In the midwest, the month of May typically brings a mix of sunshine and lingering “April showers,” resulting in a mix of spending time outdoors, but also jumping around and dodging puddles. This rain/shine parallels how client success manages customer relationships. When a client first purchases a new product, it’s like taking a hike on a nice sunny day. You start off the hike with expectations already set about what you want it to be like- what you hope to see, how strenuous it is, how well it’s marked, etc. However, all products/services have their limitations, just like all trails have their patches of mud, puddles, or unexpected detours. Managing the customer relationship involves providing the resources so clients have a positive experience throughout their journey (or hike) with your brand and come out on top.
Client success management is about customer development, retention and expansion to allow everyone on the trail to be successful. It’s about actively managing customer relationships to increase engagement while making sure the customer is taking full advantage of the company’s services. A client success manager must build strong relationships with their clients and become their trusted adviser. This will build customer loyalty. Client success managers must set the following goals for these customer relationships:
- Reduce Churn (losing customers)
- Increase Revenue
- Influence New Sales
Having a good client engagement strategy is vital in marketing- especially B2B marketing. In recent years, the strategy and relationship management utilized by B2B marketers to convert business prospects into customers has become a discipline in its own right. B2B marketers are increasingly looking beyond closing new leads and towards increasing the value of customer relationships over time. Businesses are focusing on the role of client success in building customer loyalty, customer advocacy and even referral business. It’s no secret that happy customers refer other customers, and they are your best leads. A great client success department can make a world of difference in maximizing a customer’s lifetime value.
Over the course of their lifetime, a loyal customer is worth far more (and is less expensive) than a new customer. If you need any affirmation of this, check out this post about Forming Lasting Customer Relationships. This is why client success is emerging as such an important part of marketing.
At Right On Interactive, our client success team works with organizations to improve their customer sentiment, renewal rates and upsells. Our team of lifecycle marketing consultants work alongside organizations that are just getting started on their customer lifecycle marketing journey as well as those who are up and running with lead and customer nurturing campaigns designed to move their contacts through their own lifecycle.
To learn more about customer lifecycle marketing, read our ebook, What is Lifecycle Marketing?