Customer Success: Going Beyond the Old CRM Model

WEBINAR 1.28.2015

Customer Success: Going Beyond the Old CRM Model

AGENDA

Introductions

Part 1 – Going Beyond the Old CRM Model

Part 2 – Customer Success in Action at Sysomos

Q&A

WE HELP SMART

PEOPLE & COMPANIES SUCCEED

SOME OF OUR CUSTOMERS

WWW.CUSTOMERSUCCESSSUMMIT.COM

Learn from the pros.

Exchange ideas with your peers.

Leave with best practices to shape your customer success strategy for 2015.

Vendor neutral and thought leadership focused.

The ultimate place to discuss all things customer success.

KATE LEGGETT Guest Speaker

VP AND PRINCIPAL ANALYST, FORRESTER RESEARCH

@kateleggett

[email protected]

JEFF CANN SR. DIRECTOR OF CLIENT EXPERIENCE, SYSOMOS

@jeffcann

[email protected]

INTRODUCTIONS INTRODUCTIONS

Customer Success: Going Beyond the Old CRM Model Kate Leggett VP and Principal Analyst, Forrester Research @kateleggett [email protected]

© 2015 Forrester Research, Inc. Reproduction Prohibited 7

We Have Entered The “Age Of The Customer”

Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report

1900 1960 1990 2010

Age of Manufacturing Mass manufacturing

makes industrial powerhouses

successful

Age of Distribution Global connections and transportation

systems make distribution key

Age of Information Connected PCs and supply chains mean

those that control information flow dominate

Age of the Customer Empowered buyers demand a new level

of customer obsession

Beyond


Our World Is Moving To A Subscription Economy

Credit: www.zuora.com


May 2014 “Application Adoption Trends: The Rise Of SaaS”

In Particular, Corporate Application Software Spending Is Moving From On-Premises To SaaS


Customers Have Become More Demanding, Staying Loyal To Companies Only When They Deliver Value

Product Focused Value Focused

Credit: www.zuora.com


As companies grow, revenue from existing customers becomes a larger and larger part of the company’s economic value


Retaining Customers Is As Important as Acquiring Them re

venu

e

time

95% retention rate -  Acquired 600 customers -  Lost 30

80% retention rate -  Acquired 600 customers -  Lost 120

$2M difference


Customer success actively manages

customer journeys to reduce churn, increase existing revenue and influence new sales


Customer Success Functions

Customer Success, as a functional role:

1.  Actively manages and monitors the customer’s journey with your product

2. Leverages a health score to understand a customer’s progress

along the journey 3. Engages with customers at the right time using a combination of

high touch and automated customer nurturing activities


Actively Managing Customer Success Starts With Managing The Customer’s Journey With Your Product

DECREASE VALUE

DECREASE VALUE

CHURN

CHURN

GROW VALUE

FIRST VALUE

START

INCREASE USERS INCREASE

USAGE EXPAND

FUNCTIONALITY

CHURN

ONGOING VALUE

ONBOARDING ADOPTION RENEWAL & UPSELL


Active Customer Success Management Relies On A Customer’s “Health Score”

A health score is an indicator of a customer’s likelihood of churning. A health score is at the heart of understanding and managing customer success.


A Health Score is Calculated From a Range Of Data

PRODUCT USAGE – Are users logging in and using the application regularly?

BUSINESS OUTCOMES – Is the customer getting the end result they purchased the product for?

SERVICE UTILIZATION – Is the customer fully utilizing their subscription?

CUSTOMER SATISFACTION – Feedback from customers and CSMs

SUPPORT & OPERATIONS – Outstanding support, SLA or invoicing issues

LEADING, OBJECTIVE INPUTS -

100% CUSTOMER COVERAGE

SUBJECTIVE INPUTS - LIMITED CUSTOMER

COVERAGE

1.

2.

3.

4.

5.


DATA INSIGHTS

WORKFLOW

Leverage The Insights Gathered From Data And Create Success Workflows Dependent On Where The Customer Is In Their Journey

Aggregation Cleansing Visualization

Segmentation Personalization Discovery of most important attributes

Map to the customer journey: Onboarding

Adoption Retention


Understand The Customer’s Journey With Your Product And Use The Right Data And Insights To Drive Engagement

For Users For Stakeholders Quantify the value of the product and how it helps realize business goals

•  How is product being used?

•  What was the products-time-to-value

•  What is the return on investment

•  What adjustments to contracts make sense

Risk management

•  Early warnings

•  Intervention workflows

Onboarding and product adoption •  Who is using the product? Who is not?

•  How to intervene to successfully onboard users?

Best practice adoption and retention

•  Which features are being used?

•  Are stickiest features being used?

•  Are features used the right way?


