The Ultimate Merger and Acquisition Playbook for Customer Success [Infographic]
🗓 July 13, 2022 In Churn
Discovering M&A Earlier
When a merger and acquisition happens, a lot is at stake for customers and companies involved; therefore, it is important to discover early when the customer undergoes acquisition. The company’s CSM is responsible for discovering the M&A as soon as it happens, which means the CSM team must have a strategic relationship with the customers. It is also possible to help the customer’s issues after the M&A, and therefore knowing what is taking place helps a lot in improving the customer’s success and experience, especially if the CSM gets to the customer and shows empathy at a personal level.
Research on the M&A Process and Events Happening
There are different ways an acquiring company may treat the company being acquired, and in most cases, they’ll explain the intent; therefore, it’s important to research the M&A. For instance, a company that has invested well in CS may be acquired and let to operate independently, or the acquiring company may take over everything. Therefore, the customers may have some tough experiences. In acquisition, there’s a very high possibility of a change in the definition of customer success. Depending on the company’s intent, the customers’ well-being is at stake, and thus CSM team must be keen to notice the issues that take place in the M&A process, like mistakes and risks.
Following Up After the M&A
After customers are acquired, following up is a great way that could help in retaining the customers. The CSM may ask the customer if they’re willing to continue working with them, how they’re holding up, and whether they like the new environment. In addition, the CSM will have to decide whether they should continue with the old customers after acquisition or should make new customers. The parent company also should be observed by the executive to see the kind of relationship that develops after the M&A and therefore design the best way to ensure customer success and experience.
Preparing for a Merger and Acquisition?
Make sure it doesn’t hurt your customers. At CSM Practice, we can help your customer success team implement an effective program company-wide to understand your ever-evolving customers’ business needs. We’ll help you find ways to adjust your strategy to help your clients achieve their desired business outcomes through a positive customer experience. Contact us today.