Time has arrived for our monthly customer success roundup for February. We have an amazing collection of articles lined up for you, with great tips on: How to utilize customer success stories for branding and marketing; how to use customer success staff to improve the company’s ROI; A new trend in the customer success world of creating designated professional customer advisory board to boost your executives.
Today’s costumers have a wide variety of products and services to choose from when looking for a suitable solution for their needs. But today’s subscription economy brings with it more challenges than before. Customers typically have many options to choose from when selecting a service, and when it comes to subscription based services, switching costs are frequently minimal while brand loyalty is pretty much non-existent. In this article, Tony Campbell examines 10 ways to stand out in the sea of solutions.
Strategy is crucial if you want a customer success team to achieve long term goals. According to Burke Alder, this is as important for new teams as it is to veteran teams. Just before every quarter reaches to a halt it is a healthy habit to simply stop and review what has been done so far. The last couple weeks of every quarter should be reserved for closing deals and renewing contracts.
Value, in our case, means price, and according to David Brock, this puts a halt on your customer success efforts. Your sales and marketing teams try to fight their competitors on the most attractive price with the hopes for the customer to catch the bait. If the customer is convinced that the only difference between certain products and brands is just the price, he or she will probably go for company that offers the lowest one. But it is never the only difference, and in order to really stand out, you must make sure your future customers see your added value.
CS teams are the foundation brick of successful customer retention. They are the ones who best know your company’s customers. They speak to them regularly, understand their painpoints and challenges, and can also best identify the ROI for the company when working with each customers (is the effort put in helping their integration and usage worth the money we’re getting from working with them?)
This article shows how customer success teams can not only help customers, but also use customer insights for the company’s advantage, without making other teams and departments feel as if you’re stepping out of line.
As customer reviews and testimonials become gradually common on every website, the strongest marketing tactic became communicating your customer’s successes. Dan Trefethen claims to have discovered the best formula for using your existing customer success as a method for both marketing and branding. He shares it in this great post.
Turning customers into loyal brand supporters requires the establishment of long-term relationships. In fact, the probability of selling to an existing customer, either through upselling or cross-selling, is 60-70% versus a 5-20% probability of selling to a new prospect.
Up-selling involves offering your client a higher-end version of the product they are already interested in whereas cross-selling is offering additional products that can be beneficial to them. To help you achieve this, use these 5 tricks of up-selling and cross-selling to keep your customers happy and your revenue high.
Customer success and customer service are frequently interweaved. However, while both focus on existing customers and their interaction with the product, the customer success teams, and CSMs especially, have to avoid the reactiveness and develop a true long lasting relationship with their clients.
These 5 habits, presented by Sam Feil, can help any CSM avoid the trap of reactiveness, and reach the next level in both managerial and professional sense.
Building a brand story through customer success – now that is a mouthful. When managers want evidence that another company can help them achieve better and faster success, they want evidence. So they look at other customer success stories and imagine themselves in their shoes. This B2B content strategy is combining the power of content marketing with the essence of customer success. This article by Jonathan Crowl lists 5 fantastic examples of global giants who employ this specific strategy.
A Customer Advisory Board (CAB) can perform like a regular research panel of decision makers, providing continuous customer opinions that is undeniably vital to build a long-lasting business. The expertise of the CAB is to assist executives to better comprehend the difficulties and improve the situation rapidly.
This article by Burke Alder shows how CABs have proven again and again that when utilized properly, they can rapidly increase customer satisfaction.