Customer Success: Fuel For Your Startup
At Allied Legal we understand just how
competitive the startup sector can
be, which is why customer success is so important. It is no longer viable to simply attain as many clients as possible, because customer
acquisition is
just one component. Instead a startup needs to actively engage their client-base in order to gain referrals and long-lasting clients.
The success of your startup is connected to its ability to retain customers and create steady cash flow. Afterall your clients need more than just the draw of your product or service to justify paying recurring costs. Customer success is all about understanding your clients’ needs and developing strategies to meet them. According to cobloom customer success involves four key stages:
- Activation: when a client first encounters and uses your service offering. If your client does not feel that they are gaining value, they will most likely find an alternative during this stage.
- Expansion: your client has become an active user of your offering.
- Renewal: your client has the option of switching services, or renewing their subscription with you.
- Referral: your client is recommending your product to their network.
Startups are competing against established businesses, with extensive marketing teams and large followings. In order to distinguish your startup from your competitors, you will need to invest time and energy into customer success. Here are some tips to assist you with the process:
S.M.A.R.T Goals
What differentiates ‘customer success’ from ‘customer service’ is the strategy element, which means you will need to set strategic goals. A classic for a reason, S.M.A.R.T goals ensure that both your short and long term plans are: specific, measurable, attainable, realistic, and time-bound. Implementing S.M.A.R.T goals can assist in aligning your startup’s core mission and values with actionable customer-centric measures, and creates a benchmark for your customer success performance.
Listen to Feedback
If you don’t ask, you won’t know until it is too late. Customer feedback is therefore essential to understanding how users are responding to your offering, and whether any changes need to be made. Once you recognise your clients’ needs and issues, the simpler it will be to provide adequate support.
Communication
Communication – both internal and external – is essential to the success of any business or startup. Establishing a simple workflow process such as a “support” email address dedicated to responding to your clients’ concerns and feedback can be useful. Additionally, implementing company processes such as regular team meetings and onboarding may assist your startup to avoid consumer ‘churn’ during the activation stage. Productive communication processes can also help your startup to retain your client-base.
Need help? Contact us
At Allied Legal our business growth advisory team is dedicated to helping your startup achieve customer success. If you want someone on your team, give us a call on 03 8691 3111 or send us an email at hello@alliedlegal.com.au.
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