So you may be wondering, what the hell does Dana do? Yeah, I will say my parents can’t even, or my sister can’t explain what I do. So you guys are gonna be so much better educated then my family. Okay, I didn’t really click.
Now I’m good. I’m a customer success manager. Oh my God. So what the mean? You may be wondering. Alright. Well, I’m here to tell you what customer success manager is. The am. Honestly, it really depends on the industry. Yeah, let’s do it. We’ll start there. So being a CSM is really dependent on industry. The industry that I work in is Sass. Oh my God, you may do like the same thing.
Saas stands for software as a service. Never would have known it. Thank you. So you might be wondering what is software as a service? Well, guess what? You’re, you are going to recognize, you’ll likely recognize at least one of these are awesome. Okay, so these are different softwares that act as a service for your company. So these are the types of companies that I work for. I do. Right. So now that we know what the software is, I love it. Here’s what I do. Yes. Okay. So I know it’s worthy, but I’ll just talk about it. So essentially, the customer, which is Doctor Pepper, which is whatever these big brands that you likely, oh my god, we do the same thing. So I make sure my customers are getting the most value from what they’ve purchased and they spend a lot of money with us, right? If I lose a customer, then my bonus is negatively impacted. Did. So I need to keep my customers if I grow them, that’s like nice. That’s like a nice to have, but I really just need to keep them. And so this is why I switch job so much because if the software sucks, it’s hard for me to do my job. So this is a good software. I want to stay here for as long as possible because this is like legit. The customer see value even in the ship market. So like I need a good software or else my job is really difficult. So right now my job is easy cuz the customers like, so how do I retain my customers? You might tell me. I’m wondering.
So what I do is I high host program planning workshop. So if they’re a new customer to solidify this software is brand new to them, or if I’m getting them new to me, I create, I work with them, I do workshops and we create a plan based on their business goals to say, what are you trying to achieve? Cuz I work with like e commerce teams. So they’re like, we wanna achieve this much more market growth in sales online and we want to save time and money. That’s just this high level. So I’m like, okay, here’s how you can use salsify to do that. We wanna make sure that you are doing the least amount of work possible, getting the most gains to be like breakdown tactical things.
We need month over month to check on like how they’re doing. I present business reviews, I’ll present ROI. So like how much are you spending and how much are you like saving based on using our software? So how much time are you saving, which each equals dollars saved. I don’t do the math, you know a second math. So why am I important? So in Saas specifically, software is a service I like called saas. Yeah, on average, I like it can cost four to five times more to acquire a new customer versus retaining current customers. And statistics show that an increase in customer retention by only 5%. So if we retain our customers more by 5%, that leads to a company’s profits increasing by 25 to 95% over a period of time. But why is that? It’s because the customers already trust us. Why? Because I’m awesome and trustworthy. And I don’t know, Instagram, I really rethink my hesitation that would call myself awesome at all. I’m really, I will say I’m really good at what I do.
A recent Harvard visit for Business Review side shows that existing customers are 50% more likely to try new products, so we’re constantly coming out with innovations. We’re using AI a lot now. And our current customers are like, well, we love you and you guys are great. I’m more willing to try new things and purchase them than trying to convince some new non customer prospect to purchase things. And I manage currently $6 million of annual, so essentially $6 million, those customers altogether spend $6 million with us year over year.
So that’s my current book of business with massive growth potential if I keep my accounts happy, which I try to do to and ensure their sex success, not sex. And so that’s what I do for my 9 to 5 to maintain my expensive lifestyle. I’m good. I’m not come out. I’m down to questions in the middle like we did. Yeah, I like, so yeah, I think, yeah, I have a question.