Happy Ears, Hidden Risks
Relationships don’t retain customers, results do.
The CS industry is under increasing pressure, with teams managing larger books of business than ever, facing a growing volume of activities, and often lacking the necessary data and reliable health scores to effectively prioritize their efforts.
The good news? The potential to transform into a revenue-growing function that impacts the wider business is huge. So what does this mean for your organization, and more importantly, what can be done to become industry-leading?
We’ve put together this report which details how the next generation of Customer Success teams will have to operate to hit big growth targets, delight customers and capitalize on the use of AI predictive tooling.
The CS industry is under increasing pressure, with teams managing larger books of business than ever, facing a growing volume of activities, and often lacking the necessary data and reliable health scores to effectively prioritize their efforts.
The good news? The potential to transform into a revenue-growing function that impacts the wider business is huge. So what does this mean for your organization, and more importantly, what can be done to become industry-leading?
We’ve put together this report which details how the next generation of Customer Success teams will have to operate to hit big growth targets, delight customers and capitalize on the use of AI predictive tooling.
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Key Findings
01
Bad Data is Blocking Your Customer Success Efforts
- Businesses are leaving revenue on the table and more needs to be done to effectively eliminate churn.
- Over 50% of CS teams highlighted a desire for better data analysis tooling as a need to tackle churn
- 73% of CS teams believe proactive customer communication will cut churn
- 27% of CS teams biggest blocker was data accuracy
02
Without data to plug your gap, you’re just flying blind
- Customer success teams are struggling to implement objective and accurate health scores:
- The average accuracy rating for health scores is 5.96 (out of 10).
- Large enterprises (5000+ employees) have low adoption of health scores, indicating a unique challenge in integrating and trusting health scores.
- 30% of CS teams lack health scores, leaving them struggling to prioritize and forecast as their books grow.
03
CS Teams are drowning in challenges including:
- Managing customer expectations (39%)
- Having limited resources such as time, staff, budget (28%)
- Customer retention (22%)
- Difficulties in onboarding new customers (11%)
04
Customer Success is Built by Every Team
Teams are having to juggle multiple responsibilities whilst being targeted on increasing NRR for their organizations. Those surveyed found the following the most challenging:
- Managing customer expectations (39%)
- Having limited resources such as time, staff, budget (28%)
- Customer retention (22%)
- Difficulties in onboarding new customers (11%)
05
Relationships Don’t Retain Customers, Results Do
Ever-growing books of business and shrinking teams is leading to a need for the CS function to evolve, quickly in the following areas:
- Data analytics and reporting (63%)
- Training and development (51%)
- Cross-departmental collaboration (49%)
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