A 2019 global risk management survey by AON (registration required) noted that banks, government agencies, healthcare, insurance and tech industries all consider cyberattacks and data breaches the No. 1 risk they face. In 2018, the average cost of a data breach was $3.86 million—a number that grew to $4.24 million in 2021.
Providing a personalized customer experience at scale is hard. In an era where customers can buy your services instantaneously and goods globally, personalization is increasingly difficult. There is no one-size-fits-all solution, but there are ways to simplify your approach. Here’s how:
The Center for Creative Leadership describes “coaching culture” as a culture that applies a coaching mindset to the entire organization. A coaching mindset influences and filters through all interactions, including how managers give feedback to their employees, how employees engage with one another and how your whole team interacts with clients.
Imagine you’re in a departmental meeting, and a person from your customer success department is speaking about “NRR,” “NPR,” “CHS,” “churn” — and you stopped listening five minutes ago after struggling to make sense of what your company’s customer relations manager is talking about. You’ve heard that they’ve managed to turn the business around, but how?
How do you sell a solution to a perceived problem? How do you convince an organizational leader that you have the product that they need to grow the business and make them a hero in the story? That’s what customer success is all about. But it can be challenging when the consumers are empowered with multiple subscription options that allow them to say “no” well before they match the lifetime value benchmarks.
In his book The Art of Saying NO, Damon Zahariades writes that saying no is one of the most powerful skills you can develop as a business leader. So then why is it so hard to put into action? Vanessa Bohns, a professor of organizational behavior at Cornell University, explains that our need to connect with others is instinctive, you could even say primal. We know that we need each other to thrive in life and the idea of a disapproving tribe can be a terrifying prospect.
Investing in Customer Success will result in better customer conversations, stronger customer relationships and higher net revenue retention.
Growth Molecules now offers CSA accredited courses. Are you investing in your customer success and support team training?
“We brought in Growth Molecules for executive coaching, and to help our team build scalable processes across our customer segments, an investment that paid off immediately. Our team is applying the new frameworks they learned to real-life scenarios with a revived sense of purpose and intentionality.”