State of Customer Success 2018
While customer success as a practice may have found acceptance amongst marketers today, there is still some way to go before businesses can gain the most from it, concludes a recent study done by Regalix titled “State of Customer Success 2018”. That’s because customer success programs are still primarily driven by the need to reduce churn (66%), and increase product usage (65%), and longer-term benefits like upselling and cross-selling (38%) or gaining referrals (16%) are yet to be fully leveraged. In fact, Customer Lifetime Value, a long-term indicator of the performance of a customer success program was not even being tracked by as high as 57% of the respondents.
According to the study, companies preferred email (88%) and phone (80%) the most to engage with their existing customers. Webinar & online events (37%) and social media (12%) were less preferred despite having proven advantages.
Managing customer expectations (57%) and measuring customer satisfaction (52%) were the biggest challenges that marketers said they faced in running their customer success programs.
Live demos (78%) came out as the most-used asset for onboarding customers. Videos (49%), in comparison, found less favor.
So which technologies did marketers hope to employ soon in their customer success program?
Well, predictive analytics won hands-down with a response rate of 68%. Chatbots, the current buzz notwithstanding, found favor with only 27% of the respondents.
The report goes on to imply that while the current initiatives undertaken by marketers in their customer success program are commendable, marketers will stand to gain a lot more by digging deeper into the benefits of such a program.
To read the detailed report please visit-
http://www.regalix.com/insights/state-customer-success-2018/
About Regalix
Regalix is a Customer Success company that re-imagines customer experiences across hi-tech, ad-tech and retail domains. It is headquartered in Silicon Valley with branches across Europe and Asia. The company has partnered with some of the biggest global B2B organizations in their efforts at customer acquisition, growth and retention.
Regalix, with its roots in data-driven and ROI-oriented marketing, is a full-fledged Customer Success company, delivering seamless customer experiences in today’s subscription-based economy. The company combines technology and human intelligence to boost efficiency, while improving CSAT.
Venkatesh Anand
Regalix Inc
6503865338
email us here
