The Relationship Between Customer Retention and Profitability Explained
Every business needs to be able to make and increase profits. We go to exhaustive lengths to find new ways to make our businesses more profitable, but sometimes the answer is right in front of your nose: if you want
Why You Should Focus on Nurturing the Customer Relationship
The digital transformation of business has created a customer-centered economy where customers seek short-term commitments and value choice, flexibility, and personalized service. This has irrevocably changed how enterprises need to approach customers. Instead of capturing the bulk of customer value
Understanding the Importance of Customer Retention
You wouldn't throw your money away on the street, would you? Or drop it down the garbage disposal? If you’re not working hard to retain customers, you may as well—because you’ll be losing money. A one-time customer is a lost revenue
3 Tips for Improving the Enterprise Customer Experience
What’s your company’s most precious asset? It's not your inventory, your stock options, or your intellectual property. It’s your customers. Your business can’t exist without them, and if you want your business to last, you’ve got to make them happy.
The Top 5 Customer-Centric Goals for an Enterprise
These days, customers expect personalized service. Whether they’re shopping for software or a way to increase sales, they expect you to be right there next to them searching for every potential edge that will help them grow their business. The digital
The Benefits of Customer Lifetime Value: Why It Matters
What do America’s longest running companies all have in common? They focus on the big picture: customer lifetime value. If you want your business to last, you need to prioritize customer lifetime value, too. To succeed in today's customer-centered economy, you
How to Gather Customer Insights with CS Software
Customer Success (CS) software helps your enterprise understand what matters to your customers. And what matters most to your customers should matter most to you. The reality of the unique relationship you share with your customers is captured in the raw
What to Do About Low User Adoption
It’s been a little over a month since that enthusiastic new customer sailed through the onboarding phase. By now, they should be implementing your product into their daily workflow and enjoying the first signs of business value. Instead, your core metrics
How to Onboard New Clients in the Customer-Centered Economy
Imagine you’re a customer who’s just subscribed to a service or purchased a new product. In a perfect world, what would happen next? You’d probably begin using the product and discover it works exactly as described. The value of your
The Top 3 Customer Success Challenges and How to Beat Them
If you want your business to succeed, make sure your customers succeed. As the economy becomes more customer-centered, the need to foster customer success is more important than ever before. Achieving customer success means that your customers gain their desired value
Making the Most of the Customer Renewal Process
Renewal is a promise of future reward. In fact, an MRI study of the thought processes of loyal customers found that specific parts of the brain are activated when a customer sees a brand they like. Those illuminated parts of
What is Voice of Customer and How Can You Leverage It?
According to research by workplace collaboration specialist Atlassian, less than 1 in 5 people believe companies listen to their feedback. Whenever a customer offers feedback, they are giving you an opportunity to make them happy—or at least happier. If 80%
Customer Engagement Objectives You Should Keep in Mind
When consumers decide which brand of product to purchase, they pick the one they have the strongest relationship with. As such, it’s critical that customer success teams emphasize the use of regular customer engagements to keep the customer relationship strong.
Customer Success and Upsells: How to Make the Most of Opportunities
When your goal is to grow your customer’s business, upselling becomes a means, not an end. That’s the advantage of working within a customer-centric environment. Your success depends on your customer’s success, so expansion becomes a necessity for both parties.
The Top 4 Causes of Customer Churn and How to Address Them
In the customer-centric economy, retaining current customers is a top priority. Not only are new customers expensive to win over, but loyal customers are more valuable in the long run. They trust your brand and are more likely to spread
The Ultimate Guide to Creating a Customer-Centric Culture
Culture is defined by actions. It is a tangible presence customers can see and feel in the way you engage them, respond to them, and present the product. Creating the right culture within your enterprise is, therefore, a matter of
The Most Important Customer Success KPIs You Should Be Tracking
Customer success initiatives are critical in ensuring your product gives customers the positive outcomes they're looking for. But how can you tell if your customer success team's hard work is paying off? One way is to use key performance indicators
The Top Three Ways to Improve Customer Engagement and Loyalty for Enterprises
Customer loyalty is priceless. If you retain customers, they’ll spend far more than the price of their initial purchase over a lifetime. Plus, current customers are more likely to make major purchases or upsells. But the only way to cultivate
The Top 5 Customer Onboarding Metrics and How to Leverage Them
Onboarding isn’t just about introductions; it’s about acceleration. Customers expect to see value from your product as soon as possible, so customer success teams should focus on accelerating the customer journey in order to deliver returns on the investment. Customer
How to Calculate Your Customer Renewal Rate
Renewal is about a consistent revenue basis. The rate at which your customers extend their relationship with you determines how fast and how far your enterprise can grow. As such, being able to accurately calculate your renewal rate gives you
Grow Customer Relationships: Strategies for Long-Term Success
