Recession-Proof Your Business
Welcome back to the Success Stories Newsletter! We’ll be sharing real success stories from our customers and how you can share in the success, too! You can learn more about Totango and what we do here .
As we continue through this time of economic uncertainty, it’s more important than ever to protect your business. This week, we’re covering Recession-Proof Your Business , inspired by our webinar with Elizabeth Tajonar, Team Lead for Customer Success at Totango, and Emilee Marchesiello, Director of Customer Success at Meazure Learning (parent company of ProctorU).?
What can you do when things look uncertain?
Protecting your customer base is a crucial action for stabilizing during uncertain times. This is why it’s so important to reorient your operating model from acquisition-driven to value-driven, focusing your time and resources on existing customers rather than obtaining new ones.?
In Customers: The Growth Lifesaver in Times of Uncertainty , we talked about the importance of delivering value to existing customers early and often, automating to scale, and staying current on customer health so that you can take action on risks.?
The data says it all. Companies that have shifted to a value-driven model are seeing loyal customers (with the lowest churn rate at 3% ), growth efficiency (with a superior NRR of 125% ), and faster growth (with 10x faster generation ).?
So how did ProctorU transform?
ProctorU had zero visibility to the point where they weren’t even sure who their active customers were, and they were working over multiple platforms with no standardization or consistency with their client base, which impacted their overall health.
ProctorU had a really solid customer success practice, but software and tools were more of a challenge. That’s where Totango came in. ProctorU took a deep dive into their health, analyzed when the last touch point was with their clients, and made risk assessments.
With Totango, ProctorU could go into their system and see a quick snapshot of each customer’s health. ProctorU had access to quite a bit of data, but they wanted to better understand what the data said about client satisfaction. For example, if a client was down in volume, did that mean they were unhappy??
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ProctorU took the next step by sending surveys out to clients who had used their service in the previous 90 days. They used this information to project how many of their clients were at risk. Through Totango, they were able to break down what exactly that risk was—customer friction or pricing and packaging.?
ProctorU identified the customers that were dissatisfied with pricing and packaging, sent them to their sales team, and came up with a plan to secure those clients. They knew now that if they did nothing, they would lose 116 customers, but Totango helped provide ProctorU with the tools to pinpoint those customers, get the ball rolling on their value-driven operating model, and retain their business.?
“We pull up Totango, and just like that we have the segments and information at our fingertips.”?
With Totango, ProctorU has mapped out when exactly to reach out to their clients for maximum effectiveness. Their customers work around academic calendars, and Totango has allowed ProctorU to focus in on engagement rates at different times of the year.?
ProctorU wanted to drive product adoption, examine pricing and packaging, and address customer friction. Totango helped ProctorU do that and more by enabling ProctorU to input all of the data they gathered into forecasting actuals vs. projected. Actuals eclipsed projected in 2022, exactly as they wanted. As Emilee said, “Without the help of Totango, none of this would’ve been possible.”?
ProctorU’s key takeaways:
You can catch Emilee as a speaker at our upcoming Customer Success Summit: Teams from September 14-16! Get tickets here .?
Ready to take the next step in retaining your customer base? Use our Invest in CS SuccessBLOC bundle to engage customers, detect risk, and analyze customer health.
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