This article discusses how you can increase your Customer Success, Revenue Growth, and Enterprise Value. It relates to previous articles such as, “The Hidden Cost of Churn to Enterprise Value”, “How Much Enterprise Value Did You Lose to Churn in the Last Year?” and “It Hurts! Why Your Customers Kiss You Goodbye”.
Are you ready to join the hundreds of organizations who have achieved Customer Success excellence? Try the DGE Customer Success Assessment now.
What was the last customer experience you told your friends and family about?
Was it positive? An organization that truly went out of its way after you signed the agreement to onboard and bring you into the fold while investing to ensure you achieved real and sustainable value. Or perhaps negative, where the organization failed to deliver on its promises, and may have even neglected you after the purchase or worse, made you feel you were the problem!
- Customers who have had a bad experience are 2x - 3x more likely to complain to a peer or post an angry review than customers who had an expected experience.
- It takes twelve (12) positives to counteract one (1) negative discussion or review that damage both customer acquisition and retention results.
In today’s connected world, its more imperative than ever to deliver an exceptional customer experience by developing your Customer Success function to it’s maximum capabilities. With Customer Success running at full tilt, not only will your customers enjoy their experience with your product or solution more, they will achieve the promised outcomes. Additionally, they will also be more likely to buy other products from you and share details of their experience with potential prospects as well, resulting in upsell, cross-sell, and advocacy opportunities that deliver Profitable Revenue Growth.
Now think about your organization.
What does the average customer experience look and feel like for your customers? Are you delivering on your promises and meeting or exceeding expectations throughout their journey? Are you leading them to achieve meaningful and increasing value? And, when they run into issues, how do you react to them?
Every organization can measure its current capabilities through the Customer Success Maturity Model. Organizations with low Customer Success Management rate as Chaotic or Forming, while companies delivering an exceptional experience are considered to be Optimized.
How do you achieve Optimized Customer Success?
First, every individual in your organization needs to embrace the Customer Success mindset, and it must be chartered and reinforced by the CEO and Leadership Team. It needs to be integrated throughout the company culture and even compensation cascading from the C-Suite to individual contributors. The success of customers is not only the lifeblood of the company, it is everyone's job.
Second, you need to ensure your organization is built to support Customer Success. I’ll expand on this in future articles, but to give you a quick summary, you need to ensure you have the strategy and execution capabilities in place across the people, processes, technology, and metrics to achieve optimal Customer Success.
How does your organization stack up for Customer Success?
Are you firing on all cylinders or do you have blind spots that you haven’t considered?
There are multiple ways to measure your Customer Success efforts. One long way is to complete a detailed audit of your organization or bring in a team of experts to identify where you are winning and lacking.
A faster, easier, and less expensive way is through the DGE Customer Success Assessment.
The DGE Customer Success Assessment is a short, 26 question survey. After completing the assessment, you will instantly receive your customized results including three tailored improvement strategies for each of the questions along with information on how you compare with the industry. You can take it from there or seamlessly schedule a web-meeting or call with me to discuss the findings and prioritize the improvement opportunities. Get Started Now.
My next article will talk about easy and implementable changes you can make that retain and expand customer relationships, improve your Customer Success, and drive revenue growth.
Questions? Comments? Share your thoughts below!
Bob Dunn is the CEO of Dunn Growth Experts, an industry leading consultancy and online consulting provider. With 35 years of experience growing revenue, they offer fast turnaround and high-quality consulting for businesses and individuals. With a mission to help their clients meet and exceed revenue growth and value creation goals and expectations, Dunn Growth Experts has helped US and international organizations grow their success.
For more information about Dunn Growth Experts, please visit: www.dunngrowthexperts.com
Keywords: Customer Success; organizational growth; Enterprise value; consulting; churn; customer acquisition; customer retention; revenue; Dunn Growth Experts; customers; revenue growth; SaaS; technology; cloud; managed services; subscription; renewal; expand; expansion; onboarding; adoption; utilization; advocacy; customer journey; customer experience; growth; retention;