You have two ways to increase your turnover:
1) The acquisition of a new customer.
2) Improving your customer loyalty and retention through a Customer Success strategy.
Customer success is about securing and generating revenue from your current customer’s base. Every company loves and craves predictable revenue and loyalty, and Customer Success can help you achieve the desired results. Customer Success is a catchy, meaningful term because the goal for most companies is really to help make the customer successful.
Remember that Customer Success is simply another way of saying loyalty creation and especially attitudinal loyalty creation. The actual cost of selling to the wrong customer is enormous. It is critical to be sure customers stick around as long as possible because all companies invest significant resources acquiring new ones to generate the largest possible return on their initial investment. The longer your customers stay, the longer the return. If you want to stop your customers from looking at your competitors, you need to make them successful using your product or service.
The value your customer places on your relationship is not defined only by your product’s features and functions; it is also defined by everything else your company does to help make your customers better at what they do. Challenging times are also an excellent opportunity to cement a relationship. The strongest steel is forged by the fires of hell! Any activities performed by your sales team that are not either building the pipeline or moving opportunities through the pipeline are not a good use of the team members’ time.
Why does Customer Success matter so much? It is quite evident as it helps you to reduce/manage churn, drive increased contract/product value for existing customers, and improve the customer experience and satisfaction.