CSM Practice

JUNE 6, 2020

The valuation of a SaaS company is based on its recurring revenue stream. However, the health of the recurring revenue is not dependent on new customers only, but also the renewal rate of existing customers. SaaS Companies with high renewal rates can generate a regular, predictable recurring revenue stream more efficiently.

Metrics 89

Metrics SaaS Accountability Upselling 89

ProProfs Blog

APRIL 17, 2020

And if you successfully increase customer retention rates by 5%, then you can boost profits by 25% to 95%. That’s one of the reasons why y ou formulate strategies to retain your customers. But without numbers or metric data in hand, coming up with any new strategy would only consume your valuable time. 1: Customer Churn Rate. #2:

Metrics 142

Metrics Customer retention SaaS Surveys 142

Totango

JULY 31, 2020

Customer retention is critical to success in today’s customer-centric economy. Onboarding sets the stage for customer retention by beginning a positive long-term relationship between you and your customer. How SaaS Enterprises Can Streamline New User Onboarding.

SaaS 127

SaaS Healthcare Customer retention Enterprise 127

CustomerSuccessBox

APRIL 29, 2022

* ABS corp , a B2B SaaS firm acquired as many customers as it wanted. It is because as they kept acquiring new customers, they overlooked the existing ones! As a result, customers churned and the firm couldn’t do anything about it. If not, start focusing on customer retention. Incentivize Customer Retention.

SaaS 52

SaaS Customer retention Metrics B2B 52

aircall

APRIL 16, 2021

SaaS software, also known as cloud-based software, has now gone mainstream, making it easy for teams to leverage all the software programs they need to work collaboratively, wherever they are. Let’s look specifically at how SaaS software can help sync your sales and support teams so they work together in perfect harmony.

SaaS 62

SaaS Sales Coaching APIs 62

Voiptime

JANUARY 2, 2023

We all know that success starts from developing a great and competitive product that meets customer demands and expectations, then investing in marketing and advertising, and afterward implementing a customer experience and customer retention strategy to keep revenue on a stable level and get resources for further growth and development.

Metrics 40

Metrics Sales Advertising SaaS 40

ChurnZero

NOVEMBER 4, 2022

To get a CEO’s perspective on the matter, ChurnZero’s You Mon Tsang joined ESG for a special CEO panel on “ The economy and Customer Success: The impact and what to do about it ,” with ‘nuffsaid’s Chris Hicken and Kapta’s Alex Raymond. Difficult conversations lead to deeper customer connections. Profitability wasn’t a focus or concern.

SaaS 98

SaaS Customer centricity Finance Best practices 98

ChurnZero

FEBRUARY 4, 2022

Customer Success Metrics that Your Investors and Board Care About. Have you ever wondered what your investors are looking for in board meetings? In this article, we share Kristen’s best advice on how you can use metrics to reframe your customer stories, so they’re primed for investor engagement. Board meetings.

Metrics 98

Metrics Consulting Consulting Best practices 98

ChurnZero

MARCH 28, 2023

Early-stage SaaS businesses tend to put most of their focus on acquiring net new customers. For a little while, customer retention is a manageable task with existing staff. When you have only a handful of customers, your sales team, product team, customer support team—and even executives—can join forces to keep them happy.

SaaS 52

SaaS Chief Customer Officer Surveys Feedback 52

Totango

SEPTEMBER 17, 2021

The freemium SaaS model , where you offer limited free use of your product to promote a premium version, has become common in the tech industry. But is it the best way to sell a SaaS product? We’ll take a closer look at what the freemium SaaS model is and what its pros and cons are. What Is the Freemium SaaS Model?

SaaS 75

SaaS Best practices Upselling Journey mapping 75

Satrix Solutions

JANUARY 24, 2022

Over the past two years, organizations have faced new challenges in attracting and retaining customers: an entirely new business environment and culture, threats of ongoing inflation, labor & supply chain shortages, and pandemic-related disruptions. Some organizations also make an investment into something like retention marketing.

Customer Experience 97

Customer Experience B2B Customer centricity Feedback 97

Education Services Group

MARCH 18, 2020

You’ve likely heard that Customer Success was born out of the subscription economy, and new market needs of subscription customers. This also means that CS is primarily referenced with some level of connection to SaaS. I challenge you to think of an industry in which helping customers succeed isn’t beneficial.

