{"id":5240,"date":"2022-03-02T23:58:47","date_gmt":"2022-03-02T22:58:47","guid":{"rendered":"https:\/\/capturly.com\/blog\/?p=5240"},"modified":"2023-09-20T16:03:28","modified_gmt":"2023-09-20T14:03:28","slug":"what-is-customer-success-analytics-how-is-it-different-from-product-analytics","status":"publish","type":"post","link":"https:\/\/capturly.com\/blog\/what-is-customer-success-analytics-how-is-it-different-from-product-analytics\/","title":{"rendered":"What is Customer Success Analytics? How is it different from Product analytics?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">\u201cData is what you need to do ANALYTICS, information is what you need to do BUSINESS\u201d <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Aren\u2019t we all governed by data and interpreted by analytics? From marketing to sales, organizations these days are using business analytics tools to derive meaningful insights to help grow their business. <\/span><span style=\"font-weight: 400;\">Sales professionals use business analytics to analyze the sales pipeline; detect any loopholes in the sale process, and raise sales performance.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Whereas, marketers are using business Analytics to analyze marketing campaigns and study consumer trends for responding well to the needs and demands of the consumer. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">In a similar way, just as organizations are using data and analytics to acquire customers, businesses these days are adopting customer analytics to retain customers. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">In this blog, we will describe how <\/span><span style=\"font-weight: 400;\">customer success teams can derive value from analytics and how customer success analytics will enable them to improve the growth of their organizations.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/capturly.com\/blog\/what-is-customer-success-analytics-how-is-it-different-from-product-analytics\/#Infusing_Analytics_into_Customer_Success\" title=\"Infusing Analytics into Customer Success\u00a0\">Infusing Analytics into Customer Success\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/capturly.com\/blog\/what-is-customer-success-analytics-how-is-it-different-from-product-analytics\/#Tracking_Data_Throughout_the_Customer_Journey\" title=\"Tracking Data Throughout the Customer Journey\">Tracking Data Throughout the Customer Journey<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/capturly.com\/blog\/what-is-customer-success-analytics-how-is-it-different-from-product-analytics\/#What_is_Product_Analytics_and_why_is_it_insufficient_to_draw_data-driven_insights_for_Customer_Success_Teams\" title=\"What is Product Analytics and why is it insufficient to draw data-driven insights for Customer Success Teams ?\">What is Product Analytics and why is it insufficient to draw data-driven insights for Customer Success Teams ?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/capturly.com\/blog\/what-is-customer-success-analytics-how-is-it-different-from-product-analytics\/#How_can_a_Customer_Success_analytics_tool_help\" title=\"How can a Customer Success analytics tool help?\u00a0\">How can a Customer Success analytics tool help?\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Infusing_Analytics_into_Customer_Success\"><\/span><b>Infusing Analytics into Customer Success\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">According to a Harvard Business Review report, <\/span><span style=\"font-weight: 400;\">50% of companies aim to <\/span><b>improve customer experience with data and analytics<\/b><span style=\"font-weight: 400;\">. Up to 40% of companies surveyed said they\u2019ve been able to achieve this, so there\u2019s still a gap of 10 percentage points between aspiration and reality, and half of all companies aren\u2019t pursuing the Customer Success benefits of analytics at all.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-5245\" src=\"https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/businesspeople-working-finance-accounting-analyze-financial-graph-budget-planning-future-office-room-1024x684.jpg\" alt=\"Businesspeople working in finance and accounting Analyze financi\" width=\"760\" height=\"508\" srcset=\"https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/businesspeople-working-finance-accounting-analyze-financial-graph-budget-planning-future-office-room-1024x684.jpg 1024w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/businesspeople-working-finance-accounting-analyze-financial-graph-budget-planning-future-office-room-300x200.jpg 300w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/businesspeople-working-finance-accounting-analyze-financial-graph-budget-planning-future-office-room-768x513.jpg 768w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/businesspeople-working-finance-accounting-analyze-financial-graph-budget-planning-future-office-room-760x507.jpg 760w\" sizes=\"(max-width: 760px) 100vw, 760px\" \/> <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">In between the missed opportunity, there lies the catch of using analytics for Customer Success Teams. Let us look at the various game-changing valuable insights that could be drawn through Customer Success analytics to help determine the success of your business.