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Market Overview: Customer Success Solutions

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Forrester Research, Inc., 60 Acorn Park Drive, Cambridge, MA 02140 USA Tel: +1 617.613.6000 | Fax: +1 617.613.5000 | For: Application Development & Delivery Professionals Market Overview: Customer Success Solutions by Kate Leggett, October 31, 2014 Key TaKeaways subscription Companies Must actively Manage Relationships To ensure success Customer success management is an emerging discipline for subscription-based companies; it uses processes and vendor solutions to actively manage customer relationships to ensure their success. Why? In a subscription economy, the economic value of a customer is realized over time, instead of upfront. actively Managing Customers Increases Revenue Actively managing subscription-based customers to ensure their success reduces churn, increases revenue, and influences new sales. Firms use an array of CRM, finance, support, and customer feedback data to create a composite health score; monitoring this is at the heart of understanding and managing customer satisfaction and propensity to churn. Vendors Operationalize Customer success Management Customer success management vendors are emerging. A small number of companies offer tools and processes to actively collect and synthesize data to monitor customer health and act on changes in health scores. Closely investigate vendor capabilities to pinpoint one that matches your company's needs and process maturity.

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