Elevating customer success in SaaS business can prove to provide high margins. In fact so high that it turned the $100 million companies into $1 billion companies. According to a recent survey it was shown that companies which went from being million dollars to billion dollars became good at something which they weren’t initially. It also means that they either built new channel or capability which led to this enormous success.
ARR growth is the most underestimated area of growth for the companies and many companies are growing it less than 10 percent per year. Not only this but companies which are driving the ARR 10%+ per year are not even touching half of their customers and this scenario in particular is true for the big companies.
These numbers sure are incredible and the steep growth or decline in ARR which many SaaS businesses experience is heavily attributed to the focus on customer value and customer success. Though customer success is relatively a new concept and with more importance being placed on this in SaaS companies the executives are making sure that this new phenomenon is a part of their culture across the entire company. This article in particular will share three important ways in which your SaaS company can elevate this relatively yet powerful concept if customer success.
Creating culture of customer success
All over SaaS starup CEO’s are being lectured about the customer success and only listening to it is not going to make any difference, it is their responsibility to take actions in order to make it a part of their core business value and as one of the pillar of success. This is their responsibility to demonstrate what it means to make customer success a priority.
For SaaS companies, it simply means that every department and every role in involved has a partor personal stake in customer success. They should feel the feeling ownership.
For marketing, they should capture the success stories from the customers and must include in their marketing campaign. Encourage them to make videos and do interviews with the customers. For product team, allow them to communicate with the customer so that they can know what the customer loved most about the product. And so on, spread the responsibilities across the entire organization.
Customer education opportunities
Many SaasS companies focus on content marketing. While content marketing can be extremely valuable to both current and prospective client make sure that your company is providing resources more than the content marketing such as: training seminars, certification classes, workbooks etc.
The options for providing education opportunities are infinite and must be updated by the company from time to time. Such resources help the customer to become more familiar and comfortable with the company’s product and customers will began to see you company as a trusted partner.
Input from the customers
If customer success is really about customers then it is needless to say your company must put as many ways as it can to listen to the customers in order to get their feedback. The success is not alone listening about the positive feedbacks from the customer but it is equally important to get the feedback from the customers who haven’t had the best experience and are struggling with the products. Create a customer matrix to get the idea of customer population so that you can determine the best way to gather inputs from all these customers using your entire company. Also, listening alone is not sufficient make sure that company is also acting on these feedbacks.