CSM Practice

MAY 13, 2020

We encourage you to explore the consolidated results of the survey to improve your understanding of business trends, to implement new customer retention strategies. The key findings arising from our survey results are as follows: Customer Engagement. Renewals and Upsell Deals. Sales and Customer Success.

SaaS 83

SaaS Surveys Upselling Customer retention 83

CustomerSuccessBox

MARCH 25, 2021

No matter what era we live in, customer retention is something that will never fade away. Let’s see the process of acquiring new customers. You’ve spent considerable time creating various marketing and sales funnels to convince your customer how your product can solve their problems. Upsell, Expand, and Grow.

Customer retention 52

Customer retention SaaS B2B Upselling 52

ChurnZero

JUNE 23, 2023

In turn, the swing has rightfully put an increased focus on customer retention. That conjures the question: how do you know if your customer retention rate is good or not? Fortunately, SaaS Capital , which provides debt financing to growth companies, recently published its annual B2B SaaS retention study.

Benchmark 52

Benchmark Customer retention SaaS B2B 52

CCNG

OCTOBER 19, 2022

(Oracle, 2011) Businesses have a 60 to 70% chance of selling to an existing customer while the probability of selling to a new prospect is only 5% to 20%. Marketing Metrics, 2010) Increasing customer retention rates by 5% increases profits anywhere from 25% to 95%. Another 28% are willing to give mobile messaging a chance.

Customer Experience 195

Customer Experience Journey mapping Metrics Surveys 195

ChurnZero

DECEMBER 20, 2019

20 Customer Success Predictions for 2020 . Fast forward to 2020 and Wi-Fi has become the lifeline to our (digital) existence—with almost half of the 7.7 T hat’s why we asked some of the top Customer Success (CS) leaders to share their industry predictions for 2020. The year was 1909.

Chief Customer Officer 61

Chief Customer Officer Sales SaaS Customer centricity 61

JustCall

FEBRUARY 5, 2020

With 2020 opening up, the education industry is all set to witness more advancements. As for the Sales, the team would be able to keep the count of an exact number of leads and customers in specific pipelines. Also, specific notes, tagging, and pipelines would assist the sales team in upselling and cross-selling. automation.

Education 84

Education CRM Sales Upselling 84

CSM Practice

DECEMBER 7, 2020

CSM Leader Optimizes Customer Success Strategies and Processes in collaboration with top thought leaders in its industry. Dec 1, 2020 — Today, CSM Practice, the world’s first consulting firm dedicated to Customer Success Management (CSM) strategy, announced the formation of its new Advisory Board. Sunnyvale, Calif.—

Chief Customer Officer 81

Chief Customer Officer Upselling SaaS Consulting 81

JustCall

FEBRUARY 25, 2020

The year 2020 calls for progressive financial services. This aids in Upselling or Cross-selling. Establishing automation around workflow helps retain your potential customers. It also aids strategies like upselling. With its efficient sales pipeline management and customer retention features, it fits the budget as well.

Finance 59

Finance CRM Accountability Sales 59

CustomerSuccessBox

SEPTEMBER 7, 2021

With Customer Success teams who work on onboarding automation and efficiency to set their customers up for a strong initial footing, this will result in long-term success. Pro Tip: Designing a Customer Onboarding Framework for B2B SaaS. #2 Data plays a vital role in customer retention and growth and hence in customer success.

Journey mapping 96

Journey mapping Engineering SaaS Upselling 96

Kayako

APRIL 1, 2022

Drive sales and grow customer loyalty with email, social, live chat, and help center support software. Even before the global pandemic spiked eCommerce shopping and doubled online sales in 2020, growth forecasts for eCommerce showed a steady increase in sales and the percentage of total retail sales. Continued Growth in ECommerce.

Sales 90

Sales Upselling Personalization Chatbots 90

CSM Practice

SEPTEMBER 25, 2020

Video Title: Importance of Customer Success Strategy investments. Interview Date: July 18, 2020. Host: Irit Eizips , Chief Customer Officer & CEO | CSM Practice. 06:27 – Nick’s overview of cross-selling and upsell trends for existing customers. 18:32 – Nick Mehta’s New Book: The Customer Success Economy.

Upselling 85

Upselling Surveys Chief Customer Officer Consulting 85

CustomerSuccessBox

JULY 2, 2021

They act as catalyst for customer retention. . How are customer success managers measured? Most common KPIs for customer success managers is renewals. Additionally customer retention they may also be responsible for driving customer onboarding, upsells. . What do Customer success managers do?

