Customer Success ROI
Customer Success professionals are frequently found stating why their efforts and operations are valuable to the collective organization. Executives want to know why they need to implement a new team, and what they’re going to get out of it. This infographic serves as a quick summary of everything CS brings to the organization – just reduced churn should be good enough, but the additional benefits of increased employee morale, increased product adoption & usage, and increased revenue via more upsells and cross-sells speak for themselves.
While implementing the new processes and training the team, apply the customer success strategy of choosing a few KPIs that accurately assess how your team is performing. By observing changes and trends, you can determine which practices work, and which should be phased out and primarily focus on client churn. Routine actions that need to be performed in every company, in every Customer Success organization have to be automated. This will bring a dramatic improvement in the Customer Success professionals productivity.
In the SaaS world the primary reasons for canceling subscription is bad customer experience. If one closely observes, you get to know that it’s neither the product nor the service that the company offers that matter as much as the customer support. This implies that in a SaaS company the most important department is the SaaS customer support. Your knowledge base- live chat, support widgets, videos, tutorials, FAQ should allow customers to help themselves. So, that your trained support team can work on crucial issues and on building a lasting relationship. In a broader sense, what is expected from customer support is to resolve a greater number of issues at its earliest and at the same time maintaining a consistent quality of service. In such a case, it’s best to invest on a customer support automation. This allows your customer support team structure to get beyond the daily grind of repetitive activities, and focus on more productive account expanding activities. With constant updates on customer health in real-time, you’re never unsure of a customer’s status or their happiness levels.
While building a customer success organization structure include practicing a customer centric mindset across the company. In your success framework, lay out how to engage with the customer throughout their lifecycle to help them achieve success, drive adoption and business-minded outcomes. Always listen to your customers because customer loyalty increases when you listen to them. Invest in developing or hiring Customer Success professionals because the most effective Customer Success professionals become the trusted advisors of their customers. Besides, they are responsible to look out for upsell/ cross-sell opportunities. Prepare a library of KPI and adoption dashboards that can be tailored to a customer’s desired outcome. Another very important tool kit that can help you be proactive is tracking customer’s usage pattern. In fact, this is a key attribute in predicting customer churn model. An Early Warning System, that alerted CSMs when usage dropped, or in identifying the challenges with the stickiness factor of your product.