The value of advanced analytics combined with customer success data isn’t just limited to the Customer Success team, but can also be extremely valuable to the entire SaaS organization. It helps businesses identify where improvements can be made in their product and in their marketing.
Capturing and analyzing detailed product usage to understand how customers use a product is not new. There are several analytics solutions that show product teams how frequently individual features are used, as well as let them apply analytic tools like cohorts for tracking stickiness or funnels to see how easily users complete tasks.
Natero's CSM solution incorporates these advanced customer analytics and delivers much more valuable insight than basic analytics tools because they are not limited to product usage data. Rather than simply viewing which features are used most frequently, for example, you can understand feature usage by different customer segments (e.g. by industry, stage, size, geography).
Even more interestingly, you can compare and analyze behavioral differences between successful customers (e.g. those with a high health score) and accounts who are at risk of churning. You might discover that certain features used mainly by successful customers provide more value, and can then initiate campaigns to drive usage of those features by other customers.
By understanding the profile of successful customers, marketing teams can target more of them. Focusing acquisition programs on customers who are more likely to succeed with your solution can accelerate the growth of your company. Customer Analytics can also help to understand the factors that affect success within different segments, allowing the marketing team to create campaigns and product messaging that more directly targets customer pain points.
Customer Analytics also provides Customer Success teams with the data they need to inform product managers, marketers, and management as to what’s working, what’s not working, and what needs improvement. Critical feedback no longer has to be based on anecdotal evidence – indisputable data accelerates the improvement process from conversation to action.