SaaS 52

SaaS Best practices Metrics Benchmark 52

CSM Practice

MAY 21, 2021

In a rapidly evolving yet tight-staffed Saas startup, Customer Success is often overlooked as a growth driver. Most Saas startups focus on customer attraction and acquisition, forgetting that taking care of existing customers and ensuring retention is equally important. Why SaaS Startups Need Customer Success.

SaaS 52

SaaS Benchmark Enterprise outsourcing 52

TechSee

FEBRUARY 5, 2019

If 2018 was a year when customer experience professionals came under intense pressure to map out tangible results from heavy investment, 2019 is shaping up to be the year when next generation customer experience will deliver on the promise of a wide range of new technologies. Augmented Reality Customer Experience.

Customer Experience 173

Customer Experience B2B Upselling SaaS 173

REVE Chat Blog

MARCH 18, 2020

Building a good chatbot is a daunting task but at the same time, it is important to understand the key chatbot metrics and how they are performing to achieve your goals. As per Deloitte , “ 70% of businesses are rapidly leveraging artificial intelligence to change the way they interact with customers dramatically”. You can gauge, .

Chatbots 81

Chatbots Metrics Analytics Banking 81

ClientSuccess

DECEMBER 23, 2019

This being said, customer sentiment and satisfaction are notoriously hard to measure across different departments and touch points in an organization. . This is especially important for digital CX , or any engagements that take place between a company and its customers that isn’t face-to-face or in the same room.

Customer Experience 78

Customer Experience SaaS Chatbots Accountability 78

REVE Chat Blog

MARCH 18, 2020

Building a good chatbot is a daunting task but at the same time, it is important to understand the key chatbot metrics and how they are performing to achieve your goals. As per Deloitte , “ 70% of businesses are rapidly leveraging artificial intelligence to change the way they interact with customers dramatically”. You can gauge, .

Chatbots 77

Chatbots Metrics Analytics Banking 77

ClientSuccess

DECEMBER 23, 2019

This being said, customer sentiment and satisfaction are notoriously hard to measure across different departments and touch points in an organization. . This is especially important for digital CX , or any engagements that take place between a company and its customers that isn’t face-to-face or in the same room.

Customer Experience 69

Customer Experience SaaS Chatbots Accountability 69

JustCall

MARCH 29, 2022

In this blog, we explore the emergence of such ‘Super Reps’ and what they mean for customer experience. Meanwhile support agents attended to customers- answering calls, responding to queries, and attempting to reduce customer churn. However, the new-gen customer support is no longer cost-centric, but profit-centric.

Customer Experience 98

Customer Experience Upselling Coaching First call resolution 98

CustomerSuccessBox

FEBRUARY 28, 2022

The net revenue retention rate which you may also state as the net retention rate in SaaS businesses is an indicator that depicts the profits and the revenue earned by the business. But if you work out to retain existing ones and achieve a high net retention rate, this keeps away the need to acquire new customers.

SaaS 52

SaaS Best practices Enterprise Customer retention 52

Totango

APRIL 5, 2019

Customer success metrics are used to discover what kind of customer experience you are really delivering. The goal of customer success is to generate recurring revenue by creating customer lifetime value. And with customer success metrics, you can measure whether your efforts are working.

Metrics 73

Metrics Upselling Accountability Enterprise 73

Lumoa

MARCH 20, 2018

Customer experience has been on the rise during the last couple of years. From the traditional product-oriented businesses we’re moving towards customer understanding and customer-centric approaches. Whether you’re new to customer experience or coming for little inspiration, this is the right place.

Customer Experience 114

Customer Experience B2C Journey mapping B2B 114

JivoChat

AUGUST 24, 2021

Many people don’t understand the importance of customer service metrics. Consider that 78% of customers will do business with you again after a mistake if you have excellent customer service. The main challenge is knowing which metrics to track. Ticket Volume. Unresolved Tickets. Unresolved Tickets.

Metrics 59

Metrics Customer Service Upselling Average Handle Time 59

Netomi

JANUARY 5, 2022

This is especially true in the customer service industry. Customer Experience (CX) has catapulted into one of the most important aspects of determining business success. At Netomi, we deeply care about improving the customer experience. Can I Work a Customer Service Job from Home? Adrian Swinscoe.

Customer Experience 98

Customer Experience Customer Service Consulting Consulting 98

Nicereply

NOVEMBER 23, 2023

Customer satisfaction is at the heart of successful Customer Experience (CX). Meeting these demands isn’t just a strategy; it’s essential for building trust and growing your brand. Customer satisfaction isn’t just a metric; it’s the basis of sustainable business growth.

