Welcome to another episode of our “Give me 5!” Series!
In our newest video, Deborah Preston, Director of Client Success at 2Checkout, is going to focus on Customer Success and will share some great tips on how to improve your strategies.
Customer Success improves the renewal process, reduces churn and ultimately drives revenue. For your company to grow, clients must be successful. A successful client – one who reaches their goals through using your product or service – is going to be satisfied, so strive to go that extra mile to achieve success and loyalty.
Not convinced? “Customer success is where 90% of the revenue is,” according to Jason Lemkin, venture capitalist, and we tend to agree with him.
There isn’t a customer success playbook that will work for every company, but here are 5 Customer Success Tips that will improve your strategy and the way you look at customer success.
Customer Success is extremely subjective. Every industry has a different perception of what success is.
Measuring customer success must be done from two angles, both yours and the customer’s. You should first define what success means for your business. Some traditional items to track include the lifetime value of your customers, customer retention rates, customer acquisition costs, Customer Satisfaction Score, Churn rate, and NPS scores.
Then, think of what success means for your clients: revenue targets, sales by channel, cart conversion rates, their end-customer satisfaction rates, and so on.
And remember that the metrics you choose must be SMART – specific, measurable, achievable, relevant to your and your clients business and time-bound.
Customers want to be approached individually, with solutions based specifically on their needs. Personalization is one of the hottest trends in eCommerce right now and leveraging it in your eCommerce strategy will definitely help grow your conversion rates and customer lifetime value.
Reminding customers of what they’ve achieved and setting milestones in their use of your products, and suggesting the next step strengthens customer relationships, encourages customers to keep learning and paves the way for success stories.
Customers today are used to getting what they want quickly. A customer community (on social, forums, etc.) gives them a place to find answers and learn more about your solution. It’s a place for listening to their needs, and at the same time, a place to train and educate them.
Another simple, yet highly effective, way to show your customers that you care about their success is to respond to them as quickly as possible when they ask for help. This can not only help you make your customers happy, but also enhance your brand’s reputation (and encourage customers to share their positive experiences).
Customer success is proactive by definition.
Responding quickly to your customers when they ask for help is important, but that doesn’t mean that you can’t proactively offer support to your customers before they even ask for it.
Over time, both your product and your customer base will evolve and mature. Especially for B2B, ongoing services and subscription-based products, consider scheduling periodic check-ins with your customers. It will help you keep better track of their issues and needs and identify additional ways to serve them.
Leverage existing customers in your marketing efforts, not just for you, but also to bring them additional visibility and credibility.
Case studies, guest speaking opportunities at events or webinars and video testimonials, are great examples of how you can do this. A customer-centric mindset not only enhances your business, but also helps you connect better with potential clients.
Always remember: the customer is your most significant asset. By always putting the client first, you are already on the right track.
Thanks for watching our video! Feel free to leave some feedback, good or bad, and we’ll see you next time, with more awesome commerce tips!
Want to learn how to successfully expand an online business globally? You can watch our previous “Give me 5!” episode here!