Customer success is all about contact. We discuss key learnings from a company with phenomenal net revenue retention.
Sammy is a co-founder of Blossom Street Ventures. They invest in companies with run rate revenue of $2mm+ and year over year growth of 50%+. We can commit in 3 weeks and our check is $1mm. Email Sammy directly at sammy@blossomstreetventures.com.
Recently we met a company with phenomenal net revenue retention. They almost never lose a customer and have a tremendous level of upgrades, easily outpacing churn and downgrades. Below are the key learnings from their customer success team:
Frequent Contact Is Critical for Customer Success
First of all, the company has weekly meetings with all of their big accounts. Contact smaller accounts less frequently, but at least once a month. Similarly, contact is a personal email, phone call, or even an in-person meeting. Lastly, never do email blasts.
Onboarding and Implementation
Additionally, every client goes through a 90-day implementation and roll out, and customers are re-trained as necessary or as new employees come on. If your customers don’t know how to use the product or if they’re depending on existing employees to train new employees on your product, you will lose them.
Get on a Plane
When necessary, a senior exec at the company will fly out to a client to help them with implementation or training. Additionally, meetings in person are the best way to develop champions with a client and make sure there is wide adoption of your product as a client.
Clients that see there are actual people behind your software, in person, makes them more inclined to upgrade and work with you through tough periods.
Involve Your Customers
Give customers some ownership of the product roadmap but know when to say no. Also, make sure your best customer’s feedback is integrated – it goes a long way.
