Ask 10 CSMs what success in their job means to them, and they will have 10 answers, ranging from: keeping my customers from churning onboarding my customers successfully helping my customers adopt our solution identifying opportunities within accounts for growth facilitating my customers’ attainment of outcomes managing the renewal process None of these are wrong. They are all part of many CSM job descriptions. However, to limit customer success to these roles alone is not [...]
In the B2B recurring revenue economy, customer relationships are increasingly owned by a team of professionals (Customer Success Managers) who earn customer loyalty by continuously demonstrating the value of their solution to their customers. Ideally, they have a defined customer lifecycle as their model for customer engagement, and in doing so, are churn mitigators. As part of the charter for Customer Success, marketing teams are now joining the action to facilitate customer loyalty, too. In [...]
So my feeling on Graduation is that it’s less a post live meeting and more a post first value meeting. I would typically say that we are identifying a measure of first value that we want to achieve that impacts their business in some positive way in order to graduate. I think graduation is a step that both you and your customer will know you have reached once you have worked together to create and [...]
While there’s plenty of chatter about Customer Success being your “driving purpose” in a post-sales strategy, we have a slightly different take. Your customer’s success is a critical step on the road to garnering their loyalty and, ultimately, their advocacy. Attaining this end goal starts with how you manage your customer experiences. In a recent LinkedIn forum discussion, Customer Success enthusiasts debated the definitions of Customer Experience and Customer Success. As we ignite the fire [...]
In our infographic series, we share research and statistics around the actual value of loyalty when it comes to customers.
As Customer Success teams evolve at a rapid pace - from fledgling ad hoc efforts to more repeatable and measurable strategic teams - we wanted to know how things were going out there. So, we surveyed teams to get a clearer picture on the state of things. Check out our findings.
Customer Success Managers keep a lot of balls in the air over the course of their days. They perform a variety of tasks to keep customers delighted, and frequently face surprises in the midst of their well-planned routines. Consider what the typical day looks like for two Customer Success Managers: one who performs his job piecing together account information from a variety of sources, and the other who is supported by an agile work management [...]
Once upon a time, in the world of perpetual licenses and revenue streams coming predominantly from new logo acquisitions, pipelines looked like this: In today’s subscription economy, existing customers represent 70+% of total ARR, and have a significant effect on revenue – both recurring and new. Consider the math. In the calculations below, COMPANY has an Existing ARR (EARR) of $0 and generates $1,000,000 in New ARR (NARR) in Year 1. NARR grows at a [...]
We know that Customer Success teams are being formed and developed at a rapid pace. XaaS companies are no longer debating the value of a dedicated expert services team to work with customers to generate and sustain a continuously valuable experience. While the debate about whether to have a Customer Success team within your organization is subsiding, the questions about how to DO Customer Success are mounting. In response to these questions, Bolstra delivers The [...]
Check out our latest infographic, the Customer Success Maturity Model. The infographic details the maturity of an organization's ability to respond and predict their customer's success through the use of people and technology. You can also take our free assessment to find out where your company stands. Take the Assessment
Why use NPS? The Walker Survey report Customers 2020: The Future of B-to-B Customer Experience vouches that “by 2020, the customer experience is predicted to overtake both product and price in distinguishing one firm from another.” There’s no getting around the business case for helping our customers be successful. If they lose, we lose. Conversely, as their success goes, so does ours. There are myriad theories on how to delight our customers. How, though, do [...]
Why Isn’t a CRM an Effective Tool for Customer Success? We get asked this question a lot. So, we thought we’d take the time to provide some education around the many types of tools that businesses use to manage their customer (and prospect) relationships, and why, specifically, a tool for sales doesn’t work for customer success. First, some basic definitions: Customer Relationship Management (CRM): a comprehensive term that refers to all the ways a business manages [...]