Every plan includes standard ongoing support to help you ensure success along your way. Transparent pricing to help you choose the best one for your team.
Typically , the cost of a customer success platform ranges from anything between tens of thousands of dollars depending upon
No of users
No of accounts
No of CSM seats
What strategies you want to deploy
Customer Success platforms costing anything below this is not a CS platform but a glorified CRM. Cannot do the complete job of what CS platform is meant to do.
The Customer Success platforms are expensive because it processes large amount of data in real time. Most CS platform requires dev ops efforts, high power of computing and infrastructure to give you the real time insights. For example- Platforms like CustomerSuccessBox, billions of events are logged, 250,000+ Accounts and 1 million+ Users monitored Daily
In B2B SaaS you spent anywhere between 1 – 3X times the Annual contract value (ACV) as your Cost of Acquiring the Customer (CAC). So on the day of acquisition, in terms of unit economics you incur a loss. However, you do this as you intend to retain and grow the recurring revenue from these customers for many years to come, Retention is baked right into the foundation of the SaaS business model. Customer Success platforms help you do this. It helps you reduce churn and improve your Net Dollar Retention. Even if you're able to stop 5% of your customers from churning your ROI can improve tremendously. Well deployed platform can help you unlock LTV $$ proactively, thereby improving the valuation of company by many folds.
Before you decide on the budget, you should have clarity on the customer success goals you want to achieve- increasing revenue, reducing time to value, reducing churn or scaling your CS efforts.
The second step should be determining your source of funds-
1) Take it from sales and marketing- Your Customer Success org supports renewals, upsells, promoting new features, industry events , customer advocacy. It helps in many of the marketing initiatives and therefore should be given equal importance as Marketing and Sales and the budget allocated should be pulled from it.
2)Pull it from COGS- since your CS org is responsible for onboarding, renewals, identifying opportunities for upsells , the cost incurred becomes part of COGS and hence should be pulled from Sales
3) Hybrid approach- As your CS team grows, there is more cohesiveness between many teams like Customer Success and product team. You need a unique budget based on the charter of responsibilities handled by the departments and allocate accordingly
Customer Expansion Cost- As per industry standards, 15-20% of your marketing cost can be attributed to this
Customer Retention Cost- As per Industry norms, atleast 20% of your sales and marketing cost should be allocated to this.
The cost of Customer Success platform will largely depend upon the strategies that you want to deploy to drive your Customer Success efforts.
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