In today's competitive business landscape, customer success is more important than ever. According to a survey by Groove, companies that prioritize customer success see a 96% retention rate, compared to just 38% for companies that don't. This highlights the importance of customer success in driving retention and growth for businesses.
But what exactly is customer success? Simply put, customer success refers to the efforts a company makes to ensure that its customers are successful in achieving their goals with the company's products or services. This might include providing training, support, and resources to help customers get the most value out of the product.
Investing in customer success can have a number of benefits for businesses. In addition to increased retention, companies that prioritize customer success often see higher customer lifetime value (CLV) and increased customer loyalty. Customer success can also lead to increased word-of-mouth marketing, as satisfied customers are more likely to recommend a company to others.
In short, customer success is essential for the success of any modern business. By prioritizing customer success, companies can drive retention, increase CLV, and foster customer loyalty. Go to involve.ai to learn more or to set up a time to talk with us.