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Customer Success Management

Customer Success Management

The goals of customer success management are to improve loyalty, retention, profitability and growth by helping customers derive maximum value from purchased offerings. Customer success management technology leverages automation and analytics to help accomplish these goals by providing insight into customer relationships. Recurring revenue models and the emergence of software-as-a-service (SaaS) solutions has accelerated the category. Customer success management solutions combine functionalities and pull data points from disparate systems to provide a single view of the customer. Four criteria that Customer success management tools satisfy the following four criteria: They provide a customer scoring methodology that calculates scores using inputs from product usage and other customer-related systems (e.g. sales force automation, marketing automation platform, customer support platform) and provide data visualization of scores to power customer success manager activities. They provide an ability segment customers and map them against a defined customer lifecycle, and provide insight into customer lifetime revenue and the value of an account based on product usage and other indicators. They provide reporting and dashboard capabilities used to look holistically across the customer base and filter customers into segments (e.g. by customer success manager, vertical industry, geography, portion of the customer lifecycle). Finally, workflows and alerts are generated based on signals from customers triggered by behavior that is out of the ordinary or that meets certain thresholds for setting up workflows or alerts that identify accounts at risk or opportunities for upsell. Show less...

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