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

CSM Practice

AUGUST 3, 2020

In whatever situation, the question “Who should own the renewals and upsells?” is considered to be a crucial topic among the Customer Success community. That said, many experts in this field are taking time to brainstorm to come up with a specific answer to the question, “is it sales or customer success’ responsibility?”.

Upselling 98

Upselling Sales Chief Customer Officer SaaS 98

ClientSuccess

NOVEMBER 2, 2022

Over the years, customer success manager roles have expanded to include many different responsibilities. Bridging the gap between customers and a product team is critical, from managing customer implementations to ongoing account maintenance. Keep tabs on customer satisfaction and account health. .

Customer retention 70

Customer retention Upselling SaaS Accountability 70

Global Response

AUGUST 7, 2023

There’s no business out there who doesn’t want to improve their customer retention and CLV. The secret weapon to improving customer retention and CLV? First, customer retention rates are always measured based on a specific timeframe, typically monthly, quarterly or annually. Your call center.

Customer retention 62

Customer retention Call Center Upselling Personalization 62

Amity

AUGUST 26, 2015

Up yours, #CustomerSuccess Managers. Hey, I’m referring to Upselling! Ever try to explain to someone what upsell means? Arguably one of the most recognized promotional tag lines of our time, I’ll bet that people don’t realize the McDonald’s suggestion is pure, shameless upsell. If upsell is fries, then cross-sell is fish.

Upselling 88

Upselling Management SaaS Customer retention 88

Kapta Customer Success

MAY 1, 2023

Customer success is essential to the long-term growth of your organization for many reasons. Helping customers achieve measurable results by using your product or service has been found to be the best predictor of customer retention.

Customer retention 52

Customer retention Upselling Accountability Management 52

ChurnZero

DECEMBER 17, 2021

Customer acquisition and customer retention are cornerstones of building and maintaining revenue, but customer expansion — and a robust customer expansion strategy — can also be pillars of success. What is a Customer Expansion Strategy ? Why is Customer Expansion Important for SaaS Businesses?

Management 98

Management Upselling SaaS Education 98

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

ChurnZero

AUGUST 11, 2020

Did you know that 60% of SaaS companies reported a negative impact on customer retention and upsell deals due to the pandemic? Customer retention, along with new customer acquisition, has been challenging for most companies when the pandemic hit. This is shocking. The second quarter of 2020 was chaotic.

Customer retention 97

Customer retention Chief Customer Officer SaaS Accountability 97

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. Understand your customer’s journey. Define Your Customer.

Best practices 81

Best practices SaaS Customer retention Upselling 81

Nicereply

JUNE 18, 2020

Customer retention is the act of keeping customers engaged, creating customer advocates, and reducing churn before it happens. Imagine you never acquired another customer. Your sales team went home, and all you had left was your current group of customers. That’s where customer retention comes in.

Customer retention 125

Customer retention Feedback Surveys Metrics 125

OctopusTech

JULY 21, 2023

In this data-driven era, customer data management is highly important than anything else for companies and they are constantly gathering a huge amount of customer information and details. Data of customers act as a lifeline for any business. A data-driven customer experience is important for the success of any company.

Best practices 62

Best practices Management Upselling Sales 62

Totango

DECEMBER 10, 2019

When you make customer retention for B2B business models a priority, you’ll not only save money on acquisition costs; you’ll also unlock the growth potential of your existing customer base. Let’s explore why customer retention for B2B is so important and how you can make it happen. Retain Customers for Life.

Customer retention 64

Customer retention B2B Enterprise Metrics 64

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

ShepHyken

AUGUST 24, 2021

Managing Customer Success. Preventing Customer Churn. Shep Hyken interviews Philipp Wolf, CEO of Custify , a company that helps SaaS businesses deliver great results for customers. They discuss how to utilize customer information and behavior to help ensure customer success. It is a philosophy.

SaaS 346

SaaS Upselling Customer retention Feedback 346

CustomerSuccessBox

APRIL 19, 2021

It’s unlike most SaaS B2B businesses not addressing customer retention. There is a treasure trove of data on how customers interact with your organization yet most organizations are unable to act on these data points. Drive Customer Retention With Three Kinds Of Early Warning System.

Customer retention 52

Customer retention SaaS B2B Upselling 52

ShepHyken

DECEMBER 9, 2022

A study by Aspect Software found that companies that adopt omnichannel strategies achieve 91% greater year-over-year customer retention rates compared to companies that don’t. . A contact center CRM is a customer relationship management system that’s designed specifically for contact centers.

Sales 308

Sales CRM Contact Center Customer retention 308

CustomerSuccessBox

APRIL 27, 2021

In a subscription economy, customer retention is a necessary focus for business as a SaaS customer only pays 5-15% of total potential Lifetime Value upfront, the rest will only come in as future revenue IF you’re able to retain that customer. This is where Customer Success Platforms comes in. So, how do you do it?

Customer retention 52

Customer retention SaaS Accountability Engineering 52

ChurnZero

FEBRUARY 23, 2023

There are two primary reasons why: First, you need to retain customers to simply “keep the lights on” so to speak. Second, growth during times of uncertainty is most likely to come from cross-selling and upselling. Further, additional sales with existing customers have a lower customer acquisition cost (CAC).

