The Most Important Experience Metrics You're (Probably) Not Measuring
10 Aug 2020 · 39 min
Ian and Kerry T. Self discuss which metrics actually matter in B2B account experience programs. They focus on NPS, first contact rate, revenue linkage, and coverage, arguing that tying experience metrics to revenue growth is what separates effective programs from the rest.
Listen, the goal is not to improve your NPS score. If you are starting a program and your mission is to improve your NPS score, you missed it. Your real mission is to improve your business, to improve your revenue, your growth.
Hello, everyone, and welcome back to another episode of the Account Experience podcast. In today's episode, we're going to cover the most important experience metrics you're probably not measuring that will not only change the way your program is run, but set you up for more revenue growth in the process. So what are they? You'll have to tune in and find out. Let's get to it. Hello everybody, and welcome back to another episode. I'm here as always with my co host, Cary T. Self. Say hello, Carrie.
Hello everybody.
So today, guys, we're gonna get into metrics. And I know what everybody's thinking. Numbers, metrics, run away. But I think why we want to have this episode is because there's a lot of, I think, confusion and what the main metrics of your account experience program should be or your experience program in general. And I'm here to clarify some of that for you all. And the first one we want to tackle is no shock or surprise to anybody on the call here, nps. So, Kerry, is NPS a metric that companies should track? Is there something else they should be looking at? Give us the lowdown.
Well, first off, let me say this. I think NPS is still the future. I think it's still a great metrics to track. And if you're using NPS as a single standalone score, I think you're missing some things here. If you're using it as a system and Net promoter system, then I think you're onto something. I think too many people look at that change in their NPS score and they think they're doing a great job or a bad job. And there's so much data behind that. So to answer your question, yes, NPS is still a great metric to track, but I would like to or what we really focus on is those metrics behind that. And I think this is a great way to kind of dive into drivers. You know, what is that second question after you ask the recommend question? You know, we use a series of cascading or drop down options. After we ask the question, we make it very easy to click. It's a recommendation that we use because it speeds the process up, helps out. But the drivers is where I would say is probably one of the key metrics when you're looking at a Net promoter system.
So let's break that down, because I think a lot of people listening to this, we talk about drivers often, but I don't think we ever really explained it that well. So just for everybody listening, a driver is essentially the second question after the NPS question. Right. And you say, no, thank you for selecting a 10. You're a promoter. Fantastic. What was it specifically about your interaction with our brand that made you give us that score? And these adjust. These drivers adjust whether you're a promoter, pass or detractor, the kind of the drivers change. But essentially what happens is you get presented with like four or five options, and they're single words. Right. Like support products, account or account executive, whatever it is. And if you select, let's say support and then drops down and shows like four or five other a little bit more detailed options, like the CSM was extremely cordial in helping me solve my problem or what else, Carrie? Like this. The process was super easy.
Help me out the solution to why I called. Maybe the timing, the response was quick, or whatever it might be.
Yeah. And so the user can actually jump in quickly, just check off one of the main level drivers and one of the first four you presented, and then it drops down into a couple other ones they can quickly check as well. So you're not having them write out a big, long paragraph of why they gave us that score. And. And we're having to run analytics in the back end, which causes both parties pain and suffering. If I'm being completely honest, these drivers are a great way to kind of circumvent that whole process, get to the root cause. 98% of the time we've run studies, we've done data on this. It's 98% of the time you can get to it without text analytics, without manual analysis. So that's what we mean when we say drivers. I just wanted to kind of frame that for everybody. So, kicking it back over to Kerry. Why are drivers, I would almost say, more important than your NPS score?
Yeah, I agree with you 100%. So in Ian's explanation of when you click on that, it's automatically assigning that driver to your score. So you're starting to create these buckets. My promoters click these drivers, and these are important to them. People that are passive or even a detractor. Someone who's upset with us said these are the reasons why they were. So now what we start to do is to get a really quick and fast picture of who our customers or what our customers value in that relationship. So, you know, if we have a Bunch of promoters, we can very quickly see this is what they value. This is why they're with us. This is why they're driving their business to us. On the flip side, it gives us some areas to take action on very quickly. You know, when we talk about all the other aspects of why you do a survey and why you get feedback, you should be closing the loop, right? That account manager should be reaching out pretty quickly and close the loop in the moment. But when you start to bring this up to the next level of management and executive level, you need a strategic way to look at this quickly. And you're right. If I asked 20 different questions on 20 different areas, I would have to analyze every question and weigh them against one one another. This is a very fast way of saying, look, of our detractors, this group here says that this is the thing that's the biggest pain point for them right now. This is where we need to focus our attention on. This is what we need to dive into.
