Totango

JUNE 24, 2022

Customer success in SaaS differs from CS in other industries. The software service industry presents unique challenges for customer success management while also creating unique opportunities that call for specific strategies. SaaS success outcomes can be defined in terms of measurable digital benchmarks.

Best practices 103

Best practices SaaS Journey mapping B2C 103

Totango

JULY 1, 2022

In a B2B SaaS context, SaaS customer loyalty is expressed primarily through actions like subscription renewals, upsell purchases, referrals and product engagement. Other important loyalty metrics include subscription renewal rate , churn rate, upsell rate, and customer lifetime value.

B2B 108

B2B SaaS B2C Upselling 108

Nicereply

NOVEMBER 21, 2022

Considering that the SaaS industry is a competitive one, customer retention is crucial. However, for each industry, there are benchmarks to show the normal CRR. Kissmetrics is a great tool if you want to know everything about your customers, from the lead stage up to the upselling stage. How to Calculate CRR?

Customer retention 98

Customer retention SaaS Upselling Analytics 98

Lumoa

JANUARY 31, 2023

Although customer experience management is a complex process, that differs in every company and industry, it can be adjusted to the same plan. Leaders in a variety of business industries use NPS , which makes NPS a great benchmarking tool. Upsell to the promoters and introduce new/additional services and products.

Customer Experience 176

Customer Experience Customer centricity Metrics Feedback 176

Lumoa

APRIL 28, 2024

You can even find opportunities for cross-selling, upselling, or personalized promotions by using real-time insights and trends generated by AI. You want to think about the sensitivity of your data, and regulatory requirements in your industry or region. You reach them where they are with the messages that resonate with them.

Feedback 83

Feedback Consulting Consulting Enterprise 83

CustomerSuccessBox

OCTOBER 21, 2021

The subscription model has become the majority in the B2B SaaS industry. This creates opportunities for upselling, reselling, & cross-selling. The Golden Benchmark in Customer Success. This can be achieved through expansions or upsells. If you are a smaller company, this benchmark should be even higher.

SaaS 52

SaaS Upselling B2B Benchmark 52

Quality Contact Solutions

OCTOBER 25, 2021

By Marcia Jenkins, Senior Operations Manager According to the 2021 Membership Marketing Benchmark report, it has been a challenging year for association membership. A Trusted Partner for Professional Associations Quality Contact Solutions conducts high-quality outbound telemarketing programs for the association industry.

Telemarketing 98

Telemarketing Scripts Benchmark Upselling 98

Totango

MARCH 5, 2021

Second , you can use your current CRR as a baseline to set goals and benchmarks for improvement. To set a target CRR, research what CRR scores are common in your industry. For example, in the SaaS industry, 35% is a good retention rate. A Positive Customer Retention Rate Leads to Renewals and Upsells.

Customer retention 86

Customer retention Upselling Enterprise Benchmark 86

ProProfs Blog

DECEMBER 4, 2020

While the former helps businesses promote and sell their services based on industry research and advertising, the latter offers assistance and advice to people already using a brand’s product or service. Identify Opportunities to Upsell & Cross-sell. In short, customer service cannot be neglected anymore.

Marketing 147

Marketing Customer Service Upselling Customer Support 147

CustomerSuccessBox

NOVEMBER 17, 2021

It is as follows: Your monthly recurring revenue of the month (a) Revenue through upsells and cross-sells (b) Revenue lost due to downgrades (c) Churned Revenue (d). Your upsell revenue for the month is $1000. If you are above 100% then you would achieve the golden benchmark net negative churn. Increasing NRR Accountability.

Upselling 52

Upselling SaaS Metrics Accountability 52

Quality Contact Solutions

FEBRUARY 26, 2021

SOC 2 (System and Organization Controls) examinations were designed by the AICPA to assist organizations of any size, regardless of industry and scope, by ensuring the personal assets of their potential and existing customers are protected. SOC 2 Type II certification is considered to be the benchmark for data security.

Telemarketing 52

Telemarketing B2C outsourcing Benchmark 52

Comm100

SEPTEMBER 28, 2022

Before you begin making changes to your service delivery and your staffing practices, it’s important to understand how your organization compares against industry. Live Chat Benchmark Report 2022. Download our annual Live Chat Benchmark Report for free access to the latest live chat data alongside best practices and optimization.

