Customer Success. At this company, customer success reps are specialized by industry so that they can speak the customer’s language and develop some real domain expertise the customer appreciates. Additionally, CS reps are not given a certain number of accounts, rather they’re given a certain amount of MRR to manage, because MRR tends to correlate with client neediness (larger accounts require more attention). Performance of the CS team overall is monitored, but it’s also monitored down to the representative level — CS reps are expected to have no more than 2% gross churn each quarter. Finally, CS reps touch their clients a lot: for the largest customers, contact is weekly. For the smallest customers, contact is monthly. Depending on the size of the customer there may also be comprehensive quarterly, semi-annual, or annual reviews with the client.
Onboarding. Onboarding is done over 60 days and customers are given as many trainings as needed during that time. Onboarding is not looked at as a source of revenue, rather it’s to get the customer comfortable with the product. Data is critical early on and if the data shows a client isn’t using the product as much as expected, additional training will be offered proactively through the first 30 days. At day 30, there is a progress check to make sure the customer is adopting. From week 5 to 8, there is a once a week check in. At day 60, things will become more customer success focused and touch will be based on size of client.
Patents. The company does have some patents, but they’re not wasting resources and money trying to enforce them. Rather they got the patents so that an acquirer will find the business more attractive because the acquirer can then go out and enforce the patents against competitors.
Sammy is the Managing Partner and Co-Founder of Blossom Street Ventures. Visit us at blossomstreetventures.com and email directly at firstname.lastname@example.org://blossomstreetventures.com/metrics/