Outdoing the competition in today\u2019s business world can be a real challenge. It\u2019s hard to know which strategies to follow, and always important that you stay up to date on the newest trends<\/a> and changes. The competition surely does. So, what should you do to go the extra mile and see real, sustainable results? Our advice to any startup<\/a> is to invest in and practice customer success management; keep it close to your company\u2019s central values. This is one of the most popular emerging growth<\/a> opportunities in business today, across all industries.<\/p>\n\n\n\n Hubspot<\/a> defines customer success as: <\/p>\n\n\n\n \u201cCustomer success is anticipating customer challenges or questions and proactively providing solutions and answers. Customer success helps you boost customer happiness and retention, thus increasing your revenue and customer loyalty.\u201d <\/em><\/p><\/blockquote>\n\n\n\n A solution as simple as keeping your clients engaged and happy usually has a huge impact. Is it always possible, or even worth it? The answer is yes, according to many accounts. Sixteenventures<\/a> interprets customer success as, \u201cWhen our customer achieves their desired outcome through their relationship with us.\u201d Additionally, their definition of customer success management makes this an easier concept to visualize. <\/p>\n\n\n\n \u201cOperating within the context of our relationship with the customer, these are the people, processes, workflows, data<\/a>, and systems used to move the customer toward their ever-evolving desired outcome.\u201d The secret to great achievement in this formula involves every tool and data available to you. Truthfully, it involves more than strong customer service teams and a fantastic product; customer success is made possible by tools, data, protocols, information, and so much more behind-the-scenes work.<\/p>\n\n\n\n This comprehensive take on managing customers\u2019 satisfaction is useful for many reasons. Another important fact is that the desired outcome, your target, is always moving. Ignoring these areas of information and the business opportunities they make possible is a rookie mistake. There are many phenomenal systems and appliances which are designed with startups<\/a> in mind, to help you organize, streamline, and boost you up to the next level. Check out some of our other articles for ideas.<\/p>\n\n\n\n Furthermore, customer success management itself is understood as overseeing the startup\u2019s customer success; qualified, friendly representatives, as well as a proactive strategy to \u201cassist, delight, and retain customers,\u201d as Hubspot<\/a> puts it, are key. A customer success manager might report to a senior manager or someone similar, but their principal function is to lead the people who work with customers on a daily basis. When hiring, be absolutely sure that this person is a responsible leader and team player. Their talents, or lack thereof, might make or break your business in the long run.<\/p>\n\n\n\n “Customer success (CS) managers have a few key responsibilities:<\/p>\n\n\n\n The moral of the story is that one of the most viable ways to retain business and expedite your company’s achievements includes having a stellar customer service team and manager to ensure that the customers leave shining reviews. Not to mention, you should be using the plethora of tools and models at your disposal to retain customers, create positive relationships with them, and follow an overall path to success.<\/p>\n\n\n\n <\/p>\n\n\n\n Software as a Service (Saas) is the origin of customer success. Just think about the myriad of digital software services which help people to get jobs done. You are likely already very familiar with customer success from the customer side of things. To use these aforementioned software services, the user pays a recurring term fee, often a monthly or yearly fee. <\/p>\n\n\n\n Another important aspect is that the users also have the ability to \u201ccancel anytime,\u201d giving them an indispensable sense of control and a higher level of satisfaction. Through extensive customer success trial and error in many sectors- but very surely in the SaaS realm- this subscription economy keeps companies on their toes. \u201cYou must continually prove to the customer that they\u2019re making the right decision to do business with you\u201d (typeform<\/a>).<\/p>\n\n\n\n A whopping 85% of customers are willing to hand over more cash in exchange for a better customer experience, according to Typeform<\/a>. Those are some great odds to convince any company to invest in its customer service management. People aren\u2019t truly interested in your product. Likewise, they desperately want their problems to be solved, and that\u2019s where customer success comes in.