The Hidden Benefits of Small Talk
Pleasantries lead to trust What do we do when we meet someone new? We engage in small talk. “What’s your name? Where are you from? What do you do for a living?” We probe for something in common to start … Continued
customer engagement
Saying No without Saying “No”
A lesson in customer management from luxury hospitality No is essential in business. Without it, there’s no focus: every idea is a good idea and any deal is a good deal. Despite having limited resources, some companies try to be all things to all people, continually … Continued
The New CRC Metric: Chronicle of Transformation
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
Trust Earned… and Learned
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 Customer Defections Mean Things are Worse Than You Think
“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
Are CSMs Taking a Critical Process for Granted?
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
Cohort Analysis Done Right
Use a p-chart to properly monitor shifts in customer churn Let’s say you run a Customer Success team and your manager asks you to perform cohort analysis in order to better understand customer churn behaviors. Your customers renew on a … Continued
Customer Loyalty Problem Solving
A three-level model helps focus improvement efforts. Customer retention is critical for companies with business models that rely on recurring revenue. The “leaky bucket” that is customer defection robs companies of precious revenue and profit. In cloud computing, cutting customer churn … Continued
Will Kindle Fire’s Mayday Spark a Service Revolution?
Amazon warms up the customer experience One of the hottest Christmas gifts this season is Kindle Fire HDX. It’s a souped-up tablet that includes a new feature garnering a lot of attention. It’s the Mayday button, and it connects you … Continued
Tech Check: Apptegic
Boston-based start-up Apptegic formally launched its new offering at TechCrunch Disrupt NYC conference last month, officially joining the fray in the emerging customer engagement measurement market. Given the very high cost of customer churn on revenue and profitability, tools such … Continued