What Every Customer Success Manager Wants in 2024!
Christmas is already around the corner! 2023 has been an incredibly big year for Customer Success with the economic fluctuations making it more essential than ever to develop a team that supports and nurtures customer expectations.
2024 will be even bigger for Customer Success! Teams will get bigger, onboardings will become better defined, more budget will be assigned to CS, Customer Success team will be more data driven than ever … and so much more!
2024: What Lies Ahead for Customer Success Managers?
So much to do in 2024 but where to begin?
We’ve seen this quote everywhere this year: “Customer Success isn’t a department, it’s a strategy” and I think it’s a good place to start when planning for 2024.
It’s time to say goodbye to Customer Success teams being solely responsible for key metrics such as churn, activation, adoption or CSAT. Instead, this year let’s say hello to collaboration between CS and other departments. We’re hearing of teams setting up cross-functional A teams to tackle challenges such as onboarding and CX. We’re also seeing new roles such as customer success marketing and customer success ops becoming more common. Roles that while in CS also sit with other departments, increasing the collaboration.
If you need some inspiration, here are some Customer Success New Year resolutions from the Customer Success community:
- Boost revenue by closing more upsells and cross-sells
- Improve value provided to customers
- Improve collaboration with other teams and within CS team
- Build a kick-ass and data driven CS team
- Enable CS team to be proactive and strategic
- Scale processes to avoid inefficient use of time
- Train CS team, learn more, participate in more CS conversations, share learnings
Some key KPIs everyone is looking into:
- Churn: below 5% is where you want to be
- Expansion MRR (excluding revenue from new customers): Enough to offset churn and make the net MRR churn negative
- CSAT: 80% or higher
- MRR Churn: As low as possible
Customer Success leaders also have wishes of their own for 2024. Some requests to CS Santa:
- A new colleague in my team
- More advanced CS Op
- Implementation of a CS Solution
- Better visibility on Customer Health
- Better visibility on Product metrics
But the majority of Customer Success leaders WANT IT ALL!
Don’t be afraid to create a plan that is flexible. As other teams continue to change and improve so will the challenges of the CS team. Some challenges may even disappear!
Fellow Customer Success Managers, I wish you all the best setting your goals for 2024 and I hope all your wishes come true!