And I think the beauty of the drivers, too, is that they're simple. They literally accomplish, like you said, they shorten that manual cycle for all of that stuff. But the real magic happens in an account experience program when you basically combine these drivers with other metrics, which like revenue, for example. We talk about tying your program to revenue. It's unbelievable what can happen when you tie these simple drivers to revenue in real time. And you can start to look at your entire account base through the lens of, you know, this driver is contributing, you know, to 80% of our revenue. So walk me through what that looks like on your end as the program developer at cg.
So, Ian, it's a great point because, you know, money talks, right? We constantly going back to that. And we would be idiots if we didn't talk about revenue in metrics, right? Because it should be. But the power of tying the revenue to the actual drivers is this. And it's simple. How many times have we opened up a platform for one of our customers or ourselves? And we might see a lot of people clicking on one driver, and immediately we think that's where we should be investing our time and money. But then we open up the revenue and say, but wait a minute, where is our money? The people that are bigger customers are bigger spenders, let's say, what are they clicking on? What is a pain point for them? And we sometimes see very drastically different drivers being selected in that. So immediately you can open up a report and say, look, I have this much of my revenue tied to this specific driver. And it really helps rally the team and know the right resource to use to that. You can link departments to drivers. I mean, we talked about this before, but these different drivers are owned by different departments, but they can now be immediately pulled into that. Know where to spend my time, where to put my efforts, changes. You know, we talk about performance over time. This is not done in a vacuum or a snapshot. But live in the moment as people are clicking on these drivers and you're making changes to your program, you can see in real time if those changes in that investment is having an effect on it.
Yeah, and I think the, the phrase that keeps coming to mind is every account holds value, but not every account holds the same value, or every account is valuable. Not every account holds the same value. And it's, it's unbelievable. And when you look at drivers and you combine them with revenue. So before, if you didn't have that revenue lens, right. If you're just looking at your drivers from the program standpoint, with or without cg. Right. Again, so if you're manually running these on the back end, you would still look at them and, you know, you'd be shocked by how many times it can kind of mislead you. If I'm being completely upfront about it, where you look at your promoter scores by driver, you're like, great, wow. 80% of the people that like us think that we have great support. Fantastic. We're good on support. But then if you combine it with revenue, that might be only like 10% of your revenue. And then the other 90% of your revenue are maybe liking a different driver. It's crazy what can happen when you add that revenue layer on top of drivers. And I think we talk about making revenue centric decisions that are going to allow your company to grow faster. That's a pretty damn good way to do it. And that's not even that much effort, to be honest. You just basically get the drivers and you combine them with revenue and then you look at it through that kind of segmentation model, and that's a pretty easy win for most companies. Like, again, with or without cg, just start doing it. I mean, it's crazy what you can see. And it's often surprising for companies, especially our customers, when they first get on board. There's a lot of revelations like, wow, you know, we were investing a ton of time in this specific area of drivers. And you know, that's not actually, it's not actually being a major source of revenue for us. So they shift strategies and that's a powerful thing, for sure.
Well, you mentioned the word segment. And the other thing we can do with drivers, too, is look at where, where those drivers are coming from, what segment of those accounts. Is it the frontline users that are driving that feedback, then maybe it's something as simple as a feature turning something on or off for them or a little bit of education versus is it your champion who's owning the program and trying to get executive sponsorship? I think that completely changes the dynamic in the solution you provide. So I think that also adds a lot.
