Customer Engagement | Onboarding | Adoption | Success Planning | Retention | Growth
A well-defined CX strategy combined with an effective Customer Success (CS) operating model can yield significant and tangible benefits including retention and expansion of existing relationships and the strengthening of your product and service reputations.
The current organizational structure of your Services team and alignment with other customer facing resources may inhibit your ability to retain customers and expand relationship value. Organizational alignment, increased cooperation, and shared goals are key to customer retention and revenue expansion initiatives.
Customer Success is a series of interrelated activities performed throughout the customer relationship lifecycle. This article identifies and defines critical success activities.
The terms Customer Experience (CX) and Customer Success (CS) are commonly used within the service industry. Sometimes CX and CS are used to describe the same or similar things and other times to describe complexly different actions, activities and outcomes. This article offers definitions for each term and identifies similarities and differences between CX and CS.
There are many approaches to achieve service success and each company must chart its own unique course. Regardless of the path, there are five principles that all companies must embrace. Every company must have an established CX plan, attainable goals, well-defined service programs, optimized service capabilities and the means to measure and improve performance. These five principles establish the foundation from which to define, execute and achieve tangible, positive service outcomes.
Net Recurring Revenue is a comprehensive indicator that reveals the extent to which you are retaining, expanding and growing customer relationship value. Examining the specific underlying elements that contribute to the calculation of Net Recurring Revenue provides the necessary insights to identify the root causes of churn, attrition and contraction. In addition, examining the reasons for revenue growth presents opportunities to embrace and expand practices that encourage expansion of relationship value.
The term Customer Success seems to permeate the industry with nearly every company engaged in some type of success initiative. The focus and awareness of Customer Success is timely and refreshing. This does not imply that technology companies have not been focused on making customers successful in the past, but this emphasis on Customer Success creates a new level of awareness and commitment to truly impacting customers’ ability to derive benefits from technology. Customer Success has profound implications for the ways that companies engage, serve, and retain customers.
This article introduces four key milestones to help you define essential Customer Success capabilities.
To successfully embrace subscription licensing models companies must adopt a subscription mindset. this article introduces the strategies and practices to make the successful transition to a subscription model.
If you are an executive at an information technology company you have a lot to think about on a day to day basis, but there are 5 more things that you need to be aware of.
Your service organization is an incredible source of metrics and measurements that describe ongoing interactions with your customers. They can tell you about the top concerns of your customers, the challenges they face using your products and the features they want to see in the future.
Service interactions with customers offer a wealth of insights into how to sustain and grow customer relationship value and create opportunities to differentiate your products. Of all the metrics your service team tracks there are 5 important areas that you should key a close eye on.
If you inventory all the metrics used by your customer-facing organizations – Sales, Marketing and Service – you will find an impressive collection of data elements that describe how you interact with your customers. Marketing metrics describe the ability to reach and influence customers; Sales metrics provide insights into the time and efficiency to book revenue; and Service metrics describe the volume, timeliness, and effectiveness of interacting with them. Add to this, insights provided from customer satisfaction assessment efforts. As an industry we have a lot of customer data, but does it tell us everything we need to know about how to engage and sustain long term profitable relationships?
When new customers purchase service agreements you must make certain that they understand how to access and use the services they are entitled to through a formal service onboarding process. This article introduces the best practices for service onboarding.
We have become too dependent on electronic surveys and NPS/CSat scores to tell us that our customers are okay. These are fine indicators but do not always tell us why we lose customers.