Dopamine yields dollars “So that’s what happened. When Microsoft pushed their latest Windows update, they shut off a service the printer uses to communicate over the wireless link.” The Hewlett-Packard support rep then clicked on the utility and turned it … Continued
Same change, different industry Last week, Totango discussed Customer Retention Cost (CRC) at their annual Customer Success Summit in San Francisco. Their new measure helps SaaS companies compare the costs of battling churn and growing installed base revenue. The metric, … Continued
In the subscription economy, the level of trust companies accumulate with customers is a primary driver of retention and loyalty. But what is trust and what should cloud computing executives be mindful of in their day-to-day operations? This business of … Continued
Why adding photos at multiple touch points builds customer trust Sometimes companies can form stronger customer relationships by doing the simplest things. Adding smiling, welcoming images of key sales and support people in online, mobile and e-mail communications sends an … Continued
Evidence suggests trust forms a barrier to churn A competitor just introduced a new product that delivers significantly higher performance. Do you worry your customers will jump ship? If they trust you, there’s little to fear. A new study using … Continued
Software usage is just one driver in customer loyalty A widespread belief shared by Customer Success professionals is that promoting software use early after the sale leads to less churn. It makes sense. But usage is just one factor leading to … Continued
The cloud computing industry loses about $10B every year due to customer churn, and in response, many executives launch improvement initiatives. They assign Customer Success teams to engage new customers, increase product usage and probe for sales opportunities. Other times, … Continued
“A bird in the hand beats two in the bush.” John Ray’s A Hand-book of Proverbs, 1670 Most SaaS executives assume customer churn rises the minute a company loses its competitive edge. Not so. If customers are switching to top … Continued
“My good opinion once lost is lost forever.” ― Jane Austen, Pride and Prejudice Eye contact. A smile. Friendly conversation. We all know first impressions mean a lot when we meet someone new or interview for a job. The same … Continued
It’s time to view relationship-building from a new perspective Studies have shown that people switch vendors for three reasons:1 1. Expectations for quality and value go unmet 2. Customers lack personal attachment to the supplier 3. It’s easy to switch … Continued