Transforming Customer Lifecycle for Global Cybersecurity Leader
The client is a prominent player in the Cybersecurity industry listed in the S&P 500.
The client faced a critical business challenge post-sales—how to reduce churn, enhance cost efficiency, and deliver top-notch Customer Success (CS) for their Tier 2 customers. The task at hand necessitated the implementation of a partner-based CS model to not only address churn but also scale CS delivery effectively for smaller clients.
Trantor's Strategic Approach
Trantor, renowned for its innovative solutions, collaborated closely with four business units to design a comprehensive strategy. The goal was to manage high-touch CS delivery while simultaneously launching scalable initiatives for small and medium-sized customers. The tailored approach comprised the following key activities:
- 1. Virtual CS Expert Team:
Trantor established a fully trained team of virtual CS experts dedicated to managing customer journeys and proactively improving churn rates for smaller accounts.
- 2. Dormant Account Resurgence:
Focusing on dormant accounts, Trantor collaborated seamlessly with the sales team to formulate and execute effective ‘get well’ plans. This collaborative effort aimed to enhance adoption rates and revitalize accounts that had the potential for renewed engagement.
- 3. Centralized Issue Resolution:
A central team was created to address and clear out key cases that hindered deployment and adoption, ensuring a streamlined process for smoother customer experiences.
Trantor’s strategic interventions yielded significant positive outcomes, demonstrating the effectiveness of the implemented solutions:
- 1. Net Dollar Retention Improvement:
The client witnessed a remarkable 15% improvement in net dollar retention, showcasing the success of the churn reduction strategies implemented by Trantor.
- 2. Cost-to-Serve Efficiency:
Trantor achieved an impressive 60% improvement in cost-to-serve compared to local high-touch resources. This not only addressed the client’s concerns about cost efficiency but also showcased the scalability of the CS model implemented.
- 3. Enhanced NPS Across Tiers:
Customer satisfaction soared, as evidenced by a 40% improvement in Net Promoter Score (NPS) specifically for lower-tier customers. This indicated a substantial improvement in the overall customer experience.
Trantor’s collaborative and innovative approach not only addressed the immediate challenges faced by our client but also set the stage for long-term success in the post-sales customer lifecycle. By successfully balancing high-touch delivery and scalable solutions, our client not only reduced churn and enhanced cost efficiency but also elevated customer satisfaction across all tiers. This case study stands as a testament to Trantor’s commitment to delivering transformative results in the realm of Customer Success.
Trantor enabled us to significantly improve churn and boosted customer satisfaction. We're immensely thankful for their outstanding contributions to our customer success goals.- VP Customer Success