The Future of Customer Success: 16 Strategies from Our Paris Event

According to Bain, Businesses that embrace innovative customer success practices are 2.5 times more likely to exceed revenue targets. This only shows how innovation can drive positive business growth and profitability. At our recent Customer Success (CS) Snack breakfast event in Paris, over 60 CS executives shared the latest innovative strategies and tips for navigating the rapidly evolving CS landscape.

We are a testament to the ever-changing landscape of customer success, and with every ounce of change, staying ahead keeps us at the top of our game. Hence, this can only be done through innovation and adaptation. Our Paris CS Community Event became a platform for thought leaders and Customer Success Professionals to exchange groundbreaking ideas and strategies.?

In April, we engaged with CS Professionals from different communities and organisations, such as LinkedIn, Planhat, Cegid, and Asana, and discussed the latest trends in CS. This article is brought to you by our insightful moderators and host – Antoinet van Dalen , Claire Bourrut Lacouture , Regis Ktorza , Pippa Parker , Sally Hamdam , Mick Weijers , and Sally Stoewe .

This morning, we hosted different Customer Success topics, and each participant was allowed to choose their preferred topic over these six dynamic sessions:

1. Scaling CS through digitalisation
2. Retaining revenue in more challenging times
3. Building a customer-centric business (Leadership only)
4. Building ROI for your customer as CSM
5. Strategic/enterprise account management (100k+ ARR)
6. Influencing organisational change as a CSM

Here’s the latest and innovative CS strategies to implement in 2024:

Scaling Customer Success through digitalisation

“Segmentation and Personalisation is Essential.”

While we usually associate digitalisation with speed, efficiency, and the ability to scale, the true potential of digitalisation lies in the power of segmentation and personalisation. Now that consumers are bombarded with information and many choices, being with a business that can deliver tailored experiences sets the bar higher during decision-making.

Companies that excel in personalisation earn 40% more revenue than regular market players. This highlights the significant impact of effective segmentation and personalisation strategies on consumer behaviour and business performance.

Photo by: https://www.techtarget.com/searchcustomerexperience/answer/Personalization-vs-segmentation-Whats-the-difference

Digitalisation empowers automation. Hence, personalisation mobilises customer retention. During this session, we could hear multiple suggestions from our moderators and the participants.?

Here are four actionable tips on incorporating personalisation with digitalisation, which you would want to benchmark.

1. Utilise CSM platforms, data analytics, and AI to segment customers. You can establish health scores and segment your customer base through these platforms. Flagging champions and tracking disengaged customers can be made more accessible.
2. Customise communications accordingly. Tailor your communication and content to match each segment’s needs and preferences. For example, send industry-specific tips and feature updates to different customer segments.
3. Leverage In-depth Product Knowledge. Create and develop playbooks outlining best practices for keeping customers in different segments engaged. Utilise the team’s knowledge to create and organise various content so it resonates with your other segments.?
4. Implement In-App Messaging Based on Segmentation Data. Based on the customer profiles, create different messages, such as welcome messages, onboarding/training for new users, and promotional messages for old customers.?

Retaining revenue in more challenging times

“Create Customer confidence.”

Retaining revenue becomes even more crucial for businesses during challenging times. Given the many factors at stake, customers are likely to be lost. Continuing to offer a service or maintain business dealings hinges on customers’ confidence in their relationship with your company.

Here are three points highlighted on what we can do to retain and build customer confidence:

1. Enhance Value Perception through Demonstration. You can leverage data to showcase the value you want customers to perceive. There are numerous ways to do so, such as sharing positive feedback, conducting case studies, and analysing survey results. One crucial thing to remember is that buyers should know the positive impact of their purchase.?
2. Adapt Value Proposition Metrics. Tailoring the value proposition is necessary to address customers’ pain points and challenges. Changes will cause your Ideal Customer Profile to shift, so it’s better to realign and configure to provide your current customer base with the service they expect.?

