One of the biggest challenges any business faces is attracting new customers and keeping them. If you can build a successful strategy that not only helps you gain new customers but also encourages them to renew, then you have a good foundation to build upon. Customer success teams are perfect for customer retention, but most companies don’t use them in the right way. Here is the biggest problem with customer success and how you can fix it.
The Sale Isn’t the End
Many companies see the sale of the product or the conversion of a lead as the goal. This is why there are often targets for marketing and sales teams. While this is, of course, an important part of business, it should be the beginning of the process…not the end.
Focusing on customer renewals costs less than trying to find new ones. Although win-back campaigns can be effective, there is a good chance that some customers are already put off and may never return. If you can keep your customers happy, then renewals are more likely and less costly.
This process may also be just what your company needs to get ahead of your competition. You may be able to attract customers from your competitors if they can see how valued your customers are.
Customer Success, Not Service
Customer service is an important part of your company and being available to answer questions and fix issues is vital. However, some businesses see customer success and customer service as the same thing, but this is not the case.
Customer service is often seen as a cost to the company because it frequently involves repairing a product or offering compensation to customers. This can make it hard to justify the need for additional funding from investors or the board of directors.
By having a separate success and service team, you can accurately measure the data and the positive impact the customer success team has on the business.
Why Do Customers Renew?
Most customers will stay with a company because they feel the product enhances how they work and offers something that other products don’t. As a business, you need to learn what it is about your product that each customer is getting from it. If you find that a customer is not reaching their goals, or their goals have changed, then this is the perfect opportunity to find a solution before their renewal comes up.
Be Proactive, Not Reactive
Achieving more success with your customers means becoming more proactive and not reactive. You must be aware of your customer’s goals from the beginning, so you can ensure they are meeting them. This will make it easier to anticipate what they need and make your customers feel valued.
Part of this involves getting customer feedback from the beginning. Open communication is a great way to encourage your customers to tell you what the problems are and what they want from your product. This can be achieved as early as the sale point and then fed back to the customer success team for them to monitor.
When you analyze the data from the feedback, you can use it to improve the product by issuing patches or updates, you can also use it to improve the aftercare of other customers.
It is fair to say that many companies don’t use their customer success team correctly if they have one at all? So by exploring how it can benefit your business, you can get ahead of the competition and develop a loyal customer base.