It does. I agree. And it goes back to that. I think our first episode is getting the C suite involved. Right. Again, you want to get them on board, you got to align with revenue because that's at the end of the day. And this is very well documented, guys. You can look into studies that Bain have done. The CEO's priorities year over year is revenue growth and strategic positioning for the most part. So they're going to care about revenue growth over pretty much anything else. Or competitive advantage, which, again, if you're doing experience right, you should have a competitive advantage over your competitors if you are investing in this type of thing. So drivers very, very important for a program, not necessarily nps. Right. I mean, that's interesting because most companies do default to that. Let's track the score because it's an easy, simple metric that people can rally around, which is true. So how do you. Do you have any, like, quick hit tips, Carrie, on how you can manage those two things? Like, you were a champion Arius back in the day. So how do you actually manage the driver piece with the Net promoter score piece?
I think the score itself is the grabber. It's the attention grabber. If you can show a change or you can show a number compared to where you were a year ago, at least that'll grab their attention. I think it's simple. You use the word simple and it is. It's simple enough to. That anyone can really look at it and say, all right, we've improved or we haven't. I think the dynamic nature of NPS comes from what you do after that. It's that driver. So, look, you're doing better, or, you know what, Our score dropped. Is that a bad thing? Not necessarily. You know, we made some changes in the organization. We're reaching out to a different group. We've got better response now from some of our. From some of our customers. So maybe that changes the score and that's where the conversation begins, where you start to get to that Root cause. And now you're starting to talk to the people that are strategically working on improving the business. Listen, the goal is not to improve your NPS score. If you are starting a program and your mission is to improve your NPS score, you missed it. Your real mission is to improve your business, to improve your revenue and your growth. That's why you start any kind of program. Then the NPS will be your doorway to the drivers that will do that for you. So NPS is nice. Everyone gets it. It's a way to get everyone aligned. But when you start talking about making strategic decisions to better your business and grow, you gotta focus on the drivers. And I think that's where it starts to get traction. So you lead with drivers, you talk about drivers when you have your committee meetings. That's what you put up on the board. You just stop talking about the NPS score at that point.
Yeah, and that's such a good point where, oh, man, it's like the perfect cold open carry. You can't just focus on nps. It's not really about that. You want to improve your business. You want to drive revenue from your experience program. That's ultimately what you should be looking at, is your drivers. That's actually the first line. And improving it, it's not necessarily the score doesn't tell you anything, Right? It just tells you kind of like a point in time. This is how your program's operating or how your, your customer base is, you know, feeling about your business. But you want to improve. Right? That's the goal of these programs. And drivers are where it's at 100%. Whether they're manually calculated, wouldn't recommend it. But whether they're manually calculated or, you know, as we mentioned, the actual automated drivers from cg. So next step down the line, right? We get this feedback in. We have these drivers. What's the next metric, Carrie, that businesses should focus on to improve their experience program? Would you say it's probably something along the lines of first contact rate from. Okay, yeah, why don't you go for it?
Definitely. You know, and I say this all the time. I talk about, don't ask a question if you're not going to do something about it. You know, if you're reaching out to your clients, to your customers, and they're giving you feedback, getting back to them is so important. And I think based on the type of feedback. So we talked about detractors, people that score you lower or were less than happy with you, they're not as satisfied. This group is an important group, especially if you can look at the revenue attached to them. On top of that, now you can really prioritize who you get back to really fast. Listen, you should treat every client like you only have one client. That's a great philosophy, but the reality is, even in that with limited resources and limited workforce nowadays, you have to prioritize. And I think one of the key things that people really get hung up on is, is that when someone gives you feedback and you're a detractor, the thought process is, I have to fix that immediately. And it puts your front line, it puts your account ownership in a really tough position because sometimes they can't provide that solution in a couple of hours or in 24 hours. The reality is sometimes it's much bigger than them or their team. And this is where management and executive sponsorship really needs to get involved and own that. But what they can do is definitely reach out and contact that client quickly. You know, and you know, I know this sounds crazy, but that, that first contact is usually a metric that tells you a lot more than how fast you close out or how many cases you've closed out. You know, oh, we have a close the loop rate of 36 hours. That's phenomenal. Is it? But how long are you waiting to contact that person who's upset in the moment? And when you start talking about first contact and being able to reach out to someone who's got a problem in the moment, you see those companies excel and grow and have much higher retention rates than companies who wait to have the perfect solution in place.
