Best practices are documented steps and/or processes to be followed by CSMs during all steps of the customer/partner lifecycle. This should at the very least include standardized steps for new customer onboarding, minimum outreach to existing customers dependent on the lifecycle phase, follow up after support issues, steps after an upgrade/expansion, Net Promoter Score (NPS) [...]
B2B, or business-to-business, you may use the term B2B2B if you’re the CSM of a SaaS company that uses your product for its customers. An important thing to always keep in mind is that B2B refers to an entire company and not an individual. You, as a CSM, need to focus on customer relationship management and not on individual [...]
An auto-renewal is sometimes referred to as Evergreen’ which indicates no signature is needed when at when the original contract date expires, it will automatically renew, also referred to as rollover, unless the customer indicates they will not be renewing their contract.
An API stands for Application Program Interface, it is a software intermediary, which allows two different software applications to communicate with each other in order to exchange data and information. Understanding what an API is and if your product has an API available could help your product work with an existing product your customer is using, [...]
As a CSM it is important to understand the ARR goal for your company in dollars or percentage of growth. The Annual Recurring Revenue is the annual contract value for each customer, with a goal to renew. As a Customer Success Manager, the ARR is the total amount of revenue managed in your book of business individually and [...]
Actionable Data is information that enables you to carry out a specific workflow or task based on the data that is shared and inputted. This could be as simple as a using a spreadsheet with action items and fields dependent on certain criteria to be populated.
Account Expansion refers to an increase in upsells, cross-sells, optional add-ons, and customer price commitment, leading to an increase in revenue from your customer over time. Understanding your product and the customer’s needs helps to earn the trust of the customer and the natural evolution of increased offerings and commitment.
PIMO stands for Plan, Implement, Monitor and Optimize. The PIMO model describes the steps or phases within the relationship with a supplier as it matures over time, as described from the perspective of the customer (or purchaser). The relationship starts with "planning" to determine the best way to implement the product or service in order [...]
LAER stands for Land, Adopt, Expand and Renew. The LAER model describes the steps or phases within the relationship with a customer as it matures over time, as described from the perspective of the supplier (or seller). The relationship starts by "landing" an (usually small and lower risk) initial sale with the customer, which can [...]
Similar in concept to Customer Experience (CX) but with User Experience it is just the quality of the experience of the actual user of the product or service that is described. User Experience may include qualities such as ease of use, simplicity to understand and be trained to use it, response times, availability levels, and [...]