One of the key reasons why customer success is important in driving long-term company growth is because customer expectations of value are increasing every year.
Customer success is a relatively new concept in the business world, but it’s one that is quickly gaining traction. And for good reason! Customer success teams are responsible for ensuring that customers are getting the most value out of your product or service.
This comprehensive guide will show you why customer success is important for the growth of your Saas business.
Why customer success is important: the essential guide to customer success
Everything you need to know to create healthy customers for your life.
“Customer Success” is a buzzword in B2B. But unlike other temporary terminology, it’s not going away. It’s actually becoming a key factor in all types of businesses. It can make the difference between Saas companies going bankrupt and achieving mega-growth.
Why are businesses so desperate for customer success?
“Success is not about losing your enthusiasm, but moving from failure to success.”Winston Churchill
- Technology implementation
- Real-time visibility into customers’ “health” is possible by using a combination usage data and contextual inputs
- Adoption of outcomes-based metrics and processes at company-wide level
Customer success vs. account management
“The difference between Customer Success & Account Management is like the difference between a backyard observatory and the Hubble.”
Customer success vs. customer experience
- Understanding the how
- Understanding the why
- Data can be used to make sure the customer does everything better
Customer success enhances the renewal process
“Businesses are constantly faced with renewal sales processes. Customers often wonder if they should be paying for the subscription when they see the monthly, quarterly, or annual subscription payment. Renewal conversations are more frequent than perpetual software sales.
Revenue is driven by customer success
“Customer success is where 90% of the revenue is.”
“The majority of your revenue from customer relationships happens after the sale.”
How does customer success work?
- Customer Success Solution : A software platform that collects data and makes it visible. This could include communication tools and workflows.
- Customer Success Strategy – An organizational-level tactical approach.
- CS Team – The professionals pulling it off.
Customer success strategy
- What is your customer experience like now?
- How can CS affect your customers and their experience?
- Which content and communication channels do your customers prefer?
- What is the best rhythm to engage customers and monitor them throughout their lives?
Customer Success Teams
- The product team creates tools that the user actually wants and needs.
- Marketing brings in the right leads.
- Sales can effectively position the product and give a pitch that will really land.
- Sales engineers and presales work together to close the sale.
- Professional services that offer “customers software customization” and training.
- Customer Success Managers who help customers grow and nurture their accounts.
- Learning team offers ongoing customer support with best practices, knowledge bases, and webinars to maximize product usage and drive customer retention.
- Customer Support Representatives
- Representatives for implementation or onboarding
- Training representatives
- Professional services experts
- Reps for upsell and cross-sell
The benefits highlighted above are some of the reasons why customer success is important. By investing in customer success, you can increase your customer retention rates, improve customer expectations, boost customer satisfaction scores, and generate more upselling and cross-selling opportunities. In other words, it pays off!