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Understand customers behavior<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Optimize customers\u2019 use of products and services<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Increase retention\/reduce churn by anticipating issues and identifying opportunities<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Proactively improve customer support<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Enhance knowledge-sharing and decision-making to drive growth<\/span><\/li>\n<\/ul>\n<p><b>Obtaining a 360 view of customers<br \/>\n<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">\u201cThe 360-degree view of the customer is critical for identifying where the customer is within their journey, knowing where they are today, what they want to achieve for their business, and what else we can do to help them get there,\u201d\u00a0 <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">&#8211; April Barnoy, the associate VP of customer growth at Sisense. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">With customer success analytics CSMs can gain valuable insights into customer behavior, product adoption the pattern of usage of the tool. Coupled with this <\/span><span style=\"font-weight: 400;\">intelligence, CSMs can more easily understand what their next best action should be, what risks and openings may arise in different customer accounts, and even forecast more accurately, so they can develop initiatives based on data that will reduce customer churn, increase retention, and boost growth. Analytics also enables CSMs to track the speed and efficiency of customer support and pinpoint ways to upsell and expand your existing accounts.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Customer Success Tools make this task easier. Features like Customer Health 360 comes with the benefit of providing insights into-\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Timely &amp; Accurate information about Customer Engagement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Seamless Experience for you and your customers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customer Segmentation\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deep Insights into Customer behavior<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Predictive Analytics and Mapping<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">With <\/span><span style=\"font-weight: 400;\">\u00a0<\/span><a href=\"https:\/\/customersuccessbox.com\/customer-health-score\/\"><span style=\"font-weight: 400;\">CustomerSuccessBox<\/span><\/a><span style=\"font-weight: 400;\">\u2019s dynamic <\/span><span style=\"font-weight: 400;\">Customer Health Dashboard<\/span><span style=\"font-weight: 400;\">, you can derive immensely valuable <\/span><span style=\"font-weight: 400;\">revenue insights into every facet of the customer journey.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-5246\" src=\"https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/20945550-1024x683.jpg\" alt=\"Doctors and personalized prescriptive analytics. Big data healthcare, personalized medicine, big data patient care, predictive analytics concept. Pinkish coral bluevector isolated illustration\" width=\"760\" height=\"507\" srcset=\"https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/20945550-1024x683.jpg 1024w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/20945550-300x200.jpg 300w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/20945550-768x512.jpg 768w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/20945550-760x507.jpg 760w\" sizes=\"(max-width: 760px) 100vw, 760px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tracking_Data_Throughout_the_Customer_Journey\"><\/span><b>Tracking Data Throughout the Customer Journey<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Utilizing customer success analytics intelligently begins with identifying what to track and how to track it. It is important to <a href=\"https:\/\/capturly.com\/blog\/why-behavioral-analytics-is-key-in-your-customer-journey\/\">track data throughout the customer journey<\/a> to have a complete picture of your customers\u2019 needs. It is always the easiest to take all the data points that you have across all systems, but this just creates noise and unnecessary work. Your team should take note of isolated data points that indicate individual victories or failures, as well as what they say about the customer\u2019s overall experience. Different types of data become more valuable during different stages of the customer journey (note that stages may overlap):<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Onboarding:<\/b><span style=\"font-weight: 400;\"> The onboarding stage is your team\u2019s chance to make a great impression. The more efficient your process, the better. As such, important metrics to track during onboarding typically include things like time between milestones and adoption.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Adoption: <\/b><span style=\"font-weight: 400;\">The adoption stage of the customer journey is also called the growth stage. During this time, your team should be keeping a close eye on key adoption metrics like how much time customers are spending with a product and feature adoption rate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Renewal:<\/b><span style=\"font-weight: 400;\"> During the renewal stage, it\u2019s important to prioritize at-risk renewals. Customer renewal rates and churn rates are <\/span><a href=\"https:\/\/customersuccessbox.com\/blog\/10-customer-success-kpis\/\"><span style=\"font-weight: 400;\">obvious KPIs<\/span><\/a><span style=\"font-weight: 400;\"> here, but it is also important to track things like customer behavior continuously\u2014not just 30-60-90 days before renewal.