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Welcome to the latest edition of our weekly newsletter. This week we talk about:
You can get lost in the tactics
Know why your customers buy
This is your starting blocks
Let’s get into it…
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For many start-ups, it seems like there’s a million things you could be doing. In the post-sales side of the house, the absolute priority must be retaining customers. You can have the best sales force in the business, bringing in tons of new accounts, but if you can’t hold on to them, it means nothing. The tried and tested analogy of a leaky bucket fits well here.
It’s Quite Simple
But where to start? It won’t take more than a few minutes of online research to come across Customer Success tactics like Success Plans, NPS and CSAT scores, account plans, roadmaps, workshops, webinars, on so on and so forth. The Customer Success Manager’s toolbox is packed full of tools of the trade. But what is the one thing to keep at the front of mind? I think there’s a simple question that helps with this:
Why did they buy our software?
Having a very clear understanding of why your customers sign up for your product is a must. It’s the very foundation for everything else you will build. And this might sound obvious, but I have seen scenarios where people get so deep into the many tactics on offer that they have lost sight of why there are there.
This is a Company Wide Benefit
And it’s not just Customer Success that needs to know this. Every single department and team member should all have a very clear explanation of why customers sign up. You must all be pulling in the same direction. It makes everything so much easier. From Marketing, Business Development, Sales, Enablement etc. With this understanding at the very core of your business, everyone knows how they contribute to not just winning business, but also retaining it.
It’s Also the Starting Place for Customer Success
For Customer Success specifically, this understanding should also start to form the basis of your Success Plans. Whilst individual goals and objectives will vary from customer to customer, I guarantee that they will all be a variation on a theme. From here, you can also start to connect the various features and functions of your platform to the respective objectives. Again keeping this simple is the most effective way. Customers don’t need to use every part of the platform, but they do need to use the parts that help them solve their needs. Keep that in clear focus, and you’ll increase your retention rates by significant multiples.
Can you describe in one sentence why customers buy your product?