<\/p>\n\n\n\n Historically, the Saas companies were the first to have a good vision of the power which customer success has. It brings a strong capacity to provide two essential things; people always want a fix for their problems (utility) and to be treated well (a positive user experience). More happy and loyal customers mean less churn. Lowering your churn rates simultaneously increases your business\u2019s bottom line. <\/p>\n\n\n\n Retaining customers is significantly more economically friendly than attempting to acquire new customers, as Hubspot<\/a> points out, so you\u2019ll see revenue growth. They are huge advocates for customer success, saying: \u201cCustomer success has the power to help you grow your base of advocates and promoters. If you’re a subscription-based business, this will help you boost renewal rates.\u201d No wonder SaaS and other companies cross-industry have become such big fans of implementing better customer success management.<\/p>\n\n\n\n <\/p>\n\n\n\n First of all, let\u2019s discuss exactly how customer success works, as outlined by Hubspot<\/a>. There are three main factors necessary for an effective customer success plan. The first element is a customer success solution such as a tool or software. Fielding all of the interactions you have with customers is a lot of work and can spin out of control very quickly if your startup is experiencing high growth. In order to proactively manage communication, some tools and\/or software are a must!<\/p>\n\n\n\n Secondly, you should look into hiring and training a customer success team. You\u2019ll want at least one person working solely on customer success because it can make such a difference in the future of your business. The number of representatives and managers will depend on the size of the business and available resources. <\/p>\n\n\n\n Lastly, a customer success strategy is essential to this venture. Write it out with the market and do your research; you\u2019ll have the potential to blow the opposition out of the water. These are just a few ideas, but it\u2019s beneficial to have the right people on your team<\/p>\n\n\n\n Forbes<\/a> says that: \u201cCustomer success (CS) is one of the most critical functions of a startup, especially a business-to-business (B2B) software-as-a-service (SaaS) startup. Your startup\u2019s success depends on educating and keeping customers \u2014 exactly what CS professionals are equipped to do. Moreover, when your CS team does its job well, customers turn into advocates, each referring new customers to your business.\u201d <\/p>\n\n\n\n Who\u2019s at the head of a customer success team? The manager. Forbes recommends hiring an experienced customer success manager; it\u2019s a good idea to hire someone who has scaled in this way at a company similar to yours, from where your company sits, all the way through the initial public offering (IPO). <\/p>\n\n\n\n However, Forbes<\/a> admits that, <\/p>\n\n\n\n \u201cIn truth, it\u2019s easier to find a needle in a haystack than to find this mythical ideal hire.\u201d <\/p><\/blockquote>\n\n\n\n Although it is difficult to find someone who has familiarity with similar products, the sales model, implementation and expansion strategy, etc, it is not impossible. Hopefully hiring someone with sufficient quality experience will set your business up for success with its customers.<\/p>\n\n\n\n To reiterate, customer success leads directly to overall success. Customer success is linked to your bottom line. Having it helps you reduce churn rates. You\u2019ll also be improving user renewal and satisfaction rates, and in turn, boosting your company\u2019s revenue. It\u2019s an all around win! This is actually one of the reasons it\u2019s so popular right now. Everyone gains when customer success is prioritized.<\/p>\n\n\n\n Hubspot<\/a> lists four main pieces of advice to follow for higher chances of achievement.<\/p>\n\n\n\n <\/p>\n\n\n\n A good rule of thumb is that if you have customers, you should be investing in an organized customer success strategy. Recently, it\u2019s become more expensive and competitive to obtain new customers. Therefore, focus on the existing customers you have and they will become your business\u2019s advocates in their circles. <\/p>\n\n\n\n Customer success leads to business success. If you are a subscription-based business, happy customers will rocket your renewal rates upwards. Plus, happier customers means they will become loyal to your brand and be much more likely to recommend your product to their friends, coworkers, family, etc. which is all good for your business!<\/p>\n\n\n\n \u201cSome of today’s most successful emerging and growing companies are already investing in customer success. In fact, growing companies are 21% more likely than their stagnant counterparts to prioritize customer success,\u201d <\/p>says Hubspot<\/a>.<\/cite><\/blockquote>\n\n\n\n <\/p>\n\n\n\n Keep in mind that a startup succeeds when its clients succeed, in any field. Ensure that your customers are consistently content with your product or service. You can achieve this through creating and maintaining a customer success program at your company. Make sure that your customers feel supported in any way possible. Also, start building this relationship from the very first interaction, to ensure loyalty and help them trust in you.