7-AFTEL- Customer Success Development Strategy

7-AFTEL- Customer Success Development Strategy. Written and Researched By: Nizamuddine Muslih Email: n.muslih@afghantelecom.af nizam.muslih@gmail.com Contact: +93708131411 /+93744416275.

AFTEL- Customer Success Development Strategy. To satisfy the AFTEL Customers success is one of the more misunderstood concepts in marketing and sales. Like “anger” or “delight,” it isn’t something that you can quantify, and it most definitely isn’t a metric. But it is something that AFTEL can illustrate using very precise methodologies. Here talking about customer success key performance indicators (KPIs) . These are hard numbers that, like a fine-tipped paint-brush, can help you achieve a full and detailed portrait of seven things:.

1: Churn Rate. To determine how many clients you've lost in a certain period of time, use the concept of customer churn. A churn rate of 1% means that if you have 500 clients at the beginning of the month and lose 5 of them, you have lost 5% of those customers. We can't tell you whether this is good or bad because we don't know what your industry's average churn rate is. Do not include new customers acquired during the time period in the churn rate calculation (unless those customers churn within the period). You can use the churn rate to see how long your customers stay with your company. In other words, it's not meant to show whether or not you're gaining more customers than you're losing..

Continue… Also keep in mind that there are two ways to look at customer churn rate:.

2: Recurring Monthly Income (RMI). The critical performance indicator of monthly recurring revenue is how much money you can expect to make each month. If you're in the SaaS or subscription-based business, this KPI is very useful for letting you know if your clients like what you're selling. The higher your MMR month over month, the more customers you're gaining than you're losing. It's not uncommon for a customer success team to keep its churn rate lower than its rate of new client acquisition in order to achieve this result..

Continued …. Customers (new and old) are spending less money, which could be a sign that you're not providing them with the results they expect from your business. Multiply the total number of active customers by the average revenue per customer to get the MRR number. Expansion MMR can also be used to determine the revenue generated by one-time purchases, such as an upsell or an add-on. Expansion MMR tells you if clients are satisfied enough with your service to justify investing additional money on top of their regular monthly subscription fee..

3. Customer Satisfaction Index ( NSI). How likely are your customers to recommend your service to someone else? Net Promoter Score answers this question. To calculate Net Promoter Score, you first have to collect the data to the question, “On a scale of 1 to 10, how likely are you to recommend this product or service?” Use a form tool such as Survey Monkey, Jot Forms or Google Forms to help you create a rating scale response of 1-10. We also recommend including a space for an open-ended explanation for their rating. Once you’ve distributed your survey and collected the feedback, you can start analyzing the results. The scoring ranges are as follows: 0-6: Detractors. 7-8: Passives. 9-10: Promoters. From there, subtract the percent of detractors from the percent of promoters..

Continued …. Take, for example, a sample of 100 respondents, of which 60 are proponents, 30 supporter passives, and 10 critics. In this scenario, you would have 60% promoters, 30% passives, and 10% detractors. The NPS drops from 60 to 50 when you take away the ten percent score reduction factor (NPSDR). The higher your NPS, the more likely your customers are to recommend your company to their friends and colleagues. Your brand's success is evident by the fact that your customers are happy with your product or service. Surely you wouldn't recommend a product that doesn't perform. Open-ended responses from NPS surveys or any customer survey can provide actionable insights into what you can do differently to ensure future customer success..

4: A positive experience for the client (CS). NPS is similar to a customer satisfaction score. The only difference is that this KPI better reflects customer satisfaction. Customer satisfaction data is best collected by incorporating surveys into your product or service delivery, just like the Net Promoter Score (NPS). For example, you may ask customers to rate their satisfaction with your brand following each customer service interaction. You can also ask customers to rate their experience at the end of each scope of work, contract or shortly before renewal. You can also ask customers to rate their experience.For example, you can use multiple choice responses (e.g. "Rate your experience on a scale of 1 to 10"). (e.g., 1-2 being bad, 3 being satisfactory, 4-5 being great)..

