If you have been thinking about starting a business online or you have been running one for a number of years, then you might be wondering how you can gauge customer happiness and determine whether or not you need to make changes. Using customer success metrics not only gives you better insight into your company as a whole, but it also shows you how you can improve client relationships and decrease your turnover rate.
Here are some metrics that are especially useful when it comes to online businesses.
Adoption metrics
One of the first indications of whether or not your product is performing well is if your customers have chosen to use it. You should have a dashboard available that can help you see when your customers have logged in, what actions they have taken on it, and how often they choose to return. If you don’t have these metrics available, then you might have your customers fill out a survey so they can give you a general idea of whether or not they have used your service or product.
Outcome metrics
Your outcome metrics are going to be essential when keeping customers around. Because every customer eventually wants results, this can mean that if they don’t see changes then they might find themselves looking to the competition. In order to mitigate the chances of this, you should consider offering a feedback session to help you determine whether they need more advice to use your products properly or if you need to change your onboarding process. Take a moment to ask some questions and get to know where you need to improve.
Email click-through
Email can be a great indicator of whether or not you are properly reaching your customers and filling their needs. Your email stats are going to be your best friend when it comes to seeing if your clients are looking for your advice on a specific topic and your product. Make sure to check your click-through rates as well as your open rates. This can give you an extra boost in traffic and help you to identify which topics surrounding your product or service you need to give more attention to through content.
Also Read: Benefits of Email Marketing
Customer retention rate
Finally, the biggest indication that you are working well with your clients is whether or not they choose to stay with you. While some might leave when they no longer need your product or service or they might not have the budget anymore, others might be unhappy with the experience you provided. If you are seeing a high turnover rate, this shows that you are not doing what is necessary in order to keep your customers invested in what you have to offer. You’ll need to make some changes within your company in order to keep them happy.
In summary
Metrics are essential to understanding your business and how you can improve when it comes to keeping customers engaged in your product or service. Make sure to review them often in order to make the changes you need to have a successful business online.