Does your team have a focus on your client's success? If not, you may be missing a key driver in increasing revenue for your business - potentially a 3X ROI worth(1).
If you haven’t been leading a focus on client success, you are not alone.
“Nearly 80% of companies spend less than 30% of their time and budget on client retention-focused messaging and content.”(2)
You may be thinking, we have a fantastic team member or two who manage all our client questions when they call or email in - isn’t that enough?
For your business, it may be. However, clients are looking for more and expecting business that want their continued business will deliver more. They are expecting the trends from the consumer space, such as mobile application, will be part of their B2B experiences too. The PwC Future of CX survey of 15,000 US consumers confirmed this:
“Human interaction matters now—and 82% of U.S. and 74% of non-U.S. consumers want more of it in the future. That makes it crucial that the technology supporting human interaction is unobtrusive and works seamlessly across platforms." (3)
Yes, those are consumers responses, however, customer sentiment becomes B2B client concerns quickly particularly if your business is starting to service a younger generation of B2B contacts or clients.
How long will that sentiment take to start making an impact on your 1 or 2 team members managing a portfolio of clients with phone and email support? Could they work better for your clients by being supported by a technology solution to help with their client success needs?
"Over the next five years, great customer success will become a critical competitive advantage for companies, just like great customer support is today." (4)
What is customer success vs client success? The term customer success sprang up in our industry, SaaS (Software-as-a-service) and has spread into many industries given the confirmation that customers once using a product are more likely to stay customers, increase their revenue commitment, and provide referral to others when they felt looked after by an internal team member - a customer success person. Client success is an evolving commitment by service companies to replicate the successes found in customer success. If you have clients, who are using your business for services this is the area you'll want to start looking into to meet the changes in your client expectations.
No matter the business, we all have to adjust to expectations of the market we serve. Here at Clinked we are using our product to help better manage our client experience through a client knowledge platform development.
What is a client knowledge platform you may ask? Client knowledge is the junction between external clients and internal team members - from executing client management and support to delivering consistent branding and two-way secure documentation for all clients in individual permissioned spaces. We thought it would be a great idea to explore how we can expand our use of Clinked with our clients. We’re already use Clinked for our internal team to complete our work - so we thought why not share our client knowledge use case! Also, why not use Clinked's full capabilities to integrations with other systems?
So that's what we're doing - we’re bringing together our various client success and operational processes such as support, roadmap requests, development, and client communications into a white-labelled client portal (i.e. Clinked) to meet the needs of our clients. Putting the proof into action!
Curious to do the same for your clients? Or not sure where to start?
Give our team a call to get a consultative session scheduled.
We look forward to speaking with you and learning about your business and client needs!
Sarah is the Chief Revenue Officer at Clinked. She joined Clinked with 15-years experience in financial services, private equity, and software focussed on client experience, engagement, and delivery.