Management 52

Management Customer retention Upselling Accountability 52

CustomerSuccessBox

JUNE 28, 2021

But, the year 2020 has seen a boom in the Customer Success space, as a lot of SaaS businesses are now identifying Customer Success as a strong business imperative. The companies have realized the importance of customer success in an overall increase in revenue and profitability. Identifying Goals for Customer Success.

SaaS 52

SaaS B2C Customer retention Upselling 52

CustomerSuccessBox

JUNE 18, 2021

Why is Customer Retention Important for B2B SaaS Business? Onboarding your customers is just a first step in the whole process and retaining them is the next important thing. Learn how to lower Customer churn which is a major problem that requires immediate attention. Retention, Renewal, and Upsell Strategies.

SaaS 52

SaaS B2B Customer retention Upselling 52

CSM Practice

JULY 6, 2020

The Pacific Crest 2016 survey shows that the median cost of acquiring an ACV dollar for new customers is $1.16. On the other hand, the median cost of acquiring the ACV dollar for plan expansions and upsells is only about $0.20 There are three types of expansion selling plays you can make for your installed customer base: 1. Upsell.

SaaS 71

SaaS Upselling Accountability Sales 71

CSM Practice

JULY 6, 2020

The Pacific Crest 2016 survey shows that the median cost of acquiring an ACV dollar for new customers is $1.16. On the other hand, the median cost of acquiring the ACV dollar for plan expansions and upsells is only about $0.20 There are three types of expansion selling plays you can make for your installed customer base: 1. Upsell.

SaaS 71

SaaS Upselling Accountability Sales 71

ChurnZero

JANUARY 26, 2021

Customer success continues to evolve as a practice within companies that enjoy recurring revenue models. The range of responsibilities of Customer Success Managers (CSM) in the industry is dizzying. From technical support to renewals and upselling, this role might be one of the most confusing and misunderstood jobs in all of tech. .

Management 98

Management Chief Customer Officer Upselling SaaS 98

ChurnZero

JUNE 10, 2020

Across all industries, somewhere between 20%-70% of newly acquired customers will stop doing business with a company with their first 100 days of being a new customer because they feel neglected in the early stages of customer onboarding.

SaaS 69

SaaS Upselling Sales Customer emotions 69

Totango

JUNE 12, 2020

As America gets back to work and begins recovering from the economic downturn and delays that accompanied the 2020 pandemic, companies are discovering they must focus on their customers more than ever to remain competitive. . Shared insight delivers the needed customer context. They respond with continued renewals and upsells.

Customer centricity 62

Customer centricity Upselling Customer retention Accountability 62

ChurnZero

JANUARY 17, 2020

“In a SaaS company it is vitally important to know how and when my customers are using the platform in order to take advantage of a patterns… [one can] see an upsell opportunity or save a customer from churning by seeing a decline in usage.” . Or perhaps upsell opportunities? . Request a demo here. .

Best practices 72

Best practices Upselling Accountability SaaS 72

CustomerSuccessBox

JUNE 29, 2021

They act as catalyst for customer retention. . How are customer success managers measured? Most common KPIs for customer success managers is renewals. Additionally customer retention they may also be responsible for driving customer onboarding, upsells. . What do Customer success managers do?

Management 40

Management Customer retention Upselling Accountability 40

ChurnZero

JULY 9, 2020

Uncover Opportunities With Upsell Campaigns. When Customer Success is armed with customer product usage and sentiment data, they can easily identify the right customers and the right time to target the account for an upsell or cross-sell. Fulfill Your Customers If You Want to Retain Them.

SaaS 64

SaaS Marketing Upselling Chief Customer Officer 64

Education Services Group

OCTOBER 28, 2020

Always look at the bigger picture and assess the situation and the status of your customers to clearly identify what they really need in order to achieve their goals and desired outcome for their business. Since 2013, Irit has been pivotal in shaping Customer Success best practices. About the Guest Contributor.

Chief Customer Officer 45

Chief Customer Officer Best practices Upselling Customer retention 45

Education Services Group

JUNE 29, 2019

In fact, Frederick Reichheld of Bain & Company (inventor of the Net Promoter Score) has shown through research that increasing customer retention rates by just five percent can boost profits anywhere from 25 to 95 percent. Customer Success Is a Constant Process. Model 2: Customer Success Handles Renewals.

SaaS 40

SaaS Upselling Customer retention B2B 40

ChurnZero

JUNE 28, 2019

If you are a Tetris player or a Customer Success Manager (CSM), you know that small actions can have huge impacts and yield unexpected results. As a Customer Success professional, you should always be thinking one step ahead. The same can be said when it comes to the complex nature of many B2B SaaS products.

