CS H2- Project Plan

Owned by arlene.coello
Last updated: Dec 02, 2024
7 min read

MedTrainer CS H2 Plan: Moving from Generic to Specialized CSM Team

Strategy

Our strategy for the second half of the year centers on transitioning from a generic Customer Success Manager (CSM) approach to a specialized one. By segmenting our customer base and aligning specific CSMs to each segment (Strategic, Core, and Digital customers), we aim to provide more focused and effective customer engagement. This specialized approach will enable us to better address the unique needs of each customer segment, improve overall customer satisfaction, and enhance the value realization for our customers.

  • Strategic customers are defined as: MRR >$3,500

  • Core customers are defined as: all customers not falling into the categories of MRR $0-$500, Employee Count 0-50 or MRR >$3,500 (all customers who are not Digital or Strategic)

  • Digital customers are defined as: MRR $0-$500 and Employee Count 0-50.

Objectives

See: Key Metrics for targets for all objectives.

  1. Better Engagement: Develop tailored engagement models to foster deeper relationships and improve communication with customers.

  2. Clear Expectations for CSMs: Define and communicate clear roles and responsibilities for CSMs based on customer segments to drive accountability and ownership.

  3. Better Retention: Implement targeted strategies to reduce churn and improve customer retention rates.

  4. Maintaining Upsells/Expansions: Establish and achieve upsell and expansion targets to drive revenue growth.

  5. Increase References: Enhance customer advocacy by increasing the number of referenceable customers.

Phase 1: Tactical Adjustments (June - July)

Initiatives:

Milestones:

  • June 20 - June 30 🟢

    • Complete churn analysis and identify top 100 customers by MRR.

  • June 26 🟢

    • Set upsell and expansion targets for Q3.

  • July 1 🟢

    • Initial victory plan for Q3 completed and communicated.

  • July 15

    • Categorize all customers into Strategic, Core, and Digital segments. 🟢

    • Finalize engagement models for each segment. 🟢

    • Complete the assignment of CSMs to each segment. 🟢

    • Standardize churn data collection processes. 🟢

Success Milestones:

  • Churn Analysis Completion

    • Target: 100% by June 30. 🟢

  • Customer Segmentation

    • Target: 100% by July 15. 🟢

  • Engagement Model Finalization

    • Target: 100% by July 15. 🟢

  • Standardized Data Collection

    • Target: 100% by July 15. 🟢

  • CSM Assignment

    • Target: 100% by July 15. 🟢

  • Initial Victory Plan Completion

    • Target: Completed and communicated by July 1. 🟢

  • Upsell/Expansion Targets

    • Target: Set by June 26. 🟢

Phase 2: Communicate the Plan and Execute Initial Actions (August)

Initiatives:

  • Communicate Changes to the Team 🟢 

  • Train CSMs by Segment 🟡

  • Launch Pilot Programs 🟡

  • Collect Initial Feedback 🟡

  • Establish NPS Program 🟡

Milestones:

  • August 5

    • Complete team meetings to explain new structure and models. 🟢

  • August 15

    • Complete training of CSMs on engagement models and risk management strategies. 🟡

    • Launch pilot programs with selected accounts.🟡

  • August 31

    • Collect initial feedback from at least 50% of pilot accounts. 🟡

    • Establish and launch the NPS program. 🟡

Success Milestones:

  • Team Communication

    • Target: 100% by August 5. 🟢

  • CSM Training Completion

    • Target: 100% by August 15. 🟡

  • Pilot Program Launch

    • Target: Launch by August 15.🟡

  • Initial Feedback Collection

    • Target: Feedback from at least 50% of pilot accounts by August 31. 🟡

  • NPS Program Establishment

    • Target: Program live by August 31.🟡

 

Phase 3: Standardization and First Contact (September - October)

Initiatives:

  • Standardize Best Practices and Models

  • Update Playbooks and Training Processes

  • Increase Data Collection

  • Enhance Engagement Frequency

  • Establish Executive Sponsorship Program

  • Create Dashboards

Milestones:

  • September 30

    • Document and standardize successful practices.

    • Set up Customer Advisory Panel (CAP) and gather feedback.

    • Launch Executive Sponsorship Program.

  • October 15

    • Update playbooks and complete additional training.

  • October 31

    • Increase data collection by 25%.

    • Increase engagement frequency by 20%.

    • Create and implement key dashboards.

Success Milestones:

  • Standardization Completion

    • Target: 100% by September 30.

  • Playbook and Training Updates

    • Target: 100% by October 15.

  • Increased Data Collection

    • Target: 25% increase in data points collected by October 31.

  • Engagement Frequency

    • Target: 20% increase by October 31.

  • Executive Sponsorship Program Establishment

    • Target: Program live by October 31.

  • Dashboard Establishment

    • Target: Dashboards live by October 31.

 

Phase 4: Optimization and First Insights (November)

Initiatives:

  • Optimize Data Collection Processes

  • Establish Velocity Score

  • Ensure Adherence to Standardized Practices

  • Collect Customer Feedback

Milestones:

  • November 15

    • Implement advanced data collection and analysis tools.

  • November 30

    • Develop and launch a velocity score tracking system.

    • Ensure 100% adherence to standardized practices.

    • Collect feedback from at least 75% of customers.

Success Milestones:

  • Optimized Data Collection

    • Target: 100% by November 15.

  • Velocity Score Establishment

    • Target: System live by November 30.

  • Standardized Practices

    • Target: 100% adherence by November 30.

  • Customer Feedback Collection

    • Target: Feedback from at least 75% of customers by November 30.

