Author and Motivational Speaker Jim Rohn said “If you make a sale, you can make a living. If you make an investment of time and good service in a customer, you can make a fortune.” True enough, a study by Deloitte and Touche found that customer-centric companies are 60% more profitable compared to companies that were not focused on the customer.
In the current business landscape, those who understand the value of keeping customers happy are taking a step further than the usual customer support. They are now investing in customer success. But what is customer success and why is it important?
According to HubSpot, customer success is anticipating customer challenges or questions and proactively providing solutions and answers. While customer support teams and helpdesks focus on resolving customer issues, customer success teams endeavor to recognize customer needs and effect change in order to avert potential customer problems. Customer success management entails owning the entire customer relationship with the goal of nurturing a long-term partnership.
Customer success may be achieved by:
- Encouraging customer feedback through customer surveys
- Analyzing the feedback, performance, and retention rates of customers and using the information gathered to improve product, service, and processes to be more aligned with customer wants and needs
- Fostering a corporate culture that advocates operational excellence to satisfy customers needs
- Being flexible in order to be able to offer solutions tailor-fit to customer needs
For a managed customer relationship management (CRM) service provider, treating a client’s business as its own inspires customer success to secure highly satisfied customers who become advocates for the client’s brand. The fact is that the cost of procuring customers has been escalating and by delivering continuous value to its clients’ customers, the provider also helps optimize costs by leveraging customer referrals. Aside from the basic managed service responsibilities like driving performance, providing necessary team training and development and engagement, and the establishment and management of processes and overall operations, a reliable managed service partner develops strategies to help a client grow their business.
Customer success helps boost customer happiness, thereby uplifting customer loyalty while reducing churn, leading to revenue growth. Simply put, customer success leads to business success.
About the author:
Freya Delos Santos is a Senior Operations Business Partner at Eastvantage. She has 14 years of experience in the BPO industry, eight of which in operations management. She has demonstrated the ability to lead diverse teams of professionals handling different operation management domains including performance management, workforce management, recruitment, training and development, mentoring and people development, and customer relationship management. Freya is an action-oriented leader, with a strong focus in driving the right behaviors to deliver the best results.
The Eastvantage team delivers inspired results through its customer support services.