SmartKarrot

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Want to create an account management strategy that actually gets results? Then don't miss our 6 AM best practices for B2B companies below: https://www.smartkarrot.com/resources/blog/account-management-best-practices-for-b2b/

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Want to focus on revenue growth this year? Then see how Mary Poppen says the key lies in Customer Intelligence in her interview below. https://medium.com/the-success-revenue-publication-by-revsetter/customer-intelligence-is-the-key-to-unlocking-revenue-growth-fe3b0f36245e

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Talks about focusing on revenue growth happening in the board room? Wondering how you can contribute? By focusing on expansion revenue. 👇 Why is expansion revenue the key to revenue growth? Expansion revenue doesn't require acquiring new logos. (Which in the current economy might be a challenge.) But ER focuses on increasing revenue through your existing customers by offering value-based opportunities. ✨ Why value-based opportunities? ✨ Your customers are only keeping tools that are valuable to them. If you want to make your product a no-brainer to keep in their tech stack, then your goal should be to see your customers succeed by always offering value. How can you know when the right time to approach customers is? With an augmented intelligence tool. These tools can help your teams see these value-based opportunities and automatically alert them. Increasing your revenue, even in the current economy, isn't impossible. Because the right tools make it possible.

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CS Leaders, think NPS isn't a good measure of success for your 2023 strategy? It's all about how you utilize it. In his blog post, Arvind Mehrotra offers several ways you can adapt this metric to your CS strategy. See what they are below: https://www.smartkarrot.com/resources/blog/power-of-nps-for-cs-strategy/

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Looking for ways to manage your expansion revenue across CS, sales, and account management? Learn more in our article below. https://www.smartkarrot.com/resources/blog/expansion-revenue-management/ 

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Want to start creating more customer advocates but need a little help? Then check out Rachel Provan's article on how to turn customers into Brand Ambassadors below! https://provansuccess.com/customer-advocacy/

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"Why aren't we bringing in more revenue from our customers?" Because your teams aren't able to identify them accurately. In our survey, 57% of participants said Risk and Opportunity alerts should be automated the most. Why? Because that's where your revenue potential lies. Your teams can only help customers with a value-based expansion approach if they know the best time to contact them. And they'll only know and have the time to have these conversations with automated Opportunity alerts.

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Wondering why you're not getting more revenue from your existing customers? The timing is off... Not all your customers should be approached with expansion opportunities. Some customers are finding the most value in their current plan. While others might be on the verge of downsizing theirs. So how can you increase your expansion revenue? Teach your team to focus on providing value-based expansion opportunities. When you know what customers to approach with these opportunities, you can offer timely up-sells, cross-sells, and add-ons based on their needs. How can you find these opportunities without sacrificing your team's time? Using a tool that will automatically notify your team with value-based expansion opportunity alerts.

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You have churn under control, and now the Board is wondering what's next. Check out our article on how to move from a retention mindset to focusing on account expansion below. https://www.smartkarrot.com/resources/blog/retention-to-expansion-mindset/ Thoughts?

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Want to start reading a client success book to sharpen your skills? Check out some of the top CS books!

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Agree 👍 or Disagree 👎: Customer Success will continue to evolve from a churn buster to an earn booster role. 71% of CS practitioners believe that CS will be seen as a revenue-generating asset versus a churn-preventing cost center in the future, according to our annual Global Customer Success - Intelligence & Automation survey. Let us know what you think below: 👍 or 👎 Get the full report here: https://www.smartkarrot.com/customer-success-survey-2022/

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With the economy on the rocks, see how Wayne McCulloch (CCO, WalkMe™) says you can still build lifelong relationships with your customers in his Forbes article below. https://www.forbes.com/sites/forbestechcouncil/2022/10/20/growing-business-and-revenue-in-an-uncertain-economy-four-steps-to-build-customer-relationships/?sh=5839f4d27853

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Not every customer sent your way will be a good fit for your product. Some customers don't understand what your product offers, and others have the wrong expectations. The point? 👇 Even if you want to help them reach their desired outcome, you can't help some customers. This doesn’t reflect your ability to help them, but they’re not a good fit.   Your next steps? 👉 Focus on your customers that can actually get value from using your product because no amount of helping and optimism will make you a good fit for them and vice versa. 👉 Work together 🤝 with sales so everyone’s on the same page about who’s your ideal customers. 👉 Take it a step further and start collecting data that lets your stakeholders see that X customer type isn’t who you should be targeting—or closing—because they’re most likely to churn, which costs 💲💲💲. Because it’s not your job to put out fires that were predestined to burn 🔥 but rather help the customers that you can.

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Need to hire a new CSM? Then don’t just hire ‘another.’ Hire with purpose. Our CEO, Prithwi Dasgupta, said, “Don’t make a generic hire; instead, focus on the outcome and goal of that role and hire someone who fits it.” You’re not just filling a role; you have a goal to be met, so make sure your new hire can help you and your team reach it.

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Your customer champions are critical to helping your customers succeed. But what about your internal team? Are you relying on them to help your customers reach their goals? You should. 👇 Find out why utilizing your internal experts is a great way to help your customers succeed in the article by Katie Christian (Head of CS, Calendly) below! https://customerthink.com/why-its-important-for-customer-success-to-leverage-internal-experts/

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Want to start creating success plans that help your customers succeed? Check out our post on creating killer success plans with examples, best practices, and more below! https://www.smartkarrot.com/resources/blog/creating-customer-success-plan/ Have any other best practices to add? Tell us below!

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When hiring for your next customer success role, you won't have a talent shortage problem but a finding the best-fit one. So, what should you do? Start with the end goal in mind. Don't post a job listing without knowing what you want from it. Instead, start with a strategy—a goal you want to achieve with your new role. And hire someone who fits the bill.