This analysis combines three key metrics:
1. Verbatim feedback on the implementation experience
2, Subequent Renewal Behavior
3. Contract Value
Methodology:
1. Text analysis from comments/feedback regarding product deployment experience were categorized into a taxonomy using inductive analysis based on the frequency of co-occurrence of key themes
2. Themes were organized according to importance and main areas of intervention were identified, namely:
- Implementation Team (the perceived professionalism of team members)
- Project management (meeting milestones and deliverables)
- Product experience (the gap between expected and actual product experience)
- Thought Leadership (connect business needs with product features)
- User Enablement (transfer knowledge to customer account reps)
- Expense/Value (the ability to access the value proposition and generate ROI)
- Specific Product Mentions (Product features mentioned/highlighted by name)
- Project management (meeting milestones and deliverables)
- Product experience (the gap between expected and actual product experience)
- Thought Leadership (connect business needs with product features)
- User Enablement (transfer knowledge to customer account reps)
- Expense/Value (the ability to access the value proposition and generate ROI)
- Specific Product Mentions (Product features mentioned/highlighted by name)
3. Within each main area, behaviors associated were mapped and assigned a score on a sentiment scale of -10 to 10
4. VOC Data was mapped to Sales/Renewal Data at the account level to quantify the financial impact
Findings:
1. The Implementation Team (professionalism) plays a crucial role in driving renewal behavior, specifically showing responsiveness and meeting timelines: These moments contribute to customer confidence in extending their relationship with the company. Resulting in further areas of investment and establishing a long-term partnership (renewal behavior).
2. Behaviors driving the highest value for upsell:
- Showing Responsiveness (1.3M Avg. Renewal ACV)
- Meeting Timelines (0.8M Avg. Renewal ACV)