The new customer-centered economy marks a fundamental change in the business/customer relationship. It’s no longer wise for businesses to focus the majority of their efforts on seeking new customers. After all, recurring revenue business models revolve around customer subscriptions that
How to Increase Product Adoption Rates: Tips for SaaS Enterprises
Congratulations! You’ve won a new customer and helped them learn how to use your product or service. What happens next? In a perfect world, the customer would fully leverage it, then spread the word about your business to their friends
The Complete Guide to Improving Your Customer Success Health Score
An illuminated “check engine” light is scary because it doesn’t offer any solution. There could be any number of reasons why that little beacon has been lit. For many, “check engine” may as well just say “car broken”—and that’s terrifying. The
How to Calculate and Improve Your Customer Retention Rate
Customer retention is the lifeblood of any savvy enterprise. It's the only way to be successful in this customer-centered economy and ensure scalable long-term revenue. To retain customers, companies must make the customer experience better and ensure customers never stop
The Most Important Customer Success Metrics to Track and How to Improve Them
Customer success metrics are used to discover what kind of customer experience you are really delivering. You can position yourself as a customer-centered business and embrace a company-wide ethos of nurturing customer growth, but you still need to know if
How to Map the Customer Journey Stages to Foster Lifetime Value
From the moment a customer buys your product or subscribes to your service, they’ve chosen to take a journey with your brand. It’s a journey that promises recurring value, and it’s your job to make sure that every step of
The Top 5 Customer Escalation Best Practices You Need to Know
Escalations are the horror movie soundtrack of the subscription-based business. Their arrival signifies one thing—impending churn. Scary as they can be, however, customer complaints can actually be beneficial. Today’s customer-centered economy has increased customer expectations and left them only a click
Understanding Customer Success: Growth Driven by the Customer-Centered Economy
In the old days, growing your business was easy. Tell people about your business, get them in the store, sell them things, then look for more customers. But that was before the internet made it possible to deliver highly customized
7 Customer Success Team Goals for Your Enterprise in 2019-2020
Realizing lifetime value from your customers is about generating lifetime value for your customers. That’s the central tenant of the customer success approach to business. It represents a shift away from thinking of customers as point-of-sale pursuits and toward regarding
How to Calculate Adoption Rate and its Impact on Customer Lifetime Value
If your customers aren’t using your product, then they’re not really your customers. They may have subscribed, but if they’re not actively engaging with the product, they’ll never see the value of their investment. And without a clear return in
How to Handle Customer Escalations in the New Customer-Centered Economy
Happy customers are in everyone’s best interests, particularly in today’s customer-centered economy. Because customers are empowered to walk away at a moment’s notice, they have high expectations. They want to be able to communicate with your business through the channels
A Customer Onboarding Checklist for the Digital Era
When a customer buys your product or subscribes to your service, you need to impress them—fast. Customers form opinions based on their first experiences with a product, so if they get a bad first impression, it can be difficult to
The 5 Best Strategies to Win Back Lost Customers for Your Enterprise
Think of them as your customers—even when they’re heading out the door. That’s the ideal approach when a customer lapses. Churn is built into every business model, but just because churn is expected doesn’t mean it has to be accepted. Today’s
5 Best Practices for Effective Customer Escalation Management
Imagine you’re a customer. You’re enjoying a product or service and everything’s fine—until it’s not. Suddenly, your fresh food box was delivered containing spoiled meat, or the videos on your streaming service constantly skip. So, you turn to the service
The User Adoption Metrics That Matter for Your Customer Success Team
Your user adoption metrics create a silent, unending conversation between your enterprise and your customer. They are invaluable in helping you understand the results your customers are getting from your product. And in today’s customer-centered economy, there’s nothing more important
6 Customer Onboarding Strategies Your Success Team Must Implement
It’s a familiar story. You’ve won a great new customer and it seems like it’s time to celebrate. But then they don’t fully adopt your product or service, and they stop buying or unsubscribe. What went wrong? Some companies don’t realize
Totango Welcomes Seasoned Industry Leaders to Executive Team
Last year, we experienced record business growth—we more than doubled our revenue and customer base, tripled our engineering and support staff, introduced Totango Spark, a next generation flagship customer success solution, and announced a go-to-market partnership with SAP among many
Successful Winback Campaign Examples for Your Customer Success Team
In today’s digitally transformed business world, customers are empowered to shift their subscription loyalties at short notice and without repercussion. As such, there’s seemingly no greater crisis than a lapsed customer. But, as John F. Kennedy once noted, within each
5 SaaS Renewal Process Best Practices for Customer Retention
You should adopt a “time invested equals benefits gained” approach with your SaaS renewal best practices. With a focus on lifetime customer success rather than on quick revenue raising, you can turn your renewal process into a celebration of an
Reducing Churn: ROI-Focused SaaS Strategies for Customer Success
Fear of customer churn can make you feel you’re standing above a trap door, like the floor could fall away at any moment. But you’re not a passive victim. We believe in data-driven, proactive customer success that lets you take control