A business can benefit from a Customer Success Manager in several ways:
- Expanding revenue
- Preserving revenue
- New sources of revenue
- Research and development
In fact, increasing customer retention rates by just 5% can increase profits by between 25% and 95%.
“In the oversaturated SaaS market, where it is inexpensive to create and maintain a product and customers enter at a low cost of entry for only a month-at-a-time commitment, the Customer Success Manager dictates whether every dollar stays and grows or leaves and dies,” explains Jeff Heckler, Customer Success Team Lead at Pipedrive.
If your customer service manager is doing their job well, they will be creating loyal, long-term customers instead of one-time buyers. Therefore, it’s important that your CSM keeps track of all contract expiration and renewal dates and follows up with customers for repeat business.
Read our article to discover exactly what Customer Success Managers can bring to your business, the average salary and how to start your recruitment search
What main benefit would a customer success manager bring to your business?