CUSTOMER SUCCESS MANAGEMENT MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Need for Continuous Customer Engagement

As the business landscape transforms at a rapid pace with evolving customer needs and technology disruptions, it is no longer sufficient to make a one-time sale and consider the job done. Customers now expect ongoing support, value-add solutions and a personalized experience even after purchasing a product or service. A one-size-fits-all approach will not cater to the unique requirements of each clientele. As a result, the need for continuous engagement with customers has emerged as a key business priority. Customer success management serves this need well through its focus on adopting a consultative, customer-centric mindset, and instituting performance reviews, renewal strategies, and product usage tracking mechanisms. This helps organizations sustain relationships, ensure adoption of new features, and also gain real-time insights into emerging customer pain points. With proactive engagement practices in place, businesses can deliver a top-notch post-sales experience and maximize long term customer outcomes and satisfaction levels.

In February 2020, Salesforce acquired Evergage, a personalization and customer data platform provider. This acquisition strengthens Salesforce's Marketing Cloud by adding real-time, cross-channel personalization, and machine learning capabilities. This allows businesses to deliver more relevant customer experiences throughout the entire customer journey.