Follow these 5 Steps to Build Customer Success Strategy
We hear several new terminologies in the business world. One of the most recent buzzwords is Customer Success Strategy. People are continually sharing tips about how the industry can benefit from it. Customer success strategy was initially limited to providing customer support or managing accounts. But now, the way you should interact with a customer has completely changed. The first thing towards a successful customer success strategy is a perfect plan of action which provides an impactful customer engagement solution.
I have listed some of the fundamental steps of customer success strategy below.
1. Know Your Customers In And Out
The first step towards any solution related to your customers is to identify your potential customers followed by their key business outcomes. It is a dual-level process where at the enterprise level you need to understand the needs of your customer and how your product can help them achieve it. Hence, you need to define specific metrics for each of your business results and then link it to the corresponding ROI that your product will render relating to those key metrics.
However, the quest for a customer success strategy does not end here you need to identify the KPI’s and the essential elements that drive the user behavior. User adoption is more about an organizational performance than technical complexities. Understanding how customer organization perceives organizational changes is necessary to build a successful customer success strategy.
2. Identify the Company’s Success Capabilities
Developing a successful marketing strategy does not happen in a day. If you are not able to match the customer’s success solution with organizational viability, then it can be disastrous. The key metrics, approach, and goals of a company vary depending on its customer success capabilities. From the very early CPR stage to complex stages of acquisition and growth all affect the key focal points of customer success strategy. Irrespective of what you wish to focus on whether it is the net promoter score or dollar churn, the strategy you deploy will change according to the maturity scale of your organization.
3. Balance the Customer Needs with Your Resources
If you treat your entire customer base the same way and do not offer personalized attention that they deserve, then you leave them unsatisfied. Sometimes you even lose your valuable customers. Therefore categorize your customers by revenue and other factors, and then decide which type of service you should provide to which customer category. Your services can range from services of automation to personalized services. It will help you retain your old customers and gain new ones.
The other thing is to analyze your functionality build-up and the chief components your company has deployed for a thriving customer success strategy. Does it lack any element that is important for a customer success strategy? Do you build them or buy it from a third party?
4. Track the Customer Journey
You cannot measure Customer success on some pre-defined metrics like sales, pre-churn crisis moment or acquisition. A comprehensive study traces the entire customer lifecycle. Therefore, the fundamental points that need dedicated resources are a customer onboarding, consulting, customer services, customer training, and renewals. A clear metrics covering these points should be made available with well-defined hand-offs. Thus your customers can quickly transit from one to the other.
5. A Free-Flowing Environment For Customer Conversation
Customer success is all about the seamless interchange of information between you and your customers. It is necessary that your customers have a proper platform to communicate and share their feedbacks. As a result, feedback helps you to improve your working strategy and understand the touchpoints where you might be lagging.
How to Create an Effective Feedback Strategy?
- You need to create multiple contact-points so that you are easily accessible to your customers.
- Set up a formal mechanism to collect and accumulate customer’s inputs obtained through surveys and focus groups. For example, feedback forms or online surveys where you shoot vital questions to your business.
- Proper setup for implementing the changes in your business models depending on the feedback received. Prepare your organization to adapt to new technologies and business processes smoothly.
Customer success is all about the overall customer journey. If as an organization you fail to understand or learn and adapt according to it then you can never form a successful customer success strategy.