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Which B2B experience metrics matter in 2023? The Account Experience Illusion

Blog by Ben Goodey
November 29, 2022
"You don’t pay the plumber for banging on the pipe. You pay him for knowing where to bang."

Introduction

In 2023, it’s important to remember that while the goal of your experience program should be this:

  1. Revenue rescue

  2. Earned growth

These are lagging metrics—the glory of 'banging on the pipe'.

But the leading metrics? The hard graft inputs that create all that glory?

That’s where you should focus your efforts in 2023
  • Improve response rates
  • Maximize coverage
  • Close the loop with Detractors
  • Activate Promoters

And all the other underappreciated and unseen hard work that goes into building the most successful businesses in the world.

Iceberg F Inal

We could tell you about CX trends and innovations for 2023, but the truth is most companies aren't even sending feedback surveys yet.

And, for those that are, most aren't maximizing the opportunity in front of them.

There's a reason that each year we celebrate companies with high responses, closed-loop rates, engaged employees, and maximum coverage. It's the secret sauce behind a revenue-growth-driving experience program.

Let's break down some of those core leading metrics.

4 Leading B2B Experience Metrics to Focus on in 2023

In the iceberg image above, it's quite clear that there's a lot that goes into building a successful, revenue-driving experience program.

In our recent webinar, we deep-dived a few more of them.

Keyareas

Everything we do at CustomerGauge comes back to revenue: how can we help our customers grow?

With that in mind, these four are particularly important to focus on:

1. Improve Response Rates

Focusoncustomerengagement

The more B2B customer feedback you collect the more “in the know” you are and the more action you can take. Just imagine for a second if you treated all non-respondents as NPS Detractors (Fred Reichheld recommends this). Your score would look very different:

My B2 B Relationship Survey

That paints a much more realistic and worrying picture of your account health.

Tips Icon
Top Tip

Follow up with non-responses and especially ensure you have responses from stakeholders across different hierarchy levels. Not just the user.

📖 Further reading: How to improve response rates

📖 Further reading: Survey multiple contacts, multiple times per year. Here's why.

2. Maximize Coverage

Maximize coverage

You want feedback signals from every single one of your customers. The more of your revenue base is covered, the more revenue you can rescue or grow.

Top tip: You should start with getting responses from your largest accounts first, then work your way down the list until 100% of your revenue base is covered.

📖 Further reading: Absence of signal, the hidden churn indicator

3. Close the loop with Detractors

CT Lwithdetractors

You wouldn’t walk away from a friend offering you advice. So, why would you ignore a customer?

Top tip: For the best results on retention, close the loop with Detractors within 48 hours.

📖 Further reading: Closed-loop feedback best practices & original data

4. Activate Promoters

Activatepromoters

So you’ve got all these Promoters now, wahoo! Now what? We recommend that you activate them. Get with your sales or success teams and work out a plan to take advantage of your happiest customers.

Tips Icon
Top Tip

Upsell opportunities lie at the intersection of small revenue Promoter accounts that have large revenue potential.

📖 Further reading: Learn how to identify upsell opportunities with Net Promoter

📖 Further reading: B2B referral marketing guide

We hope these tips help. Plenty more where they came from!

About the Author

Author Icon
Ben Goodey
Ben Goodey is a qualified B2B Account Experience expert. Having worked closely with leading companies on their customer service, experience, and insights programs, he's now leading the content team at CustomerGauge to help B2B organizations build ROI-generating NPS programs.
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