Putting Customer Success In The Driver Seat Costanoa Customer Success Forum April 29, 2015
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Putting Customer Success In The Driver Seat
Costanoa Customer Success Forum
April 29, 2015
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I like todisrupt markets
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My Story Starts in a Lab…
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My CS Journey Started in a Lab…
Much more fun to be in the DRIVER seat
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For Breakout Companies, Customer Success is a Driver Function
Company
Driver
Internally Recognized
(Drives critical metrics)
Competitive Differentiator
(Unique, WOW moments)
Critical for Strategy
(Go-to person for CEO)
Drives SustainableGrowth
(New Customers /Upsells)
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The CX-Centric Model of The Firm
Acquisition
Gain new customers.
Engagement
Create incredible user experiences so they want to
come back.
Monetization
Find ways to earn revenue from your
customers.
Source: Geoffrey Moore (http://www.linkedin.com/today/post/article/20121203173700-110300724-what-is-your-slowest-gear)
Enlistment
Get your customers to
voluntarily recruit new customers.
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Success can’t be measured by retention alone; it’s about Customer Growth……
For CS to be a Driver in a New Environment:
……Customer Growth is driven by Advocacy….
… Advocates are mobilized when fueled by ‘Wow’ Moments in the product
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The Driver Customer Success FunctionDrives Growth
Revenue Growth =
Customers x Contract Value x (Growth - Churn Rate)
MOAR LOGOS!
BIGGER LOGOS!
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Consider the new growth opportunities of delighted customers
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From Jason Lemkin’s SaaStr Blog: http://www.saastr.com/its-not-just-cltv-its-your-trgcltv-that-matters-total-all-in-revenue-generated-by-your-customer/
Second Order Effects – Advocacy Compounds
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Advocates make non-financial investments in your company.
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Advocates drive customer profitability
Source: David Skok’s ForEntrepreneurs Blog, 2010 (http://bit.ly/bZpMfB)
14Source: Influitive data
Marginal cost
Marginal benefit
Total investment in customer experience
Marginal cost/value
Status Quo:
Invest in CX so that marginal benefit =
marginal cost…raising the optimal level of
spending on CX
Advocate mobilization increases marginal benefit to
investing in CX....
Advocacy allows greater investment in CX and CS
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And yes, Advocacy can Directly Impact Churn
Facing 7%/moChurn
Engaged 20 Advocates
Grew to over 80
100% Renewal on accounts with
“advocate buddy”
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Develop
Advocates
Mobilize
Advocates
The formula for sustainable Advocacy
Get your Advocates on your team
(Customer Success) (Marketing)
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Drive 5x more advocacy with an advocate program
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Advocacy Doesn’t Happen without WowMoments for your Customers
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Minimizing Weakness
doesn’t delight….it appeases
If you want advocacy, then you need to be
remarkable
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“I've learned that people will forget
what you said, people will forget what you did, but people will never forget how you
made them feel.”
― Maya Angelou
“
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3 Key Take-Aways to Drive “Wow” Moments … and Scalable Customer Delight
Incredible Onboarding Experience
Product-ize “Wow”
Moments
Proactive Service
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Incredible Onboarding Experience
High Touch and Personalized
Service
Myriad of Standard
Resources
“I’ve been consistently amazed at the onboarding processShannon knew pretty much everything there was to know, and mobilized
internal resources to help me get up and running FAST. I had an aggressive deadline (3 weeks) to roll out my hub, and thanks to her flexibility and
willingness to move at my speed, we beat that deadline.”
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Proactive Service
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Product-ize “Wow” Moments
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QUESTIONS?
@markorgan
@influitive
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