Selecting the Right Factors for Your Customer Health Scorecard
Build an effective customer health scorecard with these 10 factors.
Which Factors to Include in Your Customer Health Scorecard
A comprehensive customer health scorecard includes various factors based on industry, business model, and customer base.
Which should you include?
Here are 10 factors to consider including in your customer health scorecard:
User Engagement Metrics: Analyze how frequently customers engage with your product, including logins, feature usage, and session duration.
Product Utilization: Assess the extent to which customers explore and utilize various features within your product.
Renewals: Track the total number of contract renewals by customers.
Account Growth: Count the instances where customers upgrade to higher-tier plans or add additional products/services.
Length of Relationship: Measure how long customers have been engaged with your product or service.
Relationship Strength: Assess the strength and quality of the overall relationship with the customer.
Product Performance Metrics: Monitor product-related metrics such as load times, uptime, and error rates.
Support Need: Evaluate the frequency and complexity of support requests or tickets raised by customers.
Survey Results: Incorporate data from customer surveys, such as CSAT and NPS scores.
Billing History: Review the customer's payment history, including the timeliness of payments and any outstanding invoices.
Is There an Ideal Number of Factors to Include?
There’s no perfect number of factors to include as it depends on your company’s specific needs. However, it’s recommended to minimize the number of manual inputs and opt for automated calculations so that the scores are as objective and data-driven as possible.
By regularly assessing the metrics, you can continuously adjust the customer health scorecard to fit the needs of the business.
❓Which customer health scorecard factors are most important for you? Comment below or reach out to me.