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Well, in a B2B customer success model, measuring renewal rates holds your outsourced partner accountable to targets that are tied to revenue and retention. Understanding LifetimeCustomer Value (LCV) and how the service and support experience contributes to or detracts from the realization of LCV is critical ( more on the LCV metric here ).
The MIT Technology Review is right when they say, “The success of many companies increasingly depends on how wisely they can mine data about their customers’ behavior and respond accordingly.” Get the ebook, The Modern Guide to Winning Customers with Net Promoter Score. ” Setting up an NPS program?
Call tracking from providers such as Mediahawk tracks all online to offline interactions, providing seamless information on the entire customerjourney. You can then calculate how valuable these interactions and conversions are from lifetimecustomers. Together this all forms a frictionless customerjourney.
Truly invested in sharing his amazing insights on best practices for Customer Success professionals, James has assisted several individuals and organizations on their customerjourneys through the Atlanta Tech Village community. As of now, she is the GVP NAA Customer Success & Renewals at Oracle. Jay Nathan.
The more loyal those customers are, the more they buy. With that in mind, it’s clear that the quality of your customer experience is directly correlated with LifetimeCustomer Value. (We We discussed the LCV metric in more depth in our recent blog post, The True Cost of Losing a Customer.). Sound complicated?
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