Customer Success Management: Subscription-based revenue models and platform business models for manufacturing companies

Subscription-based revenue models and platform business models are also becoming increasingly attractive for manufacturing companies. The introduction of such revenue models and business models usually requires a new dimension in customer centricity. Software-as-a-Service companies have demonstrated this. By introducing the Customer Success Management approach, these companies were able to capture cross-selling and up-selling potential and thus realize above-average profits. In this article, we will examine the Customer Success Management (CSM) approach. We discuss the core elements of CSM and describe six specific success factors for its application. These success factors are aimed at customer benefit and satisfaction and are intended to ensure that the CSM effectively and efficiently focuses on the needs and expectations of customers and creates competitive advantages. Finally, the article provides an outlook for platform business models in the area of sustainability, for which the CSM concept is expected to be of significant relevance.