Business Fundamentals Exercises
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What is Customer Success?
Fundamental information about what is meant by the terms "customer success" and "customer success management", including what they are, what they do, and what value they provide. What is Customer Success and Why is it Important? What is Customer Success Management? Why Invest in Customer Success Management?
How Does Customer Success Work?
A basic explanation of how customer success works,and the basic concepts behind customer success management. How Does Customer Success Work? The Basic Concepts of Customer Success Management
Customer Renewals and Retention/Churn
Definitions for the terms "renewals", "retention" and "churn" and a basic explanation of the CSM's role in maximizing renewals through increased retention and decreased churn. Customer Renewals and Retention/Churn
Customer Success in Different Business Types
A basic discussion on how the principles and concepts of customer success management apply not just to software-as-a-service companies or even to other companies that provide services on a contractr, but to all companies regardless of how their products and/or services are sold. Customer Success in Different Business Types
Land and Expand Sales Motions
Definitions for the terms "land" and "expand" and a basic explanation of the CSM's role in maximizing renewals through increased expand opportunities. Land and Expand Sales Motions
Customer Advocacy and Lifetime Value
The concept of customer lifetime value (or CLV) and its importance to a company's ongoing success is discussed and explained, together with an example of how CLV might be calculated. In addition the concept of customer advocacy and the role of the CSM in securing increased advocacy is described. Customer Lifetime Value (CLV) [...]
14 Tenets of Customer Success Part 1 of 5
"Tenets" (or guiding principles) One to Three of customer success are described and explained. These are "The CSM Exists to Create Value for Their Own Company", "The CSM's primary task is to help customers attain measurable value from using their company’s products and services" and "The CSM is a subject matter expert in [...]
14 Tenets of Customer Success Part 2 of 5
"Tenets" (or guiding principles) Four to Six of customer success are described and explained. These are "The CSM understands the customer's business", "The CSM is a researcher and an analyst" and "The CSM is a consultant and an adviser". The CSM understands the customer's business The CSM is a researcher and an analyst [...]