Scaling revenue doesn’t end with the sales department.
What about your revenue retention, revenue expansion, renewals, and all facets of your customer experience?
As a CEO, your focus should be equal parts earning new business and delighting your existing customers. Too often, customers leave products, services, and brands they once loved because they’re no longer being nurtured, cared for, and made to feel valued as they were when the company was fighting to win their business.
Scaling revenue requires you to focus on all facets of your business. Have you heard the saying, “Everyone is in sales?” The best revenue scaling strategies heavily rely on an undeniably powerful customer experience to create brand ambassadors, referrals, and demand. Not to mention, delighted customers purchase from you more often and refer their friends to your brand.
First, let’s align on definitions important to customer success.
Customer experience (CX) refers to the feelings, emotions, and opinions of your customer throughout their relationship with you, from the very first touchpoint with marketing, through the sales process, new customer implementation, and ongoing customer support.
The customer experience can further expand into how well they use your product or service (user adoption) and how your product or service improves their life; specifically, how it solves their problems and allows them to achieve outcomes they couldn’t previously achieve without you. Delighted customers become brand ambassadors and will often want to refer their trusted relationships within their network to your company.
Customer success is the relationship between your customer and a representative from your company who is dedicated to ensuring your customer achieves desired outcomes from using your product or service. Your customer success team’s performance should be measured by revenue retention, customer user adoption, product-suite penetration, revenue expansion, and customer renewal.
Some customer success teams have roles such as customer success manager or account manager but do not typically include customer service or tech support.
Customer service and tech support, although vital to the success of the overall customer experience, are not typically held to performance goals for retaining customers or expanding revenue. They exist to support the customer-success and the account-management team with customer concerns, issues, tech support, and other product or service issues that may arise.
They act in an operational role and support the customer’s needs at a granular level, to ensure their ability to use the product or service to its fullest potential. These team members are often measured by NPS scores, ticket time to resolution, and other quantifiable service metrics such as exchanges, refunds, and return of merchandise.
So where do you stand? How does your customer experience stack up?
You can evaluate your customer experience by observing and shadowing your team members. Listen to their recorded conversations. Attend team and individual meetings with their manager to hear how they’re being managed, coached, and developed in their role.
You should also call and interview your customers. They want to hear from you. They want to know they matter. Ask them questions and learn how your brand, company, product, and service have made their life better. Allow your marketing team to capture testimonials and potentially convert a customer story into a compelling case study that will help your business development efforts.
After your audit, identify your gaps, and make a plan.
If you don’t have time or are worried about not knowing the right process, ask the House of Revenue™ team to help.
We can audit all facets of your customer experience, including the roles, responsibilities, and current performance metrics of the customer success, account management, customer service, and operational support teams.
Our gap analysis identifies your top key areas of focus that will:
Fun fact: most House of Revenue™ clients had millions of dollars of revenue waiting to be sold in their existing customer base. One of our quickest paths to your ROI is developing strategic account plans for each client that lead to a significant increase in profitable revenue.