CSM Customer Relationship Management & Retention 5

Question 1

A sales manager notices that customers who complete onboarding within 30 days have a 50% higher 12-month retention rate. The BEST response is to:

Accepted Answer

Create an accelerated onboarding program with clear milestones and dedicated support

Answer

Faster time-to-value through structured onboarding improves retention, so accelerating this process with milestones and support is the optimal strategy.

Question 2

Which CRM strategy is MOST effective for increasing share of wallet within an existing account?

Accepted Answer

Identifying adjacent needs and positioning complementary products or services

Answer

Growing share of wallet requires understanding the customer's full business needs and proactively offering solutions that address adjacent pain points.

Question 3

A 'closed-loop feedback' process in CRM means:

Accepted Answer

Collecting customer feedback, acting on it, and following up to inform the customer of changes made

Answer

Closed-loop feedback ensures customers know their input was heard and acted upon, which builds trust and demonstrates responsiveness.

Question 4

Which of the following scenarios represents a 'success milestone' approach in customer retention?

Accepted Answer

Defining specific outcomes the customer should achieve at set intervals and celebrating them jointly

Answer

Success milestones set clear expectations for value realization and create positive emotional touchpoints that reinforce the customer's decision to stay.

Question 5

In a CRM context, what is the main risk of relying solely on a single executive sponsor at a customer account?

Accepted Answer

If the sponsor leaves, the relationship and renewal may be jeopardized

Answer

Dependence on one executive sponsor creates a single point of failure; if that person leaves, the account relationship can collapse rapidly.

(CSM) Certified Sales Manager Practice Test

(CSM) Certified Sales Manager Practice Test

CSM Customer Relationship Management & Retention 5