After becoming a customer for the first time in my career, I could see the chasm that exists between technology vendors and their customers. It is what motivated me to start my first company. Since then I have worked with over 60 technology companies, helping them with strategy all the way down to team member execution. And the unique challenges and variability that I see many teams struggle with were replaced with similarities and simplicity. The idea of a framework to help companies overcome their challenges became clearer.
In many other parts of our companies, we rely on frameworks like inbound and account-based marketing, the Sandler system, challenger and consultative selling for sales, and Agile Scrum methodologies for product teams. However, we lack a similar framework for the post-sale customer experience. That’s where CXology comes in. CXology is a unique learning platform that teaches a first-of-its-kind post-sale customer experience framework, known as Strategic Customer Success (SCS), which engages companies in a continuous dialogue with their customers. This framework focuses on the areas that have the most significant business impact in real-time.
SCS unlocks the potential of your post-sale customer experience by identifying 15 key inflection points that customers go through. Doing so allows companies to optimize their approach and create shared knowledge and skills among experienced and new team members. SCS teaches your team proven techniques to build strong customer relationships, proactively mitigate risks, and increase efficiency, enabling your company to do more.
If we only keep a customer for 1 year our profit margin is 10% or less for most companies. If we keep them for 2 years that margin increases to 50% or more. If we keep them for 8 years, we are easily at a 90% plus margin without additional growth. But the magic happens when we grow from within as Net Revenue Retention (NRR) compounds over time. Two companies on the same growth trajectory over the same time period can be more than $100 million in annual revenue apart. But it is more than dollars. Strong customer advocates make selling easier likely accelerating your growth and lowering the cost of acquisition (CAC). Your team is likely engaged at a much higher level helping with retention and lowering recruiting costs. And the surprises and escalations that can derail a week or even a month are reduced to nothing burgers.
If you would like to understand more about the financial benefits of SCS, take a look at the interactive ROI calculator.