Photo by: https://www.b2binternational.com/research/methods/faq/what-is-the-value-proposition-canvas/

1. Foster community engagement and support. Start small. You can only engage a small community after some time, so work in small groups and let each customer feel they belong. This will create more profound and meaningful interactions, leading to higher engagement.

Building ROI for your customer as a Customer Success Manager

“Don’t sell a product, but an outcome!”

It’s time to shift the focus from ROI to ROE or Return on Expectations. Your product or service brings non-financial values, which should be among what customers can and will consider, especially during decision-making. Remember that everyone else is selling a product, but not all competitors will know how to focus on bringing about outcomes.?

Here are the top three ways to ensure you bring the Right Expectations to Customers:

1. Make Value Tangible. Ensure that customers know their desired outcomes and that this is clearly defined and documented from the beginning of the customer relationship. Document progress so customers know there have been changes and improvements from point 0.?
2. Quantify Qualitative Outcomes. Link Qualitative outcomes to metrics. Take this as an example. If upskilling is achieved, employees will be more competitive, increasing project completion rates or the number of new ideas implemented and generated.?
3. Outcome Mapping. One approach that helps customers see the connection between their goals and your product is outcome mapping. You can map each customer’s desired outcome to the functionalities of your product, such as showing real-world examples and case studies. This way, customers can better understand how your product is associated with their capabilities and potential maximisation.?

Strategic/enterprise account management?

Nurturing relationships with key accounts can generate significant revenue streams and growth opportunities. Effectively managing strategic accounts can positively impact a company’s bottom line. According to research by Bain & Company, companies that excel in strategic account management see up to a 20% increase in revenue and a 15% boost in profitability.

Photo by: https://contra.com/p/B2e2X63v-effective-account-management-for-a-b2-b-company ?

During the session, we collected feedback and suggestions from Customer Success Professionals on what factors to prioritise in Strategic Account Management, and here are four essential points to consider implementing:

1. Implement a tiered segmentation approach. Create customised service levels based on customer revenue and the potential revenue they can bring to the business. This ensures that strategic customers receive the appropriate level of attention and resources.?
2. Create dedicated CSMs and Pod Structures. After segmenting customers, assign specific Customer Success Managers (CSMs) to manage strategic accounts. Consider assigning those with expertise and experience to handle complex needs so they can build strong relationships.?
3. Build Multi-Contact Relationships. Engage with multiple contacts to prevent lazy account management. This approach ensures a broader understanding of your customer’s needs and fosters more robust relationships. Let’s take this situation as an example. If you’re managing a strategic account in a retail company, engaging with contacts from marketing, sales, IT, and finance will give you a holistic view of how your product impacts different facets of its operations.

Influencing organisational change as a CSM

“Work on continuity.”

While there are many strategies to consider, one crucial point that is often forgotten is continuity. Continuity should be among an organisation’s top priorities. Working on continuity ensures smooth transitions, consistent efforts, and sustained success.?

When customers feel unsupported during major touchpoints, the value of the product diminishes over time. To enhance customer retention and ensure continuous engagement, inspire change, here are three workable strategies to consider:

1. Establish clear success plans and processes. With comprehensive plans, customers can have milestones and know what to expect, especially during the change process. Standardise processes such as onboarding, engagement, and ongoing management of strategic accounts to maintain consistency and ensure that team members are aligned in this approach.?
2. Implement Cross-functional collaboration and knowledge sharing. Before implementing change, host internal training and development opportunities for CSMs and other team members. Use knowledge Management Systems, such as LMS, to capture and share the best practices and lessons each team needs to learn.
3. Empower customers through proactive communication. Don’t wait for customers to come to you, which is significant when influencing organisational change in the team. Conduct regular strategic reviews, realign goals as needed, and develop customer advocacy programmes. This will encourage customers to share their success stories and provide feedback on how this internal change has positively impacted them.?

Join our events and be a part of our group of Customer Success Professionals. Benchmark ideas, learn about the new trends, and keep yourself updated on the latest happenings in the market.