I recently gave the below talk at a CEO conference on Sales and Marketing on Customer Success. My goal was to convince them that Customer Success, when done correctly, can be a major driver of growth. It was very well-received (I was pretty much mobbed afterward 🙂 ).
I made points including:
1. The fastest-growing subscription businesses have renewal rates far greater than 100%. So they can grow multi-dimensionally (through new clients and through additional spend from existing clients).
2. Conversely, churn can be a major detractor to growth. Hidden churn (e.g., discounts upon renewal) is a subtle example of this.
3. Finally, the savviest vendors are using their Customer Success strategies in their sales process – by talking about how they don’t just sell technology – how they are setup to make sure customers get value.
What do you think? Can we convince the broader business community that Customer Success is a key ingredient to growth?