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14 July 2023 14 min read


THE ANATOMY OF THE CUSTOMER HEALTH SCORE

Membership content

PATTI ZACK

Read More


This article is based on a presentation given by Patti at the Customer Success
Festival in Las Vegas, in May 2023.

Catch up on this presentation, and others, using our OnDemand service. For more
exclusive content, visit your membership dashboard.

--------------------------------------------------------------------------------

My name is Patti Zack, and I was recently the Chief Customer Officer at
FiscalNote. My entire professional journey has been in the realms of information
and financial services, primarily at large-scale companies.

This article will cover several areas:

 * An introduction to customer health
 * An outline of prevalent industry issues
 * The methods we used to develop customer health scores, and
 * How FiscalNote integrated these into its teams' workflows.


CUSTOMER HEALTH: ENHANCING ORGANIZATIONAL VALUE AND NAVIGATING CHALLENGES

So why do we regard customer health as a critical factor in enhancing
organizational value? I’d like to share two quotes from a McKinsey article.

The first quote states:

> "Compensating for the value of one lost customer can require the acquisition
> of three new customers."

This statement resonates with key decision-makers like CFOs. They understand the
economic implications and the fact that it takes acquiring multiple new
customers just to offset the loss of one.

The second quote is:

> "80% of the value creation achieved by the world's most successful growth
> companies comes from their core business."

This significant value creation is mainly due to the unlocking of new revenue
streams from existing customers. This realization should serve as an aligned
North Star for your product, engineering, sales, and customer success leaders.

If there's one common goal to rally around, it should be driving 80% of your
organization's value from your core business.


THE PROBLEM WHEN IT COMES TO CUSTOMER HEALTH

So, what’s the problem? The challenge arises in an environment with constrained
resources, overwhelming data, and escalating pressure to meet objectives.
Customer success leaders face the task of unifying efforts and prioritizing the
most impactful areas. We often hear phrases like "work smarter, not harder" or
"optimize your resources."

The first problem is identifying the customers in the most trouble – the ones
emitting the “smoke signals.” Since it costs significantly more to acquire new
customers than to retain existing ones, spotting these signals is crucial.

Secondly, if 80% of your organizational value stems from your existing customer
base, the question becomes, “How do you cultivate and capitalize on this? How do
you navigate the path to unlocking that value?”

Re-examining the customer journey to enhance customer’s experience
We spoke to Ralph Meyer, Enterprise Customer Success Manager at Procore
Technologies, ahead of his presentation at the Customer Success Festival in
London. Ralph asks the question: ‘How do we shift from a product-focused
discussion to solving business challenges?’
Customer Success CollectiveGrace Gupta



EXPERIENCE-LED DECLINE: MISALIGNED UNDERSTANDING OF CUSTOMER HEALTH

In my first few weeks as the Chief Customer Officer of FiscalNote, I decided to
pose an essential question to my fellow leaders, each skilled in their
respective areas:

> "How do we identify healthy and unhealthy customers?"

I received a range of responses:

 * Chief Marketing Officer: "It's all about engagement with our content. If they
   attend a webinar or interact with our content, we consider them healthy."
 * Sales and Account Managers: "It's based on the strength of our relationship
   with the customer."
 * Product team: “It’s based on product usage and the adoption of key features.”
 * Success and support team: “It’s the customers' ability to articulate the
   value they received by the end of the contract or their CSAT score.”
 * Finance: “It’s the contract value and prompt payment.”

After considering all these responses, I realized they were all correct (in
their ways). However, this led to a significant issue.

Each of these functional teams had different perceptions of what constitutes a
healthy customer and accordingly directed their resources towards initiatives
they believed would create organizational value.

Unfortunately, this mismatch in understanding resulted in confusing customer
journeys, misaligned efforts, inaccurate forecasts, wasted resources, and, worst
of all, employee burnout due to unclear focus areas. Leaders were constantly
shifting focus, causing what I call an "experience-led decline."

In this scenario, various customer-facing teams impact the customer in different
ways, resulting in a suboptimal customer experience. It's not a product-led
decline, or a customer-led decline, but an experience-led decline.

Unlock growth potential with the customer health score
Are you ready to future-proof your customer success efforts with effective
customer health scoring? In this article, I’ll explore the transformative power
of health scoring in driving customer success and business growth.
Customer Success CollectivePatti Zack



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Written by:

PATTI ZACK

As the Chief Customer Officer at FiscalNote, Patti leads efforts to provide
customers with a more seamless and impactful end-to-end journey, ensuring they
fully benefit from the company's solutions.

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Customer Success Collective
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The anatomy of the customer health score


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