Why Customer Success Management Is Important to Expand Your Business
Introduction – Customer Success Management
Customer success management is a relatively new phenomenon. Before the 1990s, the idea itself was unheard of, at least in its current definition. It is the strategy of maximizing customer value; it’s the understanding that a customer’s purchase is only one of the elements in the relationship between them and your brand, and this relationship should be maintained and cultivated. Instead of viewing customers as a source of sales, the mission of customer success is to consult with your customers and help them find value in your brand. But how does a small business implement customer success management, and why is it important?
The Value of Good Customer Service
In the digital era, customer success management is growing more and more relevant. According to a Linkedin survey, a customer success manager is the sixth most promising job and the second most promising sales job. Businesses are quickly learning the importance of managing customer success since a customer’s experience with their brand can have lasting benefits or consequences.
If a customer has a bad experience with your company, whether it be because of the product itself or their purchasing experience, they can post a negative review of your company online. The Internet gives them a far wider audience than they normally would, and since 88% of customers have been influenced to buy or not buy a product from online reviews, it’s important that every customer has a positive experience with your brand. Since a small business would have fewer reviews than a larger corporation, one particularly bad review would cause far more damage to your brand, meaning that it’s arguably more important for small businesses to invest in customer management.
Regarding the benefits of positive customer experiences, 42% of B2C customers purchased more from a company following a positive service experience. For B2C business, that figure was 62%. The memories of positive service experiences can last for years with 24% of customers continuing to seek out vendors with whom they had a positive experience two years prior. Thus, good customer success management has the power to win your business loyal customers, and these customers are often the backbone of small businesses. The long term benefits of having a good customer success strategy, as well as the downfalls of having a poor strategy or no strategy at all, make it essential for small businesses to invest in customer success.
How does a small business go about implementing a customer success strategy? At the highest level, the best way to begin focusing on customer success is to take a look within your own organization and its culture. A culture obsessed with increasing sales is not one that will encourage employees to foster genuine relationships with their customers.
You have to ensure that you not only care about the customer experience but that you promote a positive work environment for your employees. Happy employees who are passionate about their work are more likely to be proactive in helping customers and promoting your brand. When they engage with customers, their excitement for your company and its mission will be more authentic, and your customers will notice it.
The Mission of Customer Success Management
When developing an external customer success strategy, it’s important to think about the whole sequence of events that lead up to a purchase as well as the following steps. In fact, that’s the whole point of customer success: valuing the complete customer experience over the individual purchases.
From the beginning of a customer’s interactions with your brand, the customer experience should shape your decisions about how you want to position your company. You must make a conscious effort to not only market to new customers but to existing customers as well, constantly reminding your audience that they are at the heart of your company’s mission.
The Purchase Period: Before, During, and After
The next phase in managing customer success is in the purchase period. Purchasing your product should be easy. This point is so important that 74% of customers might switch brands if they found the purchasing process too complicated. Beyond the purchase itself, the steps leading up to and following the purchase should be easy. Any business, small or large, should respond quickly to customer questions and complaints, aid them through the purchasing process, and offer authentic advice.
Once a purchase is complete, a company might feel like its duty to help its customer is complete. That couldn’t be further from the truth. Repeat customers are the most important to your business, so much so that your company has a 60-70% chance of getting business from a former customer compared to a 5-20% of acquiring business from a new customer. Additionally, it is 5 to 25 times more expensive to acquire a new customer. Ensuring that your former customers not only receive additional promotions but follow-up support is essential for your small business.
Our Commitment to Customer Success
Because customer success is so integral to the modern business strategy, customer service is at the heart of our business model here at Stiddle. Our mission is to simplify digital marketing while making it accessible and affordable for all businesses. We want to help you and your small business navigate social media marketing so that your content perfectly represents your brand and targets the right audience. We value transparency, and as such, we assign each ad an effectiveness ranking so we can allocate your budget to the ads that work the best.
Our live customer support team will help answer all of your questions, and we are only one phone call or message away. Because of our dedication to the customer experience, we guarantee that if you don’t see results from the ad campaign we create for your business, we will extend your 7-day free trial period, no questions asked.
Customer success management is one of the most important strategies for a small business to develop. The benefits and consequences of the right or wrong customer success strategy alone make it essential for you to begin working on the right strategy. The whole process from consideration to purchase to follow-through are integral to the customer experience, and you should ensure that each step is easy and enjoyable for your customers. To begin the process, create a positive environment within your small business and extend that culture to your customers. Bringing this level of authenticity and positivity to your brand will help you win at the strategy of customer success.
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