Just figure out how many of your responses are positive and divide that number by 100 to get your CSAT score. You get the most out of a customer satisfaction score when you give customers a reason to explain their rating. You can't tell if your customer success is suffering from a lack of quantitative customer success metrics, for example. For reporting purposes, however, customer satisfaction (CSAT) is a valuable metric..

Renewal rate is the best metric for measuring customer loyalty, especially for B2B service providers like SaaS. Simply divide the number of customers who renew by the number of customers who are up for renewal in a given period of time to get the renewal rate.. Then, multiply that result by 100 to obtain a percentage representation of your renewal rate. The fact that a high percentage of your customers renew their contracts or service agreements indicates that they have had a positive experience working with your company..

But it’s important to weigh renewal rate against other factors such as MRR. Just because a high percentage of your customers are renewing, doesn’t necessarily mean they’re spending as much money or even more . Conversely, if 1 of 3 customers cancels, but the other customers renew at a higher price, you may actually end up with a higher revenue renewal rate, even if your customer renewal rate is down period-over-period..

A high CSAT, NPS, MRR, renewal rate and churn rate can be achieved at a high cost to your company. The cost of customer retention will give you an idea of how cost-effectively you're achieving customer success.. It's a lot of work to calculate customer retention. When calculating the cost of your customer success program, you must first take into account all of the costs associated with that program (month, quarter or year). The customer success costs are then divided by the total number of customers during that time period..

The goal is to figure out how much money you’re spending on each customer in your attempt to retain them. Example: $50,000 spent over one year / 100 customers = $500 per customer to retain them per year. The best way to think of customer retention cost is as a relative metric. Focus on period-over-period improvements in retention cost . One period’s worth of customer retention cost is just data . Comparing customer retention cost against specific customer success initiatives over time, on the other hand, is actionable information..

Is your company's average customer worth the money they bring in for you over the course of their entire relationship with you? When you know how much your typical customers are worth over time, you can better determine how much you should invest in them. CLV can be calculated by multiplying the average purchase price by the average frequency of purchases. Once you have that number, multiply it by the average life span of a customer relationship. For instance, say your average customer spends $1,000 twice per year and they typically remain a customer for 3 years. The equation would look like this: 2 x 1,000 x 3 = $6,000..

In order to arrive at net revenue, you can deduct the cost of customer retention from CLV. Customer retention costs can be calculated by multiplying the average lifespan of a customer by $500 per year. Then subtracting that amount from $6,000 is a simple calculation. It would be $6,500 – $1,500, or $4,500 in this case. CLV, like other customer success metrics, is a relative metric that only makes sense when viewed in relation to other metrics. Making smart investments in customer success should be your ultimate goal if you want to see an increase in your CLV over time..

The goal of KPIs is to keep tabs on the company's progress and spot areas for improvement in the way customers are treated. They're not meant to be a determinant of your success or failure. There are a number of metrics you should be tracking, interpreting, and creating an actionable picture of your customer success program. Hopefully, you'll be left with a more upbeat portrait than Domestic Networks Regardless of the outcome, you'll have gained some knowledge..

With so much competition in the telecommunications industry today, it's imperative that you focus on providing excellent service to your customers if you want to be successful. To improve customer experience, the telecom industry is in third place, according to a 2017 Forrester report. In addition to emphasizing the importance of customer service, the report recommends that telecommunications companies focus on improving the worst customer experiences rather than refining the best. We've outlined five ways that telecoms can improve customer satisfaction and loyalty in the following sections:.

The first step is to get to know your customers. Consumers' expectations have risen as OTT service providers offer innovative digital content and services at lower prices. Is there any way you can turn this around in your favor? It's as simple as knowing what your customers want and delivering on that promise. According to a survey conducted in 2013, customers had the following expectations of telecommunications providers: A more user-friendly way to communicate with your service provider is preferred by 50% of telecom customers who feel lost when dealing with automated service systems. Approximately 35 percent of customers prefer to communicate with a personable and empathetic associate. Customer service representatives who repeatedly say things like "your call is important to us" or "that's our policy" to customers are known to irritate them..