Calculate this Customer service kpi by dividing the total time customers wait in call queues by the total number of customer calls answered.
How do you measure customer stickiness
Stickiness is equal to the ratio of daily active users (DAUs) to monthly active users (MAUs).
For example, if you have 2,500 daily active users and 5,000 monthly active users, your stickiness rate is 0.5 or 50%.
How is satisfaction measured
A customer satisfaction score is calculated by dividing the total of positive responses (very and somewhat satisfied) by the total number of responses, multiplied by 100 to give us a percentage.
The CSAT score is the most intuitive indicator of customer satisfaction.
What is a KPI for revenue growth
Revenue Growth is a KPI used to measure how sales are increasing or decreasing over time.
It is calculated by dividing revenue generated during one time period by the revenue generated during a subsequent time period, subtracting 1, and then multiplying by 100 to obtain a percentage.
How Retention is measured
Retention rate is often calculated on an annual basis, dividing the number of employees with one year or more of service by the number of staff in those positions one year ago.
What is a realistic retention rate
A 100% retention rate is always good. Meanwhile, a 15% retention rate is usually bad.
What is churn analysis
Churn analytics is the process of measuring the rate at which customers quit the product, site, or service.
It answers the questions “Are we losing customers?” and “If so, how?” to allow teams to take action.
Lower churn rates lead to happier customers, larger margins, and higher profits.
What KPI LTV
LTV measures the revenue your business makes from any given customer. It is an estimate of the average gross revenue that a customer will generate before they churn.
How do I do a churn analysis in Excel?
- Identify and prepare the data
- Create appropriate churn flags
- Insert a pivot table and create Churn Rate calculation using a calculated field
- Break Churn Rate down by categorical attribues to find variables that correlate with churn
What is the best churn rate
Ideally, a churn rate of zero would be the best churn rate, as that would indicate a business is not losing any subscribers; however, that is never the reality.
A business will always lose subscribers for one reason or another.
What is an example of a KPI
This is a useful touchstone whenever you’re considering whether a metric should be a key performance indicator.
SMART KPI examples are KPIs such as “revenue per region per month” or “new customers per quarter”.
Why churn is a big deal
Churn leads to higher CAC & reduced revenue In fact, acquiring new customers is considerably more expensive than maintaining and upgrading existing customer relationships.
The more customers you churn, the more money you must spend to recoup the loss of business by finding new ones.
References
https://www.shopify.com/blog/loyalty-program
https://tallyfy.com/customer-lifecycle/
https://userpilot.com/blog/customer-loyalty-analytics/
https://sendpulse.com/support/glossary/brand-affinity
https://smallbiztrends.com/2016/09/how-to-identify-a-loyal-customer.html
