CSM and Why It's Important

Author
Elke Farnworth
Date
June 4, 2020
Category

Have you ever reached out to a company and not heard back for days? Or walked away from a business feeling dissatisfied? Have you felt like you didn't get your value for your money? Customer Success Management is put in play to banish these feelings ensuring every client is supported and enjoys their Customer Experience. 

WHY IS IT IMPORTANT?

It is important to provide a system internally to nurture your Clients and ensure the dedicated team reach the desired outcomes feasibly. The customer's experience with your business from start to finish should be positive, informative and beneficial with the overall aim of CSM's to attain success for the client through your products and services.

Customer Success Managers are all-rounders within a business, being a researcher and analyst, consultant, educator, communicator, planner and project manager, to problem solver all in one day. It is a critical component of expanding business and by understanding the value of each client and how you can achieve their desired outcomes with the products and services you offer is super important. 

Your business must understand the client's goals first and how you can help to attain these outcomes. As your client grows and changes, you need to be able to adapt and provide solutions to increase revenue and client retention.

Ultimately, clients purchase a product or service; see value in this high level of customer service, and in turn, continue their life cycle with your business, creating the potential to upsell along the way.

Client Advocacy and Lifetime Value can be key indicators to the success of CSM's. Retaining client's for longer, and organically building positive word of mouth, has incomparable value towards building your business. 

WHAT ARE THE BENEFITS?

First and foremost, a happy client is one that is more likely to engage in additional services and recommend your business to others. This, in turn, boosts revenue which is the primary goal of any business. Knowing your client's have contact or team to communicate their queries, concerns or general questions to can take the pressure off Business Owner's juggling everything. Below is a list of fundamentals for Customer Success Managers or Business Owners to reflect on to see if you could implement this role for your business.

KEY FUNDAMENTALS TO CUSTOMER SUCCESS MANAGEMENT 

  1. Understanding your clients business completely 
  2. Being flexible and adaptable, providing solutions, not problems.
  3. Able to develop and implement full management of plans
  4. High Communication skills 
  5. High Relationship Management skills
  6. Be able to influence and enable work to get done in suitable time frames
  7. Onboard & Off Board Client's efficiently
  8. Optimise the services provided
  9. High Project Management skills

This is something that April Ford lives by and something that you should consider instilling in your business at one level or another. Realising the power of the CSM is a delicate balancing act. Some companies are getting it right, but many are not. By aligning business culture and CSM, incentives, metrics with the objective of customer success, businesses ensure that clients trust in their CSMs. This unlock's more value for their clients, creating a virtuous circle that ensure mutual success. And that people, is the aim of the game.

Bye for now!

Amelia

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