Average Handle Time 95

Average Handle Time Benchmark Wait times Metrics 95

SmartKarrot

AUGUST 2, 2023

In fact, it is essential for sustainable growth and long-term success for any business across industries. In addition to this, we will also highlight some great CS benchmarks that every Customer Success team should aim to achieve. CSAT Benchmark: Aim for a CSAT score of 90% or higher. NPS Benchmark: Target an NPS of 70 or above.

Benchmark 10

Benchmark Customer retention SaaS Customer centricity 10

Global Response

MAY 22, 2023

Typically, outbound call centers focus on: marketing and sales audience research and surveying follow-ups or appointment setting upselling and cross-selling lead generation Blended Call Centers As the name suggests, blended call centers handle both inbound and outbound calling.

Call Center 62

Call Center outsourcing Benchmark Metrics 62

JustCall

JULY 23, 2020

However, there's an industry benchmark based on which you can assess your performance. According to industry benchmark research, the average sales cycle length for B2B companies is 102 days ( source ). How does your win rate fare against the industry benchmark? Upselling Rate. Upselling Rate= No.

Sales 52

Sales Metrics Upselling Benchmark 52

ClientSuccess

MARCH 5, 2020

First and foremost, customer success is an industry of relationships. Customer success professionals must be able to define what a ‘successful’ customer account looks like and track their overarching metrics back to these benchmarks. A close second, however, is metrics.

SaaS 64

SaaS Finance Benchmark Upselling 64

CustomerSuccessBox

MARCH 25, 2021

In fact, as per industry statistics, boosting customer B2B retention by 5% increases profits by up to 95%. Upsell, Expand, and Grow. As your customers become long-term users, it will give you more opportunities to upsell thereby increasing the LTV(lifetime value). The retention rate is industry-specific. Retail: 63%.

Customer retention 52

Customer retention SaaS B2B Upselling 52

ClientSuccess

MARCH 5, 2020

First and foremost, customer success is an industry of relationships. Customer success professionals must be able to define what a ‘successful’ customer account looks like and track their overarching metrics back to these benchmarks. A close second, however, is metrics.

SaaS 52

SaaS Finance Benchmark Upselling 52

NobelBiz

SEPTEMBER 19, 2023

A dropped call is a term used predominantly in the telecommunications industry to describe a situation where an ongoing telephone conversation is unintentionally disconnected due to technical or other reasons. For call centers, this scenario isn’t just a minor inconvenience—it can result in substantial losses. What is a Dropped Call?

Contact Center 59

Contact Center Abandon rate Call Center Telecommunications 59

Fonolo

FEBRUARY 9, 2023

This metric is universally understood across the industry, and clearly conveys how quickly customer calls are answered by support agents. 3 Problems with the 80/20 Service Level for Contact Centers The case against worshipping service level has been made by many contact center analysts and industry veterans.

Service level 142

Service level Call Center Abandon rate Metrics 142

Totango

AUGUST 18, 2022

In the SaaS industry, onboarding is the process of guiding a new customer through the steps they need to start using the product they just purchased. It also promotes higher product usage, increases the likelihood of upselling purchases and encourages customers to become enthusiastic brand advocates.

Journey mapping 93

Journey mapping SaaS Upselling Enterprise 93

ChurnZero

JANUARY 26, 2021

The range of responsibilities of Customer Success Managers (CSM) in the industry is dizzying. From technical support to renewals and upselling, this role might be one of the most confusing and misunderstood jobs in all of tech. . As a CSM you have the privilege and opportunity to see across the industry you serve. .

Management 98

Management Chief Customer Officer Upselling SaaS 98

Lumoa

NOVEMBER 29, 2021

McKinsey research in the US showed that enhancing the customer experience can bring significant financial benefits : “Across industries, satisfied customers spend more and stay more loyal over time. The customer experience and retention are clearly linked but the strength of the link does have some industry-specific differences.

Customer Experience 103

Customer Experience Metrics Feedback Banking 103

ProProfs Blog

DECEMBER 21, 2020

Stable customer base results in higher referrals, improved upsell revenue and increased lifetime value (LTV) which further results in improved customer acquisition in future. Reducing customer churn is impossible if you don’t have access to the right insights to analyze and use as a benchmark. There’s a lot more to this.

Surveys 148

Surveys Benchmark Feedback Sales 148

Totango

JANUARY 29, 2021

Successful customers become more likely to make cross-sell and upsell purchases. For best results, goals should be expressed in terms of quantifiable key performance indicators so that you can establish benchmarks and measure progress. With an improved customer experience, churn rates decrease, increasing retention.

