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 key learnings from their customer success team:
Frequent contact is critical. The Company has weekly meetings with all of their big accounts. Smaller accounts may be contacted less frequently, but at least once a month. Contact is a personal email, phone call, or even an in-person meeting. Email blasts are never done.
Onboarding/Implementation. Every client goes through a 90 day implementation/role 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. In person meetings are the best way to develop champions at a client and make sure there is wide adoption of your product at 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.
Get your customers involved. Give customers some ownership of the product roadmap. Of course, you need to know when to say “no”, but making sure the feedback of your best customers is implemented in new releases of your product goes a long way towards keeping them.
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