Gainsight Unveils Scorecards to Enable Subscription-Based Companies to Quantify Customer Health
Gainsight today released Scorecards, a new feature that uses advanced data analytics to combine objective elements, such as product usage and customer survey scores, with subjective elements, such as executive relationships and reference-ability, to deliver a holistic health score for each customer account.
Gainsight Scorecards use a data-driven methodology and customization controls to help users identify the at-risk accounts from the healthy ones, standardize internal customer health reporting to their management teams and boards, benchmark customers by relative health scores, and share common views of customer health with their clients.
Gainsight Scorecards allow companies to see customer account health at a glance with visual, color-coded scores and grades. Scorecards follow a consistent, data-driven methodology and are integrated with Gainsight's robust rules engine to automatically generate alerts when a significant score change happens. Rankings leverage multiple data sources and assign weights based on importance and impact on customer health.
Gainsight Scorecard offers the following features:
- Grading Scheme: Gainsight supports three schemes to score customers: numeric (0 to 100), character (e.g., A through F) and RYG (red/yellow/green).
- Group Metrics: Users can add as many subjective (e.g., executive relationship) and objective (e.g., aggregate user logins, survey scores) metrics as needed to create the right score, and group them together based on relationship, product usage, customer segment, etc.
- Weights to Assign Importance: Assigning weights to each metric allows Gainsight to roll up the impact of individual scores into an overall customer health scorecard. This process helps users think about the relative importance of each metric.
- Customer Scoring: Both individual metric scores and overall customer health scores are available from within Gainsight's Customer360, which provides an integrated view of customer health across product/service usage, contract information, support activity, billing history, survey responses, reference and engagement data, and more. Users can also compare these scores across their customer bases to see where customers stand overall, and on each individual metric.
"For years, credit reporting bureaus have leveraged various factors of a consumer's financial history to generate credit scores as a means of evaluating potential risk," said Nick Mehta, CEO of Gainsight, in a statement. "With Gainsight Scorecards, subscription-based businesses can bring that same degree of transparency into their customer retention practice by scoring customers based on various data-driven factors and managing against their individual risk of churn."