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 a look at the purpose of customer success for SaaS businesses.
An explanation of Customer Success and why it matters
Customer success has been around since the beginning of business. However, this concept has not always been referred to with its current moniker. Customer success is best defined as the identification of problems and opportunities to leverage myriad insights about customers. Ideally, customer success will leverage your SaaS business strategy, help your company truly comprehend the customer experience and ultimately improve that experience to ramp up business.
In other words, customer success is guaranteeing that your service or products improves the ecosystem generated by customers and the outcomes resulting from product/service purchases result in tangible successes. A focus on customer success ultimately ensures customers attain their desired goals by way of your company’s services without significant impediment or delay.
The Value of Collecting and Sharing Customer Success Stories
When it comes to marketing, part of the challenge is coming up with a message that makes a lasting impact with desired customers. Ideally, your SaaS business will be successful to the point that customers who have benefited from your services serve as brand advocates. Encourage happy customers to provide you with their stories. Once you have these success stories in-hand, share them and others will be inclined to pay for your services. These success stories will reinforce the business of those currently in the fold and prove quite appealing to prospects looking for a service provider.
Furthermore, showing off these customer success stories makes it clear your business is fully in tune with the manner in which clients use your services to solve meaningful problems.
Assign a Market Resource for Customer Success
SaaS businesses far and wide are now assigning market resources specifically to attain the goal of customer success. The purpose of the marketing resource is to guarantee the company’s touchpoints are geared around experiences and communications that provide real value throughout the customer experience. As an example, a product communication plan, a post-sales plan for communication, customer meet-ups, success story promotion and customer surveys all play their respective roles in facilitating customer success.
Create Events/Get-togethers with Customers in Mind
The cream of the SaaS crop generate event platforms for prospects as well as customers to allow for mutually beneficial interactions. Such events form an environment in which it is easy to share advice, practices and more. When properly prepared, events and get-togethers hike the enthusiasm and energy around a brand as well as its value.
Your SaaS business should not hesitate to spend the time necessary to create an event schedule that addresses client needs and opportunities for growth. As long as these events are squarely focused on value and content rather than sales efforts, they should prove successful. Don’t fret about sales in the short-term; they will be the natural offshoot of a strategic event schedule. Be patient and your get-togethers really will help your SaaS company reach new heights.
Take your SaaS Business to the Next Level through Customer Success
The message is clear: it is time for SaaS businesses to go beyond pricing strategies and product capabilities to meet their potential. Focus on providing additional value to your customers and on customer success will follow. Give the customer success strategy a try and it will not be long until your sales spike, your churn rate reduces which leads to an increase in bottomline of your SaaS business.
Now that you know the exact purpose of Customer Success and how to execute it, it is time to play the long term game of profitability.
Marla DiCarlo is an accomplished business consultant with more than 28 years of professional accounting experience. As co-owner and CEO of Raincatcher, she helps business owners learn how to sell a business so they can get paid the maximum value for their company.