MarketStar Blog | Articles (23)

The old saying, “Build a better mousetrap and the world will beat a path to your door” was never more wrong than it is today. Gone are the days when you could build a great product and hope to have customers flock to you by sheer word of mouth. In this crowded marketplace, you need to find ways to put your product into the hands of users; the more the merrier. Channel partners could play a vital role here. 

The rise of the subscription-based economy has fundamentally changed the way businesses operate. Customers today prefer access over ownership, opting for on-demand services rather than committing to long-term product ownership. This shift places the burden of ongoing value delivery on businesses—customers will only renew subscriptions if they consistently see value. In this landscape, customer retention is more critical than ever, and tracking customer health is essential for ensuring long-term success. 

At a time when 97% of global consumers1 say that customer service is somewhat important or very important in their choice of and loyalty to a brand, you can’t afford to overlook this aspect of your business. Many businesses recognize this and, upon evaluating their customer service practices, realize that their current approach falls short of meeting ever-rising consumer expectations.

Customer Success is quickly becoming the Holy Grail for all companies with a subscription-based revenue model. It’s not surprising, since Customer Success done correctly can massively expand conversions and renewals, reduce churn, increase customer satisfaction and advocacy, and greatly increase revenue.