What Is Customer Success?
Digital businesses today adhere to the philosophy that business success depends upon customer success.
This is why many modern businesses place customers at the heart of their revenue model.
Customer success is the culmination of all of your efforts to improve customer care, the customer experience, and other customer-centric concepts.
There are a number of reasons why customer success — and other customer-focused ideas — have become so prominent in recent years:
- The majority of customer revenue comes post-sale
- Improved overall success lowers customer churn
- Customer longevity depends directly on their success
For customer success to be successful, it must be grounded with benchmarks, key performance indicators (KPIs), and goals.
These can include:
- Increasing customer retention and upselling
- Increasing customer lifetime value
- Boosting referral rates
- Decreasing customer complaints
- Improve customer response rates to requests
With goals in place, it is possible to create a customer success program that achieves measurable results. Without them, determining success depends on subjective observations.
Companies that wish to calculate the ROI of their customer success programs, therefore, should create specific targets and KPIs.
Developed as part of a holistic customer relationship strategy, customer success can deliver tangible benefits to any business’s bottom line.