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The ROI of Customer Success Software

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The ROI of Customer Success Soware 2 It's a strategic, long-term investment From a financial perspective, a customer success platform has a huge impact on the cost of retention, as well as upselling and secondary revenue. While churn is seen as a negative, it is also a reality for many businesses. Every year, customers will leave for different reasons - some of which are beyond your control. The key is effectively managing churn so it does not become a problem. A small reduction in churn and an increase in upsell revenue can have a huge impact on revenue and the bottom line, as well as jump-start enterprise value. Given the benefits, an investment in a customer success platform needs to be seen as a long-term investment. In the first year, there may only be a small return as a system is implemented and embraced by the organization. In the next two to five years, there will be a large positive return as a customer success platform impacts churn, retention and upsell activities. Here's another way to think about it: an investment in a customer success platform is no different than investing in a CRM or marketing automation platform. It is an investment that establishes a solid foundation for the business and, as important, will have a significant financial impact. It's a strategic investment: a short-term pain, long-term gain proposition. For fast-growing SaaS companies, it is easy to focus on new customers. When someone makes a purchase, it means the value of your product is resonating and your marketing and sales efforts are driving conversions. But as much as new customers are rewarding, it is equally important to take care of existing customers. While it is easy to assume they will remain happy and loyal, it is a serious mistake to take customers for granted. In a competitive world, there are too many alternatives for customers who start to have doubts about their current provider. The financial importance of existing customers is why companies need to make an investment in a customer success platform, a powerful tool that drives trial conversions, retention, loyalty and more product sales. A customer success platform is a key pillar in how a SaaS company does business, alongside other core applications such as CRM, business intelligence and marketing automation. For companies exploring the purchase of a customer success platform, this eBook will show you why it is a rock-solid investment with a variety of economic and organizational benefits.

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