Introduction to enterprise customer success
Customer success is no longer nice to have. It’s a critical business imperative. Having customer success management is like having a crystal ball that tells about your customer satisfaction.
Subscription businesses rely on recurring revenue from existing customers. But in order to keep customers happy and engaged, they need to go beyond simply providing good customer service. They need to focus on customer success.
Your customer experience matters more than your product. And specially when we talk about SaaS product where the entire profit-making scheme depends on the user experience. Once experience is compromised, your product value becomes zero.
In this article, we’ll explore how enterprise customer success management strategy can create transformative magic for your SaaS business. So buckle up and get ready to unlock the power of customer success management—it’s time to change the game!
What is Customer Success?
Customer success is the process of helping customers achieve their desired outcomes with your product or service. It’s about understanding your customers’ needs and challenges, and then providing them with the resources and support they need to be successful.
A strong customer success strategy can help subscription businesses achieve a number of key goals, including:
- Increased customer retention: Happy customers are more likely to renew their subscriptions and continue doing business with you.
- Higher customer lifetime value: Customers who are successful with your product or service are more likely to spend more money with you over time.
- Reduced churn: Churn is the rate at which customers cancel their subscriptions. A strong customer success strategy can help you reduce churn and keep more customers.
If you’re a subscription business, you need to have a customer success strategy in place. It’s the key to growing your business and achieving long-term success.
Here are some specific steps that subscription businesses can take to implement a successful customer success strategy:
- Understand your customers: The first step to customer success is to understand your customers’ needs and challenges. What are they trying to achieve with your product or service? What are their pain points?
- Set clear expectations: Once you understand your customers’ needs, you need to set clear expectations for what they can expect from you. What kind of support will you provide? How often will you communicate with them?
- Provide ongoing support:Customer success is not a one-time event. It’s an ongoing process of providing support and guidance to your customers. You need to be available to answer their questions and help them troubleshoot problems.
- Measure and track your results: It’s important to measure and track your customer success results so you can see what’s working and what’s not. This will help you continuously improve your customer success strategy.
Enterprise Customer Success Management: 6 Keys to a Successful Pilot
1.Define main driving factor for your business
Customer Success is a broad term that can mean different things to different businesses. In a pilot program, it’s important to define specific goals for your CSM program that are aligned with your business objectives.
For example, if you’re a SaaS company, your pilot goals might be to increase customer retention, adoption, or expansion.
The table below provides some example pilot goals for different types of businesses:
|Business type||Example pilot goals|
|SaaS company||Increase customer retention by 5%, increase customer adoption by 10%, or increase customer expansion by 20%|
|Ecommerce company||Reduce customer churn by 1%, increase average order value by $5, or increase repeat purchase rate by 5%|
|B2B software company||Increase net promoter score (NPS) by 10 points, reduce customer support tickets by 10%, or increase customer lifetime value (LTV) by $10,000|
2.Choose the right customers
Not all customers are created equal when it comes to CSM. Some customers are more valuable than others, and some require more attention from your CSM team. Choose a group of customers that are a good fit for your pilot program.
|Value||Customers who spend a lot of money with your company, or who have the potential to spend a lot of money in the future|
|Engagement||Reduce customer churn by 1%, increase average order value by $5, or increase repeat purchase rate by 5%|
|Needs||Customers who have specific needs that your CSM team can help them with|
3.Set Clear Expectations
Define the scope of services. In order to set clear expectations with your customers, it’s important to define the scope of services that will be provided by the CSM program. This includes clarifying what services will be offered, the frequency of contact, and the level of engagement required from the customer.
For example, a high-touch CSM program might offer onboarding support, training, account management, and troubleshooting. These services would be provided on a weekly basis, and customers would be expected to respond to CSM requests promptly and provide feedback regularly.
In contrast, a mid-touch CSM program might offer onboarding support and training. These services would be provided on a monthly basis, and customers would be expected to respond to CSM requests as needed and provide feedback periodically.
