Having an inefficient funnel very quickly undoes any acquisition work from a growth standpoint. To compound that, there is only a 5-20% chance of selling to a new customer, compared with a 60-70% chance of selling to an existing customer. Excelling at customer success is not just nice, it’s essential for sustainable growth.
While there may be a team already dedicated to customer success, carrying out responsibilities like one-to-one support or custom implementations, it is important that your team owns or at least has a direct input into larger scale customer programmes and initiatives which aim to promote customer lifetime value (like upselling, product updates and onboarding). A quarter of CMOs say leading the customer experience is the biggest expectation their CEOs have of them. The skillset in your team makes this a natural choice, as similar principles to acquisition apply when identifying customer opportunities for upselling. Marketing can also ensure communications are meaningful and consistent with the experience customers were promised higher up the funnel. Moreover, the team can be more responsive if they oversee communications for the entire customer journey. Ultimately happy customers are likely to buy more and tell their friends. In addition, this close union between the two functions promotes better transparency over what makes a good customer, which can be fed back to refine acquisition efforts.
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