Mitch Rose - Billtrust's Client Advocacy Story

Client Advocacy Story

B2B Customer Engagement Leadership Series

Presented By:

Mitch Rose | July 28, 2015

Payment Cycle Management: Accelerate Invoice-to-Cash

A flexible, automated invoice-to-cash solutionthat meets diverse customer requirements and speeds cash application

DSOCustomerSatisfaction

Cost

“Billtrust has accelerated our invoice-to-cash cycle. Their technology has improved our ability to secure customer payments faster, giving us an additional $2M in cash flow each month, and reduced our DSO by 3 days.”

-Tim Drake, Vice President Credit & Collections, ThyssenKrupp Elevator

Why an advocacy program at Billtrust?

• How to leverage our client base?• +1,200 Clients – 55% average NPS score• 99% revenue retention

• Referrals close 20% faster than average deal but not enough of them• How do we get more referrals that are more predictable?

PROBLEM: Asking for referrals or waiting for them to happen is difficult and hard to predict.

GOAL: Increase referrals by 50%

What is the role of advocacy across Billtrust organization?

Marketing/ Sales

Leads References Testimonials

Client Services

Product

Project ManagementHappy & Engaged Customers

Insights & Feedback

Incentive to Speed Projects

What’s in a Name?

Levels:OPENING ACT: Welcome to the [Billtrust] JungleHEADLINER: The A TeamMAINSTAGE: You’re The Best AroundROCKSTAR: Hey Now, You’re a Billing Rockstar

Themed Rewards:

What should the team look like

• Resources• Executive Sponsor• Project Leader• Execution* (New Hire)• Design• Cross functional

Know Your Audience

• Large Wholesale Distributor• Reports to CFO• 7+ Direct Reports• Numbers driven• Responds to short messages• No marketing jargon/fluff• Loves Blacklist and Game of Thrones

Jason Dir. Of Credit & Collections

Launch: Billtrust CONNECT

• Soft launch 2 weeks ahead of Billtrust CONNECT

• Hard launch at event including:• Promo on badges• Welcome bag• Integrated into sessions• Back Stage Pass Booth• Public leaderboard with prizes

• Additional Promotion for Back Stage Pass• Company website• Within products• Newsletters

• 301 users/173 engaged (used past 30 days)• 35 Referrals - 15 Qualified• 1 Opportunity scheduled to close Q3• 40+ References• 100+ Testimonials• 20 Clients agreed to participate in webinars• Data collected used in research and content production• Product feedback

How's it going?

1. Keeping users engaged – keeping things fresh2. Growing # of users3. Participation across organization

Three Key Challenges to Support an Advocacy Program

Questions

Mitch Rose | SVP [email protected]