Management 52

Management Customer retention Upselling Chief Customer Officer 52

ChurnZero

FEBRUARY 23, 2023

There are two primary reasons why: First, you need to retain customers to simply “keep the lights on” so to speak. Second, growth during times of uncertainty is most likely to come from cross-selling and upselling. Further, additional sales with existing customers have a lower customer acquisition cost (CAC).

Management 52

Management Customer retention Upselling Chief Customer Officer 52

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

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

JULY 2, 2021

What is a Customer Success Manager? Customer Success Manager (CSM) is a customer facing role whose goal is to ensure value delivery to their customers. CSMs guide their customers to the desired outcomes and maximize derived value from the purchased product or service. appeared first on.

Management 52

Management Customer retention Upselling Accountability 52

Totango

OCTOBER 20, 2022

Hiring team members with the right customer success manager skills is critical for the effectiveness of your CS team and strategy. Here we’ve identified the 13 most essential qualities to consider when hiring a CS manager. What Is a Customer Success Manager (CSM)? What Is a Customer Success Manager (CSM)?

Management 90

Management Upselling Coaching Best practices 90

ChurnZero

DECEMBER 17, 2021

Customer acquisition and customer retention are cornerstones of building and maintaining revenue , but customer expansion — and a robust customer expansion strategy — can also be pillars of success. They enable businesses to provide more value to their existing customers and bring in additional revenue as a result.

Management 52

Management Upselling SaaS Customer retention 52

Totango

MAY 17, 2021

Tracking this alerts you to churn risks as well as upsell opportunities, empowering you to take appropriate action. Systematically tracking these KPIs positions you to proactively manage and improve engagement. Product engagement refers to how and how often customers use your products. Why Manage Product Engagement?

Management 62

Management Upselling Metrics Accountability 62

ShepHyken

JANUARY 10, 2022

A Nation on Hold Wants to Speak With a Manager by Sarah Lyall. The New York Times) The meanness of the public has forced many public-facing industries to rethink what used to be an article of faith: that the customer is always right. Customer Service Is the New Upsell by David Wagoner.

Customer Service 188

Customer Service Upselling Sales Customer retention 188

Totango

JULY 28, 2021

Following best practices for hiring a customer success manager can make a critical difference in the quality of your customer relationships. Customer success managers serve as the face of your company in dealing with clients, playing a key role in ensuring satisfying experiences of your brand. Suggesting upsells.

Best practices 118

Best practices Management Brand ambassadors Upselling 118

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

JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

Customer retention 52

Customer retention Journey mapping Education Feedback 52

ChurnZero

MARCH 22, 2019

This was just one of the takeaways from our well-attended webinar this week on- Understanding the Real Impact of Improving Retention and Customer Success Best Practices. We also had You Mon Tsang, CEO and Founder of ChurnZero share tried and true ways to improve customer retention. Q&A Recap.

Customer retention 61

Customer retention Upselling SaaS Customer centricity 61

JustCall

MAY 14, 2020

But the operation that is facing the most critical hit is – Customer Retention. Customer acquisition has become more difficult than ever. And businesses have shifted their focus towards Retention. But are you still sticking to the old-fashioned customer retention strategies?

Customer retention 52

Customer retention Journey mapping Education Feedback 52

ChurnZero

MAY 25, 2023

For example, survey research shows about half (50.2%) of all CS teams surveyed are directly responsible for customer renewals. While renewals are a central aspect of CS work, many Customer Success Managers (CSMs) have a mandate for upsells. This metric focuses on renewal and excludes upsells and downsells.

Upselling 97

Upselling Metrics Surveys Accountability 97

Totango

DECEMBER 21, 2021

Building out customer success manager automation depends on the effective use of email and in-app messaging. Planning strategic emails at key milestones in your customer journey can help you deliver a smoother customer experience, yielding higher satisfaction and better retention rates. New Feature Announcements.

Management 105

Management Best practices Upselling Accountability 105

Beyond Philosophy

NOVEMBER 10, 2014

Here are some of the most comprehensive facts and figures that I’ve come across: A recent study of the Value of Customer Experience amongst two $1 billion+ businesses published in Harvard Business Review (HBR) managed to quantify the effects of good customer experience. Keeping Customers results in a high increase in value.

Customer Experience 411

Customer Experience Customer retention Upselling Banking 411

JustCall

APRIL 5, 2023

The need for customer success management is fairly new and fast becoming pertinent. These include the need to create value for customers on a recurring basis as well as lowering the switching costs for customers. Traditional customer support models will not cut it. What is customer success management or CSM?

Management 52

Management CRM Analytics Customer retention 52

CustomerSuccessBox

MARCH 10, 2022

There is a need for managing brand loyalty to the clients and that’s why you need a client success manager. Also called as a client service manager! Roles and responsibilities of a Client Success Manager. Actively engage in communicating with the customers. Resolve their issues. Handle any conflicts of interest.

Management 52

Management Customer retention SaaS Customer advocacy 52