CSM Practice

JULY 29, 2020

Customer retention is the process of engaging with existing customers to continue buying your products or services. If customer retention is poor, there is a high probability that your business is in jeopardy. Customer Retention Strategies. Factors to Consider in Prioritizing the Customer Accounts.

Customer retention 52

Customer retention Finance SaaS Accountability 52

Totango

MAY 14, 2021

Customer retention is the keystone in any customer success strategy. There are many different types of customer retention metrics that one can track. Which customer retention metrics have the biggest impact on your business? Customer Retention Rate. Revenue Churn Rate.

Customer retention 65

Customer retention Metrics Upselling Best practices 65

ProProfs Blog

JUNE 21, 2019

Do you have a customer retention strategy? Companies focus on customer acquisition strategies, since increasing your customer count is the lifeblood of your business. But, customer acquisition won’t help, if you are unable to retain customers. Understand Customer Retention. Source: Intuit.

Customer retention 95

Customer retention Sales Marketing Scripts 95

Totango

APRIL 30, 2021

Comparing the cost of customer retention versus customer acquisition underscores why retaining clients is so important. Here’s how to calculate both kinds of costs and why retention should form part of a profitable business strategy. Calculating the Cost of Customer Acquisition. Professional services and training.

Customer retention 63

Customer retention Advertising Engineering Upselling 63

Totango

JANUARY 15, 2019

While it’s no doubt a thrill to pursue and persuade a new customer to work with your enterprise, for software and subscription-based businesses, the real value lies in customer retention. But your customer retention strategies should be based on long-term thinking. 2 Understand Your KPIs.

Customer retention 75

Customer retention Customer centricity Enterprise CRM 75

Totango

FEBRUARY 10, 2021

A customer success strategy is a proactive plan for guiding your clients to outcomes that satisfy their needs. When your customers enjoy more value, your product adoption rates rise and customer retention rates go up. This promotes success for your company as well as your customers.

Customer retention 84

Customer retention Journey mapping Benchmark SaaS 84

CustomerSuccessBox

MAY 25, 2021

Have you ever heard any SaaS founder or VP -CS saying,” I‘m okay with losing a few customers every month?”. That’s because Customer Retention is critical. Customer retention is critical — particularly for B2B SaaS companies. Retaining a customer is way more profitable than acquiring new ones. .

Customer retention 52

Customer retention Metrics Upselling SaaS 52

Totango

FEBRUARY 7, 2019

Know your customer, personalize your communications, and proactively work toward a mutual journey of growth, and you’ll find your retention process becomes as reliable as a well-worn marriage. Customer retention is about the promise of continued growth. The Top 5 SaaS Renewal Best Practices. SaaS Renewal Best Practices.

Best practices 81

Best practices SaaS Customer retention Upselling 81

Totango

NOVEMBER 8, 2023

Enterprise businesses can now use their critical product usage data from Pendo and Mixpanel in their Totango experience to design optimal customer journeys, improving product adoption and customer retention. Check out our full list of technology partners or request a new integration.

Enterprise 91

Enterprise Finance SaaS Analytics 91

Totango

APRIL 6, 2023

To survive this tough “do more with less” climate, companies are turning to their customer success (CS) teams to ramp up their customer retention and expansion efforts. While CS is poised to be in the driver’s seat for retention and expansion, we believe that everyone across the enterprise plays a role in customer success.

Enterprise 85

Enterprise CRM Sales Customer retention 85

ClientSuccess

FEBRUARY 8, 2023

Research Vectors by Vecteezy Many customer success leaders in the SaaS space are faced with the same question: who should own customer renewals? It’s an important question to answer, as it can make all the difference in customer retention and long-term success. Things To Consider… How complicated are your contracts?

SaaS 71

SaaS Upselling Accountability Sales 71

Nicereply

FEBRUARY 2, 2024

Customer Experience vs. Customer Service vs. Account Management While there are similarities with other customer-facing initiatives, you shouldn’t confuse customer success with other similar terms. On the contrary, customer success is proactive and aims to anticipate and solve problems before customers reach out.

Education 59

Education Accountability Customer retention Journey mapping 59

Totango

JUNE 30, 2020

Communication during a crisis is about protecting your core asset, your customers. The digital transformation of business has shifted enterprise focus toward customer retention and the pursuit of long-term value. Retaining those customers will require efficient, high-value communication between you and your customers.

Best practices 126

Best practices Customer retention Metrics Enterprise 126

CustomerSuccessBox

NOVEMBER 2, 2021

The y-axis shows the average revenue per account (ARPA) per year. In the x-axis you can see how many customers you need, for a given ARPA, to get to $100 million in annual revenues. Let’s extend the metaphor to the 4th and 5th types of customers, and call them “mice” and “flies” . And that’s true enough.

SaaS 52

SaaS Customer retention Enterprise Accountability 52

Totango

AUGUST 21, 2020

An enterprise cannot survive without satisfied customers to support it. This has always been true, but never has it been more true than in the era of customer-centricity that we now live in. Investing in, and effectively managing, customer success is vital to ensuring the long-term stability and growth of your enterprise.

Enterprise 78

Enterprise Customer centricity Accountability Customer advocacy 78

SmartKarrot

JUNE 28, 2023

A key account means one of your business’ most valuable customers. In fact, a survey by Bain & Company shows that a 5% rise in customer retention results in over 25% surge in profits. Please read on to learn some of the CRM challenges faced by key account managers today. This now becomes a challenge.

Accountability 10

Accountability CRM Management Customer retention 10

ClearAction

APRIL 13, 2023

CMOs set expectations for customer acquisition and CCOs assure expectations are delivered for customer retention. Both acquisition and retention are less of an uphill battle when you have high brand integrity. Acquiring the right customers : What percentage of new customers match your Ideal Customer Profile (ICP)?

Chief Customer Officer 62

Chief Customer Officer Revenue potential Customer retention Engineering 62

Totango

JUNE 26, 2020

COVID-19’s effect on customer churn may have already begun, but there is still plenty you can do to increase customer engagement and retain the customers you have worked hard to win. Lean on Customer Data Segment Your Customers Be Proactive Communicators Be Flexible Revisit Goals and Success Points.

SaaS 91

SaaS Customer retention Best practices Telecommunications 91

Totango

MAY 8, 2020

Analyzing patterns in past instances of churn improves your team’s ability to identify at-risk customers ahead of time and then take appropriate proactive action, which is critical to improving retention. Ultimately, a SaaS churn analysis helps ensure enterprise stability. The Value of Churn Analysis During a Crisis.

SaaS 77

SaaS Enterprise Customer retention Metrics 77

SmartKarrot

JANUARY 18, 2022

Enterprise SaaS allows modern businesses to take advantage of the various advantages of advanced enterprise software and powerful solution functionality. Therefore, as businesses continue to implement SaaS models into their product distribution strategies, it is crucial to understand and follow the latest trends for enterprise SaaS.

SaaS 10

SaaS Enterprise APIs Customer retention 10

Totango

FEBRUARY 11, 2022

Relationships with B2B customers tend to be more challenging to manage successfully due to complex requirements, a greater number of stakeholders, and organizational interdependencies. Why Take B2B Customer Experience Seriously? Deliver Satisfying B2B Customer Experience to Increase Customer Retention.

B2B 107

B2B Customer Experience B2C SaaS 107

Totango

JULY 8, 2021

Many of the companies we talk to today all have the same challenge: they are sick and tired of firefighting their customer accounts. Firefighting happens when you don’t have visibility into what is going on in your customer portfolio so you are constantly putting out fires, especially around renewal time.

Upselling 65

Upselling Accountability Customer retention Metrics 65

SmartKarrot

OCTOBER 11, 2022

All your client accounts are not created equal. And a smaller proportion of these accounts probably bring in the most money for your company. As a result, you must pay close attention to these key accounts to maintain and possibly even increase the revenue your business can produce. What exactly can be termed a key account? .

Accountability 10

Accountability Management Enterprise Sales 10

SmartKarrot

OCTOBER 14, 2022

All your client accounts are not created equal. And a smaller proportion of these accounts probably bring in the most money for your company. As a result, you must pay close attention to these key accounts to maintain and possibly even increase the revenue your business can produce. What exactly can be termed a key account? .

Accountability 10

Accountability Management Enterprise Sales 10

Totango

FEBRUARY 28, 2020

For example, a customer that shows a steady addition of license seats over a relatively short time may be ready for an upsell or cross-sell. Similarly, an account that has recorded a sudden drop in usage could be in danger of churn, and should prompt a re-engagement initiative. This makes customer retention critical.

Customer centricity 93

Customer centricity Metrics Upselling Enterprise 93

SmartKarrot

NOVEMBER 2, 2020

Customer retention is very challenging for businesses especially in 2020. The unprecedented times and business environment have made it uncertain for business leaders on what steps to take to retain customers. So, retaining customers becomes necessary for any company to sustain itself in this economic turbulence.

Customer retention 21

Customer retention Consulting Consulting Marketing 21

SmartKarrot

MARCH 30, 2022

Customer success is a growing field. At the current rate of growth, it is imperative to choose a customer success platform that supports multiple activities, offers a range in customer retention strategies and accommodates complex structures. Users can also go for pre-set rigid structures or frames to group accounts.

Enterprise 10

Enterprise Upselling Automotive Accountability 10

Totango

MAY 11, 2021

Stakeholder engagement and management is critical for customer retention. The first step is to identify the key stakeholders for a given account and their roles. Determine who the stakeholders are for specific accounts. Here’s how to plan an effective stakeholder management strategy and track your performance.

Management 84

Management Best practices Journey mapping Metrics 84

Totango

SEPTEMBER 6, 2022

Laying a foundation for customer renewal and expansion. Building QBRs into your standard operating procedures can yield significant increases in customer retention and a reduction in churn. For example, let’s say achieving your customer’s last set of QBR goals implies a certain level of usage. What Makes a Great QBR?

SaaS 105

SaaS Technical Support Benchmark Accountability 105

Totango

JUNE 28, 2022

Our dimensional health models enable businesses to understand the health of their customers and engage accounts when their health changes. The post 3 Things CMOs Should Do During an Economic Downturn appeared first on Best Customer Success Blog: Articles for Enterprise Growth.

Accountability 73

Accountability Marketing Best practices Customer retention 73

Totango

JUNE 30, 2021

Knowing how to boost product adoption after onboarding is critical for customer retention. Onboarding is a crucial time to provide the training and resources that customers need to make the most out of your product. Manage Larger Customer Adoption Issues. Boost Product Adoption to Increase Customer Retention.

Best practices 94

Best practices Customer retention Metrics Accountability 94

Anexa BPO

MARCH 10, 2021

However, many businesses lose profits due to late payments or customers who fail to pay at all. Collection services manage your accounts payable for you to improve cash flow and reduce demand on your team. Customer Retention: Once you have gained valuable customers, you must spend time nurturing relationships.

outsourcing 75

outsourcing Telemarketing Business Process Outsourcing Customer retention 75

TeamSupport

OCTOBER 8, 2020

TeamSupport maintains our diligence when it comes to taking a holistic view of the customer, with every one of our product, support, and success team members understanding the product and having the same dedication to serving our customers. Our solution is the vital communication line between them and their customers.

B2C 59

B2C B2B Enterprise CRM 59

Totango

SEPTEMBER 4, 2020

That is the idea behind tech-touch customer success solutions: thoughtful, relevant, value-driven communication delivered only when it has a positive impact on the customer. When your enterprise starts to fulfill its growth potential, it becomes impossible to greet every customer with one-on-one attention.

Enterprise 63

Enterprise Accountability Customer centricity Education 63

Totango

JUNE 9, 2020

Customer retention is the lifeblood of the SaaS and subscription industry. The digitization of business has empowered customers to seek flexible, personalized business solutions that spread the cost of overheads and capital over the life of an ongoing partnership. You just have to adapt them to today’s sensitivities.

SaaS 62

SaaS Enterprise Construction Finance 62

Totango

AUGUST 18, 2022

By extension, the term is used in SaaS to describe the steps in orienting a new customer on how to start using your software product. Client onboarding procedures typically cover steps such as: Welcoming new customers. Assigning account managers. Activating accounts. Guiding customers through how to use basic features.

Journey mapping 92

Journey mapping SaaS Upselling Enterprise 92

TechSee

JUNE 16, 2022

Eric Esguerra, Vice President, Customer Service & Operations at Miele Canada Ltd. Eric’s favorite motto is “The Customer Experience is Paramount and must be the driving force to any organization.” Tim is a young leader specializing in Digital Transformation, Innovation, Strategy, and Customer Experience.

Customer Service 251

Customer Service Chief Customer Officer Contact Center Consulting 251