Making customer success a growth engine with data
A powerful strategy in today’s digital and data world is putting customer data at the centre of business operations.
For native SaaS businesses, it should be a fundamental part of daily business operations. For other organisations, the ability to use this data often arises from digital transformation initiatives. Typically the end goal is to use customer data to drive growth. Customer data together with innate industry expertise offer organisations the ability to anticipate the needs of the customer.
Once anticipating the customer’s needs, this offers the business a route to develop intelligent products and services with frictionless growth. As a data-driven partner, this gives the business the ability to quickly understand what they want and when they want it – often before they have articulated it.
Utilising data science to build predictive behaviour models is a necessity as many organisations must now care for customers in near real-time. These models are a key method, particularly in SaaS to encourage additional and more complete product usage, while reducing customer churn. Retention is at the heart of all subscription models whether they be from purveyors of cars, groceries, or pet food, they all use customer data in the same way to drive retention. In these economic times and with increasing uncertainties, customer retention becomes a priority for businesses of all types.
It has always been a challenge to ensure customers receive the desired levels of care when marketing, pre-sales, sales, customer care, and the helpdesk can all play a part in the experience. It is not enough to work in a silo, it is essential that all parts of the business are geared towards delighting, retaining, growing, and attracting customers to give the right customer experience. One responsible lead can plot a seamless path through the usual business functions to make a harmonious whole out of the departmental parts.
Overcoming cultural inertia can be a barrier but is worth breaking through. It all comes back to data; using it business cases are proven, goals are shown to be reasonable, and new experiments can be undertaken. This data-first approach does not need to preclude creativity but should enable it. Creativity can be harnessed in the right direction with a data-led goal and a data-tested plan. Data does not replace the personal touch, but supports people in finding the right direction, and provides a guide with guardrails for action.
A strong leader with a clear roadmap, armed with data, is central to this strategic vision, which is why a Chief Customer Officer (CCO) is a growing role.
