When Caroline Keros was given the job of Sales and Marketing Director, her company had a 2020 goal to achieve less than 5-10% churn for current customers. Given a global customer base of less than 50, Caroline was told that maintaining a strong relationship with every customer was extremely important.
Previously, contact with customers was not on a regular cadence, but usually revolved around when implementation projects, when maintenance payments were due or if a help desk ticket was submitted. However, no resources or methodology existed to quantify satisfaction with software applications already purchased.
Caroline said, “In an effort to be more proactive I worked with the Customer Success Manager to inaugurate a quarterly business review process that required personal contact with 100% of the customer base on a repeating schedule. We outlined specific questions to cover each quarter to make sure we were achieving two extremely specific goals, 1) account management and software satisfaction (e.g., ensure all account management details were up to date for billing and contact purposes and review of any recent issues or help desk tickets submitted), 2) discussion of upcoming projects and timelines for new software needs that the organization may have (e.g., up-sell opportunity).”
We also distributed a net-promoter-score survey to all critical contacts after the quarterly business review meetings during Q2 and Q4 to quantify the level to which users of the technology platform found the products of value and how responsive our company was to their needs. For documentation purposes, all NPS score results were stored in the CRM on both the contact as well as aggregated results for an organization score if we received responses from multiple contacts at the organization. “This documentation allowed quick access to the results and facilitated evaluation and comparison of the results from quarter to quarter to assess improvement or lower scoring results in upcoming quarter NPS surveys. Storing the results in our CRM also allowed for easy reporting metrics and analysis,” Keros said.
This resulted in an initial NPS of nine for the program’s two introductory quarters, which provided an effective customer satisfaction metric as well as useful tool for effective messaging for sales-growth campaigns.
“The quarterly business reviews yielded $800,000 in fresh customer opportunities through up-sell and account management strategies. I also shared the NPS results with the internal team, during a quarterly company meeting, as way to showcase and validate their hard work and how this resulted in satisfied customers,” Keros said.
As we all know, a company’s NPS is a good indicator of its future growth. “There is a definite correlation of NPS to Revenue Growth and the higher a Company’s NPS Score the larger the Company’s revenue growth rate,” Caroline Keros stated.
Contact Caroline via LinkedIn or Career WebFolio©
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