Communicate expectations clearly. Once you have defined the scope of services, it’s important to communicate these expectations clearly to your customers. This can be done through a variety of channels, such as email, phone calls, or in-person meetings.
It’s also important to be transparent about the limitations of the CSM program. For example, you may not be able to offer 24/7 support or respond to every customer request immediately. By being honest about your capabilities, you can set realistic expectations and avoid any disappointment.
Customer Success Management (CSM) is a discipline that helps organizations retain, grow, and expand their customer base. CSM teams are responsible for providing customers with the support and guidance they need to achieve their desired outcomes with a company’s products or services.
In order to be successful, CSM teams need the right resources. These resources include:
- Customer data: CSM teams need access to customer data in order to understand customer needs and preferences. This data can come from a variety of sources, such as CRM systems, marketing automation platforms, and customer support tickets.
- Training: CSMs need to be trained on the company’s products or services, as well as on CSM best practices. This training can be provided through formal courses, on-the-job training, or a combination of both.
- Support: CSM teams need support from other departments within the organization, such as sales, marketing, and product development. This support can help CSMs to be more effective in their work.
Few Tools and resources that you must equip your team with:
- CRM software: CRM software helps CSMs to track customer interactions and manage customer relationships.
- Analytics software: Analytics software helps CSMs to track customer data and identify trends.
- Communication tools: Communication tools help CSMs to stay in touch with customers and collaborate with other team members.
- Documentation: Documentation helps CSMs to learn about the company’s products or services and to provide support to customers.
5.Define internal working system for your team
By putting these elements in place, you can create an internal working system that will support the success of your enterprise customer success pilot.
- Communication: It’s important to have clear and concise communication channels between all members of the team, including CSMs, sales, marketing, product, and engineering. This will help to ensure that everyone is on the same page and that customer needs are being met.
- Collaboration: CSMs need to be able to collaborate effectively with other team members in order to provide the best possible customer experience. This can be done through shared tools and resources, as well as regular meetings and check-ins.
- Processes and procedures: It’s important to have well-defined processes and procedures in place for CSMs to follow. This will help to ensure that they are providing consistent and efficient service to customers.
- Technology: The right technology can help CSMs to be more productive and effective in their work. This includes tools for customer relationship management (CRM), analytics, and communication.
- Training and development: CSMs need to be constantly learning and growing in order to provide the best possible service to customers. This includes both formal training and on-the-job learning.
6.Feasibility of Data Utilization
The feasibility of data utilization depends on a number of factors, including the availability of data, the quality of data, the resources available to analyze the data, and the skills of the people who will be using the data.
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Availability of data
The first step in any data utilization project is to assess the availability of data. This includes identifying the data that is available, as well as the quality of that data. Not all data is created equal, and some data may be more useful than others. It is important to assess the quality of the data to ensure that it is accurate and reliable.
Quality of data
Once the availability of data has been assessed, the next step is to assess the quality of the data. This includes checking for errors, inconsistencies, and missing values. It is also important to assess the relevance of the data to the project goals. Not all data is relevant to every project, and it is important to focus on the data that is most likely to be useful.
Skills of the people who will be using the data
The final step is to assess the skills of the people who will be using the data. This includes the technical skills needed to use the software and hardware, as well as the analytical skills needed to interpret the data. It is important to make sure that the people who will be using the data have the skills they need to be successful.
Customer success is not only about numbers it is also about the strength to forge bonds. A robust customer success strategy is the roadmap to achieve the results you’ve committed to your brand success. So if you’re still thinking to begin you customer success journey, stop thinking right now as Shannon Nishi, Director of Customer Success at Customer.io said
“I don’t think it’s ever too early to start thinking about scaling. It’s just a matter of figuring out the biggest impacts to the customer journey and what we can reasonably accomplish with the team that we have today.”
It’s all about keeping your customer satiated and paying a lot of attention. If you pay close attention to your customers, understand their needs thoroughly, and collaborate with them to achieve their goals, creating a customer success program will be straightforward. This will result in the advantages of fostering long-term client relationships.