 

Phase 5: Finish Strong (December)

Initiatives:

  • Review Engagement Models

  • Confirm Active Management of Segments

  • Review ARR/NRR Progress

  • Establish Next Victory Plan

Milestones:

  • December 15

    • Complete review of engagement models.

    • Ensure all customer segments are actively managed by their assigned CSMs.

  • December 20

    • Analyze and review ARR/NRR progress.

  • December 31

    • Develop and approve the next victory plan for the following year.

Success Metrics:

  • Engagement Model Review

    • Target: 100% review completion by December 15.

  • Active Management Confirmation

    • Target: 100% by December 15.

  • ARR/NRR Progress Review

    • Target: Review and report completion by December 20.

  • Next Victory Plan Establishment

    • Target: Plan completed and approved by December 31.

 

 

Key Metrics

Objective 1: Better Engagement

Metrics:

  • Engagement Rate:

    • Strategic Customers: Achieve a 50% engagement rate within 6 months.

    • Core Customers: Achieve a 40% engagement rate within 6 months.

    • Digital Customers: Achieve a 30% engagement rate within 6 months.

    • Measurement: Track the percentage of customers interacting with communications (emails, meetings, webinars).

  • Content Consumption:

    • Target: Increase content consumption by 50% within 6 months.

    • Measurement: Measure the number of times customers access and interact with educational content (videos, articles, webinars).

Objective 2: Clear Expectations for CSMs

Metrics:

  • CSM Training Completion:

    • Target: 100% of CSMs trained on new engagement models by August 15.

    • Measurement: Completion rate of training sessions and feedback quality.

  • Role Clarity:

    • Target: Define and communicate clear roles and responsibilities for CSMs by July 31.

    • Measurement: CSMs’ understanding and execution of their roles, measured through performance reviews.

Objective 3: Better Retention

Metrics:

  • Churn Rate:

    • Strategic Customers: Reduce churn rate from 8% to 5% within 12 months.

    • Core Customers: Reduce churn rate from 10% to 7% within 12 months.

    • Digital Customers: Reduce churn rate from 12% to 9% within 12 months.

    • Measurement: Track the percentage of customers discontinuing their subscriptions or services.

  • Customer Retention Rate:

    • Target: Achieve a retention rate of 90% within 12 months.

    • Measurement: Measure the percentage of customers retained over a specific period.

Objective 4: Maintaining Upsells/Expansions

Metrics:

  • Upsell and Cross-sell Rates:

    • Target: Achieve a 15% upsell/cross-sell rate within 12 months.

    • Measurement: Track the rate at which customers purchase additional products or services.

  • Expansion and Upsell Targets:

    • Target: Set by June 26.

    • Measurement: Track the achievement of upsell and expansion targets.

Objective 5: Increase References

Metrics:

  • Referenceable Customers:

    • Target: Increase the number of referenceable customers by 20% by the end of Q3.

    • Measurement: Number of customers willing to provide testimonials, case studies, or serve as references.

Other Metrics

Customer Satisfaction (CSAT) and Net Promoter Score (NPS)

Metrics:

  • CSAT:

    • Strategic Customers: Achieve an average CSAT score of 90% or higher within 6 months.

    • Core Customers: Achieve an average CSAT score of 87% or higher within 6 months.

    • Digital Customers: Achieve an average CSAT score of 85% or higher within 6 months.

    • Measurement: Collect CSAT scores through surveys after key interactions (onboarding, support resolution, QBRs).

  • NPS:

    • Target: Increase NPS from +30 to +40 within 12 months.

    • Measurement: Measure customer loyalty and likelihood to recommend your product to others.

Onboarding Efficiency

Metrics:

  • Onboarding Completion Rate:

    • Strategic Customers: Achieve a 95% onboarding completion rate within 30 days.

    • Core Customers: Achieve a 90% onboarding completion rate within 30 days.

    • Digital Customers: Achieve a 70% onboarding completion rate within 30 days.

    • Measurement: Track the percentage of new customers who complete the onboarding process.

  • Time to First Value (TTFV):

    • Target: Reduce TTFV by 20% within 6 months.

    • Measurement: Measure the average time for new customers to achieve their first significant value from MedTrainer.

Operational Excellence

Metrics:

  • Standardized Practices:

    • Target: 100% adherence to standardized practices by November 30.

    • Measurement: Monitor compliance and effectiveness of standardized practices.

  • Digital Tools Implementation:

    • Target: Implement necessary digital systems and processes by September 30.

    • Measurement: Track the implementation and utilization of digital tools.

Employee Engagement and Development

Metrics:

  • Training and Growth:

    • Target: 100% of the CS TEAM has 1-3 growth areas with mutual review every 90 days.

    • Measurement: Track training completion and performance improvements based on feedback.

  • Recognition Program:

    • Target: Develop and launch recognition program by September 30.

    • Measurement: Track the frequency and impact of recognition on employee performance and satisfaction.

Dashboard Metrics (to be included in relevant phases)

  1. Engagement Dashboard

    • Metrics: Engagement rate, content consumption, frequency of touchpoints.

    • Target: Dashboard live by MONTH/DAY.

  2. Health Score Dashboard

    • Metrics: Health scores, changes in health scores over time, correlation with churn.

    • Target: Dashboard live by MONTH/DAY.

  3. Churn Rate Dashboard

    • Metrics: Monthly churn rate, reasons for churn, proactive saves.

    • Target: Dashboard live by MONTH/DAY.

  4. Upsell/Expansion Dashboard

    • Metrics: Upsell and expansion opportunities, conversion rates, pipeline growth.

    • Target: Dashboard live by MONTH/DAY.