Customer retention dashboard example

Customer retention dashboard example

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Who is a customer retention dashboard for?

Customer service team leaders and the wider team.

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Why is a customer retention dashboard useful?

Across different business models, customer service teams share one important goal--to deliver great customer experience in return for customer loyalty. Their activity impacts business revenue directly. By tracking the right metrics, customer service managers can help their teams focus on optimizing customer experience to ensure customer retention.

This dashboard illustrates how a SaaS customer support manager can use key customer retention metrics to gain an overview of threats and opportunities to prevent churn and improve customer loyalty.

If you are looking for a more generic customer success dashboard to focus your team, this customer service dashboard could be a good starting point.

How can a customer retention dashboard help you achieve your business goals?

Happy customers are customers whose issues have been dealt with efficiently. In order to keep them happy, there are a few obvious threats you need to keep an eye out for. Having an overview of potentially problematic areas will help you act proactively and adjust your strategy accordingly. For example:

Scenario 1: Have you seen an increase in enterprise customers submitting tickets on a daily basis?

Action: Dedicate more time to catering to their needs. Your agents could allocate time to proactively engage with them and identify issues before they become frustrated and may decide to leave.

Scenario 2: Is your ticket backlog increasing?

Action: Investigate whether this is due to your team being overwhelmed or your product becoming more complex. Either way, the longer those tickets stay unresolved, the more unhappy those customers will grow. If your team is working hard on fixing a technical issue, it may be worth letting your customers know. This way you’ll keep the ticket volume under control while making sure your customers stay happy.

When your customers start recommending your product, you know you’ve served them well. You are not only building strong relationships but also impacting customer acquisition costs (CAC) by fuelling word-of-mouth and that is infinitely cheaper and more valuable to your business in the long term. Tracking Customer Satisfaction Score (CSAT) and Net Promoter Score (NPS) will pinpoint exactly how well you’re doing at delighting your customers. If your customers are happy, they will definitely stick around longer.

Once this part of the journey is fulfilled, you can think about ways in which you can deliver extra value to your customer while making an impact to the company’s growth. In a SaaS business this translates into making sure your existing, loyal customers upgrade to higher value plans. It’s a win-win, really–they get more of your amazing product and customer service while your team contributes to your company’s sustainable growth. Given your team is the main customer touchpoint, monitoring the expansion MRR rate and net MRR churn rate will help you seize new business opportunities. For example:

Scenario 2: Is your net MRR churn rate at its lowest it’s been since the beginning of the year, but you’ve seen a decrease in expansion MRR rate?

Action: You’ve got an opportunity to use the good relationship you have forged with your customers and get a few more to upgrade. Once you’re at this stage, it’s way easier for customer success agents to engage existing customers to save revenue dollars to continue to grow the business.

If you’re an ecommerce business, you may want to track average order value and shopping cart abandonment rate instead to optimize your customer retention efforts.

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