When 20 percent of existing customers account for 80 percent of your future revenue, it’s vital to keep them engaged and satisfied. While this may fall under the label of ‘Customer Relationship Management’ at your organization, many organizations are now referring to this function as ‘Customer Success.’ Customer Success Management entails much more than checking in with a customer periodically to see if they have questions or issues with your solution. It’s a process which is dedicated to delivering continuous value to customers. Increasingly, this process is being supported with platforms designed specifically for enabling your best Customer Success practices.
Operationalizing customer success with a platform that not only helps reduce churn, but also facilitates an increase in Annual Recurring Revenues (ARR) is an investment in your future as a XaaS provider. There are several customer success platforms on the market now, and figuring out what works best in your organization is challenging. I’ve spent some time understanding the offerings, and have identified five things you should look for when evaluating a solution to support your Customer Success efforts: