A world before the pandemic seems like the distant past, doesn’t it?
The onset of the pandemic has seen a dramatic shift in most areas of life, including the workspace, and life may never go back to what it once was. It’s almost unbelievable how much transformation each business has gone through in the 2 years.
But wait, the transformation doesn’t end here.
Now that we’ve gotten used to the new virtual business solutions, with hybrid and work-from-home solutions, it’s time for them to become even more efficient.
With over 90% of companies having a dedicated CS role, it’s evident that businesses worldwide have evolved to integrate both the Corporate Success culture into their business endeavours and employees.
Here are our top 5 Customer Success trends for 2022 to help you make sense of the future’s changes and get the best out of your business.
Growing Customer Success teams
Up, up and away. Customer Success teams are gaining popularity in companies where they previously did not exist. Customer success teams have faced pressure to continue offering value despite trimming product and service budgets.
So, if the current trajectory is any indication, we shouldn’t anticipate it to slow down in 2022.
Increasing focus on advocacy and expansion
According to a Totango report, that’s presumably why 91% of CS professionals said their team had grown in the previous year. In the same study, 76% stated that their team currently comprises more than 10 people.
Although focusing on expansions was always a vital component of customer success, it will become even more significant. Companies are reimagining the customer experience to stress the cohesion between the pre-sale and post-sale expertise and how good customer retention lays the groundwork for customer advocacy and acquiring new prospects.
When a consumer recognizes the value of a product, they would want to continue to expand that value by purchasing additional items and becoming loyal repeat purchasers who advocate for the brand, hence boosting overall revenue for the business.
Increased focus on customer onboarding
How successfully you onboard a new customer impacts their overall experience with a product, particularly in the early stages. If we don’t get the onboarding process right, it will impact our capacity to expand and generate advocates.
Customer success may be entrusted with ensuring that everything runs correctly, but they do not define the ground rules for the customer experience.
The sales and Customer Success team must have a co-dependent relationship. Because the sales team over-promises at the deal-closing stage, customer success will have a mountain to climb during the onboarding process. The discussion door between the two must remain firmly open so that both teams have a complete awareness of the other’s capabilities.
Smarter integrations will be available with DX
The rush to incorporate new and interesting SaaS into customer success workflows is on, and this will put the data from CS into overdrive. More meaningful, actionable, and accessible – the quality of insights obtained by CSMs will be the differentiating element in the SaaS world of 2022.
Budgets for customer success will grow exponentially and globally
As the number of customer success teams, processes, and activities grows, the amount of money is spent on them. This will result in improved resource allocation for the overall department when CFOs have learned how to divide up the budget better depending on how well the CS departments used their money during the previous year.
Customer satisfaction boosts retention and loyalty. And the financial worth of customer retention and loyalty over acquisition has been demonstrated time and again from a variety of perspectives:
- Retaining customers is 25 times less expensive than acquiring new ones.
- A 5% increase in retention increases profitability by 25% to 95%.
- Existing customers are 50% more likely to purchase new items.
The more CEOs who grasp these tried-and-true figures, the more budgeting for customer success will rise.
2022 is the year of Customer Success
Customer success is increasingly growing, and your company must be ready to adapt and grow. Customer Success trends show an increase in artificial intelligence (AI) and automation to improve productivity. They also show how customer-centric firms are developing. They focus on the value component and the formation of solid connections and communities.