Bolstra

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So far Bolstra has created 27 blog entries.

Adopt: Vision Management

By | 2019-08-29T20:57:43-04:00 August 29th, 2019|Customer Success|

WHY IS Vision Management IMPORTANT? Typically, businesses define and utilize vision statements both internally and externally. Internally, a business’s vision guides the thinking for strategic issues and employee decision making. It also should inspire employees as they share common goals. Externally, the vision can be used to enlist support and improve communication with customers and partners. In the context of Customer Success, vision management is guiding and modifying your strategy and philosophy for working with [...]

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Personalization vs. Getting Personal

By | 2019-08-20T10:30:33-04:00 August 20th, 2019|Customer Loyalty, Customer Retention|

Customer Acquisition and Customer Retention Require Both Back in the 1970s, my father ran a cutting-edge direct mail company. Creative Mailing Consultants of America (CMCA) relied upon a massive computer that not only generated address labels at an unprecedented pace, but also “personalized” the direct mail pieces. Instead of “Dear Sir or Madam”, the pieces actually had the first name of the recipient in the salutation. Marketing, sales and customer retention have come a long [...]

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Increasing Customer Retention for Managed Service Providers

By | 2019-07-29T10:10:17-04:00 July 24th, 2019|Customer Retention|

Why Customer Success is an Ideal Fit for MSPs Check out TSIA’s findings about the retention rates of Managed Service Providers with and without a dedicated Customer Success Manager. The numbers speak for themselves. Jeff Connolly, senior director of managed services research for TSIA, sums up why Managed Services lends itself to a Customer Success model for delivery: Unlike most other lines of services within a provider’s portfolio, managed services has always had an intimate, [...]

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5 Ways Managed Service Providers Can Retain More Customers

By | 2019-07-24T11:27:25-04:00 July 9th, 2019|Customer Retention|

Because the term “Managed Services” means different things to different people, let’s start by explaining what we mean by it before we get ahead of ourselves. Traditionally, Managed Services refers to the outsourcing of technical duties to support the use of software and/or hardware. Instead of using a “break-fix” or on-demand approach, these services are delivered through a subscription or retainer model, often times outlined through a Statement of Work (SOW) that describes the goals, [...]

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Forecasting

By | 2019-06-26T11:34:26-04:00 June 26th, 2019|Agile Customer Success|

WHY IS Forecasting IMPORTANT? Accurate forecasting is vital in a recurring revenue business because it informs budgeting, staffing, strategy, and even roadmapping. Relying upon your gut or incomplete or faulty data to forecast revenue can result in disconnections in priorities and performance (which can have adverse effects upon customer experiences). In turn, poor forecasting, can ultimately result in increased attrition and diminished returns. WHO NEEDS TO KNOW HOW TO Forecast? Customer Success leaders (Directors, VPs, [...]

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Metrics and Measurement

By | 2019-06-13T10:05:31-04:00 June 13th, 2019|Customer Success|

WHY ARE Metrics and Measurement IMPORTANT? While Customer Success management is NOT Customer Success measurement, there’s no getting around the importance of measurement and assessment to know what you need to do to retain and grow healthy customers. Some metrics are more informative of customer health than others. We have the capabilities of extracting voluminous data about our customers, but more isn’t always better. It’s important to know which data to track and, perhaps more [...]

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Objection Handling

By | 2019-05-30T09:43:11-04:00 May 30th, 2019|Customer Loyalty|

WHY IS OBJECTION HANDLING IMPORTANT? Because it’s rarely the case that a prospect becomes and remains a customer permanently without voicing some concerns, Objection Handling is a vital skill for both sales and any account management role. As it relates to Customer Success Management, Objection Handling is as much about proactively identifying potential objections and mitigating them, as it is about handling them when they arise, and even converting potential detractors into promoters. WHO NEEDS [...]

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Red Zone or Dead Zone?

By | 2019-05-21T10:49:41-04:00 May 21st, 2019|Customer Retention|

Identifying and Rescuing the Right At-Risk Customers Do these scenarios sound familiar to you? Your customer engagement team meets weekly to discuss a game plan for customers who are at risk of churning. Each member of the team has access to spreadsheets that document all the touchpoints, support tickets, survey, usage and any relevant anecdotal data about the customers who are within months of renewing. The team then makes decisions about who and how to [...]

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Investing Appropriately in Customer Success

By | 2019-07-29T10:16:27-04:00 May 8th, 2019|Customer Retention|

Why and How to Find Budget for Customer Success Software There’s no longer a debate in the recurring revenue economy about the value of existing, loyal customers. Retaining more customers who serve as advocates and contribute to your growth rate produces more total ARR over time. Consider the simple math comparing a company with a 90% retention and 20% growth rate with another company whose retention rate is 100% and whose growth rate is 30%. [...]

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Conflict Resolution in Customer Success Management

By | 2019-05-09T21:41:30-04:00 April 19th, 2019|Agile Customer Success, Customer Success|

WHY IS Conflict Resolution IMPORTANT? Customer Success is built on a balanced relationship of “value given” and “value received.” When this balance is disrupted, real conflicts can occur, or potential conflicts can be perceived. While it’s ideal to preserve the balance and avoid conflict, it’s highly likely that there will be times within your relationship with your customer that harmony is elusive, and something must be done to restore the equilibrium of the relationship. It [...]

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Ease of Administration and Configuration are Key Criteria for Evaluating Customer Success Software

By | 2019-05-09T21:41:31-04:00 March 11th, 2019|Customer Success|

Investing in enterprise software of any sort (CRM, Support, Marketing Automation, Customer Success) is no small task. Nobody wants to purchase the wrong software. Even with the relatively low costs of SaaS subscriptions, wrong purchases can be very disruptive. Some real costs of purchasing the wrong software include: replacement or dual system cost the cost of selecting another new software retraining and re-implementation costs business disruption costs lost opportunity costs career opportunity costs Smart purchasing [...]

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SaaStr 2019: Questions, Answers and Considerations from a Customer Success Vantage Point

By | 2019-05-09T21:41:31-04:00 February 22nd, 2019|Customer Success|

Our sales team just got back from SaaStr 2019 in San Jose last week. Aside from appreciating the change in scenery (we hail from Indiana), they saw the experience as an opportunity to see the SaaS industry from the inside, and validate why we do what we do. As a Customer Success Management platform, we had the lens of learning how B2B SaaS companies are figuring out how to retain more loyal customers. With an [...]

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