A new year, a new start! Wish your company could make improvements to your customer success program in 2016? We have 7 New Year’s Resolutions that will change your Customer Success world for the better!
Resolution #4: Get in shape! (Cut churn with data-driven analytics)
2016 is here! Gym memberships are skyrocketing with the #1 New Year’s resolution, get in shape and get healthy. It’s always easier to get in shape if you understand how your body responds to different foods and exercise routines. Keeping your customer base healthy is similar. If you understand which accounts are in good health, which accounts need more attention, and why, you can take the right actions and increase customer health and reduce churn. Setting up data-driven health scores specifically tailored to your product is a crucial part for customer success.
Holy Moly! Proven Results: Both Sysomos and Jazz struggled with understanding how their customers were using their product and what it was that led to churn. Both companies were able to implement health scores that successfully predict which customers are at risk of churn and help them understand how to take corrective action.
Customer: Sysomos Jeff Cann, Sr. Director of Client Experiences, explains that Sysomos had a strong product and was growing rapidly. However, they struggled with understanding how customers were progressing along the customer journey and whether or not they were realizing benefits from the Sysomos solution. Once they implemented Totango, they were able to get a reliable health score and use customer health insights to improve the customer experience. With the right analytics and insights in place, Sysomos reduced overall churn by 25% in just one year!
Customer: Jazz (formerly The Resumator) Similar to Sysomos, Kristen Hayer, former VP of Customer Success at Jazz explains in an interview that they struggled with understanding what made their customers churn. By using a Totango health score combined with other useful data points, Jazz was able to create a successful “churn-risk score” that gave them the right insights to reach out to unhealthy customers and de-risk them before it was too late.
Getting started: Start thinking about what makes a healthy customer for your product. Do you have the right customer health score to make sure you are maintaining happy customers? Not sure where to start, let us show you how.