* This article is part of a White Paper called “How to Tackle the Top 5 Pain Points of Customer Success Managers.”
Renewals, cross-sells and up-sells all contribute to improve the total lifetime value of a customer. As already discussed, TLV is the most important metric when it comes to the long term success of a SaaS business.
Most SaaS applications have a popular subscription package and some elite or premium subscription packages. It is easy to argue that all a SaaS tool needs is a base of good customers.
However in the practical world, revenue is the ultimate deciding factor. And profits come when existing clients choose more feature rich options.
This pain point is a conundrum for CSMs. Their job is to play the role of the considerate well-wisher. Thus if they need to keep track of quotas, they can sometimes become too aggressive and hasty. The remedy again requires a paradigm shift – very much like the problem of inefficient onboarding.
Customer success (and thus optimal usage of the application) and renewals and up-sells need to be delegated to two separate teams which strategize with each other to hit the perfect note with subscribers. Thus:
- CSMs can oversee client satisfaction and subscription managers (a suggested title) can take over renewals.
- A CSM must constantly monitor the client’s behaviour on the platform and set some qualifying actions which can indicate a readiness or acquiescence to talk to the subscription managers.
- A CSM must also lay the groundwork for the subscription managers by casually pointing out product features or plugins which can serve the newly developed needs.
- CSM performance can be judged by churn rate and the performance of subscription managers should be tracked through the revenue generated. This provision ensures that by the very definition of success, the teams can concentrate on areas important to them and be accountable to the management for the right reasons.
SAP’s Ariba is a vanguard in the field of procurement solutions. As a CSM in charge of persuading an existing customer to try the advantages of the option for ERP integration, WalkMe can be leveraged to create a complete Walk-Thru discussing the benefits of this functionality in real time. Visual stimulation has a higher impact than verbal communication or text and the selfpaced nature of the Walk-Thru makes it easy to engage with and easy to recommend.
This article is part of a White Paper called “How to Tackle the Top 5 Pain Points of Customer Success Managers.”
Claim your free copy by filling the form below.
The White Paper covers a range of topics including:
Chapter 1: Onerous Onboarding
Chapter 2: Overwhelming Support Requests
Chapter 3: Tackling the Churn Demons
Chapter 4: Software Upgrades and Updates
Chapter 5: Promoting Renewals and Up Sells