As a Customer Success Manager and previous business owner for 10 years, there is a consistent challenge of making sure your customers see your company’s value. Today consumers are able to research quickly, pick and choose their product or services and this retaining customer value through Social Media is what I am studying about at the Northwestern University.
In Mark Schaefer’s article: The 30 Possible Ways You Can Create Customer Value, he lists an amazing 30 methods your company can use to establish value. He reviews how many of these values you should you actually have. In his research, the most successful companies provide more than one value to their customers.
In another article by Eric Devaney: The 3 Customer Success Metrics You Should Be Using, he reiterates how important it is to measure your churn, expansion revenue, and customer satisfaction to derive how much value your customers are getting from your product.
Drawing on these two articles and my experience with Customer Success and business ownership, I have listed three actions that companies should use to retain their value to their customers:
- Establish benchmarks for customer value: It’s not only important to review the data but you should also create benchmarks to measure against
- Solve problems: Problem solving naturally leads to customer happiness which is the emotional component you want the customer to have about your business. Realizing a business can’t solve all problems, it’s essential to have this as a priority.
- Drive value through virality. Word of mouth comes in many forms these days but it is still the number one way customers will see your value. They trust their peers to give them honest feedback.
Starting today, take action to determine the value you have for your customers to ensure stability and growth and most of all happy customers.
My name is Brenda Hanley and I have over 13 years experience in running a successful business and over 5 years in Customer Experience. I am currently pursuing certification in Social Marketing Specialization with Northwestern University in Coursera. You can reach out to me on Twitter @hanleybrenda.