If you want higher retention, renewal and growth rates, then you need key performance indicators that provide deeper, predictive insights throughout your customer’s lifecycle.
The principle “what gets measured gets managed” dictates that by simply examining an activity, you can get a handle on it and find ways to improve it. However, not all metrics are created equal—meaning not all things that can be measured will give you the ability to proactively take action in a timely manner. Case in point: If you measure the effectiveness of your customer success and recurring revenue growth programs based only on retention, churn, renewal or attrition rates, then you have a problem. These are very important metrics, and they are definitely key to your business. The problem is that these metrics can only tell you if you have a problem, which you often discover only after it is too late to affect real change.
This white paper will help you understand the 15 essential key performance indicators (KPIs) that you must measure in order to fully understand the impact of your revenue lifecycle management programs.