<1 How to follow this course | 3 Customer Success Manager >
5. What is Customer Success and why is it so important
https://www.udemy.com/course/customer-success-manager/learn/lecture/4511286#overview
- Stop churn and make them happy
- Improve sales and referrals
6. What if your Customer Success management sucks?
https://www.udemy.com/course/customer-success-manager/learn/lecture/4511288#overview
- Terrible renewals and awful churn
- Invest too much into sales
7. When should you start worrying about Customer Success
https://www.udemy.com/course/customer-success-manager/learn/lecture/4511290#overview
- Right away
- Most income comes from renewals.
- 1% churn / month is really bad
- 3% – 5% annually is probably OK
- Customer success managers teach clients how to sell/use product.
8. Purpose, People and Culture
https://www.udemy.com/course/customer-success-manager/learn/lecture/4511292#overview
- Client must find product valuable
- Without it, I will be less (productive, profitable, etc.)
- Customers that achieve the expected goals will keep paying
- The curse of knowledge
- Some people see problems where we do not see them
- We need to understand our clients needs and goals
- What is success for them? What is their goal?
- Wrong expectations create churn
- Everyone in the company must be part of the Customer Success culture.
9. Terminology
https://www.udemy.com/course/customer-success-manager/learn/lecture/4511300#overview
- Churn: Amount of clients that you lose.
- Retention: Amount of clients that you keep/renew
- Adoption: How well, or how much are you customers using your product.
- Expansion:
- Engagement: Interactions with the customer
- Phone
- Quarterly business reviews
- Discuss how much value was realize by use of the product.
- How happy are you
- How can I improve?
- Get feedback so I can be better for them.
- Webinars
- Crazy Parties
- Any interaction you can provoke
- Measured in customer participation
- MRR: Monthly Recurring Revenue. ARR / 12
- ARR: Annual Recurring Revenue. MRR * 12
- TCV: Total Contract Value
- TAV: Total Account Value
- ACV: Annual Contract Value
- ASV: Annual Subscription Value
- NPS: Net Promoter Score
- Customer Onboarding: Steps to getting your customer to use your product or service
- I also used this time to go over order line items to ensure accuracy and see if there were any holes
- No backup?
- No Support?
- An On Boarded client is one that has gotten some real value from using the product/service
- I also used this time to go over order line items to ensure accuracy and see if there were any holes