What’s new in Customer Success – Thursday, May 5

Hi and welcome to our weekly roundup about what’s new in Customer Success. Each week, we scour the web for the best and brightest, so that you don’t have to! Below, are the top articles from companies, pontificators, and all the vendors.

Enjoy! 
– Jeff Nickerson, Roundup Curator at Sparked 

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From the companies and pontificators:

The Science Behind Customer Churn
This article from Luc Burgelman CEO of NGDATA covers the basic principles of using data to predict potential Customer Churn. He explains that to gain a competitive advantage today companies need to embrace customer intelligence management and make use of real-time big data and machine learning. Love it.

The Ultimate Guide to Calculating Customer Lifetime Value
Do you know how valuable your customers are to your business? Social Media Strategist, Warren Knight gives a great breakdown on how and why CLV is so important to calculate accurately. Read it.

Land, Expand, Retain
Tomasz Tunguz, VC at Redpoint, shows how SaaS companies and startups can communicate their financials using the metrics that are organic to the business. Doing so may make it easier for everyone from investors to operators understand what’s going on. Love it.

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From the vendors:

How to Become Customer-Centric like Trunk Club, Invision & Atlassian
Nichole Elizabeth DeMeré from Segment.com writes about the virtues of becoming “truly customer-centric.” She shares insights from these 3 companies, including a case of “rampant customer success.” Love it.

How Trustpilot Analyzes the Entire Customer Experience
Another good one from Segment.com. It’s a Q&A with Ole Dallerup of Trustpilot. Ole explains that while there are many reporting tools available, if you can’t merge that data with your behavioral data, you may not be able to gain the valuable customer insights that you’re seeking. Totally. Love it.

How to Calculate and Improve Customer Retention Rate
From The SalesForce service hub, this is a nice roundup of retention related data and benchmarks, including an infographic to tack up on your wall to remind you of the formula (er, one of the formulas) to calculate retention rate. Read it.

Top Executives Weigh In On Lessons Learned In Customer Success From the Totango blog we found this recap of the Customer Success Summit 2016 where top execs discuss the valuable lessons they’ve learned through the evolution of customer success at their companies. Good stuff. Watch it.

3 Things Customer Success Management is NOT Another from Totango – Kevin Garcia, Marketing Manager defines Customer Success as a function of what it is not. More good stuff. Read it.

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From us at Sparked:


When daily activity is not a good thing
There are a few cases when high levels of customer activity do not correlate with retention. Watch our latest 2-minute short where Sparked CEO talks about these edge cases. LOVE IT

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Sparked is the least expensive and quickest-to-setup solution for Customer Success teams. Sets up in 30 mins. We’d love to meet you. www.sparked.com

 

Cheerio,
Jeff

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