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Customer Success Strategy

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Customer Success Strategy

A customer-first approach for succeeding in the XaaS world A holistic customer success (CS) strategy enables organizations to shift to a customer-centric mindset, resulting in satisfied customers who drive long-term growth and profitability. Making that shift is often challenging and should require a strategic vision that breaks down silos and creates alignment across the entire organization.

What is customer success?

CS is an organizational mindset that drives proactive orchestration of capabilities to deliver a distinctive customer experience. With this mindset, organizations can understand customers at a deeper level than ever before, properly diagnose their most troubling pain points, and maximize value creation through providing the right products and services. By enabling their biggest business goals to be realized, organizations can transform customers into long-term advocates. Put simply, an effective customer success strategy helps lead to happier customers.

Why CS, and why now?

As customers today engage more and more with digital solutions fueled by the cloud and sold in flexible consumption models, a customer success strategy is more critical than ever. End users rely on real-time data access and remote delivery capabilities packaged in outcome-based services. This evolution from a traditional linear customer engagement model to a more dynamic, cyclical anything-as-a-service (XaaS) model has reframed the old question, “Who can I sell my product to?” It’s now a more customer-centric ask: “What does my customer need?”

What are the benefits?

Enabling the capture of added business value while providing enhanced experiences results in tangible benefits for both customers and organizations. Embracing a CS model and mindset means shifting the focus of the provider’s business to be more customer-centric, resulting in higher wallet share, lower cost-to-serve, and increased customer loyalty. The best solutions focus on swift and painless customer onboarding along with proactive retention and growth planning efforts to deliver higher value to customers. TrueNorth has worked with leading organizations to build a CS vision and execute on that strategy to deliver positive and prolonged impact.

  • IT technology
  • Software
  • Digital marketplace
  • Other organizations

IT technology

In its first year, an IT technology provider saw an over six-figure increased return, recorded a double-digit upsell and renewal rate increases on enterprise license agreements, and saved several months between deployment and moving to scale with their partners.

Software

A leading software company increased their customer health and business value scores upwards of 15 and 25 points, respectively.

Digital marketplace

A digital marketplace provider grew their CSM cadre by double-digits, improved their ability to win customers quickly, with nearly 2/3 of their customers closing within a shorter time window, saw a significant increase in new product conversion growth, and nearly doubled their used product traffic.

Other organizations

Other organizations, after having successfully adopted a customer success model, have realized higher customer retention rates (a five-point uptick), stronger net promoter scores (averaging a 12-point improvement), and a 40 percent increase in software usage. We’ve experienced a 35 percent increase in CS spend in the last two years alone.