Customer Success Defined
Customer Success is a strategy to maximize customer retention and create opportunities for revenue expansion within the customer base. It is not simply an organizational structure, process, team, or job description. Customer Success is predicated on the understanding that a significant portion of revenue and growth comes from existing customer relationships and that for technology vendors to grow relationship value their customers must be able to apply and succeed with the products they have purchased. Customer Success encompasses practices for engaging, serving, retaining, and expanding customer relationships. The primary measures of Customer Success are retention and growth of recurring revenue streams and expansion of customers’ relationship value.
Is Customer Success Right for Your Business?
Customer Success is a critical methodology for companies that depend on recurring revenues from license, maintenance, and other service subscriptions. Customer Success is not however just for companies that sell products as-a-Service. Companies that sell perpetual software licenses, equipment and devices can benefit from Customer Success to drive product adoption and to assure maintenance contract renewals.
How to Succeed with Customer Success
Customer Success does not just happen – you need a plan. The foundation for an effective Customer Success initiative is a clearly defined strategy. The Success strategy must: Define what you expect to accomplish; Justify why it makes good business sense; Articulate the resources and changes required to execute; and explain how Success performance will be measured. Define your strategy, develop the plan, and gain champions and sponsors.
ServiceXRG offers a wealth of expertise and research to help you develop and execute an effective Customer Success strategy.
Define your Customer Success strategy
Inventory current success-focused capabilities and practices
Develop a framework for Customer Success
Let ServiceXRG guide you on your journey to customer success
Customer Success Operating Model
What it is
The Customer Success Operating Model™ is a framework that defines the processes and procedures necessary to engage, retain and grow customer relationships through service excellence. The model consists of the following Success functions: Customer Engagement, Service Delivery, Customer Retention, and Relationship Growth. Essential procedures and processes are defined for each Success function. Use the Success framework to personalize and optimize Customer Success for your business.
Why you need it
ServiceXRG’s Customer Success Operating Model provides the blueprint to develop, operate and optimize Customer Success. Each element of the Customer Success Operating Model defines the practices, tools, staffing and measures of success you need. Whether you are building a new Customer Success organization or transforming existing service capabilities, the Customer Success Operating Model provides a framework for your success with Customer Success.
How ServiceXRG Can Help You
ServiceXRG will help you define, implement, and optimize Customer Success to sustain and grow profitable customer relationships. We apply our in-depth research and expertise to help justify investments in Customer Success capabilities; We apply best practice elements from our Customer Success Operating Model; We assure continuous improvement and optimal outcomes through ongoing assessment of Success capabilities.