customer success is a company mindset
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Transcript of customer success is a company mindset
CONFIRM Tony Hsieh
We really don’t think that customer service is an expense that
you should try to minimize, it’s really an investment in your
brand. The telephone is one of the best branding devices out
there. If you wow customers during that interaction, that’s
something they’re going to remember for a very long time and
tell their friends about.
Tony Hsieh CEO Zappos
CONFIRM Bad News Travels Far and Fast
A new survey shows that a satisfied customer might tell five
friends and family members about their pleasant experience,
but an unhappy customer is more likely to share the bad news
with up to 100 people.
Colloquy http://bit.ly/1b1QsYn
CONFIRM Presuppositions
We are in an era of partnered value creation (for the user/customer). Therefore;
• Customer success is driven from the top and must be an integral part of the corporate culture. Every part of the organization must understand its role
• Companies that adopt a Customer Success Framework across their organization, allowing for diagnostic measures and enabling good prescriptive analysis, have a tremendous advantage.
• Employee camaraderie and fun working environments create happy and energetic employees. This has a contagious affect on customers.
• Customer success doesn’t begin AFTER the sale; it begins BEFORE the sale.
• Understanding “WHY” a customer bought and the expected value they anticipate deriving is critical.
• It is important to remember that customer relationships are both art and science. The science side can be taught. However, the art cannot be overstated.
• The company that creates the most customer value gets the most business.
CONFIRM Foundations
• Be fanatical about the customer’s success
• Create an engaging work environment
• Establish incentive plans that focus on Customer Success across the company
• Be profitable
CONFIRM
Product Marketing
Sales
On-boarding Adoption
Account Management
Sales occur: Perceived Value > Cost Retention occurs: Realized Value > Perceived Value Success occurs: CLTV > CARC* * CARC – Customer Acquisition and Retention Costs
Success Ecosystem
CONFIRM
Opportunity for first win and to reinforce purchase decision.
Engagement Steps
Onboarding
Adoption/Usage
Engaged User
Loyal Customer
Disseminate best practices and possible consulting. Show how “WHY” can be achieved.
Expected value has not been established/realized. Find GAP(S) and begin again.
Expected value has been realized or exceeded
Communication & Workflows
Key P
erfo
rman
ce In
dicato
rs
Each step is an opportunity to establish value. The goal should be to minimize time to value, but NOT at the expense of the customer.
CONFIRM Loyalty Matrix
Value Derived Greater than Expected Less than Expected
Interactio
ns
Positive
Negative
Promoter
Saboteur
Loyal / Evangelist
Satisfied
Pessimist
Detractor Hostage
Defector
Defector
CONFIRM Overlooked Customer
Touch Points
Customer Success must be viewed holistically across all touch points of the company. Interactions should always be desinged to increase your customers’ realized value of your company or its product/service.
Partners Development
Deployment Executives
Other G&A Product Management
CONFIRM
Usage • Peak usage (#) • Peak usage (time of day) • Users as a percent of
licenses sold • User minutes (logged in) • Usage Trends
Issues Possibly Leading to Churn • Downloading Data • Credit Card Expiration • Close Account Page Visits • Users Leaving Company • Changes in Account Users/
Administrators
Operational • Incidents (#/by channel)
• Service calls (#/time of day) • Hold times • Abandonment rates • Talk Time
• Share of Voice • Application/Website: Trouble
Tickets (#/time of day) • Website: Help “Chat” • Website: Help Library
• Clicks to Resolution • Mean Time to Resolution (MTR) • First call resolution • Escalation Rates • Incidents opened and resolved
(within a specific time frame: per hour/per day)
Sample Metrics
CONFIRM
Financial • Gross Margin • Contribution Margin • Revenue Saved • Burden Rate
• Hourly/Quarterly • % of Licenses • % of Customers
• Fully Burdened Cost per Incident • Training
• Days per Year • Cost
Sample Metrics
Quality • Surveys
• Post Incident • Self-service/Community
Experience • Relationship
• Across the company • Specific areas of the
company • Loyalty • Churn
CONFIRM
NOTE: This is a macro representation. It may require additional items or modifications to existing items.
Example: Revenue Operations
CONFIRM
Company-wide (examples): • Hiring and On-Boarding Customer-facing Personnel (Sales, Executives, Marketing, Customer
Success, Others) • Go-to-Market Strategy (Product across Geos, Verticals) • Best Practices (Geos, Personas, Verticals, Stages) • Content creation and strategy (Geos, Verticals, Personas) • Mobile-enablement
Components: • Process • Tools • Enablement Roles • Content • Best Practice & Resources
Goals: • Value of what is delivered exceeds the perceived value of what is being acquired • Increase revenue (CLTV) while decreasing the cost of sale/cost of retention (CARC) • Sales reps become consultants, selling value over price/Post-Sales teams drive value
optimization • Increase win rates while increasing deal size (upsell/cross-sell) • Increase win rates / reduce churn • Reduce length of sales cycle / improve time to value
Customer Success & Revenue Enablement