CASE STUDY • Critical Mention
The Impact of Churnzero, and a Clear, Simple Focus on Retention
Steve Shannon is the SVP of Sales and Marketing at Critical Mention, the leading global media monitoring platform, and they had plans for a big-growth year. During the year-end planning, Steve and his team placed a sharp focus on their retention efforts. With a large customer base, Steve understood the power of retention and that every point of renewal improvement would take the pressure off the entire company to meet aggressive growth goals. He invested in ChurnZero and worked with his team to take steps to fight churn.
5%
improvement in overall retention rate
An even bigger
improvement with year 1 customers
20x
ROI
“We combined old fashioned process and discipline with analytics and automation to improve our retention five percent”
Steve Shannon, SVP of Sales and Marketing | Critical Mention
The Challenge
The Critical Mention Customer Success/ Account Management team experienced the following challenges:
A talented but young staff that needed direction, data, and processes
Slow visibility into customer engagement
An approach to servicing customers that was to reactive
Mistaking “happy” for “healthy.” Customers may be happy with the CSM and the company, but may not be getting the value they seek from the product.
The Process
Critical Mention partnered with ChurnZero for its Customer Success platform and did the following:
Established more defined processes: more regular Business Reviews with customers and monthly internal account reviews.
Created finer segmentation that led to targeted strategies. There was a specific focus on Year 1 customers and customers with a larger deal size. The Year 1 customer focus has led to significant improvement and will have a large and lasting impact.
Established regular internal account reviews and added objective metrics (such as health scores) to the conversation.
Used targeted communication and automation to drive feature adoption.
The Impact
In the first nine months, Critical Mention has seen:
5% improvement in overall retention rate
An even bigger improvement with Year 1 customers
20x ROI, their out-of-pocket investments include content updates and ChurnZero
The Impact of ChurnZero and a Clear, Simple Focus on Retention
How you can start
To find out how you can create a proactive customer health program to reduce churn risk, schedule your demo of ChurnZero today.