Customer Success Management (CSM) Practice

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A Customer Success Management (CSM) Practice is a customer management practice that increases customer's product value.

  • Context:
    • It can (typically) focus on improving Customer Retention by identifying and mitigating potential churn risks early.
    • It can (typically) incorporate Customer Onboarding processes to ensure smooth initial experiences with a product or service.
    • It can (often) use Customer Health Scores to monitor and assess the ongoing satisfaction and success of each customer.
    • It can (often) involve the proactive engagement of customers to increase Product Adoption and highlight value-adding features.
    • It can be supported by a Customer Success Management System.
    • …
  • Example(s):
    • Square's CSM Practice, which focuses on improving customer outcomes through personalized onboarding and success strategies for their business solutions.
    • LegalOn's CSM Practice, where proactive client engagement and tailored customer journeys reduce churn and maximize the usage of their legal technology tools.
    • Salesforce's CSM Practice, which utilizes automated customer health scoring and personalized outreach to ensure high engagement and retention among its enterprise customers.
    • Zendesk's CSM Practice, known for focusing on customer experience metrics to drive usage expansion and reduce churn in its customer support software platform.
    • Adobe's CSM Practice, where the focus is on helping enterprise clients maximize the return on their investment in Adobe's creative and marketing products through strategic consulting and support.
    • Zoom's CSM Practice, which ensures continued growth by working closely with clients to expand usage of its video conferencing solutions, particularly with large-scale enterprise deployments.
    • HubSpot's CSM Practice, designed to help customers adopt its inbound marketing and sales platform by offering tailored onboarding and usage analytics to drive value realization.
    • Slack's CSM Practice, where CSM teams work to increase product stickiness by driving deeper usage of Slack's team collaboration tools across departments within client companies.
    • Microsoft Azure's CSM Practice, which provides technical support and success strategies to help enterprise clients fully utilize cloud services, ensuring the achievement of their business goals through cloud transformation.
    • Workday's CSM Practice, where customer success managers focus on helping customers navigate complex HR and financial systems, ensuring full adoption and reducing friction in transitioning to new cloud platforms.
    • …
  • Counter-Example(s):
  • See: Customer Lifetime Value, Success (Concept), Customer Relationship Management, Product Advisory Council, Personalized Marketing.

References

2023

  • GBard
    • Customer Success Management (CSM) is both a process and a practice.
    • As a process, CSM is a series of steps that a company takes to ensure that its customers are successful in using its products or services. The CSM process typically includes the following stages:
    • As a practice, CSM is a customer-centric approach to business that focuses on building long-term relationships with customers and helping them achieve their goals. CSM practitioners use a variety of tools and techniques to understand their customers' needs, identify and address potential risks, and provide proactive support.
    • Other ways to describe CSM: A customer engagement strategy, ...

2022

  • (Wikipedia, 2022) ⇒ https://en.wikipedia.org/wiki/Customer_success Retrieved:2022-6-24.
    • Customer Success or Customer Success Management is a business method ensuring customers achieve success: their desired outcomes while using your product or service. Customer Success is relationship-focused client management, that aligns client and vendor goals for mutually beneficial outcomes. Effective Customer Success strategy typically results in decreased customer churn and increased up-sell opportunities. The goal of Customer Success is to make the customer as successful as possible, which in turn, improves customer lifetime value (CLTV) for the company.
    • QUOTE: ... On the more dramatic end, CSM represents the act of imbuing an agent/fiduciary orientation to customer management in industries that typically have a more arms-length relationship. In a fiduciary or agency type relationship, the seller concerns itself with proactively leading customers beyond simply utilizing the narrow offering provided by the seller. A redesign of organizational elements can enable this vision of CSM to be fully realized (Porter & Heppelmann, 2015).

2020

2016

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