This tutorial explains how to use custom fields for benchmarking; specifically how to populate Benchmark ARR value for each customer automatically using the Rules Engine. This Benchmark ARR value can be compared with the actual ARR of a customer to create Opportunity CTAs for Upsell, in case the actual ARR of a customer is less than the Benchmark ARR. For example, if the Benchmark ARR is $20,000 and the actual ARR of a customer is $8000, which is less than the Benchmark ARR of $20,000, then you can write a rule to create Opportunity CTAs for Upsell.
Note: Benchmark ARR is calculated based on the ARR or ASV of each customer, divided by the number of customers (Benchmark Size) in that Industry.
In this tutorial for Benchmarking ARR it is assumed that you have:
- Created two SFDC fields: Benchmark ARR and Benchmark Size.
- Added the Benchmark ARR and Benchmark Size fields to CS360’s Summary section. For more information on how to edit the summary section, refer to Customer 360 Summary Configuration.
Create Rule for ARR Benchmarking
To create a rule for ARR Benchmarking:
1. Navigate to Administration > Rules > + Rule.
2. Enter the following details:
- Rule Type: select Custom.
- Rule For: select Account.
- Rule Name: enter the name as Benchmark ARR.
- Description: This rule is for benchmarking ARR.
3. Click Next; then drag-and-drop the following fields in the Show section under Setup Rule.
- Customer Info:: ASV; then select AVG of ASV
- Account:: Id; then select COUNT_DISTINCT of Id
The following is an example of what the preview results might look like:
4. Click Next; then under Setup Action click +Action.
5. Perform the following operations:
a. From the Action Type drop-down box, select Load to SFDC object.
b. From the Object Name drop-down box, select Account.
c. From the Operation drop-down box, select Upsert.
6. Map the following fields:
a. AVG of ASV to Benchmark ARR
b. Industry to Industry; then select Include in identifiers. In addition, map Industry values appropriately, if Industry is a picklist.
c. COUNT_DISTINCT of Id to Benchmark Size
7. Click Save; then click Run Now.
8. Enter the following details:
- Rule Date: today’s date will be automatically fetched.
- Test Run: select this checkbox to preview the results in your email. No actions will be performed.
- Send a copy of Rule Result email to: enter an email ID to whom you want to send a copy of the result
9. Click Run. The rule gets executed and data is populated in Benchmark ARR and Benchmark Size SFDC fields.
10. Navigate to Customers > [Click on the desired customer] > Summary.
11. In the above image, you can see that the ASV is $43,080, which is greater than the Benchmark ARR of $31,378. Therefore, this customer is paying more than the Benchmark ARR and you need not take any action. However, if the ASV value is lower than the Benchmark ARR, there is an upsell opportunity, and you can create relevant Opportunity CTAs. For more information on how to create CTAs, refer to Creating and Closing CTAs from Rules Engine.
In addition, you can also generate reports based on the Benchmark ARR and discuss the action plan for Upsell in any of your meetings.