The Increasing Importance of Customer Success Managers

In SaaS companies, customer success managers hold the future of the business in their hands.

Adoption is still a major responsibility for people in this role, but 70% of teams also share responsibility for customer retention and growth.  Customer retention is essential:

• Retaining current customers is 25X less expensive than acquiring new ones
• A 5% increase in retention results in a 25%-95% increase in profits
• Current customers are 50% more likely to purchase new products and services

Customer success managers spend at least half of their day communicating with customers and internal teams. Persuading customers to innovate, coaching customers to use their solutions differently, resolving issues, and advocating internally for customers – these aren’t easy conversations. The job isn’t getting easier either: SaaS customer churn is rising, and customers expect high standards with their business relationship and experience. Customer success managers need top-notch interpersonal skills to succeed.

Intrigued? Do you want to learn more about how CSMs hold the keys to account retention and growth? Download CharismaQ’s new position paper Your Customer Success Managers: The New Heroes of Modern Business