I love that. And let's just think about it from a normal, everyday standpoint, right? You give feedback to a company, you're angry about something that happened. Could you imagine what would happen or how you would feel about that company if they followed up with you within 30 minutes? I mean, I get it. It's hard for a lot of companies that are sizable, but at the same time, if you make it a priority, as soon as that feedback comes in, it takes what, 10 minutes to kick off an email or give a call? Sure, these might go into longer engagements, but to your point, that first point of contact, even if you don't have the answer. So powerful man, if you can get it quick, quickly. So I am right there with you. So first contact rate, you reach out, you make that connection immediately. Even if you don't have a solution, you have to trust the system that your management team and your C level execs are potentially working on a system or at Least a communication track, right? Not everything can be solved. We know that. But if a customer is upset about something, it's worth space in our heads to figure out either is this something we can, you know, accommodate, or is it, you know, maybe a little bit further down the line? But either way, you're thinking about it, which is great. And then you hopefully can enact a plan to address the issues. But that's really what it's all about. Again, back to your original point. It's about improvement, it's about growth. And that's a huge piece of it, is reaching out to that customer and making sure they feel heard immediately. It's a great one. First contact, right? Anything else to add to that piece?
Yeah, I think you hammered one of the things that were most important to me. You're not always going to have the solution in the moment and you can't fix it, but I know this sounds really crazy, but what most people are looking for is some honesty and say, look, I hear you. I don't have a solution right now, but we're working on it. Immediately, I go into relax mode. I turn off my engines. I'm like, okay, someone's got it. I've even seen some companies who can't scale up, don't have enough personnel to get big enough, and even an email to say, hey, Ian's got your message. He. He's currently working on it. He'll be with you shortly. Even something like that that comes through lets me know my ticket's been assigned, someone's got it, they're reading it and looking into it. At least I know that there's been an acknowledgement that something's moving on that that helps.
This episode of the Account Experience podcast is sponsored by CustomerGage, the leading B2B account experience software that ties revenue to your experience data in real time to help you make better account centric decisions that drive revenue growth. Quick question. What do you guys think is the number one reason B2B experience programs fail? Believe it or not, it's lack of C suite buy. In CustomerGage's research with MIT, they've found the quickest way to align yourselves with the C suite is to actually align with what they care about most, which is revenue. That's why CustomerGage is literally built from the ground up to maximize and track the revenue contribution from your experience program in real time. Companies like dhl, Anheuser Busch, Heineken, uh, yeah, we get a good amount of free Bear 1 login, Iron Mountain, HR Block, SuperOffice and SugarCRM are already using Customer Gauge to maximize their growth by tying their programs to revenue. And with over $10 billion worth of account revenue actively being managed in Customer Gauge, yeah, that's billion. With a B, they're the leader in the space. But maybe even more interesting than they found that once you get alignment with that C suite, the needs of these B2B practitioners or the program champions are evolving too. In such a complex account environment, it can be really tough to measure and act on feedback quickly across multiple departments, divisions, or even locations. Luckily, Customer Gauge has you covered there as well with account native features that easily help you not only measure the feedback for multiple stakeholders in an account, but but act on that feedback in real time. Because at the end of the day, if you're not empowering your frontline staff with the right insights to address customer issues, you're going to be dealing with the churn issue. It's not a matter of if, it's really a matter of when. Customer Gauge helps you distribute this experience data across your entire organization, regardless of department, regardless of location, regardless of division, all in real time. No manual spreadsheets or a team of analysts. All are needed. Customer Gauge's mission is to help B2B companies harness the power of account centric growth to drive meaningful change in their businesses. And that's a powerful thing. If you want to see Customer Gauge in action, go ahead and check out CustomerGage.com and get a demo of account experience today. You won't regret it. Yeah, and that's a really good point, Carrie too. Just to riff off that real quick, HubSpot does this extremely well. So HubSpot is a marketing automation system we use internally for customer engage. They tie a face to it. They tie a human being to the actual interaction. Which I think is a genius point by you. So I don't think it's maybe that secret, but making sure that you tie like literally a face and a name. As soon as you submit your ticket, they're like, hey, Betty from HubSpot is on this thing and it puts their headshot. I don't know if it's the real headshot or not, but it makes me feel good. It makes me feel good that there's a human being on the but it's simple, right? But I mean man, is that effective. And I have to shout out to HubSpot, I think they have their support system down so well. I mean they are so damn quick. Talk about closing the loop. It's not too uncommon. I get a Call within five minutes of submitting a ticket. Five minutes. And they're a big company with big clients across the globe. Like, that's super impressive. So, again, and that sticks in my mind. So, I mean, and I deal with a lot of vendors. I mean, I'm VP of marketing, so I have more technology under my belt than I think anybody would. I'm embarrassed by the amount of things we have in our tech stack. So the fact that HubSpot is, you know, heads and shoulders above all those other vendors is saying something because I touch a good amount of them. But 5 minutes, 10 minutes. It's not crazy to get a call again from Betty. She's on it. So that's it. That's just so powerful. And I love your point of tying a person to it because that personalizes the experience and makes you feel like you're not a cog in the wheel.
