Driving Customer Retention and Customer Growth at Scale

Hello Customer Success Pros,

I have just released my next podcast episode with none other than Daphne Costa Lopes. Daphne is a household name in Customer Success, but when she is not helping the CS community with her amazing newsletter, she is the Director of Customer Success at Hubspot. 

Over the last decade, She has helped Start-ups, Scale-Ups and Fortune 500 businesses build and scale global Customer Success teams to service 200K+ customers and $2B+ ARR. She’s invested her energy into building and scaling Customer Success teams to be the second engine of growth for tech businesses and today we will talk to Daphne all about how to drive and grow retention at scale. She has created concepts like SuccessQLs for her customers and by focusing on Customer-Led-Growth and she’s helped the businesses she’s worked with achieve 130%+ NRR.

In this episode, we chat about strategies for driving and growing customer retention at scale. We explore a range of models from renewals to segmentation, customer success qualified leads (CSQLs), and automating success plans and QBRs.

Listen to our full conversation below to get some practical tips and tricks on how to scale customer success and still drive revenue from your long tail as well as ensure renewals are as frictionless as possible.

Some of the questions I ask Daphne in our conversation:

❓How can you continue to retain customers in a digital funnel?

❓What are some of the strategies you use to ensure you are working proactively but just not with a human interaction?

❓How did you start renewals - especially when you have so many customers?

⭐️ Key Takeaways:

1. Dynamic Segmentation Strategy: It's so important to segment customers not just based on current spend but also potential value and product usage. By creating a dynamic segmentation model that considers both the immediate and potential value of customers, as well as their health in terms of product usage, you can prioritize your time more effectively.

2. In-Product Value Communication: To drive customer success and ensure renewals, it's crucial to embed value proof within your product. For example, dashboards and summaries that showcase key metrics and outcomes directly within the user's interface can continually demonstrate the product's value without needing direct human touch.

3. Automation in Customer Success: Automation can significantly enhance customer success efforts, especially at scale. Automated tools and AI-driven insights can provide recommendations based on user behavior and benchmark performance against similar users. This allows for proactive and personalized customer engagement, even in lower touch segments.

   Have a listen to the latest podcast on Spotify, Apple Podcasts, or Youtube and make sure to let me know what you think!

That's all for now, I will share more on the podcast on Linkedin and of course on the next newsletter.

I hope you’ve found this newsletter helpful. If you did find it helpful feel free to forward it to a friend or a colleague, sharing is caring! If you have any questions or suggestions, please feel free to contact us.

Thanks,

Anika

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