{"id":3237,"date":"2020-08-27T19:06:38","date_gmt":"2020-08-27T19:06:38","guid":{"rendered":"https:\/\/wiki.thomasandsofia.com\/?p=3237"},"modified":"2020-08-27T19:16:00","modified_gmt":"2020-08-27T19:16:00","slug":"csmf-customer-success-101","status":"publish","type":"post","link":"https:\/\/wiki.thomasandsofia.com\/?p=3237","title":{"rendered":"CSMF &#8211; Customer Success 101"},"content":{"rendered":"<p><a href=\"\/csmf-how-to-follow-this-course\/\">&lt;1 How to follow this course<\/a> | <a href=\"\/csmf-customer-success-manager\/\">3 Customer Success Manager &gt;<\/a><\/p>\n<h1>5. What is Customer Success and why is it so important<\/h1>\n<p><a href=\"https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511286#overview\" target=\"_blank\" rel=\"noopener\">https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511286#overview<\/a><\/p>\n<ul>\n<li>Stop churn and make them happy<\/li>\n<li>Improve sales and referrals<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h1>6. What if your Customer Success management sucks?<\/h1>\n<p><a href=\"https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511288#overview\" target=\"_blank\" rel=\"noopener\">https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511288#overview<\/a><\/p>\n<ul>\n<li>Terrible renewals and awful churn<\/li>\n<li>Invest too much into sales<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h1>7. When should you start worrying about Customer Success<\/h1>\n<p><a href=\"https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511290#overview\" target=\"_blank\" rel=\"noopener\">https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511290#overview<\/a><\/p>\n<ul>\n<li>Right away<\/li>\n<li>Most income comes from renewals.<\/li>\n<li>1% churn \/ month is really bad<\/li>\n<li>3% &#8211; 5% annually is probably OK<\/li>\n<li>Customer success managers teach clients how to sell\/use product.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h1>8. Purpose, People and Culture<\/h1>\n<p><a href=\"https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511292#overview\" target=\"_blank\" rel=\"noopener\">https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511292#overview<\/a><\/p>\n<ul>\n<li>Client must find product valuable\n<ul>\n<li>Without it, I will be less (productive, profitable, etc.)<\/li>\n<li>Customers that achieve the expected goals will keep paying<\/li>\n<\/ul>\n<\/li>\n<li>The curse of knowledge\n<ul>\n<li>Some people see problems where we do not see them<\/li>\n<li>We need to understand our clients needs and goals<\/li>\n<li>What is success for them?\u00a0 What is their goal?<\/li>\n<\/ul>\n<\/li>\n<li>Wrong expectations create churn<\/li>\n<li>Everyone in the company must be part of the Customer Success culture.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h1>9. Terminology<\/h1>\n<p><a href=\"https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511300#overview\" target=\"_blank\" rel=\"noopener\">https:\/\/www.udemy.com\/course\/customer-success-manager\/learn\/lecture\/4511300#overview<\/a><\/p>\n<ul>\n<li><strong>Churn:<\/strong> Amount of clients that you lose.<\/li>\n<li><strong>Retention:<\/strong> Amount of clients that you keep\/renew<\/li>\n<li><strong>Adoption:<\/strong> How well, or how much are you customers using your product.<\/li>\n<li><span style=\"color: #ff0000;\"><strong>Expansion:<\/strong><\/span><\/li>\n<li><strong>Engagement<\/strong>: Interactions with the customer\n<ul>\n<li>Email<\/li>\n<li>Phone<\/li>\n<li>Quarterly business reviews\n<ul>\n<li>Discuss how much value was realize by use of the product.<\/li>\n<li>How happy are you<\/li>\n<li>How can I improve?<\/li>\n<li>Get feedback so I can be better for them.<\/li>\n<\/ul>\n<\/li>\n<li>Webinars<\/li>\n<li>Crazy Parties<\/li>\n<li>Any interaction you can provoke<\/li>\n<li>Measured in customer participation<\/li>\n<\/ul>\n<\/li>\n<li><strong>MRR:<\/strong> Monthly Recurring Revenue. ARR \/ 12<\/li>\n<li><strong>ARR:<\/strong> Annual Recurring Revenue.\u00a0 MRR * 12\n<ul>\n<li>TCV: Total Contract Value<\/li>\n<li>TAV: Total Account Value<\/li>\n<li>ACV: Annual Contract Value<\/li>\n<li>ASV: Annual Subscription Value<\/li>\n<\/ul>\n<\/li>\n<li><strong>NPS:<\/strong> Net Promoter Score<\/li>\n<li><strong>Customer Onboarding:<\/strong> Steps to getting your customer to use your product or service\n<ul>\n<li>I also used this time to go over order line items to ensure accuracy and see if there were any holes\n<ul>\n<li>No backup?<\/li>\n<li>No Support?<\/li>\n<\/ul>\n<\/li>\n<li>An On Boarded client is one that has gotten some real value from using the product\/service<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&lt;1 How to follow this course | 3 Customer Success Manager &gt; 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 &nbsp; 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 &nbsp; ..<\/p>\n<div class=\"clear-fix\"><\/div>\n<p><a href=\"https:\/\/wiki.thomasandsofia.com\/?p=3237\" title=\"read more...\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":["post-3237","post","type-post","status-publish","format-standard","hentry","category-customer-success"],"_links":{"self":[{"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=\/wp\/v2\/posts\/3237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3237"}],"version-history":[{"count":2,"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=\/wp\/v2\/posts\/3237\/revisions"}],"predecessor-version":[{"id":3244,"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=\/wp\/v2\/posts\/3237\/revisions\/3244"}],"wp:attachment":[{"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wiki.thomasandsofia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}