Fundamentals: Basic Leading and Lagging Indicators in Customer Success
Leading and lagging indicators provide useful ways to look at the cause and effect relationship among various KPIs. It can get a bit complicated the deeper you dive. To keep things simple, think about breaking things down to an ACTIONS=RESULT equation, where leading indicators represent the action and lagging indicators the result. To apply this, […]read more
Strategies for Making High-Touch and Tech-Touch Friends, Not Enemies.
Today’s customers expect (and sometimes demand) a never-ending wheel of attraction, engagement, and retention after purchasing both the simplest and most complex of SaaS offerings. So, when the volume of customers creeps up, and we’re focused on deploying a tech-touch heavy approach, how do we stay engaged with the personal element of our customers? And […]read more
Fundamentals: Focus on Retaining your Mid-tier Customers
Here we are in the midst of “the dog days of summer.” That time when productivity ebbs and new customer acquisition slows down. It seems people are more focused on vacations with the family and road trips to the beach than they are on actual business. Who can blame you for soaking up those last […]read more
So, What’s an Acceptable Churn Rate?
From customer satisfaction to revenue, SaaS companies have many factors to worry about when it comes to keeping their business not only afloat, but also thriving. One such factor: What is your churn rate, and what can you do to decrease it? Reality check: these are critical questions, but they don’t have such a straightforward […]read more
The Customer Birth Certificate (CBC)
When you think of the milestones in life, you may think of graduating college, your first corporate job, marriage, parenthood, retirement, and building a legacy. And, some of these life events don’t even happen in sequential order (or at all). More often, they come in a “non-traditional” order and one is not a prerequisite to […]read more
Understanding the Connection Between Customer Success and Renewals
According to Harvard Business Review, acquiring a new customer is somewhere between five and 25 times more expensive than keeping a customer you already have, depending on what line of work you’re in. Think about all the time, energy, and money you spend on attracting new visitors, pursuing new leads, and closing new sales — […]read more
Who Owns Your Customer Communication? Marketing or Customer Success?
Fact: keeping customers is more cost effective than adding new ones. The numbers vary depending on industry, time scale, and who you ask, but the consensus is that it’s five to ten times more expensive to acquire a new customer than it is to retain an existing one. Furthermore, existing customers are more likely to […]read more
Customer Success Tools: The New ATM?
In the 1980s, ATMs started to become widespread in banks across the country. Bank customers didn’t have to go up to the counter or interact with a human being at all in order to make a deposit or withdrawal, and tellers were worried. They thought ATMs would replace them, making their jobs unnecessary and at […]read more
How To Measure Customer Adoption
Imagine one of those food subscription services that sends you the ingredients to easily make meals at home — we’ll call it FoodBox. You sign up for a FoodBox subscription that sends you five dinners for the week, and the box arrives the following Monday. As it turns out, some of the recipes are too […]read more
Back To Basics — How To Talk To Your Customers
There’s an old joke about a naval officer who sees a blip on the radar and gets on the radio to tell them to change course. The person on the other end of the radio refuses, telling the naval officer that he should change his course instead. Indignant, the captain of the ship takes the […]read more