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How Customer Success Can Impact Your Company's Earnings

Betting on customer success and satisfaction is essential for business growth. Retaining a customer can be 25% cheaper than acquiring a new one. Engaged customers can become brand ambassadors.

What Is Customer Success

Customer Success (CS), or customer success, is considered vital for a company's survival in the market. This term refers to the purpose of making the customer's experience as satisfying as possible. From the first contact to the post-sales, to, consequently, keep the customer in your base and engage them.

In large businesses, the customer is the focus from product design to after-sales. However, there are still companies ​​thinking about consumers only at the time of sale.

Why Is Customer Success Important In Your Business

According to research, conquering a new consumer can be up to 25 times more expensive than retaining an existing one. The Harvard Business School study indicated: by increasing the retention rate by 5%, you can generate profits between 25% and 95%.

“How do you live in a world where you don't hold your customers and sell more to them? How can you be competitive? It's hard to imagine”, reflects the specialist in growth, marketing, and sales at Speedio, Maucir Nascimento. “Your competitor, the startup next door, is all doing customer success,” he added.

Companies that put themselves in the customers' shoes tend to grow more quickly. A good relationship with customers makes them speak well about the company and refer others. If they are well engaged, they even defend the brand on social media and friends' circles.

Customer success should not be confused with support. According to the specialist, while support is reactive — in which the customer calls or sends an e-mail on a particular subject — the CS “goes to get the problem.”

"He wants to talk to people and be close, in addition to increasing the possibility of doing something for him — and that makes all the difference!” he adds.

Everyday Examples

At Speedio, for example, support is proactive. You have to contact the customer to check if everything is ok. A team is also responsible for “measuring the temperature” of consumer satisfaction — through calls and surveys — every three months with the customer base. In other words: no waiting for customers to respond to the NPS.

The customer's happiness and the company's dedication to answering questions are also essential in this process. “Offering the customer all free training support to the customer and allowing him to do it as many times as necessary are practices that we adopt.

In addition to the ease of contacting the CS team through multi-channels. Even for those who are still in the trial period. The customer needs to be sure when hiring a service or purchasing a product”, says Bruno Roney, partner, and Head of Customer Success at the company.

Tips For Putting Into Practice

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