Nurture Your Customers Using A Combination of High, Low Touch And Automated Activities

› High touch › Low touch › Automated – customer nurturing – can include welcome, tips

& tricks, training videos, congratulations, and automated emails from CS team. › Interact with all customers using these methods


Hire The Right People And Give Them The Right Tools To Do Their Job


Who Makes A Good Customer Success Manager?

Passionate for serving customers

Relationship builders

Well organized and good listening skills

Good at conflict resolution

Proactive and can-do attitude

Technical enough

Best practice knowledge

Domain expertise

Work at all levels of an organization


Keep These Needs In Mind When Selecting A CSM Solution

›  1. Straightforward data collection – can pull the right data for you ›  2. Data analysis and insights – takes raw data and applies data science

to give predictive insights ›  3. Configurable reports and health score ›  4. Detailed Analytics ›  5. The right triggers and alerts ›  6. A combination of automated plays (based on certain

triggers) and high touch engagement


CUSTOMER SUCCESS STRATEGY

CUSTOMER SUCCESS

PROCESSES

CUSTOMER SUCCESS

MANAGERS

DATA FOR CUSTOMER SUCCESS

Customer Success Management Takes Coordinated Effort Across Four Dimensions

Thank you!Kate Leggett VP and Principal Analyst [email protected] @kateleggett

Jeff Cann: Sr. Director of Client Experience @jeffcann

January 28, 2015

© 2015 Sysomos -‐ All Rights Reserved sysomos.com | @sysomos

what’s next in social intelligence.

27

SYSOMOS: SOCIAL INTELLIGENCE PLATFORM

• Founded in 2007

• Worlds most robust ad-‐hoc social media intelligence

plaZorm

•  1 Billion posts a day; 184 languages, 190 countries

• Ad hoc reports in seconds from over 1/2 Trillion

documents

• 8,000 users

• Single source for managing owned social media

accounts

Results!

Select KPI’s FY 2014

Segment Churn Reduc0on Overall -‐25% Agency -‐11%

Corporate -‐35% > GB -‐33%

> SMB -‐42% Channel -‐74%

• >95% renewal rates for Enterprise business

• 100% Employee Reteneon (18 months)

• Client requests for retainers

Select KPI’s FY 2014

Why Service?

THE LANDSCAPE IS CONFUSING

The most important part of Solware-‐as-‐a-‐Service isn’t “Solware” it’s “Service”! Support, support, support! The only acceptable reason to lose a customer is death (bankruptcy) or marriage (acquisieon). Every Cloud company is in the service business, and therefore your customer service can be the difference between failure (churn) and huge success via high reteneon and up sells.

.

BESSEMER CLOUD COMPUTING LAW #7:

The Team

2014 2013 1:1 Account and Product

Support [email protected]

1 Owner: Onboarding, training, best praceces, day-‐to-‐day

Muleple touch points

Partner React

• Count the number of touches • Matching clients and people • You don’t lose customers you visit

BEST PRACTICES

Approach to the Customer

We leverage an

engagement strategy to establish long term

profitable rela?onships with

clients

FOUR ELEMENTS OF THE SYSOMOS CUSTOMER ENGAGMENT STRATEGY

Engaged

Experience

Listen

Improve

Engaged

Experience

Listen

Improve

• “I have a best friend at work” • Let personality and creaevity shine • Create a cross-‐dependent, metrics driven company

BEST PRACTICES

Engaged

Experience

Listen

Improve

Random Experiences

Inconsistent Uninteneonal

Predictable Experiences

C: Consistent I: Inteneonal Not differen+ated Not valued

Branded Customer Experiences

C: Consistent I: Inteneonal D: Differeneated V: Value to Customer

65% -‐ 85% of customers who switch to compeetors report being saesfied*

*Source: Why Sa?sfied Customers Defect, Jones and Sasser, Harvard Business Review, 1985

Engaged

Experience

Listen

Improve

• Everyone is a business owner • Never assume your customer is an expert

• Power of the reoccurring meeeng

BEST PRACTICES

Engaged

Experience

Listen

Improve

Social media monitoring, community management, campaign tracking, influencer ideneficaeon

Feature usage, license usage, client lifecycle and book of business management

Time and behavior based e-‐mail and in-‐app messaging.

NPS

Support portal and ecket creaeon

Bug and feature request management

Engaged

Experience

Listen

Improve

Engaged

Experience

Listen

Improve

• Beware of integraeons for the sake of integraeons

• Show them you listen • Personalize the experience

BEST PRACTICES

Engaged

Experience

Listen

Improve

THANK YOU

KATE LEGGETT

@kateleggett

[email protected]

JEFF CANN @jeffcann

[email protected]

@totango

[email protected]

Customer Success: Going Beyond the Old CRM Model

Software

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