Yeah. So. So. So let me throw one at you, then. Let me. Let's talk about another metric. Let's talk about the. The big, giant elephant in everybody's room. The revenue, you know, so. So. And I'm turning. I'm throwing it back to you a little bit, because as our marketing vp, you know, you're out front of that. You're a big part of that responsibility falls squarely on your shoulders.
Yeah.
So if I were to talk metrics and revenue, what do you think? You know, in a good account experience program, what are we measuring? What are we looking at?
So before I get into the answer of that, I want to talk about kind of what the marketing landscape looks like right now. And maybe from, you know, five years ago, there was this thing called the mql. Back then, there still is. I think we even still use some form of it internally. But what's happened is as marketers and as these organizations evolve, and honestly, I think the advent of the CRO, the Chief Revenue officer, marketers are being held to a higher standard right now, which is great, because I feel like we should have been there 10 years ago. But what's happening is marketers are shifting from realizing that the MQL number, which is basically just how many leads can I produce? Doesn't matter if they're necessarily qualified by sales or if they're, you know, really high quality. It's just, hey, I produced this mql. They took some sort of product action. Boom, done. My job's done. I handed off.
So, Ian, I'm gonna jump real quick. Mql. What does that stand for? Just so the audience.
Marketing qualified lead we use marketing qualified contacts internally because we're an account based marketing team. But it's essentially marketing qualified that like basically, hey, marketing says this is good, you know, kick it over to the fence to sales, right? That's essentially what it is. So marketing's evolved and I think, and the reason I'm telling the story guys is I think there's a parallel with the experienced people out there, the experienced practitioners. Marketing has evolved from the MQL in my opinion to revenue weighted pipeline. So what I mean by that is marketing, Marketing's contribution is now weighed in how many opportunities do you produce for sales that are sourced by marketing. So and you can actually put a number on that, right? If sales creates an opportunity, say in Salesforce, they'll say that it's company, you know, HP for $100,000 you can say if you source that meeting through marketing channels, you can now claim that $100,000 as marketing weighted. And there's kind of variations, right? You can be 60% weighted marketing, 40%. There's multi touch attribution gets confusing. But my point is marketing has shifted from a vanity metric, in my opinion, which is mql to revenue pipeline. I think that as these experience programs evolved over the next five to 10 years, the MQL or the NPS score will be transitioned to revenue. So this is why we're on this tirade about tying your programs to revenue. Because we don't think necessarily that NPS is the end all, be all. Sure, it's good to look at, to carry his point. You want to know where it's at. It's simple, everybody understands it. But where the rubber meets the road. What honestly the C suite really cares about is how much is your actual program generating in revenue dollars in terms of revenue. And I think that's where the real alignment happens across the organization. I think that's where the real alignment happens across, you know, the champion of the program with the C Suite. That's how you get up there. You want to get exposure for your program, exposure for your own career. And that's another piece that we could do a whole episode on is like making your career on these programs. Tie your program revenue. Don't be a company that focuses on just MQLs or just NPS scores.
So, so let me. So for the simple minded people in the room like myself, let me put this in layman terms to make sure I get this. So marketing comes up with let's say a campaign, let's say I need to bring in quality Contact somebody that I know sales could possibly sell my product to. Marketing comes up with a campaign that brings people in in one form or another. Email, campaign, social media, pay per click. I think we've all heard about that, right? Where you pay X amount of dollars to drive people in. And if that lead comes in, that prospect comes in and gets handed off to sales, and sales does end up making a sale on that, like you said, $100,000, then marketing could say, because of our campaign and what we did, we see a path that led to that customer coming on board. And you can tie a metric to your campaign success, to that hundred thousand dollar sale. Am I saying that right?
