The top 9 customer success metrics for 2024

Metrics are the language of business. Metrics are the key to aligning with finance, proving value to your leadership and of course understanding the health of the business. 

So what metrics are customer success teams tracking as we move into 2024? Net revenue retention (NRR) was the top metric at the end of 2023, according to our annual survey of customer success leaders. 

Here are how the top nine customer success metrics tallied up, with links to their definitions and examples from our Churnopedia metrics glossary.

1. Net revenue retention (NRR).
2. Churn rate.
3. Expansion revenue.
4. Gross revenue retention (GRR).
5. Health scores.
6. Logo retention rate.
7. Net Promoter Score® (NPS).
8. Customer lifetime value (CLV).
9. Earned growth rate.

You can see from the graphic below that, while NRR still reigns supreme, some of the other metrics shifted in ranking compared with the same survey the previous year. That churn rate replaced GRR as the second top metric is a reflection of the economic uncertainty the market experienced in 2023. 

Metrics tracked by the most successful companies 

That the top metrics shifted as the economy changes is part of the natural ebb and flow of the business cycle. To that end, it’s useful to consider what metrics the most successful companies are tracking. 

We identified the “most successful” companies by evaluating those with NRR above 110% – and the top 10 customers success metrics these companies are tracking include:

1. Net revenue retention (NRR).
2. Gross revenue retention (GRR).
3. Expansion revenue.
4. Churn rate.
5. Health scores.
6. Net Promoter Score® (NPS).
7. Logo retention rate.
8. Customer lifetime value (CLV).
9. Earned growth rate.

Download the full report—the 2023 Customer Success Leadership Study—for a more in-depth look at the metrics that customer success teams are tracking as we move into 2024.

Featured photo by eskay lim on Unsplash