Customer Retention

/Customer Retention

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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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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The Best Defense is Great Offense

By | 2019-05-09T21:41:30-04:00 April 24th, 2019|Customer Retention, Customer Success|

How Customer Success Uses Playbooks to Mitigate Churn In the recurring revenue economy, negative churn is the name of the game. This is more than retaining customers. It’s about creating consistently excellent customer experiences that lead to a strong sense of loyalty and the willingness to advocate on your behalf. Customer advocates are the key to negative churn. Customer Success Managers lead the team in making sure all those responsible for the overall experience of [...]