What does Customer Success mean in your line of business?
- For a services company, this could be success of their customer’s customer.
- For the accelerator, it was getting their portfolio company to a revenue target, such as $1M in ARR.
- For the product company, it meant both increased adoption of product, as well are deriving specific value from the product.
Would you agree that Customer Satisfaction brings short-term loyalty, and Customer Success leads to long-term loyalty?
- Have some guiding metric, whether it is CSAT or NPS, to initiate the process.
- Ruthlessly dig into feedback you’re getting from customers to identify where you may have potential issues, and what needs fixing first.
- Engage with your customers across many channels, and don’t be afraid to talk to your customers, whether in person or over phone, to get a pulse.
- If possible, invest in the appropriate Helpdesk or Customer Success tool that can give you a up to date pulse on challenges that your customers are facing.
- Build gratification and success milestones inside the product; this way, as users use the product, they get a sense of achievement and accomplishment.
What steps can one take to bring Customer Satisfaction or Customer Success?
- Simply monitor and respond on the channels you are communicating with your customers. This could be via email, forums, a simple help-desk, social media, phone lines, and more.
- The tool is not important; the attitude of listening and working with your customers is. If need be, pick up the phone and talk to them, understand their challenges, and solve for them as soon as possible. The most important thing is to be responsive and easily reachable.
- Yes, a simple metric (such as NPS or CSAT) can help guide the Customer Success process, as it helps focus your attention to areas which need most attention. Customer Success tools can be implemented later.
Should Customer Success teams have revenue targets?
- Retention is core to Customer Success, so there is implicitly a revenue target for the team, so many companies prefer to explicitly call it out.
- When you are a young, single-product company, the opportunities for cross-sell hardly exist. Upsell is a possibility, but that target can reside with Sales too.
- As you gain some maturity as an organization, Sales teams get specialized in their roles, with hunting and farming teams separated out. In these scenarios, they can take ownership of upsell and cross-sell revenue.
- However, retention targets and the revenue associated with extended contracts stays the responsibility of the Customer Success team.