If you're trying to figure out where to start with customer retention analysis, we recommend asking your executive team to develop a customer health scorecard, quantifying elements they think are appropriate for analysis and probability to renew and or up-sell to. In the long term, these parameters on this scorecard can be derived through data science, but short-term, intuition about customer retention analysis is a good place to start.
Here are example attributes for a healthy customer to consider for analysis:
Executive relationship: What is the status of the relationship between your team and the client key sponsor?
Usage frequency: What is the frequency the client is utilizing your product or service?
Key feature usage: What key / differentiated features is the client utilizing?
Training: What level of training or competency does the client have around your product or service?
Support: How have the experiences with the client been with your support organization?
NPS: Is your customer providing positive feedback on your Net Promoter surveys?
Billing: Is your customer paying invoices in a timely fashion?
Reference: Is your customer acting as a reference, privately and publicly?
Get Gainsight to help with these questions and deliver actionable insights from your analysis.