The enterprise world is on the verge of transforming its customer success business practices (again). We are well into the “Customer Experience” economy, where our clients expect more value and are more focused than ever on how quickly a company delivers quantifiable business outcomes.
There are key changes in the marketplace that are driving the shift to Customer Experience: for example, the cloud has changed nearly everything about the way prospects and customers research and make purchase decisions. In the past, revenue was collected up front, we had time to show value and we had money to invest in solution development and value differentiators.
But now with the cloud, the revolution has come! And with it, the landscape has changed. Now, empowered customers expect a new way of doing business: the idea of brand loyalty is ancient history, as the cost of switching vendors is lower and competition is fiercer than ever across every industry. We are all challenged to think differently, sell differently, deliver customer success differently and in general behave differently throughout the whole process. Speed and agility are vital not only to survive but also to thrive.
When today’s customers demand immediate value, we must be prepared to deliver! But what’s the best way to do it? We’ve got some tips for you that will help you create a winning customer success practice.
#1 Data has a significant impact on the customer experience and lowering your cost to deliver customer success
As we migrate solutions to the cloud, the handoff between what is sold and what is delivered is more important than ever. Customers expect you to know this and delivery on these changing outcomes: we must be aware of how products are used and we must use end customer feedback to deliver insights that allow our customers to rapidly shift their strategies. It is important to leverage usage data to drive the customer journey.
#2 Utilise a Revenue Lifecycle Management framework to benchmark where you are today
It is critical to have a framework by which you can benchmark http://www.lookuppage.biz/users/paulsen/ your approach to customer success evaluating four key areas: technology, data, people and process. Remember that “One Size does not fit all”! It starts with understanding how to “create a successful end customer”. By understanding where we are today, we can evolve faster by investing in and implementing customer success best practices where they are really needed.
#3 Create a customer journey map that clearly demonstrates outcomes and the path to achieving them
By mapping your entire customer journey a company can get a better understanding of what is missing and what data it will need to fill those gaps and improve the customer experience. In recurring revenue business models, the focus has to be put on mapping out the entire customer lifecycle, with the emphasis on the revenue lifecycle pillar. By starting with an understanding of the customer experience, we can be sure to pull data from all available sources! Read more about the customer journey here.
#4 Continuously innovate to improve products, services and processes to lower the cost to serve, while simultaneously growing revenue faster
As technology is changing the market faster than ever before, we can’t afford to miss out on innovation. And this in possible only by using the right performance metrics. Focus on measuring customer retention and you’ll get a good insight on the fact that there’s a problem, but you won’t know where it is. Instead, a customer http://medicines4all.com health score is critical to facilitate innovation in customer success, so work on implementing it!
#5 Consult with post-sale customer engagement experts
It is important to learn from those who have gone before us. We should all take the time to learn from experts in customer success best practices and recurring revenue! Quite often, partnering for success can accelerate the evolution and help scale a customer success organisation faster.
Is your company building its own customer success best practices to stay ahead of the competition? Share with us your experience in the comments below!