SaaS 59

SaaS Feedback Brand ambassadors B2B 59

Amity

NOVEMBER 21, 2016

SaaS customer success leaders publicly encourage greater adoption of this practice. Peter Armaly, a customer success expert with Oracle Marketing Cloud, argued in his presentation at the 2016 Customer Success Summit that it should be a foundational activity of CSMs. Strategy 3: Customer Benchmarking using Vendor Surveys.

Benchmark 59

Benchmark SaaS Best practices Metrics 59

ChurnZero

JANUARY 18, 2024

The role of the chief customer officer has become an essential function in subscription-based business models such as software-as-a-service (SaaS), where customer retention is paramount and requires executive-level leadership. SaaS businesses, meanwhile, benefit from predictable streams of recurring revenue.

Chief Customer Officer 52

Chief Customer Officer SaaS Sales Upselling 52

The Petrova Experience

JUNE 22, 2021

In 2021, Major players like Oppenheimer, TD Bank , and almost every big insurance company on the S&P 500 offer the client experience of the 80s or 90s. Because they have incomplete digital customer experience strategy. What is Digital Customer Experience Strategy? And no real impact on client experience.

Customer Experience 59

Customer Experience Banking Government Healthcare 59

REVE Chat Blog

JANUARY 15, 2020

Customer satisfaction is defined as a measurement to determine how happy are your customers with your products, services, and capabilities. . Measuring customer satisfaction metrics gives you valuable insights into your overall business performance. Based on the insights you can trigger survey questions to your customers.

Metrics 75

Metrics Surveys Feedback Customer centricity 75

Lumoa

MARCH 20, 2018

Customer experience has been on the rise during the last couple of years. From the traditional product-oriented businesses we’re moving towards customer understanding and customer-centric approaches. Whether you’re new to customer experience or coming for little inspiration, this is the right place.

Customer Experience 64

Customer Experience Journey mapping B2C B2B 64

Totango

AUGUST 8, 2021

By fueling all of the above strategies with accurate and timely customer information, you can turn customer engagement, renewal and growth into practical, repeatable and achievable goals. Driving Software Adoption through Customer Success Begins with Understanding. Data-Driven, Goal-Based Engagements.

SaaS 118

SaaS Best practices Metrics Enterprise 118

ClientSuccess

DECEMBER 28, 2020

Over the past several years, customer success has gone from a department only forward-thinking organizations had to an integral part of every single SaaS company in the world. As we look ahead to a new year, now is the perfect time to take a step back and get back to the basics of customer success.

SaaS 88

SaaS Finance Customer centricity Metrics 88

SharpenCX

JANUARY 23, 2020

Managers swim in a sea of data and metrics, but they fight to weed through what’s valuable to move their KPIs. Download Now: How to build customer experience strategies using the data you already have in your contact center. Host team meetings regularly to set clear expectations. Sometimes, metrics make us sweat.

Coaching 98

Coaching Contact Center Benchmark Management 98

Vistio

MAY 28, 2022

It was a B2B SaaS company serving the healthcare space. And this was another start B2B SaaS company in healthcare, that seems to be my wheelhouse these days, and I led implementation, support and customer success for that organization. There’s CX, customer support, customer service, customer success, and on and on.

Customer Experience 52

Customer Experience Contact Center SaaS Technology 52

Totango

SEPTEMBER 13, 2022

A customer success playbook maps out a game plan you can use to automate successful outcomes for your clients. Having a playbook in place can help you deliver better results for your SaaS customers and yield higher satisfaction, retention, and revenue for your business. Plan, analyze, and understand your customer lifecycle.

SaaS 87

SaaS Upselling Best practices Customer retention 87

delighted

JUNE 6, 2024

It’s crucial to survey customers at various points throughout their buying journey, especially after they make a purchase. Post-purchase surveys allow businesses to collect valuable insights about their marketing efforts, the products or services they provide, and the overall customer experience. What is a post-purchase survey?

Surveys 87

Surveys Feedback Best practices Marketing 87

CustomerSuccessBox

AUGUST 25, 2022

The SaaS space is ever-changing and growing. So, how does one keep up with the SaaS trends? Attending Customer Success events in 2022 ensures your SaaS business is at par with the current industry trends. However, with the onset of the COVID pandemic, various aspects of customer service and experience drastically changed.

SaaS 52

SaaS Education Metrics Marketing 52