<\/p>\n\n\n\n <\/p>\n\n\n\n Regardless of which stage your startup finds itself in, strategic customer success management is an essential piece to the puzzle. Forbes<\/a> has outlined a useful roadmap of the type of main players you\u2019ll need to consider for this business-boosting endeavor:<\/p>\n\n\n\n By focusing on hiring these types of people, those who will give their max effort in the task at hand, you\u2019re setting up your business to see huge positive changes.<\/p>\n\n\n\n <\/p>\n\n\n\n So, with so much information and planning to do, where do you begin? As Typeform<\/a> shares, this all starts with a mindset. Transfer your essence from selling a product or service, to providing value. A true customer-centered business takes persistence and dedication; a \u201clong-term game built on mutual benefit.\u201d \u2014a shift from selling a product to delivering value. It is dedication to creating a truly customer-centered business. <\/p>\n\n\n\n It\u2019s a long-term game built on mutual benefit. By helping users enjoy and take value from your product, by providing superb customer support at all times, and by proactively reaching out to them with solutions, you will positively impact customer retention and overall growth.<\/p>\n\n\n\n Let\u2019s review seven important steps to reach your goals, compiled by Typeform<\/a>: <\/p>\n\n\n\n <\/p>\n\n\n\n We\u2019ve included some more information as you\u2019re establishing overall traits and paths to follow: some factors to keep in mind when hiring your first customer service manager. First, think about your product. How complicated is it? Does it require specialty knowledge to fully comprehend? Forbes<\/a> says that they have <\/p>\n\n\n\n \u201cfound that while no specific expertise is necessary, experience with how businesses contract with freelancers and vendors makes the steep product learning curve much more manageable.\u201d <\/em><\/p><\/blockquote>\n\n\n\n Secondly, what are the market\u2019s characteristics? Do your customers speak a certain lingo? Perhaps if your business works with finance leaders, for example, the hires you make would preferably have vast knowledge about accounting; it correlates with working with contractors and vendors. You should make your hires pending largely on their background in relevant industries and your business market.<\/p>\n\n\n\n Next, what will your pricing model look like? Forbes<\/a> advises that \u201cvery expensive products with a high-touch sales model will probably require high-touch customer success. \u201cFreemium\u201d products relying on product-led growth, self-service education, and low-touch sales will likely require someone who can more quickly operationalize and scale CS.\u201d<\/p>\n\n\n\n Let\u2019s say you\u2019ve got a great product, and the following step is implementation. How readily do your customers see value? Is onboarding similar for everyone, or does it differ as a result of the specific situation each customer presents? If it does vary, someone who asks the right questions when creating the onboarding\/implementation process would be an asset<\/a>. Also, a passion for and\/or experience in consulting are often good expertise to seek out.<\/p>\n\n\n\n Then, your company is surely trying to expand. What exactly does that mean to you? Selling more licenses or services? Adding more expensive features and higher-level plans? Different qualities are necessary for diverse success strategies. Still, Forbes<\/a> advises \u201chiring someone data-savvy enough to segment customers appropriately to identify and pursue potential expansion opportunities.\u201d <\/p>\n\n\n\n The last consideration to have is the company structure. Who will your customer success leader report to? Be intentional about the order of things. Where the customer success manager sits in the rankings will send a message to your employees and customers about how you view the customers.<\/p>\n\n\n\n![\"What](\"https:\/\/maccelerator.la\/wp-content\/uploads\/2022\/04\/customers-reviews-1024x602.jpg\" "\\"\\"")
<\/figure>\n\n\n\nWhat is its origin story?<\/strong><\/h2>\n\n\n\n
Why is customer success important?<\/strong><\/h2>\n\n\n\n
![\"Why](\"https:\/\/maccelerator.la\/wp-content\/uploads\/2022\/04\/csm-software-1024x683.jpg\" "\\"\\"")
<\/figure>\n\n\n\nWho needs customer success?<\/strong><\/h2>\n\n\n\n
Who are the players in a customer success organization?<\/strong><\/h2>\n\n\n\n
![\"Who](\"https:\/\/maccelerator.la\/wp-content\/uploads\/2022\/04\/players-customer-success-1024x683.jpg\" "\\"\\"")
<\/figure>\n\n\n\nFramework for creating a customer success strategy<\/strong><\/h2>\n\n\n\n
![\"Framework](\"https:\/\/maccelerator.la\/wp-content\/uploads\/2022\/04\/analytics-csm-1024x741.jpg\" "\\"\\"")
<\/figure>\n\n\n\nAdditional Tips<\/strong><\/h2>\n\n\n\n