100%, Carrie. And I think it even goes a little bit further than that, where literally it doesn't even have to close. You can basically say pipeline influence, which is like, all right, well, we created a certain amount of influence at this account. And what you'll find is that these opportunities, even if you don't win them, a lot of them come back. So whether or not they work this time or the next time, you can track pipeline influence from your account experience program, and you can track, you know, total revenue from your account experience program over here. And then it gets into the whole discussion of roi, return on investment, or return on experience. Right? And then that's a whole different conversation, which is really cool. So moving beyond those vanity metrics and tying your program to revenue allows you to have different discussions within the organization. And people tend to stand up straight when you talk about revenue in the terms of these types of things. And I mean, it is one of the more interesting things we're seeing our clients do. And it's. It's just when you do it, it seems crazy that you were never doing it before. It's like, wow, I was kind of flying blind before. And we can get into that with our next metric, which is coverage. So coverage is essentially how much of your account base's revenue you have responses from. So if you have 20% coverage, that means you only have responses from 20% of your account base. So what can actually happen? And this happened to us, guys. Full disclosure, right? So you can read it in our account experience book. We thought we had an amazing program. We still do, but we're learning, right? We thought we had the best program in the world. We had a really high NPS score. This was pre account experience, pre all of our product innovation. What ended up happening, we did some data and we had companies churn. Accounts would churn on us. We had our really High NPS score. They would turn again, another account of Churn. And then we started digging into the data and what we found was our score was only from 20% of our revenue. So that little small pocket of revenue was giving us a really high score. But the other 80% of our revenue base wasn't responding at all. So we had very low coverage. And that skewed our entire view of the program. You can imagine, right, we're basing our decisions off of 20% of our revenue. We had drivers in there. We had feedback that we're, you know, improving our business around, but it was only 20% of our revenue. And 80% of the revenue on the other side was basically left unknown. We didn't know what they wanted to improve, so we weren't really necessarily catering our product innovations around the, that 80% of unknown revenue. So I'm going to stop there because that's a long winded rant. I'm sure Kerry can clarify some of this for us. But what are your thoughts on coverage? Kerry?
Wow. My favorite story. It's funny, we all have a favorite story that we tell around this, but I remember Adam telling our CEO telling the story. He had this presentation to a company, and he spent all night pulling data together, cleaning it up, getting it into our platform, really making sure that everything was where it belongs. He wanted sentiment in there. He wanted sales and everything. He walks into the boardroom the next day, the whole executive suite is sitting there. He opens up the platform and it's blank. And he says, he points at it and goes, this is your top 20% of your clients. This is your most important clients. It's. It's broken. It's empty. No, it's not. Because you don't have coverage. You're not even measuring right. And it was like, immediately everyone's like, you're hired. We want. Whatever you're selling, we'll take it. And it's a huge blind spot. I think if I could go back to all these metrics and why do we have metrics and why do we communicate them? It's so we don't have blind spots.
Yeah.
And nobody likes surprises. Everyone says, kerry, what upsets you? Not a lot. The one thing that does is a surprise. And when we get that notice that someone's churning or we have an upset voice out there that we just never heard, or it wasn't important, we couldn't fix something, that pisses me off. That's a blind spot. And I think what a lot of companies think is they, they Work again, this goes back to the just improving the NPS score or working to improve the metric and not looking at the story behind the metric. And you don't have a complete metric. You don't have something that you can make really sound decisions on unless you cover that entire audience and understand that. So when we're talking about revenue, that's where most programs take off. When companies take the step to go, you know what, at the end of the day, it's about making money. If anyone is under the misconception that you're running a business for any other objective, you're wrong. And there's nothing wrong with that. You have to be profitable, that profit can go to great things. You can do whatever you want with your profits. But at the end of the day, if you're not making money, you're not running a successful business. And if you can't have coverage, the biggest part of that revenue, what's driving your success, you're blind. You're driving very, very blind. And, you know, it's. It's that mistake you fall into. You're allowing that loud group to drive your company, and they might not be spending a penny for you. It's always that. That customer that walks into that, your favorite restaurant and yells and screams and is making the noise. I won't even tell you what name they use for this person. It's not even. I don't even want to do that. But, you know, they're the one that drives all the attention. But they usually end up spending the least amount or nothing at all. And it's that quiet guy in the back of the restaurant that you've ignored, who is. Is the biggest fender, you know, and he'll just quietly go away. You know, he thinks he's spending a lot of money or she. And he. They don't need to be loud. They just want to be recognized for that. So I think that's where coverage really comes into. Are you truly, truly covering the most important part of your base and your client base?
