The KPI index is an excerpt from our new eBook, The 2016 Sales Performance Index.
Account Management is the easiest sales organization department when it comes to tracking performance. Account Management teams tend to have a much more static daily process than sales and marketing teams, and their effectiveness is easier to spotlight.
Account Management, at the end of the day, should be all about responsiveness, problem-solving efficiency and relationship-building.
The basic parameters for Activity, Objective and Moneyball Metrics are also much easier to follow, as you’ll see below. Depending on the nature of your customer success program, you can use as many or as few of these metrics as you see fit.
The 3 Types of Account Management KPIs
In every organization, there are always three types of performance metrics: Activity metrics, Objective metrics and Moneyball metrics.
Activity metrics are daily “hustle” metrics (calls, emails, conversations) proven to drive longer-term Objective metrics (revenue, contracts signed). Moneyball metrics (or Advanced metrics) bridge the gap between Activity and Objective metrics, showing how efficiently your team is operating.
With that in mind, here are the top Activity, Objective and Moneyball metrics worth monitoring in 2016.
Account Management Activity Metrics
1. Support Emails
Total emails a support team member sends in response to requests for support.
2. Support Calls
Total calls a support team member makes in response to requests for support.
3. Clients Touched
Find the optimal support team member/client ratio and track how many different clients a support team member touches on a given day.
4. Success Emails
Total emails a support team member sends to proactively offer best practices, build rapport or provide updates on the product/service.
5. Success Calls
Total calls a support team member makes to proactively offer best practices, build rapport or provide updates on the product/service.
6. Support Touches
Total touches a customer support team member makes in response to requests for support.
7. Success Touches
Total proactive “Client Success” touches a customer support team member makes.
Account Management Objective Metrics
1. Time to Resolution
On average, how much time passes from initial support request to resolution.
2. Touches to Resolution
On average, how many calls and emails are exchanged from initial support request to resolution.
3. Response Time
What is the average time it takes a customer support team member to respond to a support request?
4. Contract Extension Revenue
Revenue gained from contract extensions.
5. Customer Upsell Revenue
Revenue attributed directly to support via upsells and expansion.
6. Usage Metrics Per Client (SaaS only)
The more users log in, stay on and interact with your product, the better. SaaS companies have the unique advantage here, since 95% of client experience occurs digitally and is trackable.
Moneyball Account Management Metrics
1. Customer Churn Rate
What percentage of your customers either cancel their contracts or fail to renew once the contract is up?
2. Contract Retention Rate
Percentage of expiring contract renewals versus dropoffs.
3. Customer Expansion Revenue Rate
The rate of revenue growth, attributed directly to support via upsells and expansion.
Get the 2016 Sales Performance Index
The 2016 Sales Performance Index is the most comprehensive guide to finding, measuring and optimizing performance across your entire sales organization.
To get over 40 pages of free insight and analysis, visit the Ambition Academy and download your free copy of the eBook.
Ambition: Track and Drive Account Management KPIs
Ambition is a sales and account management software that syncs Salesforce and other data systems on one simple interface.
Ambition enhances account manager KPI visibility and lets managers run powerful contests, reporting, and analytics via a simple drag-and-drop interface.
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Contact us to learn how Ambition can impact your sales organization today.