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Mastering Customer Success
Mastering Customer Success

Mastering Customer Success: Discover tactics to decrease churn and expand revenue

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Mastering Customer Success

Optimizing Your Key Metrics for Growth

There’s an ongoing challenge in the world of business and it’s to do with measurement. Everyone says they’re doing it, but the application of the word to ascertain whether desired outcomes are achieved is so inconsistent, the reporting of it so varied, and the opaqueness of processes that are involved in it are so great that it’s a wonder that there is so much unquestioning fervor over it.

Measurement of progress, of course, is critical in the world of business. But even when presented with measured results, curious minds will usually go quickly to questions about the processes and the data underpinning the measurement. If the measurement of the result is unclear or completely missing, the credibility of the results themselves will be called into question. This is because the capital that drives business expects to see a return on investment and the kind of results that can be measurably supported before the information...

Understanding the S.M.A.R.T. approach to metrics goals

While every company, small and large, everywhere in the world, operates and supports its business on a set of processes, the processes themselves are the product of something else. What do I mean by this? The processes are the product of projects, which are – essentially – timelines of the required human effort and of the specific milestones that are expected to be achieved. The concept of a project is the best representation within the world of business of what it means for an individual to carry out work and contribute to the advancement of a company’s strategy. A project is different than a process, which is simply a mechanical repetition of something to produce the same result each time. Projects, on the other hand, are reliant on humans and are therefore more variable in terms of execution. Because of their vulnerability to ever-changing conditions and expectations, they occasionally need to be modified...

Aligning CS with business goals

In theory, all projects that are conducted within a business should align with the overarching business strategy. Alignment is how a company ensures that the work being performed by employees is in service to the strategy. And while it might seem abstract to employees, good leaders will be able to describe to their teams how everything they do supports the corporate strategy. It was way back in 1997 that the late, great Clayton Christensen, a Harvard Business School professor, talked about corporate strategy (https://hbr.org/1997/11/making-strategy-learning-by-doing):

The strategy must mirror the realities of the company’s environment, and the resource allocation process must mirror the strategy.

Getting that mirroring right is a tricky thing. Companies that find themselves out of alignment with this mirroring can very quickly stumble and lose customers and even succumb to competitive threats because they might be perceived as being inconsistent...

Individual versus team goals in CS metrics

For a strategy to be effectively and completely carried out, there must be understanding and an acknowledgment that different components of an organization require different types of motivation. Teams of people should be motivated to nurture the sense that the outcomes will be more powerful through a combination of the energy of individuals. The individual people that comprise the teams should be motivated differently as a way to objectively observe, coach, and measure the performance of each person.

One of the goals of leadership is to strike a balance between encouraging and nurturing the basic human desire to achieve success and the truth that ultimate success for the company comes mainly through combining and channeling the energy of many highly performing people toward the achievement of group goals. In other words, the strength of many is greater than the simple sum of individual parts. If the two types of motivation support the same...

Customer engagement metrics

Since the mission of CS is to help customers achieve their desired business outcomes through the vendor’s products and services, it’s logical that the most important metrics it should focus on are those that show how well the organization is performing in pursuit of that mission. What underpins that mission is effective customer engagement by the CS organization and there are ways to measure the breadth and depth of that expression.

To do that, we will take the discussion about team and individual goals and dig into the details of how those complementary categories play out in a typical CS organization.

But first, it’s important to know that there are two types of metrics: quantitative and qualitative. Second, it should not come as a surprise to hear us say that it would be nearly impossible to monitor these metrics without the assistance of a tool. Whether it’s a dashboard in Microsoft Excel or a dashboard in one of the...

Customer lifetime value

We listed customer lifetime value or CLTV as an item in the Quantitative metrics – where evidence emerges section, but we feel it deserves a separate discussion because of what it should represent to forward-leaning companies. Because subscription businesses are completely reliant on recurring revenue – since profits aren’t realized until customers renew their subscriptions at least once – within companies, there should be an intense focus on understanding and executing strategies to ensure all customers stay through many renewal cycles. It’s revenue growth that is rewarded by investors and what drives up a company’s valuation in the market.

