Crucial Customer Success Statistics and Trends to Know in 2024

customer success statistics

The customer success department is responsible for creating a strategic approach with a focus on cultivating mutually beneficial relationships between the business and its customers.

In order to be able to provide an exceptional experience to each customer and grow a base of loyal customers, businesses must strive to understand and optimize their customer success efforts. This is precisely where relevant customer success statistics can help, as they provide valuable insights into important trends and benchmarks.

In this article, we will further explore 15 statistics on customer onboarding and their trends and explain their role in enhancing customer retention, satisfaction, and overall business success and growth.

Top 10 Customer Success Statistics in 2024: Overview

Customer success is crucial to cultivating strong relationships with existing customers and improving the customer retention rate. With the emergence of multiple high-edge customer success platforms like Akita that can simplify and speed up various customer success tasks, SaaS companies have a chance to automate workflows, analyze and monitor customer data, and create effective strategies for successful onboarding and retention. 

Now, let’s see the top customer success statistics that prove that investing in the customer success department could potentially improve revenue growth, decrease the customer churn rate, improve customer loyalty and attract new customers:

  1. 67% of customers expect a good customer experience.
    • (Salesforce)
  2. 74% of customers who had positive experiences will continue to use the service.
    • (Webinar care)
  3. Just 7% of companies track their Customer Health Scores.
    • (Super office)
  4. By fostering an emotional connection with clients, SaaS companies can exceed their competitors’ sales by 85%.
    • (Forbes)
  5. More than 72% of companies perceive enhancing customer success as their top priority.
    • (Forrester)
  6. Just 37% of companies don’t have a clearly defined customer success strategy.
    • (Survey Sparrow)
  7. If customer service is poor, 58% of customers would switch to a competitor.
    • (Microsoft)
  8. 34% of customer success teams stated that not having the right tools is a challenge to their growth.
    • (Totango)
  9. 66% of CSMs stated that they spend too much time on repetitive administrative tasks.
    • (Vitally)
  10. 55% of users stated that they returned a product because they didn’t know how to use it.
    • (Wyzowl)

Customer Success Stats You Should Know in 2024

Customer success stats and customer success reports can both help SaaS companies get valuable insights into current standards and trends in customer success and industry. Achieving customer success growth in SaaS involves improving processes and outcomes related to customer retention and satisfaction, and one of the surest ways to accomplish the given objectives is to get all the valuable information related to customer success you can.

In the following lines, we will thoroughly explain some of the aforementioned customer success stats and add customer churn statistics as a bonus!

74% of clients who had a positive experience will likely continue using the service for at least a year.

Customer experience is critically important in SaaS. Satisfied customers are more likely to renew their subscriptions, which means that by ensuring them a positive customer experience, you can directly improve customer retention. Some of the essential customer success trends related to the customer experience include guided onboarding, tailored communication, the adoption of customer success platforms, and customer segmentation. With Akita, you can segment your customers into cohorts based on any trait you find important, monitor their health score, include automated triggers for accounts that need some extra care, and craft customer success strategies that fit every customer’s needs based on precise and valuable customer data.

34% of customer success teams said a “lack of tools” posed a challenge to their growth.

 Customer success tools can be crucial in SaaS as they successfully streamline processes, provide valuable insights, enhance and facilitate communication, and allow you to assess the effectiveness of customer success strategies as you go.

66% of CSMs stated that they spend a significant amount of time on repetitive admin tasks.

This is one of numerous customer success stats that suggest and prove that automating certain customer success processes will save a CS team a ton of time and energy and allow them to focus on finding strategic solutions to improve customer experiences.

Only 7% of companies actively track their customer health scores.

This disappointing statistic shows that we are not even close to utilizing all the benefits of customer success tools. Tracking customer health scores provides a proactive and comprehensive approach to managing relationships. It helps you identify issues at the earliest stage, predict the risk of churn, prioritize customers based on their health score, segment customers based on their health status, and many, many more. Akita is one of the rare customer success platforms that comes with a Customer Health Score, where you can specify the components of the score, create separate health scores for accounts, contacts, and any segment, and identify at-risk customers based on their specific scores.

67% of customer churn is preventable if the issue was resolved during the first engagement.

(Kolsky); customer churn is, unfortunately, an integrated part of any business, but finding efficient ways to reduce it is crucial for any serious SaaS business. If you manage to provide excellent customer support and enhance the customer experience at every step of the customer journey, you can surely manage to do so.

Companies that foster an emotional connection with clients exceed their rivals’ sales growth by 85%. In terms of earnings, a 2% increase in client retention is equivalent to a 10% cost reduction.

Every customer likes to feel special; that’s a fact. Understanding customer demands and making sure to answer them is a great start, but to build a truly meaningful customer relationship that can last for years, you must reward their loyalty and listen to them actively. 

67% of customers state they have a high standard for good experiences, now more than ever.

“Now more than ever” makes a lot of sense, since nowadays, a lot of processes can be automated and therefore facilitated for both the customers and your team. For example, you can adapt your approach to each customer by performing customer segmentation and never failing to deliver what’s promised and expected from each cohort. 

More than 72% of firms, according to Forrester research, feel that enhancing customer success would be their top goal.

Customer success focuses on maintaining healthy and strong customer relationships, which leads to improved customer satisfaction and, ultimately, retention. Retaining existing customers who are responsible for recurring revenue is always a good idea, isn’t it? This is why investing in customer success efforts comes naturally to most businesses. 

37% of the companies don’t have a clearly defined CS strategy.

The statistic that only 37% of companies don’t have a clearly defined customer success strategy is actually quite confusing, as that means that the given percentage is still stuck with generic manuals and guided tours rather than creating and implementing well-thought-through strategies to success!

One study from Microsoft showed that 58% of customers would switch their service to a competitor because of poor customer service.

Customer service is the tool that can make or break your business. By having excellent customer service that can resolve any issues rapidly and proactively, you are showing your customers that you appreciate their time and trust, which is crucial.

55% of people say they’ve returned a product because they didn’t fully understand how to use it.

This only proves that every successful customer relationship starts with great customer onboarding!

Customer Success Trends in 2024

The future of customer success relies heavily on the customer success trends in 2022, 2023, 2024. The objectives will mainly remain the same: personalization, data-driven decision-making, automation, customer health monitoring, and an emphasis on customer education. Also, let’s not forget about continuous learning and training for CS teams so they can stay updated on the latest CS tools, industry trends, and best practices in CS.

Conclusion

Customer success statistics provide valuable information for businesses on a quest to improve customer satisfaction and retention. Given the fact that customer success is a key driver of customer loyalty and the foundation of a strategic roadmap towards sustainable business growth, being aware of customer success industry statistics can potentially help your CS team come up with creative solutions backed up with relevant insights

With the right customer success software like Akita and an inspired and knowledgeable team, you can expect to be satisfied with customer success reports much faster than you expect!

Resources:

Frequently Asked Questions

How does customer success contribute to business revenue in 2024

Stats for 2024 highlight how successful CS strategies can lead to upselling, the creation of brand advocates, and loyalty, all of which positively impact overall business revenue.

How does customer success impact customer satisfaction and retention in 2024?

Many customer success statistics show the correlation between effective customer success strategies and improved customer retention rates. This proves that personalized engagement and proactive support may contribute to customer loyalty!

Which tools are critical for CS teams?

Besides CRM software and customer success platforms, SaaS companies could invest in various communication and collaboration tools, customer feedback and survey tools, workflow tools, and others.

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