There’s no doubt that one hasn’t heard about the importance of Customer Success. It is an extended version of customer care and is now a key accommodation in every company. It is neither magic nor short-term but it actually challenges you on how well you treat your customers. Acquiring new customers as well as retaining them is the key to running a thriving business. Many companies are quickly implementing the up-and-coming methodology, centered around helping customers succeed. So, here we discuss and talk about all the aspects related to Customer Success and its significance in the B2C world.
WHAT IS CUSTOMER SUCCESS?
In layman’s terms, Customer Success is nothing but building a relationship with the clients or customers wherein they get their desired outcome and are satisfied by your product or your services. For every company it’s means may be different but commonly it is a department that aims mainly at the customer-company relationship. Amid impressing your customers one should also make sure that they don’t implement a scheme that results in the company’s losses. Now it is one of the foremost things to achieve while doing a business as mainly the stream of income is generated from the customers and it is vital to look whether they are satisfied or not which can help build customer loyalty and retention of clients or customers. Ultimately if they aren’t satisfied they won’t use your service or product again which subsequently causes heavy losses.
WHY DO BUSINESS NEED CUSTOMER SUCCESS?
Your business is totally intertwined with the satisfaction level of your customers. The more satisfied customers, the more is the success of your business. As a business, you must ensure your customers are satisfied through various processes and most importantly by data. Also, there is a possibility of direct marketing by a customer of yours to others which effectively will strengthen your business reputation. Decreased customer acquisition costs will always benefit your business. A study supports this theory which says that it takes 5% to 20% more cost for acquiring a customer rather than retention.
WHO NEEDS A CUSTOMER SUCCESS STRATEGY?
All the businesses which wish to expand their business and find new customers should definitely invest in this strategy. Also, research proves that 21% of the budding companies are willing to prioritize Customer Success Strategy. These are the times where not only India’s but the entire world economy is indecorous it is a very tedious job to find new customers. As a result of which it is an obligation to retain the existing set customers.
CUSTOMER SUCCESS VS CUSTOMER SERVICE VS ACCOUNT MANAGEMENT
Customer service is just about working proactively which indulges the customers to get the best value for their price and ensure a successful path in the future.
Whereas Customer Service is an altogether different concept. Customers may have some petty or major problems so they submit tickets, send emails, or make phone calls and as being a responsive business it’s your duty to address their problems. This is what Customer Service is all about.
It is not very distinct from Customer Service but yet has certain distinctions from the latter. This is an agency-era-generated concept wherein Account Managers handle the problems of the customers. In a nutshell, it is an after-sales service that looks forward to accomplishing the clients’ goals and nurture relationships with them.
CUSTOMER SUCCESS VS CUSTOMER EXPERIENCE
Customer Service is nothing else but knowing what their customers expect from them and trying their level best to fulfill all those expectations owing to which customers use their product or service again and again.
Customer Experience is nothing but a holistic view of your company’s perception in their minds when they communicate with the company. It is a very important way to know your customers’ reviews and what can they do better to improve their services. Hence, it is said that Customer Experience is of utmost importance and hence it is said that customer success strategy would be incomplete without taking into consideration overall customer experience.
WHY DOES CUSTOMER SUCCESS MANAGEMENT MATTER?
Customer Success is the bottom line that helps you reduce churn rate, improve renewal and satisfaction which will ultimately boost the revenues. Not only this but also it will make a strong bond with the customers and hence, enhance the customer and brand loyalty. Satisfying customers is the main aim of a business as without them it cannot flourish. Not only in our county but the major giants in the world have known the importance of these Customer Service tools which is supported by a stat which says that from 2015 to 2018 the usage of CS Platforms rose from 25% to a whopping 43%. Exceptional customer service is all that a business needs to provide and provide positive customer service will later or sooner show definite results. Thus, in a nutshell, Customer Success Management is equally important as managing a company’s accounts or its growth as a business cannot thrive without either of them. Bottom line is that Customer Success can make your company or literally break it.
COMPONENTS OF CUSTOMER SERVICE SOLUTIONS
Overall customer experience
The main reason that a customer calls customer service is that they wish to help you out with the issues they face. And in return what they expect is a gocustomerod service that promotes trust and a feeling of care.
Top-tier knowledge
Always make sure that all the people in the customer care department are well acquainted with their work. As no two customers are the same they want people on the other line to understand their problems and suggest a solution for the same.
Friendliness
It’s quite mandatory to maintain a friendly tone no matter what’s the temperature of the customer. Also, make sure one speaks simple phrases like “Happy to help”, “That’s a very good question, let me find a solution for you” and last but not the least “Thank You for contacting us. Hope we have solved your issue and have a good day ahead”. This creates long-term customers owing to your friendly and calm attitude.
First call resolution
For retaining customers it is necessary that you make sure they don’t have to call more than once for resolving their issues. Not only this but also first call resolution reduces costs for operating costs by decreasing the number of calls that the customers make.
IS CUSTOMER SUCCESS RIGHT FOR YOUR BUSINESS?
It’s a no-brainer that it is opting for your business. It is not something illegal or unethical so you can adapt it for growing your business. Millions of companies around the world use this methodology to increase their sales and nurture their relationships with their clients and customers, so why can’t you?
HOW DOES CUSTOMER SUCCESS WORK?
Customers get an affinity that if they have any issues or obstacles there is someone who they can address. So, this creates brand loyalty which helps you retain customers for the very long run. All that the customers want is someone helping them out in case of any uncertainty. And this problem is solved using the Customer Success Strategy. For this, the company needs to create a Customer Success Solution which then needs to get training on how to behave with the customers and they just keep enhancing their skills.
5 USEFUL STRATEGIES OF CUSTOMER SUCCESS
- Understand your customer journey
This strategy not only for new customers but also for old ones and retaining them. Not all people will know about your brand whereas some might be ready to purchase. So, firstly you need to identify the stage and then make sure you transfer them to the next one.
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Pay attention to personalization
Personalization is a strategy that can reach your customer success to an all-time high like none other. Once you have identified what the customer is exactly looking for you can provide them with that. For that, you can personalize the text messages you send to everyone or create a smart chat box that will help you know what the customer wants via a series of questions.
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Providing great onboard experience
Once they start using your product make sure it is easily accessible and compatible with them. Make sure the process to use the product is not very complex and always keep it simple. For further clarification of the customers, you can create a YouTube channel for showing them the instructions. The biggest advantage is that the customers can access it whenever they want.
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Collect feedback
It’s a harsh fact that as a business you cannot impress everyone as they have different tastes, choices, etc. only thing you can do is improve. When your customers are going for a new brand make sure you know where you went wrong. For that prepare an online survey and feedback form for them and work on the flaws they have mentioned there.
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Leverage the right tools
Being available all the time for your customers can be a lot of time-consuming so using the right tools is the solution for it. From advanced tools to CRM to Email automation or be it social media marketing you need to keep it all in your arsenal to make the process smoother. These tools can help you know the flaws because of which they are switching the brand. It also helps in upselling and cross-selling your products and a great way to optimize relationships with clients.
Conclusion
In the world, the most successful businesses are those who have customers fully satisfied in their truest means. This will effectively help in flourishing your business and maintaining a good reputation in the mind of the customers. Not only this but also it creates long-term relationships with the customers and helps your business flourish and grow. This is why Customer Success has become such a vital part of the company’s success in recent years.