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 87

Customer retention Journey mapping Benchmark SaaS 87

ChurnZero

SEPTEMBER 16, 2021

9 Customer Retention Strategies for SaaS. Higher retention rates can mean higher customer loyalty for your business, something that’s crucial for success, especially for SaaS. If you want to throw more fire behind your customer retention strategies , keep reading for some tips and tricks to keep them going strong.

Customer retention 52

Customer retention SaaS Education Feedback 52

Kayako

APRIL 1, 2022

Customer attrition risk is real, as over half (54%) of US consumers say that most companies need to improve their customer service. The good news is that this gap represents a significant opportunity for improvements to achieve a good customer experience that will boost eCommerce sales. billion in sales by 2024.

Sales 90

Sales Personalization Upselling Chatbots 90

CustomerSuccessBox

SEPTEMBER 7, 2021

And in all these -the common thread- Customer Success. Customer Success as a stream has played an important role. So, without further ado, let’s see the Customer Success Trends as predicted by the CS experts. 1 Renewed focus on new customer onboarding. Like it is said, Retention starts at onboarding.

Journey mapping 96

Journey mapping Engineering SaaS Upselling 96

CustomerSuccessBox

DECEMBER 13, 2021

Here are some of the Customer Success trends in 2022 that will help you make sense of the incoming changes. The world has understood the need for customer-centric systems and customer success at once. Customer Success trends in the year 2022. Artificial Intelligence (AI) in Customer Success.

Journey mapping 52

Journey mapping Customer advocacy Upselling Big data 52

Totango

MAY 7, 2024

By our math, that means nine out of 10 revenue-accountable leaders need a hand getting on the same page as their fellow go-to-market (GTM) counterparts. If Sales over-promises what the customer can achieve with your product, then CS has been set up to fail when it comes to onboarding. Use your words Talk to each other!

Sales 88

Sales Upselling Metrics Accountability 88

JustCall

MARCH 28, 2023

It is crucial for businesses to stay ahead of these changes to ensure customer satisfaction, which plays a pivotal role in their growth. By embracing the latest customer service trends, businesses can effectively adapt their processes and leverage cutting-edge tools and technologies to streamline their customer service operations.

Customer Service 52

Customer Service Chatbots Analytics Upselling 52

ChurnZero

MAY 3, 2019

If you want your business to be successful in the long run, it pays to give priority to customer retention. Landing a customer who will pay for life is like hitting the jackpot. After all, it takes five times more effort to land a new customer than to retain an old one. A lot of upselling and cross-selling opportunities!

Customer retention 75

Customer retention CRM Upselling Sales 75

SmartKarrot

DECEMBER 2, 2022

It is money earned after the original purchase and obtained through upselling, cross-selling , and renewals to your current clientele. Upselling is a sales strategy used to convince clients to buy a more costly, upgraded, or premium variant of the selected product/ service or other add-ons to close a larger deal. Cross-sell.

Upselling 21

Upselling Management SaaS Benchmark 21

Totango

MAY 17, 2021

Product engagement tells you how actively customers are using your product or platform. Tracking this alerts you to churn risks as well as upsell opportunities, empowering you to take appropriate action. It can also be considered in terms of account activity. A highly engaged customer may be in the market for an upsell offer.

Management 62

Management Upselling Metrics Accountability 62

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

Totango

APRIL 13, 2021

This metric is also known as gross revenue retention (GRR), which highlights the fact that we’re talking here about revenue retention rather than customer retention , at least directly. Of course, these two things are indirectly related, in that the more customers you retain, the more revenue you retain.

Upselling 71

Upselling Customer retention Metrics Enterprise 71

TeamSupport

MARCH 3, 2021

The largest drivers were new customers, higher user adoption of product features, and more proactive outreach by Support. Most customer support interactions today are reactive, but proactive support is on the rise. Research is a crucial part of customer retention that can help reduce turnover dramatically.

B2B 98

B2B Upselling Customer retention Customer Support 98

Amity

MARCH 24, 2017

” You may also be seeing an all-too-common trend: customer churn and/or a slowing trajectory of revenue growth. Most companies have revenue engines that run on delicately intertwined gears of new logos, retention and upsell/cross-sell. The key was discovering the trends that correlated with success and failure.

Accountability 56

Accountability Engineering Metrics Upselling 56

CSM Practice

DECEMBER 8, 2019

At the same time, a 5% increase in customer retention rates can increase profits by up to 95%. Why Do Customers Churn? Understanding the numerous reasons for customer churn enables SaaS business to conduct better churn analysis, mitigate churn, increase customer retention, and consequently increase revenue.

SaaS 88

SaaS Customer retention Accountability Feedback 88

Beyond Philosophy

APRIL 14, 2022

I read a fascinating report the other day from Zendesk called The Customer Experience (CX) Trends Report 2022. I saw a dichotomy between what people are saying and what they are doing regarding Customer Experiences (CX). I highly recommend reading the entirety of the CX Trends Report.

Contact Center 195

Contact Center Upselling Education Engineering 195

Totango

DECEMBER 3, 2020

As compared to 2019, companies are increasingly growing their Customer Success teams to maximize retention and drive growth from existing customers. . This continues a trend of high reliance on CS teams in the past few years, and with it has come an evolution in the compensation structures for these team members.

Upselling 64

Upselling Accountability Enterprise Metrics 64

Totango

MARCH 29, 2022

For Hannah Strickland, a customer success manager at Incident IQ , the use of Totango and HubSpot has been a game changer for her team’s understanding of their customer accounts. Increase product adoption and identify opportunities for upsell.

Customer advocacy 96

Customer advocacy Upselling Accountability Sales 96

CustomerSuccessBox

NOVEMBER 17, 2021

When you take into account all these changes with your existing customers and your recurring revenue, what you get is the net revenue retention. Calculating Net Revenue Retention. Net revenue retention has a simple formula that only needs 4 variables. Your upsell revenue for the month is $1000.

Upselling 52

Upselling SaaS Metrics Accountability 52

CustomerSuccessBox

JUNE 7, 2021

Now, this method allows you to evaluate your subscription model to see whichever accounts are decreasing in usage that may be more likely to churn entirely in the future, and hence deserve immediate attention from your customer success team. MRR(Monthy Retention Rate) Churn. Logo Churn. Check out the – F.A.I.R

SaaS 52

SaaS Customer retention Accountability Upselling 52

CSM Practice

FEBRUARY 24, 2020

1. Average Revenue Per Account (ARPA). The Average Revenue Per Account is a profitability metric that assesses your company’s revenue per customer account, usually calculated on a yearly, quarterly, or monthly basis. Average Revenue Per Customer = Total Revenue / Number of Accounts.

Metrics 52

Metrics Upselling SaaS Accountability 52

Lumoa

AUGUST 8, 2023

According to Gartner research, leveraging the data obtained from direct customer feedback can increase the chances of upselling and cross-selling by 15-20%. This shows the tangible, bottom-line benefits of listening to your customers. Here, we see an example of Lumoa’s AI performing regression analysis.

Surveys 83

Surveys Feedback Banking Best practices 83

ShepHyken

MAY 25, 2018

This week we feature an article by Matt Nolan who shares five keys to building more compelling, sustainable customer relationships. Customer retention used to be considered just a “service problem.” When a customer is in pain or trending towards churn, you need to know so you can proactively address it.

Call Center 185

Call Center Customer retention Upselling Advertising 185

Totango

APRIL 2, 2019

During the first week after the initial subscription, your goal should be to get customers to use the product at least once. The onboarding stage is critical in terms of customer retention, so make sure your customer understands all the features of your product and the value it provides. Gather Feedback.

Journey mapping 107

Journey mapping Upselling Accountability Feedback 107

TechSee

JUNE 16, 2022

Eric’s favorite motto is “The Customer Experience is Paramount and must be the driving force to any organization.” His YouTube channel is a fantastic source of inspiration about customer experience and customer centricity in a digital world. Tom Hinds, SVP Customer Engagement at Advocate Aurora Health.

Customer Service 251

Customer Service Chief Customer Officer Contact Center Consulting 251

ChurnZero

JULY 29, 2022

With the rise of the SaaS model, retention has dethroned acquisition as the primary means to achieve long-term growth and high valuation. In fact, according to one source, increasing your customer retention by just 5% can increase your revenue by up to 95%. Incremental improvements lead to big gains.

SaaS 98

SaaS Customer centricity Upselling Accountability 98

ChurnZero

MARCH 31, 2023

Renewals and retention are key in trying economic times Most Customer Success professionals the Customer Success Collective spoke with for a trend round-up expect their companies to put greater emphasis on customer renewals and customer retention.

Benchmark 98

Benchmark B2B Accountability Consulting 98

Totango

MARCH 12, 2021

From this vantage, the customer journey divides into a pre-sales buyer’s journey, which is driven by marketing and sales, and a post-sales customer journey, which is the responsibility of customer success teams and account managers. Renewal: your customer renews their subscription or license and becomes a repeat buyer.

Journey mapping 66

Journey mapping Upselling Metrics Customer retention 66

Education Services Group

JULY 28, 2019

You wouldn’t ask your accountant for help with child care. Customer segmentation isn’t all that different. It makes sense that we divide our customers and prospects into various groups based upon their specific needs or shared characteristics. Who on your team, for example, is responsible for upselling or cross-selling?

Accountability 40

Accountability Journey mapping Marketing Upselling 40

Totango

JULY 28, 2021

Coordinating resolution of customer support issues. Suggesting upsells. Customer success managers may handle different volumes of customers. Customer success managers bear responsibility for helping your clients achieve satisfying outcomes which promote subscription renewals and brand ambassadorship.

Best practices 118

Best practices Management Brand ambassadors Upselling 118

Transparent BPO

JUNE 19, 2019

It’s no surprise to anyone in the contact center industry that customer expectations of service have changed thanks to advancements in technology , such as artificial intelligence, chatbots, and automation. Nearly three-quarters of the people surveyed for the report said customer service was an influencing factor in purchase decisions.

outsourcing 95

outsourcing Call Center Contact Center Customer retention 95

Totango

OCTOBER 25, 2022

Customer success teams consist of three main functional tiers: Executives who set CS department goals and policies and coordinate with other parts of your company. Team Leaders who report to executives and supervise customer-facing team members. What Roles Are on a Customer Success Team?

Best practices 96

Best practices Chief Customer Officer Customer centricity Sales 96

Totango

MARCH 2, 2021

In this blog, we’ll look at how the customer journey has been reconceived around the image of a flywheel that integrates both the pre-sales and post-sales steps in the process. Mapping the Stages of Today’s Customer Journey. The SaaS business model has transformed contemporary understanding of customer journey stages.

Upselling 63

Upselling SaaS Brand ambassadors Sales 63

ChurnZero

JUNE 24, 2020

. “A Little Less Conversation” by Elvis Presley, Junkie XL (For inspiring your customers to take action). “I Feel Good” by James Brown (For when that renewal/upsell contract comes through). “We are the Champions” by Queen (For all of your Champions across your customer accounts).

Upselling 64

Upselling SaaS Customer retention Surveys 64

CSM Practice

FEBRUARY 24, 2020

1. Average Revenue Per Account (ARPA). The Average Revenue Per Account is a profitability metric that assesses your company’s revenue per customer account, usually calculated on a yearly, quarterly, or monthly basis. Average Revenue Per Customer = Total Revenue / Number of Accounts.

Metrics 52

Metrics SaaS Customer retention Upselling 52

CSM Practice

FEBRUARY 24, 2020

1. Average Revenue Per Account (ARPA). The Average Revenue Per Account is a profitability metric that assesses your company’s revenue per customer account, usually calculated on a yearly, quarterly, or monthly basis. Average Revenue Per Customer = Total Revenue / Number of Accounts.

Metrics 52

Metrics SaaS Customer retention Upselling 52

ChurnZero

MAY 31, 2019

We hope you have found the advice to be useful in overcoming common obstacles in your customer retention efforts. This is when a customer who used to be your advocate or main point of contact at an account has left their role at the company, leaving you championless, making the likelihood of a renewal uncertain.

Upselling 75

Upselling Accountability Customer retention Metrics 75