In order for a business to be successful, there are many things that have to be prioritized. One such area that many organizations often overlook is customer success. Without adequate focus on customer success, businesses can experience rising customer churn rates, a decline in sales and suffer from a negative reputation.
First, in order to understand why this is important, businesses must understand what focusing on the success of the customer entails, and how it is different from customer service.
What is Customer Success?
This is a term that is used to describe the customers meeting their goals and expectations with a service or product that is being advertised. For example, if an organization is selling a product that is designed to help aid in cleaning the kitchen, customers will expect just that. If there is no noticeable change in the kitchen, success rates will be lower.
Success is different from customer service in that customer service focuses on handling specific issues that a customer may experience while engaging with the advertised product. Usually, businesses will have dedicated customer service teams to handle queries that are sent in by customers.
Having a manager to help oversee these success rates is important and can help a business in a variety of ways. Here is why having a success manager on board will help an organization exponentially.
Renewals
While it is important for businesses to develop strategies to attain new customers, it is equally, if not more important to ensure that you don’t lose customers that you already have.
Success managers can help ensure that current customers will be transformed into long-term members. These managers will often follow up on quarterly and monthly renewals to see where a business may be lacking. What makes revenue recurring is customer renewals, and this will be an important area that managers will be responsible for.
Onboarding
After acquiring new customers, the onboarding process will become essential because this will get the customer acclimated to hat they have just purchased. They are bound to have many questions about here they just invested their money, and the success manager will be responsible that they get the most value out of their purchase.
What helps the most is that these managers are already familiar with the customer and what they need. Therefore, it is easy for managers to identify their needs and how to extract the most value out of the advertised product.
Customer Advocacy
Many businesses are not aware of the many avenues in which they can bring in revenue. One of the best ways that a business can get extra revenue, advertising and new customers is through customer referrals. If certain customers that have a large influence partner with companies, the potential pool of customers that businesses acquire can be enormous.
Success managers can be very important in this regard because they can transform regular customers into consistent advocates. Referrals can lead to large financial growth in ways that businesses may not have conceived possible. Do not underestimate what success managers can provide a business with