February 2021 Newsletter
Customer Retention Matters...A Lot
The February Infinipoint newsletter focuses on the top-line and bottom-line benefits of mastering customer retention. The reason I obsess about “retention” at Infinipoint is that it’s the common denominator for winning at almost any stage of your company’s growth. Earlier stage companies need to master customer retention to drive top-line growth. At scale, mastering customer retention unlocks improved margins as well.
The means to master retention vary--customer success, sales, product councils, retention marketing campaigns, and more. The path may require re-tooling strategy, structure, process, human capital, and more. But a focus on customer retention is a focus on the right outcomes.
I hope your year is off to a flying start!
2 Minute Take: Retention is Your #1 Growth and Profitability Driver
Some call it magic, others call it leverage. No matter how you address the importance of customer retention one thing is clear--driving both growth and profitability from the same source is a powerful lever. Make sure you’re getting the most out of it.
Feature Article: The Roles of Customer Success in CX
Success only owns a portion of the Customer Experience. Knowing when to own, when to influence, and when to simply handle customer interactions helps Customer Success leaders optimize their unique position in the organization. Read the full article here
As a customer success leader, you likely feel strong ownership of the customer experience and its outcomes. That’s why it’s so painful when you do everything in your power to help customers thrive only to see disappointing results in sentiment or retention. You can go back to the drawing board–improve analytics, update playbooks, adjust team member incentives–but there’s also an inconvenient truth to address…
News, Events, and Good Stuff
Plenty of ideas and resources to highlight this month. These recommendations aren’t exhaustive but include a range of my recent favorites.
Customer Trust in B2B - I was going to write this article...but AJ at The Orthogonal already did a better job than I would. It’s an essential topic to understand and act upon. This quick read gives you a leg up on both the Why and the How.
What’s a Renewal Manager? - Among many gems on the SmartKarrot blog are several discussions of the roles within, and adjacent to, Customer Success. I think the ideal location for owning renewals is fluid base on your org, teams, and other factors--but SmartKarrot nails the skills needed to ace this role, regardless of where it sits.
Let’s Talk About Meetings - The body of effective meetings literature is extensive. I’m hosting a 3-hour zoom this week to discuss it. (#kidding). I appreciate how this article helps me focus on the crucial first five minutes to launch a great--and efficient-- meeting.
The Jasons Take On (TJTO) Podcast - I like the diversity of guests that Jason and Jason pull from when discussing Customer Success. Beyond leading a good discussion, they also share their own experiences--giving many episodes the feel of chatting with colleagues over drinks or coffee. I’m partial to Episode 16...but I’m biased. :)
The volume of content out there on customer success, client services, and retention can feel overwhelming. One of my early mentors gave me the following advice - dedicate just 10 minutes each morning to reading articles or viewing presentations, and use each Friday to explore a new resource. You can always do more. I still use this guidance and find it helps me bump into more interesting ideas than I’d otherwise see. I hope it helps you too. Onward!
If you have suggestions or requests for future newsletter content--2 Minute Take, Articles, Case Studies, or Events & Announcements, contact me at firstname.lastname@example.org, and let’s get the ball rolling.