Best practices 80

Best practices Benchmark Upselling Accountability 80

CSM Practice

OCTOBER 15, 2019

A TSIA benchmark study on renewal rates showed that there is a 13.7 To do so, most organizations currently use industry standard CRM systems in combination with a marketing automation system. These attributes may be the client’s revenue band, size, region, industry, product usage level, or time since product deployment.

Benchmark 40

Benchmark SaaS Journey mapping Analytics 40

TLC Associates

JULY 24, 2019

Studies by Bain & Company show the effort to increase customer retention by 5% produces 25% additional profits through upsells, cross-sells, and customer referrals. Your retention rate is more than an arbitrary benchmark. That depends on your company, industry, and size. Get my guide! Simple enough.

Customer retention 49

Customer retention Benchmark Upselling outsourcing 49

Lumoa

FEBRUARY 20, 2018

Although customer experience management is a complex process, that differs in every company and industry, it can be adjusted to the same plan. Leaders in variety of business industries use NPS , which makes NPS a great benchmarking tool. Upsell to the promoters and introduce new/additional services and products.

Customer Experience 150

Customer Experience Customer centricity Feedback Metrics 150

PeopleMetrics

APRIL 17, 2015

This subjective perception makes CX optimization evasive, ambiguous, and challenging to measure and benchmark. When customers are retained for longer periods of time (or partake in upsells and additional products, seats, licenses, etc.), However, to enhance your CX, you must first measure and benchmark it. Know This….

Marketing 108

Marketing Customer Experience Benchmark Wireless 108

GetFeedback

AUGUST 30, 2019

Gather opinion on a broader aspect of the firm’s industry or niche. Information like this is invaluable when conducting a review of your business, or as a means of benchmarking your service against competitors. On the other hand, you can also use an exit survey to upsell customers.

Surveys 110

Surveys Entertainment Benchmark Upselling 110

CustomerSuccessBox

JULY 19, 2021

Hence, Customer Success Management together with a solid strategy results in a decreased customer churn, increased upsell opportunities, and renewals. For SMBs, a better benchmark range would be 10 – 20% of ARR (know that this percentage will decrease when your Customer Success program really begins to take shape). SurveySparrow.

SaaS 52

SaaS Customer retention Surveys Chatbots 52

Amity

JANUARY 27, 2016

• The Link Between Customer Success, Retention, and Upsells. Satisfied customers will have a positive impact on your bottom line because creating brand advocates leads to renewals and upsell opportunities. Expanding revenue from existing customers leads us to the topic of upsells. Schedule it in advance.

Upselling 57

Upselling SaaS Best practices Sales 57

Fonolo

JULY 5, 2023

Sometimes, public perception of a whole industry can change — we’ve seen this recently with dairy, cereals, and meat-free alternatives. How they approach upselling opportunities Upselling is something that all your customer-facing employees should be doing — not just sales. What industry do you work in?”

Surveys 104

Surveys Brand ambassadors Sales Upselling 104

ChurnZero

JULY 9, 2020

But organizing and facilitating a forum for your customers and industry to connect over the pains and passions of a shared profession is one of the most organic and authentic ways to build loyalty. “As Uncover Opportunities With Upsell Campaigns. Nurture with Networking Events. Fulfill Your Customers If You Want to Retain Them.

SaaS 64

SaaS Marketing Upselling Chief Customer Officer 64

Eptica

APRIL 18, 2018

All of this has fundamentally reshaped the industry and put pressure on delivering a more efficient and superior, personalized experience to customers. Overall, the study found that the performance of the travel industry across major channels declined , successfully answering just 36% of questions across the web, email and social media.

Airlines 49

Airlines Customer Experience Multichannel Transportation 49

CustomerSuccessBox

NOVEMBER 23, 2021

In the field, several key indicators are recognized as benchmarks. Essential Read: NPS Industry trends 2021. Upsell rate. The Upsell rate is interesting because if the customer risks buying another of your products or services, it is because he has confidence in the quality of your products and services. Repurchase rate.

Brand ambassadors 52

Brand ambassadors Upselling Construction Surveys 52

CustomerSuccessBox

NOVEMBER 19, 2018

Even if a customer waits for the onboarding to get over, the chances of renewals and upsells decrease with time because everyone wants to achieve early value and get to product adoption. You want to train them in bulk, teach them other ways top clients are using your product and teach them key industry insights.

SaaS 72

SaaS Metrics Benchmark Upselling 72