State of Customer Success 2018
While customer success as a practice may have found acceptance amongst marketers today, there is still some way to go before businesses can gain the most from it, concludes a recent study done by Regalix titled “State of Customer Success 2018”. That’s because customer success programs are still primarily driven by the need to reduce churn (66%), and increase product usage (65%), and longer-term benefits like upselling and cross-selling (38%) or gaining referrals (16%) are yet to be fully leveraged. In fact, Customer Lifetime Value, a long-term indicator of the performance of a customer success program was not even being tracked by as high as 57% of the respondents.
According to the study, companies preferred email (88%) and phone (80%) the most to engage with their existing customers. Webinar & online events (37%) and social media (12%) were less preferred despite having proven advantages.
Managing customer expectations (57%) and measuring customer satisfaction (52%) were the biggest challenges that marketers said they faced in running their customer success programs.
Live demos (78%) came out as the most-used asset for onboarding customers. Videos (49%), in comparison, found less favor.
So which technologies did marketers hope to employ soon in their customer success program?
Well, predictive analytics won hands-down with a response rate of 68%. Chatbots, the current buzz notwithstanding, found favor with only 27% of the respondents.
The report goes on to imply that while the current initiatives undertaken by marketers in their customer success program are commendable, marketers will stand to gain a lot more by digging deeper into the benefits of such a program.
To read the detailed report please visit-