So, CLTV should be considered as more than a metric like any other that the CS organization tracks. Because of its nature as a long-term information source, it could even be seen as a proxy for the state of health of the company, a company that is attractive to investors because...

Summary

At this point, you should have an appreciation for the importance of two things. First, you should understand how important it is to track a number of key quantitative and qualitative metrics, which together should form a comprehensive view of customer engagement from a CS point of view. Second, you should understand how critical it is to your company’s business and to its customers that effort be made to continually optimize these key metrics your CS organization focuses on. In the world of CS, there should be no room for set it and forget it when it comes to metrics. The world beyond CS doesn’t even work that way. To build a reporting system and imagine it doesn’t require ongoing maintenance is to be willfully blind to the reality that your company’s business continues to change and adapt to the customer community – it changes because it reacts to and anticipates shifts in the market, as well as due to shifts in strategy that are determined...

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Key benefits

  • Master the art of driving measurable customer value, a cornerstone of business success
  • Explore techniques to ensure your work is relevant, stimulating, and aligns with the evolving needs of your customers and business
  • Ratchet up your understanding of building and operating dynamic and resilient CS organizations
  • Purchase of the print or Kindle book includes a free PDF eBook

Description

The rapidly evolving customer success landscape has left many Customer Success Managers (CSMs) struggling to keep pace with the complexities of this dynamic role. This Customer Success book bridges the gap by providing a comprehensive framework for mastering the essential skills required to excel. You’ll find out why the Customer Success function is indispensable today and gain expert insights into account segmentation, financial tiering, ideal customer profiles, and the complexity of customer engagement process design. You’ll then delve into playbook development, where you’ll find practical guidance for CSMs and Customer Success Operations Managers who want to improve their ability to drive desired business outcomes. Through insightful case studies, the authors illustrate their own experience of successful Customer Success implementation, showing you what it takes to exceed customer expectations with well-designed, proactive services. The journey doesn’t end there—it extends to highlighting the resilience required to build and operate successful Customer Success organizations. By the end of this guide, you’ll be equipped with the tactics and mindset necessary to stand out as a world-class Customer Success leader in your organization, driving growth at every turn.

Who is this book for?

This book is for aspiring and established Customer Success professionals who want to learn how to develop and refine service delivery in customer engagements. Professionals embarking on a journey to excellence will be able to master the evolving business landscape of Customer Success and foster relationships with other internal organizations and external partners. A foundational understanding of business basics, typical B2B structures, and Customer Success concepts is necessary to get started. Intermediate to advanced customer engagement skills from customer-facing roles will prove useful.

What you will learn

  • Drive higher customer retention and expansion rates with a customer-centric strategy
  • Understand the essential role of measurement in achieving service delivery excellence
  • Recognize the importance of the human dimension in vendor-customer relationships in the age of AI
  • Refine engagement models by incorporating observations of customer behavior
  • Discover techniques for creating ideal customer profiles
  • Leverage technology to boost business relevance of CSMs
  • Identify how to drive successful customer outcomes through collaboration
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Publication date : May 31, 2024
Length: 170 pages
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Language : English
ISBN-13 : 9781835469033
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Table of Contents

15 Chapters
Part 1: Foundational Concepts for Business Success Chevron down icon Chevron up icon
Chapter 1: Optimizing Your Key Metrics for Growth Chevron down icon Chevron up icon
Chapter 2: Building a Strong Foundation – Key Knowledge for Success Chevron down icon Chevron up icon
Chapter 3: Strategies for Effective Book of Business Management Chevron down icon Chevron up icon
Part 2: Optimizing Customer-Centric Strategies Chevron down icon Chevron up icon
Chapter 4: Streamlining Onboarding and Boosting Engagement Chevron down icon Chevron up icon
Chapter 5: Building Referenceable Customers Chevron down icon Chevron up icon
Chapter 6: Leveraging Data for Customer Success Chevron down icon Chevron up icon
Chapter 7: Building Your Customer Success Inner Circle Chevron down icon Chevron up icon
Part 3: Navigating the Customer Success Landscape Chevron down icon Chevron up icon
Chapter 8: Strategies for Retention and Expansion in Your Business Chevron down icon Chevron up icon
Chapter 9: Mastering Crisis Management for Business Resilience Chevron down icon Chevron up icon
Chapter 10: The Exciting Future of Customer Success Chevron down icon Chevron up icon
Index Chevron down icon Chevron up icon
Other Books You May Enjoy Chevron down icon Chevron up icon