Yeah. And it's a really good point to basically care about that other 80%, like, know about it first. Right. But then put into place a system that makes sure you gather feedback from that 80%. Some companies don't know what's there, so they are kind of honestly blissfully ignorant about it. Right. And that's okay because again, we were there, too. Like, we were that company at one point where we just didn't realize it. But once you do, the next step is to put a plan in place to get feedback from that 80% of that revenue base, right? And then your focus kind of shifts from, all right, serving that 20% of revenue that is very loud and giving very detailed feedback. And your point of they're usually the lowest spenders is spot, spot on, 100%. But shifting your efforts as a, as a company, as a team, to not only getting clever ways to get feedback from that 80% of your revenue base, but taking that feedback and building it into your product, building into your systems, your processes, your people, that's so important. And ultimately at the heart of account experience is, you know, making sure you not only get the feedback in, but understand where it falls in the revenue spectrum. And we have again, AD here, but we have some really great widgets that allow you to do that. Slice and dice it by, you know, revenue percentage and all that stuff. It's really cool. But that's a really important thing. So even without cg, you guys can do this, right? Whether it be in an Excel spreadsheet or something like that. We encourage you to understand what your total revenue contribution by account is and then take an analysis on what percentage of those accounts have you received feedback from. It's really, really important.
I think that's really key because too many companies, they'll take the sentiment and run with it or just the revenue. And I think the beauty is when you start to marry these metrics together, when you're able to look at them not in a vacuum or isolated, but you start layering them on top of one another, I think a real picture starts to form.
That's kind of why we picked these four metrics. So if we go back through it, guys, drivers, right? So NPS is important, but drivers first contact rate. So like, how quickly are you following up with those accounts? Within the first, you know, X amount of time frame, revenue. So tying your program to revenue itself, the MQL little example, and then coverage. So these four metrics are going to. And they're not often discussed, which is really interesting. So that's what makes us think that this market is so young and so new that these are deeper metrics that we don't hear discussed often. But when you do come across a company that discusses these, they usually have a very complex, really well thought out program that they're measuring the real things that matter. They're growing their business. They usually have triple digit percent percentage growth every year. This is the secret. This is what they're doing, guys. They're looking at it from a revenue standpoint and they're really applying these changes to their businesses in real time. These are the unicorn metrics, if I'm being honest. These are kind of what you should care about. So, yeah. Kerry, anything else to add before we wrap up here? I think that's a really good first metric episode. I'm sure we can have a bunch of others after this, but we wanted to have this discussion for a while. We even mentioned it in a previous episode, so we finally got there. What are your closing thoughts here?
Yeah, I think what's really, really important, find the metric that works. I mean, you know, and then go a step further beyond that. You know, I know that sounds insane, but, you know, find that metric that everyone's talking about, that everyone's using, and then dig in a little bit deeper. There's probably a magic one right behind that one. Hiding out. And then once you do, make it very clear that everyone in the organization sees it. I think that's the biggest mistake a lot of companies do is like, this is a metric we talk about in the boardroom. This is a metric we talk on the front line and it's like, no, this is a metric that everyone needs to know about. If everyone in the organization does not know that metric and is able to call it out quickly, you'll probably have missed. There's a blind spot inside that you have to oversee. So find it, share it, talk about it, make sure people understand how to get to it. Also, love it.
It's uncovering those blind spots, being aware of them, and enacting a plan to fix them. So all for that. So, Kerry, thanks again. My friends. This has been another episode of the Account Experience podcast. Please subscribe, Share with Friends. Hit us up if you have questions. We'd love to hear from you and we'll talk to you all next time.
Thank you. It.
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