What are the best practices for measuring B2B relationship metrics in the healthcare industry?

1 Customer satisfaction

Customer satisfaction is a measure of how happy your clients are with your products, services, and interactions. It can be assessed through surveys, feedback forms, reviews, or testimonials. Customer satisfaction is a crucial metric for B2B marketers, as it indicates how likely your clients are to renew, refer, or expand their contracts with you. To improve customer satisfaction, you should focus on delivering high-quality solutions, providing excellent customer service, and exceeding expectations.

2 Customer retention

Customer retention is a measure of how many of your clients stay with you over a period of time. It can be calculated by dividing the number of customers at the end of a period by the number of customers at the beginning of the period, and multiplying by 100. Customer retention is a vital metric for B2B marketers, as it reflects how loyal and profitable your clients are. To increase customer retention, you should focus on creating long-term value, building trust, and offering incentives.

3 Customer lifetime value

Customer lifetime value is a measure of how much revenue and profit a client generates for your business over the entire duration of their relationship with you. It can be estimated by multiplying the average revenue per customer by the average customer retention rate, and subtracting the average cost per customer. Customer lifetime value is a strategic metric for B2B marketers, as it helps you allocate your resources, optimize your pricing, and segment your clients. To enhance customer lifetime value, you should focus on upselling, cross-selling, and reducing churn.

4 Net promoter score

Net promoter score is a measure of how likely your clients are to recommend your business to others. It can be obtained by asking your clients how likely they are to recommend you on a scale of 0 to 10, and subtracting the percentage of detractors (those who score 0 to 6) from the percentage of promoters (those who score 9 or 10). Net promoter score is a powerful metric for B2B marketers, as it indicates how satisfied and loyal your clients are, and how much word-of-mouth marketing you can generate. To boost net promoter score, you should focus on delivering exceptional value, resolving issues, and asking for referrals.

5 Customer advocacy

Customer advocacy is a measure of how much your clients support and promote your business to others. It can be measured by tracking the number and quality of referrals, testimonials, reviews, case studies, or social media mentions that your clients provide. Customer advocacy is a valuable metric for B2B marketers, as it shows how engaged and influential your clients are, and how much organic growth you can achieve. To foster customer advocacy, you should focus on rewarding, recognizing, and engaging your clients.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?