Customer reviews

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ACravens Jul 16, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
The perfect CS book doesn’t exi….. wait…It does now. Authors Jeff Mar and Peter Armaly have struck the perfect balance between the art and science of Customer Success.I highly recommend this book to be used as a manual for all experience levels of Customer Success and anyone in the Success-sphere. This book contains many years of wisdom from two industry experts presented in a relatable and compelling manner. Perfect level of detail for those just getting started AND those who are more experienced.If you’re looking for easy to digest, real-world expertise woven into a beautiful blueprint for success, this is the book you need!
Amazon Verified review Amazon
Shazia Bhura Jun 11, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
This book offers valuable insights into customer service, laying a solid foundation for success. Any Customer Success Manager (CSM) would benefit greatly from reading it and applying the key takeaways to their work. Each chapter provides information that helps individuals learn and grow. I appreciated how the book emphasized the importance of relationship building and finding advocates who champion the product. Often, people overlook the success that can come from building relationships or having someone in their corner creating engagement around the product. This greatly aids in success and strengthens the relationship between the CSM and the organization. I particularly enjoyed how the book prepares CSMs for success by encouraging a proactive mindset and designing a solid strategy.For both new and seasoned CSMs, this book will either teach you how to be successful or remind you of important practices you may have forgotten. Overall, it's an excellent crash course and a valuable resource for anyone in the customer experience (CX) field!
Amazon Verified review Amazon
Sandra Jun 15, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
This is a very interesting and well-written book for CSMs of all levels, and even for those who are not very seasoned in the topic, but want to get a solid introduction into the world of customer success management. The book provides some very detailed and concrete examples to solidify the concepts being presented in each chapter. I especially found the chapter regarding "Soft skills of exceptional CSMs" to be very insightful, for those who are looking to be a successful CSM.While this is not exactly my area of expertise, I still thoroughly enjoyed reading this book, and was able to gain some valuable insights into the world of customer success management. A great book for those who, like myself, aren't too versed in the topic, but want to learn more without getting too overwhelmed.
Amazon Verified review Amazon
Joan T Blake Jun 16, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
The book is well-written and thoughtfully laid out with an easy-to-follow table of contents that allows readers to target topics most relevant to them.I was glad to see the book treat both the quantitative and qualitative aspects of measuring success.The explanation of success manager skills in chapter 2 will be especially helpful to those considering a career in customer success. The chapter does a good job pointing out the need for a CSM to possess both empathy and analytical thinking.I would like more emphasis placed on the role varying by organization and product. For example, the topic of being reactive didn’t mention that reaction depends greatly on whether the organization has customer resources like a help desk.The chapter on boosting engagement sparked some ideas that I think will work well with the current product and clients I support. Yes, even experienced CSMs will find value in the book.In summary, Mastering Customer Success provides lessons for the neophyte and the experienced CSM. For those entering a role, it would be a perfect primer.
Amazon Verified review Amazon
L.W. Jul 22, 2024
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As someone who's been in the CS world for over a decade, I picked this book up to round out my knowledge, understand the current state of Customer Success, and see where things are going. I’m happy to say I was not let down.There’s something here for new CSMs and experienced CS leaders alike. The writing is highly approachable, uses relevant personal insights to demonstrate its points, and thoroughly explores each facet of pretty much every CS-related topic you can think of.You can tell that the authors have lived the CS experience from the ground up. As a former CSM myself, I found myself nodding along to anecdotes about the challenges of getting client stakeholders to attend Quarterly Business Reviews or chuckling at a story about Sales taking over a CS-led customer call. Been there.Beyond the soft skills and daily tactical activities that entail the CSM role, the book covers a broad range of strategic topics: analyzing and utilizing customer data within CRM tools to better understand client health, building internal and external relationships with the right people in the right departments, best practices for driving engagement across multiple channels, the value of personalization, managing retention risks, and much more.Overall, the title is accurate. If you’re looking to master Customer Success, this book is for you.
Amazon Verified review Amazon
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