Did you know that the difference between ordinary and extraordinary companies is 70% MRR? Ordinary companies have around 60% MRR retention while extraordinary companies have 130% MRR retention rate. That is a massive difference which can either lead to stagnant growth or exponential growth of the company. I bet you …
Category: Customer Success
If you own, manage or work for a Software as-a-Service (SaaS) business, you are embroiled in quite a heated competition on a daily basis. A number of subtleties have the potential to make a difference in your company’s bottom line. In particular, customer success matters a great deal. Let’s take …
Customer Success, at its core, helps customers achieve their goals by maximising the value from a product. Thus, increasing the retention rate, and creating potential opportunity for upsells / cross-sells too. It doesn’t matter how many customers you are signing up every month! What matters is that of the customers …
Customer Success is a new phenomenon and so, several companies club it with customer support. They feel that customer success is an extension to customer support. That is NOT true. All the functions post sales have gained importance in the subscription economy as now the power is in the hands …
We hear a lot in Customer Success about Voice of the Customer (VOC) but Debbi Stanley, CFRE, Vice-President of Sales & Customer Success, Rallybound feels there is a more important term – VOD or Valley of Death. So what is the Valley of Death (VOD)? Assume your sales has just …
The secret of successful managing is to keep the five guys who hate you away from the four guys who haven’t made up their minds. — Casey Stengel What is Customer Success? Is it maximization of value to the customer right from onboarding to the stage where the customer becomes a product …
Every SaaS company knows how important Customer Success is and what results it can bring if implemented properly. However, since it is a comparatively new field, there are many different ideas, thoughts on how one should be building a customer success team so that it can have a big impact on …
Getting the budget approved for customer success No one makes business decisions worth thousands of dollars without a foolproof business case. And setting up customer success is a decision worth more than that. However, the business case for customer success is mostly straightforward. Especially, if we use the existing churn …
With changing times, new business models have evolved. All around us, organizations are witnessing a conscious shift from an upfront capital expenditure model to a more rationalized ‘pay – as you go’ model. In the Information Technology space, this has sprung to life via new software delivery mechanisms. The most …
There are 3 types customer churn that every SaaS business should measure. Account Churn User Churn Revenue Churn It is important that we understand each one of them, else we are likely to be blinded by half data. Account Churn Account churn is where you see accounts canceling SaaS a product. If you are …