Customer success contributes to pipeline growth, customer retention, and customer loyalty. Customer success managers play a vital role in operationalizing your company’s commitment to helping customers extract value from their investments. As a result, customer success professionals are in high demand. There are many factors that are driving customer success growth. Below, we will dive into 4 factors that drive customer success growth.
Engage with your customers
With B2B products and services, you can’t just assume that no news is good news. For example, if your SaaS product has become shelfware, you probably won’t hear complaints from customers. They also won’t be likely to renew their business for a tool they’re not using. The product/service provider and the customer need to be involved in decisions. The feedback between the two parties is essential.
By having an open feedback loop, transparency and reciprocated advocacy will create a strong relationship between a company and their customer that leads to a better product or service strategy and more successful customers.
Discover hidden customer needs
Today, many leaders are bombarded with big data, surveys and feedback. Leaders can easily fall prey to managing relationships by the number, seeking the stories they want to hear while ignoring red flags and opportunities to address customer concerns. Customer success managers play a critical role in uncovering hidden customer needs and critical context that enable companies to take timely actions on what matters most to customers.
Customers want opportunities to disrupt competitors and capture additional market share. Shared innovation is an opportunity to create shared value by providing solutions that meet new needs, unmet needs or existing market needs in unique ways. Customer success teams put your company’s product and solutions front and center. This happens by helping customers discover new ways to go to market with you.
Perception is reality. If you don’t manage your customers expectations, they will set their own for your product or service. If you want to build better relations and retain customers, you need to set expectations early. A good strategy to cultivate customer loyalty is to under promise and over deliver. However, don’t set expectations so low that customers are turned off. You should be able to deliver more than what your customer expects. This is the secret to keeping customers.