Subscription leaders face many challenges, requiring lots of decision making. Acquiring and integrating businesses, launching new products, executing go to market plans, to list a few. So it is important to get to the heart of what matters, what moves the needle, what investments to make.
Mike Phillips chaired the Substribe working group on customer value. Mike Phillips is an experienced senior leader of b2b subscriptions at Informa and other business information companies. The focus of discussion was on the ‘Must Have Score‘ we’ve been developing.
Faced with lots of decisions, surfacing useful information is critical. The Must Have Score means you can cut through by asking a direct question to customers of b2b subscriptions.
Useful information from the Must Have Score (MHS) includes:
1. Product management: what should you be investing in, retiring, adding features, etc. Use the MHS to take a snapshot of your customer base. This will help inform roadmap decisions.
2. Customer interventions – dovetail the MHS into customer management and renewal process.
If you are not asking the question to your client, someone on their side will be. So take control of that question. Know where you stand.
“I liked the simplicity of the Must Have Score question. Let’s ask the question as direct as we can, to the people using and buying the product. The richness from the answer is very tangible and will stop you going down false paths.”
Already measuring sentiment? Don’t stick with one view.
“I used to focus on NPS. But people might be a promoter because they think a service is a great example, but they aren’t answering the question, do I need it?”
See our chat about the lessons learned here.