Written by Ana Canteli on 17 April 2023
Companies interested in getting the most out of their customer relationships could invest in creating a Customer Success Management (CMS) department. In English, it is known as Customer Success Management, and let's not kid ourselves; it is nothing new either. Caring for our customers is inherent to business continuity. However, it is now confirmed that, with all the benefits and advantages that technology brings, it would be a waste to continue approaching customer relations the old-fashioned way.
Customer Success Management (CSM) is the process of ensuring that customers successfully use the company's products or services. The primary objective is to provide long-term customer satisfaction and loyalty by maximizing the development or service's adoption, usage, and value.
CSM combines technical, business, and relationship management skills to ensure that customers are satisfied and derive long-term value. By investing in CSM, companies can increase customer retention, loyalty, and customer satisfaction, increasing revenue and business growth.
Adopting Customer Success Management (CSM) software is essential to start with this business model. It is a platform designed to help customer success management professionals to improve customer relationships, ensuring the completion of the bond with the company and long-term satisfaction. We take this opportunity to name some of the features of any CMS software.
Adopting Customer Success Management (CSM) software is essential to start with this business model. It is a platform designed to help customer success management professionals to improve their relationship with customers, ensuring the completion of the bond with the company and long-term satisfaction. We take the opportunity here to name some of the features of any CMS software.
Customer Success Management (CSM) benefits many business models, especially those that rely on customer satisfaction to retain and grow their customer base. Some examples of business models where CSM is particularly effective are:
A company may need Customer Success Management (CSM) for several reasons, among them:
Customer success management is optimistic for other departments and areas of the company, such as sales and marketing. One of the strategies that a company can implement to attract potential customers and retain them once they have become customers is Inbound Marketing. Inbound Marketing helps to attract customers through exciting and instructive content, which can generate interest and trust in the company and its products or services. Once customers have become customers, the Customer Success Manager takes over, working to keep them satisfied and helping them achieve their long-term goals. Inbound Marketing and Customer Success Management (CSM) are related in that both focus on attracting and retaining customers over the long term. While Inbound Marketing focuses on attracting customers through relevant and valuable content, CSM focuses on maintaining and increasing the value of existing customers.
For example, imagine a company in the service industry that provides digital marketing and social media solutions has established a Customer Success Management (CSM) department to help its customers achieve long-term success with their answers.
An example of a CSM process that the company could implement for its customers could be as follows:
With OpenKM, you can create your own customized customer success management software. The document management software has all the necessary functionalities to collect all customer-related information. Through automatisms, workflows, or optical character recognition, you can improve any business process or task, especially those that are repetitive, have little added value, and are likely to increase the rate of human error. In addition, OpenKM is a shared work platform ideal for offshore companies, with remote staff or staff located in the client's office. All authorized personnel will be one click away from the reports and metrics they need to make informed decisions. And with the OpenKM Academy e-learning platform, we'll ensure that the onboarding and adoption phase is a success for customers and our staff.
If you want to know more, get in touch with us.
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