Are Your Customers Leaving?
CultureSparq.com | We Build The Culture
Why You Need Customer Success
WHAT IS CUSTOMER SUCCESS?
Simply put, it’s a business strategy ensuring customers achieve success, their desired outcomes while using your product or service.
If you are an executive looking to boost revenues or a sales rep looking to give your customers a better experience so they can become loyal customers — this quick read is for you.
KEY ROLE
Customer Success Managers are critical to your business success. They will work to improve customer happiness and loyalty by helping customers succeed. We suggest your Customer Success Managers tie their objectives directly to your bottom line by measuring the outcomes and hold them accountable for reducing churn rates, improving renewal and customer satisfaction.
CUSTOMER SUCCESS
We need to understand the benefits of what “Customer Success ”does for your business. Customer success has the power to help you grow your base of advocates and promoters. Customer success is linked directly to your customer satisfaction and when your customers are thriving, everyone wins.
How do you get this done. We do this by focusing the customer journey by giving a remarkable or memorable experience. We believe this is best done by building a customer lifecycle structure using these three stages — Pre-Purchase, Purchase and Post-Purchase which we will cover in another post.
This type of structure allows you to not just focus on customer acquisition but also on retention - an area most companies spend little time doing. The Customer Experience includes all aspects of the customer journey, from the moment they first become familiar with your company and its products through the actual sale and beyond.
One way to be effective in this structure is to establish your objective and key metrics to learn where you can increase customer success. Let’s take a look at a few areas to keep from losing your customers.
3 KEY AREAS
To begin building your customer success framework, we encourage you to set three key metrics to get customer data to measure your success throughout each stage.
Customer Health Score, this can help you determine if customers actually seeing value from your product or service.
Customer Churn Rate, this is great metric to measure if your Customer Success Managers are maintaining a healthy relationship with each of their clients.
Customer Satisfaction Score, this will give your business a high-level idea of how customers feel after completing an interaction with the Customer Success team.
Implementing these three metrics for increasing customer success can proactively lead to better retention rates and greater customer experience. Keep in mind, to create the most impact, an effective customer success management structure will be base on customer data.
We Build The Culture to mobilize your customer success team to thrive at giving your customers a better experience with your products/services and brand. CultureSparq can help you get started. Don’t lose another customer - reach out today to learn how.
Let’s get on a call. Schedule a 1-on-1 with Chris Campbell to learn how we are mobilizing a winning culture.