written by Jay Ackerman
All too often, customer/vendor relationships are anchored around two milestones in the customer lifecycle: the initial sale and renewal sale. Typically, these two points in time experience the greatest, if not only, customer outreach and engagement. With the rise of the Cloud and Subscription Economy, it’s easier than ever for customers to switch providers at a moment’s notice. As such, the one-time sales approach is now replaced with a value-driven approach anchored in customer lifetime value (CLV). Today, customers only want to pay for what they use, and they only use what is considered to be of value.
Rather than focusing on points where the money is made – initial sale and renewal – vendors should take a “pay it forward” approach to customer success across the customer life cycle. Continue reading