In the B2B recurring revenue economy, customer relationships are increasingly owned by a team of professionals (called 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. In an effort to improve Customer Success (CS), marketing teams are joining the action to facilitate customer loyalty, too. In collaboration with their CS [...]
Customer Loyalty is a Critical Aspect of Marketing That Needs to be Nurtured in This Age of Marketing Noise Today, customers are way closer to their preferred brands than they were ever before, thanks to the promotions and ads targeting them. The plethora of purchase options available offline and online empowers a customer to make their choices. With more brands fighting it out for customer attention, the power of Customer Loyalty is unprecedented, in modern [...]
Did you ever run a lemonade stand growing up? If not, you can surely recall seeing the scenario play out on TV or in a movie: A small child tries to peddle lemonade for a quarter -- it’s young entrepreneurship at its best. What do you do when you happen upon the adorable and smart neighbor who regularly sells lemonade on the corner to raise money for a team fundraiser, for example? You stop and buy some, [...]
Tell us about your role and how you got here. What inspired you to start a B2B SaaS Customer Success company? When I was the Chief Revenue Officer at a SaaS company, we were excelling at acquiring new business, but we weren’t garnering the renewals we wanted. You might say, we had a leaky bucket. We could point our fingers at a slow (poor) implementation process, but I knew this wasn’t a software problem. It [...]
Fast-growing customer success platform company Bolstra announced last month that it closed a $1.5 million seed funding round and that software-as-a-service (SaaS) industry veteran Steve Ehrlich joined the company as chief operating officer.
Bolstra LLC, a Carmel-based software-as-a-service company, said Wednesday that it has received $1.5 million in a new round of seed funding and added veteran tech executive Steve Ehrlich as chief operating officer.
Executives from Top Marketing Technology Companies Participated in Our Predictions Series 2018 and Identified the Top Challenges That Marketers Would Face in 2018 In 2018, what would be the best “personality” to define you as a marketer– an angler, a crossbow hunter, a weekend rockstar, or a Zen monk. Well, whatever quality best suits you may not make that much of a difference if you (your marketing campaigns) fail to deliver customer experiences with a context, [...]
Bolstra, an agile customer success platform for subscription service companies, today announces the results of a recent survey, “2018 Customer Success Team Maturity”. The survey includes findings from a sample of customer success teams across industries about their current states. Most notably, of customer success teams surveyed, more than 60 percent of respondents said they wouldn’t know about a critical customer issue until days after it happened, a customer brings it to their attention, or [...]
The following is the second (of three) parts of an interview with Bill Godfrey in which he reflects on the history, current state and future of customer success. It focuses on Bill's assessment of the current state of customer success. The third part will offer his counsel for current SaaS companies trying to reap the true value of an expert services team. The first part of the interview is a reflection on his personal experiences as an [...]
When it comes to customer renewals, are you taking a chance by rolling the dice on your customers’ experiences? Games are fun but customer retention isn’t a game. Your customers are relying on you to provide a consistent experience, a sure thing. When you create a strategy that guarantees the delivery of a consistent and superior customer experience, you stop gambling and start ensuring customer renewals and bolstering loyalty. The results are exponential increases in [...]
When you ask a COO or CFO about capacity planning for customer success, it can get dicey. They may be completely on board with investing in a customer success team, but they really don’t want to add to their COGS dramatically. They are sold on the premise that a well-chartered and instantiated CS team can be cost neutral or even a profit center, but they need to validate the numbers. They wonder what the real cost of each Customer [...]
Historically, the sales funnel has been considered linear. Prospects turned into leads, leads turned into customers, and customers became repeat buyers. But, processes evolve and so has the sales funnel, especially in the SaaS world. Prospects don’t just come from cold calls anymore. More than ever, prospects are referred from existing, loyal customers. Loyal customers are created through a multitude of ways – one of which is a customer success program. Beyond simply managing a customer’s account and [...]