Friday Q & A – August 5, 2016

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Friday Q & A – August 5, 2016

By | 2017-04-18T18:43:19+00:00 August 8th, 2016|Friday Q&A, News|0 Comments

Welcome and thanks for reading our Friday Round Up. Check back each week to read our responses to customer success questions. Have a question about customer success that you would like answered?  Tweet us your question @bolstrallc and include #TalkwithTim.

Screen Shot 2016-08-08 at 10.24.32 AM
The problem is when the world equates a CRM to a Sales Force Automation (SFA); however, CRM is so much bigger than just winning new customers.

Here is what we feel are the five main components of a CRM:

1. Customer Support (CS)

2. Marketing Automation (MA)

3. Customer Success Automation (CSA)

4. Sales Force Automation (SFA)

5. Professional Services Automation (PSA) – (SaaS has all but eliminated traditional service models)

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How do you engage your customers for their success as a CSM?

Before we discuss how to engage customers for their success, we need to first understand what customer engagement is. We believe that customer engagement is a process and apartnership between two organizations which enables the vendor to listen and effectively manage the individual needs of their customers.

With that in mind, good engagement begins with sales. At a minimum two questions must always be answered and on file for every customer:

1) Why did the customer purchase?

2) What does success look like for said customer?

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What are the customer success parameters to reduce churn?
I interpret that your question is regarding measurements. Obviously for any Customer Success team churn in dollars and logos is a top concern. However, what isn’t always discussed is why churn occurs, or when it is discussed, we tend to stay focused on the obvious reactions from our customers who are churning. I hear of frustrations with functionality, missed expectations and lack of follow through. However, I feel there is a deeper underlining cause of churn that isn’t being discussed openly. I would love to see some additional comments on this!

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About the Author:

Tim Conder

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