Fast Track Your Customer Success
As a Customer Success Manager, receive real time WatchMyCompetitor (WMC) alerts on your portfolio of clients and get the right insights to succeed. Stay ahead of the curve with your clients and ensure they are striving for success.
What Is Customer Success
Customer success is the process of increasing customers' satisfaction while using a service and helping them achieve their objectives. It’s a specialised form of customer relationship management.
It's important because it helps build and maintain customer relationships. It’s an important function to reduce client churn and identify new opportunities. When clients do achieve success in a satisfactory manner, an organisation can benefit from an improved client retention rate, more potential customers, and an increase in revenue.
Customer Success Metrics
Customer success metrics that are applicable to most organisations include client churn rate, monthly recurring revenue (MMR) and customer lifetime value (CLV).
Why These Metrics Matter
By acquiring intelligence of leadership changes, acquisitions, company news and investor updates, customer success managers can better grasp clients’ needs and objectives. Therefore, improving the above metrics.
Tracking Your Customer Success With WMC
Reduce Client Churn
With the latest data from WMC, customer success managers can ensure their propositions during renewal phase remain competitive.
Identify New Opportunities
WMC’s platform helps identify wider-industry trends, enabling you to identify and propose new opportunities for existing clients.
Build Stronger Relationships
By acquiring the latest intelligence of clients, you can improve lifetime value by being able to adapt to changing needs of existing clients.
Have automated intel delivered to your teams directly into their workflows.
Integrates with your workplace tools.
Customer Success FAQs
Customer success teams are all about the end result of the journey. They strive to help customers reach their goals with the company’s product or service and to build a strong, long-term relationship.
Customer experience on the other hand focuses on improving individual touch points across the entire customer journey. They evaluate where there may be issues in the buyer’s journey and how to make every interaction the best it can be.
Customer success is important because it plays an important function in building strong customer relationships. It’s an important function to reduce client churn and identify new opportunities.
When clients do achieve success in a satisfactory manner, an organisation can benefit from improved client retention rate, more potential customers due to word-of-mouth, and an increase in revenue.
As mentioned, client churn rate, monthly recurring revenue (MMR) and customer lifetime value are customer success metrics that are applicable to the overwhelming majority of businesses. Depending on individual business and department’s circumstances, other metrics can include net-dollar retention and net promote score (NPS). A comprehensive list can be found here: (link)
Want to Know More About Customer Success Monitoring?
Book a free demo to find out more about WatchMyCompetitor and how it can benefit your customer success monitoring.