In today’s “subscription economy,” consumers want more than a month-to-month delivery of a product. Technology and services available for companies to do their work have advanced so much that the switching costs are no longer a deterrent. An 18-month go-live timeline can leave teams with a bad taste in their mouth and more susceptible to competitor encroachment. The B2B SaaS world has responded appropriately through the mass adoption of Customer Success--a discipline, a function and [...]
Ask 10 CSMs what success in their job means to them, and they will have 10 answers, ranging from: keeping my customers from churning onboarding my customers successfully helping my customers adopt our solution identifying opportunities within accounts for growth facilitating my customers’ attainment of outcomes managing the renewal process None of these are wrong. They are all part of many CSM job descriptions. However, to limit customer success to these roles alone is not [...]
In the B2B recurring revenue economy, customer relationships are increasingly owned by a team of professionals (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. As part of the charter for Customer Success, marketing teams are now joining the action to facilitate customer loyalty, too. In [...]
So my feeling on Graduation is that it’s less a post live meeting and more a post first value meeting. I would typically say that we are identifying a measure of first value that we want to achieve that impacts their business in some positive way in order to graduate. I think graduation is a step that both you and your customer will know you have reached once you have worked together to create and [...]
While there’s plenty of chatter about Customer Success being your “driving purpose” in a post-sales strategy, we have a slightly different take. Your customer’s success is a critical step on the road to garnering their loyalty and, ultimately, their advocacy. Attaining this end goal starts with how you manage your customer experiences. In a recent LinkedIn forum discussion, Customer Success enthusiasts debated the definitions of Customer Experience and Customer Success. As we ignite the fire [...]
WHY IS Launch IMPORTANT? Launch is actually more a customer status than it is an event. Rather than thinking of Launch as something you do with or for your customer, consider it a state of accomplishment where you can (or should) take a breath and feel as though you and your customer are at a good place for them to take off in using your solution. WHO NEEDS TO KNOW HOW TO DO Launch? Launch [...]
In our infographic series, we share research and statistics around the actual value of loyalty when it comes to customers.
As Customer Success teams evolve at a rapid pace - from fledgling ad hoc efforts to more repeatable and measurable strategic teams - we wanted to know how things were going out there. So, we surveyed teams to get a clearer picture on the state of things. Check out our findings.
WHY IS Core Enablement IMPORTANT? Core Enablement is the first step in ensuring adoption. Getting your customer administrators to own the platform creates a first line of sponsors and evangelists within the account. The better and sooner you can create master users of your admins, the more effective you can be in growing adoption throughout the account. While Core Enablement is about helping your administrative users understand how your solution works (behind the scenes), it’s [...]
WHY IS Rapid Prototyping IMPORTANT? Not every SaaS company does Rapid Prototyping for new customers, but we encourage it as an opportunity to be impressive right out of the gates. If your solution allows you to get a quick win with your new customer by focusing on a single area or part of your solution, you will start the relationship off with a bang that will have far reaching effects. WHO NEEDS TO KNOW HOW [...]
Once upon a time, in the world of perpetual licenses and revenue streams coming predominantly from new logo acquisitions, pipelines looked like this: In today’s subscription economy, existing customers represent 70+% of total ARR, and have a significant effect on revenue – both recurring and new. Consider the math. In the calculations below, COMPANY has an Existing ARR (EARR) of $0 and generates $1,000,000 in New ARR (NARR) in Year 1. NARR grows at a [...]
WHY IS Implementation Discovery IMPORTANT? You’ve kicked off your relationship with a new customer, and now it’s time to get tactical. Implementation Discovery is a step that can sometimes be forgotten, yet is extremely important. It’s an opportunity to catch things that may have been missed during the sales and kickoff steps, and validate the KPIs you and your customer have agreed to. Consider this the first tactical, down and dirty, meeting. What do they [...]