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Escalation:<\/b><span style=\"font-weight: 400;\"> When a customer reaches the escalation stage, the most important thing your team can do is help the customer feel heard and help them find a satisfying solution. The second most important thing they can do is to learn from the experience. The best way to do this is to track data related to important factors like the cause of the escalation, what warning signs might have been present prior to the escalation, and how quickly and effectively the escalation was handled by your team.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Customer Success is everyone\u2019s business, not just the CS team\u2019s, so escalation handling may be a cross-team effort. Product gap escalations will involve the Product team, for instance.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Tracking the right data at the right time is a vital component in crafting a successful business strategy, particularly for optimizing customer success. Knowing how to use that data, however, is equally as important.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-5248\" src=\"https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/Office-workers-organizing-data-storage-1-1024x683.jpg\" alt=\"Office workers organizing data storage and file archive on server or computer. PC users searching documents on database. Vector illustration for information technology, source concept\" width=\"760\" height=\"507\" srcset=\"https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/Office-workers-organizing-data-storage-1-1024x683.jpg 1024w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/Office-workers-organizing-data-storage-1-300x200.jpg 300w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/Office-workers-organizing-data-storage-1-768x512.jpg 768w, https:\/\/capturly.com\/blog\/wp-content\/uploads\/2022\/03\/Office-workers-organizing-data-storage-1-760x507.jpg 760w\" sizes=\"(max-width: 760px) 100vw, 760px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Product_Analytics_and_why_is_it_insufficient_to_draw_data-driven_insights_for_Customer_Success_Teams\"><\/span><b>What is Product Analytics and why is it insufficient to draw data-driven insights for Customer Success Teams ?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">So, Product analytics is basically going to <\/span><span style=\"font-weight: 400;\"><a href=\"https:\/\/capturly.com\/guides\/ultimate-guide-to-heatmaps-everything-you-need-to-know-about-website-heatmaps\/#what-does-a-heatmap-show\">analyze how users utilize your product features<\/a>. It will provide you with predicted areas of product friction. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Businesses use Product Analytics to <a href=\"https:\/\/capturly.com\/guides\/the-basics-of-session-replays\/#what-are-the-purposes-of-session-replays\">improve the user experience<\/a> by identifying the problems faced by customers and resolving them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Product analytic tool helps you analyze customer interaction with your product but misses out on many key aspects like- <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">1. Missing out on engagement opportunities<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">2. Missing out on key product insights etc<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Read here to know about the <\/span><a href=\"https:\/\/customersuccessbox.com\/blog\/what-are-drawbacks-of-product-analytics-tool-and-how-data-driven-cs-can-help\/\"><span style=\"font-weight: 400;\">drawbacks of product analytics and how the data-driven Customer success can help ?\u00a0<\/span><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_can_a_Customer_Success_analytics_tool_help\"><\/span><b>How can a Customer Success analytics tool help?\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A <\/span><span style=\"font-weight: 400;\">Customer Success Platform<\/span><span style=\"font-weight: 400;\"> works the data driven way. It analyzes all of the data compiled by the different components of your product and sums them into a usable format.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you\u2019re being data-driven in your Customer Success approach, CS platforms like CustomerSuccessBox allow you to access important information like:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customer health<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">360-degree customer views<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Product usage<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deeper customer segmentation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lifecycle tracking<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Customer Success platforms helps you onboard, retain and upsell your accounts. Some of this would be never possible with just your basic product analytics tool.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cData is what you need to do ANALYTICS, information is what you need to do BUSINESS\u201d Aren\u2019t we all governed by data and interpreted by analytics? From marketing to sales, organizations these days are using business analytics tools to derive meaningful insights to help grow their business. Sales professionals use business analytics to analyze the<\/p>\n","protected":false},"author":28,"featured_media":5242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[97],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Customer Success Analytics? 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