Customer Success Secrets Every Business Needs to Know
Customer success is an investment every business should make. Some of the most successful companies have a -2% churn rate. How is that possible? That’s because they have customers who are willing to stick with them for the long run. If you’re a leader, then you’ll want to take your success plan more seriously when it comes to marketing, product development, or sales.
1. Success Involves Financial Responsibility & Metrics
A success plan that doesn’t meet its financial goals can decrease in value. Most leaders assume that their products will make their customers happy but that’s not enough. You need a team of successful people who are willing to work wtih your customers. No matter how successful your product is, you need people interacting with your customers on an ongoing basis.
The goal of success is to increase your Return on Investment (ROI) and to decrease Net Negative Churn, so you’ll need the right processes and tools to meet each of these goals. You’ll also need to right team of people who will help you get there. Your success plan should contribute to financial results. You should focus on increasing retention rates and upsell revenue.
2. Success is More Important than Sales
In fact, customer success is five times more important than sales. Sales should be your main focus, but your other goal should be to develop a long-term relationship with your customers. To meet both of these goals, your sales team need case studies, references, and stories to help them improve on their strengths and weaknesses. While most leaders are good at closing deals, they’re awful at following up with customers.
CEOs and founders should focus on acquiring new customers so much that they ignore their existing customers.
3. Visit Your Customers in Person
It’s not always the unhappy customers who take off and leave your company. Face-to-face meetings can help you identify their pain points and influence their attitude. Your goal should be to meet five customers each month.
A phone call or text message doesn’t count. You have to get out there and interact with each of your customers. In-person meetings can help you learn more about your customers and what’s not working with your products or services. This can greatly decrease customer churn.
Not sure what to say to your customers? Give them a copy of your customer roadmap and encourage feedback. Find out which issues they’re currently having. This alone can lead to a successful meeting.
4. Compromise With Your Customers
There will be times when you don’t get along with one of your customers. Some customers don’t know as much about your products or services as you do. This is what your success plan involves. You’ll receive unsolicited feedback from customers who weren’t there when you were making your product, and you’ll have to make adjustments to fit their needs.
But the key to a successful business is the market. Your customers are the ones who will come to you with questions, concerns and issues. You may not agree with everything they say, but no matter the level of expertise, your products or services should meet their needs.
5. Start by Listening to Them
When you’re marketing your products and services, you may take over the conversation. Customers don’t care if you’re an expert at your products and services. They want their needs addressed. You should learn both buyer and seller motivations, according to Success Path. Then you can use this information to determine whether your customers would pay higher or lower prices. They’re more willing to provide this information if you’re willing to listen.
6. Get to Know Your Audience
As you learn your target audience, you should get an idea of each of your customers. Think of your customers as individuals rather than another number. You wouldn’t address a group of executives as one entity. Why should you treat your customers the same way?
In every success opportunity, treat your customers as human beings. Address their pain points and desires when it’s most appropriate. This calls for more casual or formal conversation when the time calls for it. It’ll be worth keeping them around.
Success is about establishing a relationship with your customers and providing them with long-term services. This will lead to a lasting and successful relationship. When you actively listen to them and go the extra mile, they’re more likely to stick around for the long haul..