It’s a simple formula. If Customer Success = CLV, and CLV = Valuation, then Customer Success is Valuation. But why?
As an individual starting their career in Customer Success, it’s very important to ask yourself why is customer success important and where might this career lead you? And as a young entrepreneur who is starting their business, it is also important to question what is it that most high-growth businesses get wrong in Customer Success? So what’s the answer?
As an individual starting their career in Customer Success, it’s very important to ask yourself why is customer success important and where might this career lead you? And as a young entrepreneur who is starting their business, it is also important to question what is it that most high-growth businesses get wrong in Customer Success? SO what’s the answer?
Work is an integral part of our day-to-day lives. It plays a major role in structuring our personal and social identity and is a means of livelihood. Steady income creates options and equips us with the power to access essentials such as food, electricity, education, etc., and non-essentials such as electronic devices, wifi, furniture, etc. For too many, it feels like a healthy work-life balance is simply unattainable. Checking and responding to emails at all hours, work meetings at dinner time, or being unable to separate from our work laptops on weekends… for so many, this has become routine. One may even say, “Isn’t that expected?”, but although it may feel like employees are required to do this, morally, ethically, and spiritually they aren’t (and they shouldn’t).
In just a span of a few months, Covid 19 had changed everything. From the way we meet our friends, travel, shop, eat, or even the way we work, everything is suddenly different. Even our business’s CS teams and our customers are no exceptions. Your customers are humans after all… just like your employees.
The role of a customer success manager i.e. a CSM has transformed drastically in recent decades. For starters, it’s no longer grounded to its traditional role of transforming customer engagement. Instead, it aims to forge strong relations with customers such that it helps businesses grow, making it an important pillar of growth. Today, the responsibilities of a CSM have become very demanding. It expects them to coordinate between different departments, onboard new customers, advocate for the company, drive renewals, encourage upsells and cross-sells, build deeper relationships with the customer, have the ability to produce reports on all activity at a moment’s notice, and so much more! In a job that challenges and expects someone to be at top of all things all the time, how does this get done?
Does your CS team still get blindsided by sudden termination notices even though they are heavily tracking customer health scores?
How does available bandwidth impact the optimal performance of a CS team? Is Bandwidth really the Miracle Cure for CS Burnout? Let’s find out!
In every successful customer journey, there comes a point when you know that your customers are ready for more. But imagine a troubling scenario where the upsell hints are being missed or lost in the data. This can be really frustrating when your customers have already been deriving value from your products or services for months. They are comfortable and satisfied in the current engagement but could certainly benefit from more. This is the critical point in the mutual business relationship but either the signals are lost or the subtle indicators of a golden upsell opportunity are left undetected and unacted upon!
As a marketer in 2021, you must have observed the rapid changes in the last decade. Today everyone in your target audience has access to complete information, and customers increasingly know the exact details of what they want. One of the new challenges for marketers is to project value accurately, even within the smallest details of a product or service. Without this level of attention, it can feel like game over.