Gainsight, the leading Customer Success Management solution, today announced Scorecards, a new Gainsight feature that uses advanced data analytics to combine objective elements such as product usage and customer survey scores, with subjective elements – such as executive relationships and reference-ability – to deliver a holistic health score for each customer account. In today’s $500 billion Subscription Economy, where the balance has shifted from customer acquisition to customer retention, companies are forced to take a serious look at maximizing revenue from existing customers.
An industry first, Gainsight Scorecards use a data-driven methodology to take the mystery out of customer health and go beyond potential misleading assumptions. With simple and intuitive customization controls, Scorecards empower users to quickly identify the at-risk accounts from the healthy ones, standardize internal customer health reporting to their management team and board, benchmark customers by relative health score, and share a common view of customer health with their clients..
“Scorecards will now enable us to go beyond just evaluating discrete customer interactions on a case by case basis by automatically combining the overall impact of our Customer Success efforts into a single health score for a given customer,” said Bernie Kassar, vice president of Customer Success and Support, Xactly.“We’ll no longer have to rely on a purely subjective assessment of how our customers are doing.”
Customer Metrics Move Beyond Assumptions and Guesswork to Quantifiable Insights
Gainsight Scorecards allow companies to easily see customer account health at a glance with visual, color-coded scores and grades. Scorecards follow a consistent, data-driven methodology and are integrated with Gainsight’s robust rules engine to automatically generate alerts when a significant score change happens. Rankings leverage multiple data sources and assign weights based on importance and impact on customer health, taking the guesswork out of Customer Success scoring. Through the advanced workflow, users are able to proactively act on these alerts to get a customer back to health or drive the purchase of more products and services.
- Grading Scheme – Gainsight supports three schemes to score customers: numeric (0 to 100), character (e.g., A through F) and RYG (red/yellow/green). Users can choose whichever works best for their unique measurement needs.
- Group Metrics – Users can add as many subjective (e.g., executive relationship) and objective (e.g., aggregate user logins, survey scores) metrics as needed to create the right score, and group them together based on their type–relationship, product usage, customer segment, etc.
- Weights to Assign Importance – Assigning weights to each metric allows Gainsight to roll up the impact of individual scores into an overall customer health scorecard. This process helps users think about the relative importance of each metric.
- Customer Scoring – Both individual metric scores and overall customer health scores are available from within Gainsight’s Customer360, which provides an integrated view of customer health across product/service usage, contract information, support activity, billing history, survey responses, reference and engagement data and more. Users can also compare these scores across their customer base to see where customers stand overall, and on each individual metric.
“For years, credit reporting bureaus have leveraged various factors of a consumer’s financial history to generate credit scores as a means of evaluating potential risk,” said Nick Mehta, CEO of Gainsight. “With Gainsight Scorecards, subscription-based businesses can bring that same degree of transparency into their customer retention practice by scoring customers based on various data-driven factors, and managing against their individual risk of churn.”
Designed to make Customer Success Management an integral part of how the entire enterprise operates, Gainsight delivers a 360 degree view into the health and engagement of an organization’s customer base through existing data. Because Gainsight looks at all of the touchpoints in a customer relationship, not just individual attributes like product or feature usage or survey responses, users get a complete picture of each customer across the customer lifecycle.
Join Gainsight’s upcoming webinar, How do you measure Customer Success?, on November 14, 2013 at 11:00am PT. Sign up here: https://www.gainsight.com/events/how-do-you-measure-health-your-customers.
For more information:
- Learn more about the new Gainsight platform: https://www.gainsight.com/customer-success-products.
- Join Gainsight’s growing team: https://www.gainsight.com/careers.
Gainsight, the first and only complete Customer Success Management solution, helps businesses reduce churn, increase up-sell and drive Customer Success. The company’s SaaS suite integrates with Salesforce and uses Big Data analytics to evaluate sales data, usage logs, support tickets, surveys and other sources of customer intelligence. In this way, Gainsight provides a 360° view of customers and drives retention across Customer Success, sales, marketing, executive and product management. Learn how leading companies like Angie’s List, Castlight Health, Marketo and Informatica are using Gainsight to help their customers succeed at www.gainsight.com.
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Bhava Communications for Gainsight