B2B 49

B2B B2C Entertainment Customer advocacy 49

Education Services Group

MAY 23, 2022

Who owns the renewal and upsell/cross-sell process? You decide which outcome would be best for your business: When the CS org owns the upsell process, “technology subscription growth rates increase 9% points over companies that leave that task to Sales Executives.”. Wood, President and CEO of TSIA reported in his closing keynote.

Upselling 52

Upselling Sales Marketing Management 52

Lumoa

MARCH 20, 2018

more friendly behavior in customer service) Marketing to take the info into account in better targeting (e.g. upselling to the most loyal customers) Process changes (e.g. informing the customer more often how the repair is proceeding) Only after you have acted on feedback, customer experience processes are developing.

Customer Experience 107

Customer Experience B2C Journey mapping B2B 107

JivoChat

APRIL 8, 2021

The more you can facilitate a smooth customer journey and enjoyable experience, the more likely it is people will complete purchases—and return for more. Increase Customer Retention. Here’s something to think about: Customer retention is five times cheaper than acquisition. Key features: Chatbot widget.

Sales 52

Sales Chatbots Brand ambassadors Surveys 52

JivoChat

JUNE 15, 2021

Pricing | Install on your Shopify store : The platform is free to install, with migration costs based on the total number of orders, products, customers, and blog posts. With Shopify’s upsell and cross-selling apps , you don’t need a live customer service rep to boost your sales. Used for: Post-purchase upsells.

Upselling 52

Upselling Analytics Sales Marketing 52

Education Services Group

SEPTEMBER 19, 2022

upsell, and cross-sell. Studies show that businesses benefit greatly when Customer Success gets involved with these activities. My last piece of advice for my colleagues in the Customer Success community is to try to balance out the bad with the good.

Upselling 52

Upselling Sales Marketing Technology 52

CustomerSuccessBox

JANUARY 2, 2022

Eventful years like 2020 and 2021 have challenged the old traditions pertaining to Customer Success (CS). As we enter another year, Customer Success is poised to be more sophisticated. A comprehensive analysis of how a customer journey would be is what differentiates a great organization from an average one.

SaaS 52

SaaS Metrics Upselling Accountability 52

Quiq

NOVEMBER 24, 2021

Solving customer problems, listening to complaints, providing answers… it’s all worth more than the sum of its parts. This customer experience often has a direct impact on sales. It affects loyalty, how likely customers are to recommend your brand and more. . Build a culture of effective customer communication.

Chatbots 52

Chatbots Surveys Upselling Banking 52

Balto

AUGUST 3, 2022

Companies that have personal interactions with a large segment of their customers see a 1-2% increase in total sales due to increases in loyalty. Customer acquisition is five to twenty-five times more expensive than customer retention. What are they doing that leads to that higher customer NPS and CSAT?

Contact Center 52

Contact Center Interactive Voice Response Surveys Self service 52

aircall

NOVEMBER 17, 2016

In 2017, customer service trends will continue to drive success. Customer service is the new marketing, don’t you know? Some customer service trends will fall by the wayside, others will be increasingly decisive. By 2020, people will own an average of twenty connected devices, each.

Customer Service 54

Customer Service Self service Brand ambassadors virtual call center 54

Comm100

OCTOBER 11, 2017

be adequately equipped or trained to reach out to these customers and handle their individual complaints, not having a jointly-owned social media strategy means that your representatives are probably not well-equipped enough to form a plan to prevent this from occurring again. Lower Retention Rates. Better Customer Retention.

Customer Service 68

Customer Service Customer Care Morale Marketing 68

ChurnZero

OCTOBER 25, 2019

If you would like to hear more from our guest speaker Jason Whitehead, check out his podcast- “ The Jasons Take On… ” which is an unplugged conversational series on key Customer Success topics. How to Get 20/20 Foresight for Your 2020 Customer Success Planning. Analyzing performance for 2020 forecasting.

Chief Customer Officer 49

Chief Customer Officer SaaS Customer advocacy Sales 49

JustCall

NOVEMBER 24, 2022

Create a clearly defined plan that gives structure to your presentation, like a good pitch, to increase conversion rates, convert more leads into deals, and ensure that all of your sales reps deliver positive and consistent customer experiences. This can offer upsell and cross-sell opportunities or referrals from satisfied customers.

Sales 52

Sales B2B Surveys B2C 52