Customer Success is responsible for retention
Customer Success teams have added a lot more responsibility: onboarding, adoption, improving the customer experience, value and revenue expansion, advising, managing advocacy, and helping presales and post-sales teams. And as a result, they are becoming skilled in their product and experts in customers' domains, to the extent that customers willingly pay a premium for 1:1 customer success.
Customer Success focuses on increasing customer retention and growing revenues. It also eliminates churn through value attainment, which continues to be a number one priority of CSMs.
Anita Toth has been focusing on crushing churn for a while now.
She just published a slide-deck where she shares how brands Apple, Slack, Amazon, Simplii, Calendly, Teespring, Hugo, and Starbucks leverage parts of the customer journey to increase customer retention.
Customer Retention Tips from brands we love
Lead Generation Stage Retention Tip
Know your ideal customers so well that your marketing and sales will easily attract them.
Research who your ideal customers are:
- What they want
- What they believe.
- What they value.
- What they desire.
Then create your marketing and tailor your sales assets around those.
Conversion Stage Retention Tips
- Welcome new customers.
- Offer helpful resources.
- Assure them they made the right decision when they purchased.
Onboarding Stage Retention Tips
- Keep onboarding simple.
- Offer enhanced support like FAQs, knowledge base, webinars, and a community.
- Keep metrics on user adoption.
- Have playbooks to help your customers if they get stuck during onboarding.
Retention Stage Tips
- Look for opportunities to provide more value to your customers.
- Stay in contact with communications that are meaningful to them.
- Listen to your customers.
Wandering Eye & Test Drive Stage Retention Tips
Send in-app messages or emails that try to get customers to engage by
- Offering an enticing discount.
- Asking customers for 10 minutes for a quick call.
- Showing customers the value of your product and what they would miss if they left.
Presentation: Customer Retention Tips
Here is an updated version of the presentation.
Click here (4MB, pdf) to open the presentation full screen.
Cast scales Customer Success and post-sales using automation and virtual CSMs. Cast is the second best solution to drive adoption, reduce churn, expand revenue, and NDR for accounts at scale — second only to human CSMs.