“What the $%&# is a CSM… and how is that going to make me money?!”
When I started out in business nearly 20 years ago, there was no such thing as a CSM.
Those 3 letters just didn’t go together.
A CSM is a Customer Success Manager.
It’s not a glorified support person (like I once thought) and yes, they absolutely make you more money.
Having a great CSM on your team will boost your revenue.
I believe that for every $1 you spend on a CSM, you should be getting $5x back in retention/expansion revenue.
Funnel hackers would lose their minds over a funnel that converts 1:5 consistently, long-term…
…and yet CSM’s get dismissed by young businesses as an unnecessary cost.
I’m going to put an end to that mistaken belief in this week’s video, and I’ll open your mind to what a CSM should be doing in your business and why they are a godsend.
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After you watch this video, you’re going to understand how a great CSM can:
- Track your customer satisfaction with easy-to-follow metrics
- Help your customers fall in love with your products
- Reduce churn and improve customer retention
- Increase lifetime value with upgraded accounts and upsells
- Collect testimonials, case studies and referrals
- Explode your word-of-mouth marketing
- Feed product development and innovation
I mean… just look at that list!
This is one person you can hire in your business that can do all of the above… if you know how to work with them.
I’ve said it before and I’ll say it again: You can’t just hire someone and expect them to solve your problems without your guidance.
CSMs are a godsend, but you’ve got to work with them to build systems so that they can do what they do best.
Watch the video and I’ll set you straight on how to work with a CSM in your business.
While you’re there, drop me a comment to let me know:
As a customer, what was the best interaction you had with a company and why?
I’ll bet there was a CSM behind it.
Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. (Get access to all my latest business hacks.) He previously created, raised venture funding for and successfully exited three tech companies: Spheric, Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.
Originally published at https://www.danmartell.com on August 3, 2020.