Customer Success

Deliver Outcomes, Not Products

Customer Success is built on the premise that developing early, deeper relationships with customers and ensuring they are realizing the business value of their investments leads to greater retention, improved product penetration, increased advocacy, and sustainable long-term value. You become more than just a vendor—you become a strategic partner.

Go Beyond Happy to Successful Customers

Customer Success is the key to improved retention, customer growth, and advocacy. It transforms a one-time purchase into a long-term relationship in which you are seen as a partner and a trusted advisor.
Companies are recognizing the transformative power of Customer Success, and its importance is growing as the subscription economy and “as-a-service” industries emerge. Using a data-driven approach to monitor customer health and uncover insights, a Customer Success practice allows an organization to proactively guide customers toward product adoption and service utilization, lead them to renew, expand the relationship, and develop customer advocates who maintain brand loyalty, refer new customers and act as a quality reference.

An Acronym for Customer Success Focus

End-to-end solutions in each of the four areas of Customer Success—and the tech stack that supports them.

A

ADOPTION

Increase product usage

Promote full, active, and successful usage

Create success plans and key objectives that align with customers’ business objectives

R

RETENTION

Increase renewals and reduce churn

Monitor customer ownership experience and usage sentiment; gather feedback and use deep user intelligence

Assess risks and warning signs of low adoption or low success rates to preempt churn

Deliver greater value with existing products

E

EXPANSION

Upsell, cross-sell, and increase average customer revenue

Understand customer needs

Build relationships as a strategic advisor

Identify logical expansion opportunities

A

ADVOCACY

Customers align their business outcomes with your product or service

Nuture customer referrals

Cultivate brand loyalty

Use customer advocacy to enhance your company’s overall reputation

The cost of acquiring a new customer (CAC) can be up to 700% higher than retaining a customer.

– Bain and Company

Just a 5% increase in customer retention can deliver a 75% increase in profits.

– Bain and Company

Companies with 30% or more annual growth invest 6X more in their customer success teams.

– Edison Partners Growth Index

Companies that expand customer success enjoy a 5% to 7% increase in customer retention rates.

– Edison Partners Growth Index

Do You Need Customer Success?

If any of these scenarios sound familiar, well, yes you do.

You are not getting renewals and you are regularly asked to re-bid.

Your customers seem satisfied, but they ask you to bid for new products or renewals. They may put you on the defensive as to your pricing, reminding you of the high cost of your product or service. Long-lasting engagements and strong loyalty are lacking and your renewal rate could be a lot better.

You are not getting cross-sells or upsells.

Your otherwise loyal customers aren’t aware of the full range of additional products and/or services available from you. You have no standard process for cross-selling or upselling.

You are new to selling via a subscription model.

You have been selling your product or service successfully and are now offering it through subscription. You know that reducing churn and increasing renewals is more cost-effective than acquiring new customers, but you’re still trying to figure out how to accomplish that.

You need to scale your customer success practice.

You have a Customer Success practice in place for your A accounts, but do not have a customer success motion for your tail accounts. You want to expand your focus to your Silver, Tier B, tail accounts to drive adoption and expansion.

You receive few client referrals.

You get an occasional referral, but they are infrequent and you sense you’re missing out on many more.  

You have a limited number of reference accounts.

You have only a few reliable clients to use as references for prospects and referrals are infrequent, but believe many additional clients have the potential to become excellent references as well.

Learn what it takes to build a Customer Success practice, expand to drive adoption among Silver or Tier B accounts, and include channel partners in your motion, moving them from reactive to proactive.

 

READ THE BLOG >>

Learn what it takes to build a Customer Success practice, expand to drive adoption among Silver or Tier B accounts, and include channel partners in your motion, moving them from reactive to proactive.

READ THE BLOG >>

At MarketSource, an Allegis Group company, we believe better sales begin with better relationships. Our proven alternative to traditional outsourced sales is led by a proprietary process that helps businesses thrive by fostering deeper connections between people and brands.