those customers that churn out (or otherwise stop doing business with you) create negative market sentiment and this makes it harder for the next sale to happen.

So it actually hurts sales.

Oh, and you’re setting your customers up for failure.

Stop knowingly acquiring bad-fit customers.

It won’t end well for ANYONE.

The post You Can’t Solve Upstream Problems Down Stream appeared first on Customer Success-driven Growth.