Beth Worthy
3/10/2024
2023 was one of the most eventful and forgettable years for many of us! However, you can't afford to miss much while maintaining consumer connections.
As we approach 2024, make sure you're up to date on the newest customer success trends that are anticipated to emerge this year. Based on our latest research and experiences, we have compiled a list of the top customer success trends to help you stay ahead of the curve.
According to last year's customer success (CS) trends, it was expected that CS teams would increase, and employees needed for such jobs would be in great demand.
However, nobody could have predicted how many customer success manager jobs would be available.
In August, the CS world was caught aback by the revelation that IBM and its subsidiaries would be hiring 700 customer success managers by the end of the year. Companies that don't have customer success programs will be left hanging.
CS teams will optimize their playbooks to be even more customer-focused due to the new and intriguing data. Gone are the days when you had no idea how your consumers used your goods.
As is the slogan of customer success, there will be a renewed focus on customer data in 2024, going as far as feasible to identify typical habits and act proactively to assist them.
Digital Transformation (DX) is on the rise, with forecasts putting the DX industry at $1.2 trillion by 2026. There’s a huge rush to incorporate new and interesting SaaS into customer success workflows which will put the data from CS into overdrive.
More useful, actionable, and accessible - the quality of insights obtained by CSMs will be the differentiating element in the SaaS world of 2024.
Onboarding has always been the responsibility of the CSM, and it will always be an area for development for the whole department.
According to a poll of 113 customer onboarding and implementation specialists, the focus for 2024 will be on:
In contrast, offboarding is gradually becoming as vital as onboarding in some cases, if not more so. With our first-hand experience, we have found the perfect offboarding:
It's no wonder that video calls for customer service are becoming more popular. After the pandemic, an increasing number of clients have begun to accept video conversations as a standard mode of communication.
There was a 500% rise in video chats with consumers in the banking industry between March and May 2020 and a 365% increase in B2B account management video calls.
All that remains for CS managers and their departments is to catch up and emphasize video interactions over phone calls, chats, or emails. This has also increased the use of professional video Transcription services.
See Also: Why Should You Get Your Zoom Conference Calls Transcribed?
As the number of customer success teams, procedures, and activities increase, so will the money spent on them.
This will affect resource allocation for the overall department when CFOs would learn how to better divide the budget based on how the CS departments used their money during the previous year.
Customer satisfaction boosts retention and loyalty. The financial worth of client retention and loyalty over acquisition has been demonstrated multiple times from several perspectives:
The more CEOs who grasp these tried-and-true figures, the more spending for customer success will increase.
AI is infiltrating every industry in some manner. It is required because the amount of data that must now be shifted through is inhumane.
The latest AI-powered customer software apps can analyze thousands of data points, going beyond user behavior, CSM’s activities, and customers engagement, and understand the key actions and behaviors that companies can take to retain customers.
All of the trends highlighted up to this point are somehow related to customer success statistics. This emphasizes the importance of effective CS metric trackers and meaningful customer health scores.
Customer success dashboards with configurable KPIs and layouts might be the difference between a SaaS that survives and one that flourishes.
See Also: 7 Tips to Run Virtual Meetings More Efficiently
With SaaS customer attrition on the rise and 67% of customers admitting to having high expectations for outstanding customer experience, it appears that those without a strong customer success effort will struggle in 2024 and beyond.
So, unless you currently have a well-defined CS department, you need more effort to establish one.
The last several years have taught us that challenges we've never experienced before may and will continue to come up!
One of the major difficulties with these automated help systems that we've recently discovered is that they only understand what they’re already aware of. It won't understand how to tackle a completely new problem.
Even as technology for automated solutions advances, a Forbes survey from 2019 indicated that 86% of customers prefer chatting with a live person.
As we delve into 2024 further, we may require even more human assistance with so much uncertainty.
Customer success is rapidly expanding, and your firm should be prepared to adapt and develop.
The Customer Success trends indicate the rise of artificial intelligence (AI) and automation for better efficiency. They also demonstrate how customer-focused organizations are becoming.
They are concentrating on the value component and the development of strong relationships and communities. 2024 will be a tremendous year, and we hope you contribute as much as possible to it!
