Case Study
Software Provider Adds $60M In Revenue
A provider of business software faced increased competition and falling customer retention. They saw their share of wallet from existing customers threatened and sought to take action before it impacted their bottom line.
The company used customer experience analysis to identify opportunities for improvement that would lead to enhanced financial performance.
The company chose CFI Group's proven methodology for measuring customer experience and linking changes in satisfaction to financial results. The analysis showed that simply improving the software or lowering price was not the most efficient path to more satisfied, profitable customers. In fact, CFI's analysis suggested three high-impact recommendations:
- Change account management approach from product-centric to single point-of-contact
- Institute quarterly account review meetings to discuss needs and issues
- Empower account managers and streamline negotiation process giving them power to finalize agreements
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