Customer Success

Customer success is a mindset and not only a department. This team needs to work with every single team at Kinetic Data and provide guidance to adopt a customer-centric mindset at all levels.

The Vision

As the Customer Success team in Client Services, our main objective is to build strong relationships with our valued customers. We dedicate time and effort to deeply understand their needs, goals, and challenges, which allows us to provide proactive support and guidance. Our ultimate goal is to ensure the overall satisfaction of our customers while driving the adoption of our products and services.

We take pride in exceeding our customers' expectations, anticipating their needs, and offering solutions that address their unique challenges. By actively listening and engaging with our customers, we can identify opportunities for their growth and expansion. Our team is committed to delivering exceptional service and continuously enhancing the value we bring to our customers' organizations.

At Kinetic Data, we firmly believe that customer success is at the core of our business. We strive to build long-term partnerships with our customers, acting as trusted advisors and providing ongoing support throughout their journey. By focusing on their success, we contribute to our customers' and our organization's growth and prosperity.

The Kinetic Data platform was built for large, complex enterprise organizations that require a flexible and scalable platform. Due to the platform's complicated nature, the customer success and customer services team need to be skilled at breaking down information into digestible steps, which ensures better adoption of the solution.

As the customer success manager, you have to be the customer's voice and advocate for the engineering and delivery teams. Everyone must work together to communicate realistic expectations clearly to the customer.

Common Success Metrics

These metrics are the baseline that will be used to measure the success of our Customer Success Team.

Annual Recurring Revenue (or MRR)

This is the value of recurring revenue from customers. This can change with upselling or extending the usage of the solution. With Kinetic Data, our number one goal is Expansion Revenue, which is the customer using MORE of their existing solution.

Gross Revenue Retention (GRR)

This is the percent of revenue from a pool of customers that are still present at a specified period (excluding expansions and upsells). This number cannot be greater than 100%.

Net Revenue Retention (NRR)

This percent of revenue includes present, plus expansion and upsells. The goal is to have this number exceed the starting MRR amount. If you drop below 60%, this shows an unhealthy business model, and we need to evaluate where we are missing the mark.

NRR = Starting MRR + (Expansion MRR - Churned MRR) / Starting MRR

Annual Contract Value (ACV) / Total Contract Value (TCV)

This is the average contract value of all subscriptions. This considers all current licensing and the number of customers we have. We should be seeing yearly growth in this number.

Total Contract Value includes contract amount plus any one-offs. This should also be considered with the end goal that retained hours are being purchased for additional growth opportunities with current customers.

CHURN: This is a lagging metric that may not give an entire picture of the financials and customer health. It should not be used to strictly measure whether or not a Customer Success Manager is being successful. Many steps throughout the customer journey are leading metrics that should be tracked.