Measuring the Value of Customer Success
Customer Success Key Performance Metrics (KPIs)
A dedicated Customer Success Strategy is the final piece of the revenue production process. Statistically speaking, marketing and sales efforts only product about 75%-80% of all tangible lead generation. So where do the remaining leads come from? We argue that Customer Success is the source.
Satisfying and retaining current customers is anywhere from 10 to 30 times less expensive than acquiring new customers.
(Source: Sales Force)
Measuring the Value of Customer Success
Customer Success Key Performance Metrics (KPIs)
Simply creating and measuring a culture of customer satisfaction has limited utility. Unhappy customers complain and tell others about the poor experience with your company while satisfied customers are generally just that – content and happy with your product or service but usually quiet about it! Therefore the outcome of client satisfaction is no complaints, but also no lead generation. However, focusing on Customer Success, and measuring that success from the customer perspective, directly feeds into, and becomes an extension of, your marketing and sales efforts. Here’s what you should know.
CLEAR EXPECTATIONS
Your brand, your content marketing, your social media, your advertising, your sales process, your pricing strategy, your people all set customer expectations as they proceed to make a purchasing decision. Do you actually deliver what your customer expects?
CUSTOMER SATISFACTION
From the buyer’s perspective, “if I buy from you, at the very least I expect to be satisfied”. This is how you avoid negative reviews and public criticism, but still, a low ambition if you want to achieve retention, referrals, and promotion from raving fans.
CUSTOMER ADVOCACY
When customer experience and perceived value exceed expectations set through the marketing and sales process, you can measure customer advocacy to discover the lowest cost and most productive sales organization in which you’ve ever invested.
Our Customer Success Strategy
Your Revenue Production Process is Incomplete without Customer Success
We believe in creating customer advocacy through designed Customer Success initiatives. Customers need to be delighted in all facets of your business, so they go out and literally make sales calls on your behalf. They do this for your benefit and at little cost to you. From a B2B perspective, customer success means that you actively participate as a trusted partner in your customer’s business success. By utilizing this concept, we help you develop a powerful commercialization strategy.