This article is based on a presentation given by Nick at the virtual Customer Success Festival, in March 2023.
Unlock the secrets to boosting customer lifetime value (CLV) and discover proven strategies for skyrocketing retention, renewals, and expansion rates. Are you ready to gain valuable insights on optimizing the customer journey? Then read on...
I’m Nick Chang, VP of Global Customer Success at Aryaka, a $110M annual recurring revenue cybersecurity and unified SASE (secure access service edge) company. We pride ourselves in providing services like SD-WAN, SASE security, and last-mile services to our enterprise customers.
In this article, I’m going to equip you with practical tips on how to enhance customer lifetime value through effective retention, renewals, and expansion strategies. While the best practices I'll share may not apply universally across all industries, I'm confident that they will offer valuable insights for your business.
We’ll explore three main areas:
- The customer journey: A snapshot of what a typical customer journey entails.
- Roles and responsibilities: Here I’ll clarify who exactly participates during this journey process, ensuring a common understanding of the terminology before we delve into the nitty-gritty.
- Step-by-step guide: This part is a detailed explanation of how to ensure the retention and renewals transpire seamlessly at the end of the contract.
To wrap up, I'll share some final thoughts based on my wealth of experience in this sector. I hope you find this guide extremely useful. So, without further ado – let’s dive in.