Optimized Customer Experience
Optimized Customer Experience is the next step for your customer success efforts. The customer journey has been front of mind for many teams as of late and much of it has to with the SaaS boom that has taken place over the last decade. the SaaS rush shows no signs of slowing down, in fact, it’s expected that the SaaS market could surpass $220 billion by 2022. However, despite all of this growth, there’s still a big issue that can hurt revenue and even lead to the death of a company, and it’s churn.
low engagement levels, unexpected renewals, technical issues… just a few of the reasons your company is losing customers. These losses are called churn. Churn is the number of accounts that cancel on a monthly basis. It’s been well documented how costly monthly account cancellations can hurt an organization. What many teams are realizing now, is how much of an impact reducing these numbers on revenue, reducing churn as little as 5% can help improve revenue by 50% over 5 years.
With the data clear, organizations have been shifting large amounts of their focus to the development of customer success teams, and the implementation of CSM tools. These data-driven tools, like Freshworks, newly release fresh success help teams optimize their efforts by leverage data from across organizational efforts, automate tasks, and provide insights about potential problems and opportunities as they develop.
Selecting a Tool
By implementing technology like Freshsuccess, your customer success team will be supercharged for optimized customer success through the assistance of automation, proactive alerts, and customer success centric workflows. Having access to customer engagement levels and activity scores will help representatives properly identify which accounts are at risk of churn, and the accounts who are ripe for cross or upsell opportunities.
As the value of optimized customer experience becomes more and more clear, so does the value of using the right tools. Wouldn’t you want your team to know who to reach, when, and for what reasons? The right tool will help you leverage your customer success team as a proactive support force and a big assist in revenue targets.
Want to boost growth totals through your existing accounts and reduce churn? Give us a shout, we’re happy to provide some insights.