customer success: strategies and tactics for accelerating user adoption by rapidly creating product...
DESCRIPTION
This 30 minute webinar covers two effective strategies and dozens of tactics taken from hundreds of customer success engagements for improving: - Customer retention and upsell - Customer support -- while lowering costs - User and product adoption - New customer acquisition - Brand advocates Today’s customers expect brands to support them throughout the entire ownership lifecycle and will jump ship (and churn) if it takes too much effort to become a product expert. Building a Customer Success strategy requires a collaboration across many departments in your organization and a new way of thinking about how you deliver content to your customers. Aaron Fulkerson, CEO of MindTouch, a provider of cloud based customer success software, will explore how leading businesses including, Intuit, Success Factors, Salesforce Verizon, MakerBot and RSA Security, Zuora,Pentaho, RichRelevance deliver higher quality service to their customers, lower the barriers to success, and increase brand advocacy. You will leave this session with data backed solutions and actionable next steps for achieving success in this new era of customer engagement.TRANSCRIPT
Customer Success; accelerating user adoption by rapidly creating product experts.
• Specific strategies and tactics to: Increase customer renewal and upsell Increase new customer acquisition Lower support costs Improve your products
• New growth hacking technique
• Fastest method of improving Net Promoter Score Drives revenue
• Specific live examples
• Provide research and data to back it up CEB, HBR, Forrester, Gartner and MindTouch
What To Expect
Business and Project Planning
MindTouch is cloud based software that creates customer success for large brands in technology,
manufacturing and services.
And hundreds of emerging technology brands too.
Customer service and customer effort principal factors.Source: October 2013 “Technology Management In The Age Of The Customer”
*
Increasing Shareholder Value
Defining Customer Success
Customer success is accelerating user adoption by rapidly creating product experts.
This improves customer retention and lifetime customer value. Creates brand advocates. Lowers support costs
Defining Customer Success
Most Common Customer Success Goals
1. Increase revenue• Drive new buyers, accelerate sales and lower costs
2. Seize the market! • Create product experts and brand advocates
3. Understand customers and buyers better• Improve customer renewal; identify and create upsell• Improve product experience
Resulting Measurement: Happy Customers
10
Net Promoter Score (NPS) helps calculate how likely a customer would recommend you to a friend or colleague. You can use it to define and drive business metrics like:
• Customer Retention Rate
• Average Spend
• Customer Lifetime Value
Measuring Your Customer Success Efficacy
“Answering the Ultimate Question”, Richard Owen and Dr. Laura Brooks of Satmetrix -- 2003
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Best Practice: Contact customers who score anything other than a 1 at any point in their journey.
Customer effort is the amount of time and
energy a customer needs to exert in order to accomplish a task.
Improving Net Promoter Systematically
From The Trenches
Two proven approaches for impacting Customer Effort and Net Promoter thereby driving customer success
• Overarching Customer Success program and departmentLaborious and expensive – lots of human capital and change management
• Deliver a self-service success experienceOur focus today and the fastest time-to-value
Customer Success Program Tips
• Start in Sales with a Success Blueprint– Challenges, Objectives and Metrics– Hand-off tool to Customer Success team– Helpful tool for the buyer
• Proactive, not reactive– Gather best practices
• Onboarding and training– Launch and best practices checklists– Share Success Blueprint and training vids
• Regular check-ins that refer back to Success Blueprint– Best practices checklists
Focus on creating generative value
– revenue is side effect
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Reduce Customer Effort Through Self
Service
Quickest Time to Value: Self-Service
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Customer Support Drives Disloyalty
Customers Requiring Agent Interaction
4 times more likely to leave disloyal than loyal
Harvard Business Review July 2010 CEB 2013
More Loyal
More Disloyal
1.00x
3.97x
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Benefits of Decreasing Customer Effort
Low Effort:
• 94% of customers who exert low effort will repurchase
• 88% of customers who exert low effort will spend more (increased wallet share)
High Effort:
• 81% of customers who exert high effort will say something negative about your company (Negative WOM – Word of Mouth)
• 96% of customers who exert high effort will be disloyal.
94%
4%
Low Effort High Effort
Low Effort High Effort
Low Effort High Effort
Low Effort High Effort
Experience Experience
88%
4%
1%
81%
96%
9%
Repurchase
Increased Spend
Negative WOM(Word of Mouth)
Overall Disloyalty
Source: CEB analysis
A CEB study of more than 1,400 B2B customers across many industries revealed that:
57% of a typical purchase decision is made before a customer even talks to a supplier.
2005: 30% of buyers report educating online before buying
2013: 80% of buyers report educating online before buying
$Customer Due Dili-
gence Begins
Customer’s First Contact with Sup-
plier
Customer Pur-chase Decision
57%
Self-Service Customer Success Impacts Buyers
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Stages Of Maturation: Customer Success Cycle
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Initiate Phase
Product Stages Departments Content Types
Create orPackage
• Engineering• Product management• Subject matter experts• Technical communication
• Product manuals • In-product contextual help• Editorials – best practices• Specifications• Release notes• Product announcements • Known issues
Market• Product management• Product marketing
• Product videos• Technical sales sheets and marketing• Competitive differentiators
Sell
• Sales engineer• Technical sales reps
• Samples created during sales cycle to validate product• Customer configurations• Workflows and technical use cases
Execute• Client services• Partners• Integrators
• Implementation documentation• Partner information • Customer configurations and samples
Train
• Customer success• Subject matter experts• eLearning• Training
• Training materials• Best practices• How-tos and tutorials
Support• Customer support • Closed cases
• Knowledge base
Renew / Sell• Account management • Customer Insights – product usage and customer value
• Same as Sell and Implement phases
Assets Span All Departments
Product Stages Departments Content Types
Create orPackage
• Engineering• Product management• Subject matter experts• Technical communication
• Product manuals • In-product contextual help• Editorials – best practices• Specifications• Release notes• Product announcements • Known issues
Market• Product management• Product marketing
• Product videos• Technical sales sheets and marketing• Competitive differentiators
Sell
• Sales engineer• Technical sales reps
• Samples created during sales cycle to validate product• Customer configurations• Workflows and technical use cases
Execute• Client services• Partners• Integrators
• Implementation documentation• Partner information • Customer configurations and samples
Train
• Customer success• Subject matter experts• eLearning• Training
• Training materials• Best practices• How-tos and tutorials
Support
Renew / Sell• Account management • Customer Insights – product usage and customer value
• Same as Sell and Implement phases
Knowledge BaseKnowledge Management
Tools Are Pre-Internet, Pre-Social
Product Stages
Create orPackage
Market
Sell
Execute
Train
Support
Renew / Sell
Capture, Organize and Serve Blended Content
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Initiate Phase – Web Ready, Blended Content
! TIP:• Cornerstone content: 10-20% -- (examine support
categories and web search traffic, talk to trainers and customers)
• Web native and centralized• Easy to update and collaborate• Searchable and discoverable repository• Expose as a service (omni-channel)
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Launch Phase
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Launch Phase – Deliver to Customers
Customers
Customer Self-Service
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ch
Initi
ate
! TIP:• Branded• Single-sign-on• Knowledge analytics
• Newsletter – drive adoptionWhat’s newActive usersMost usedBest ratedActivity metrics
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Launch Phase – Deliver to Customers
! TIP:• Branded• Single-sign-on• Knowledge analytics
• Newsletter – drive adoptionWhat’s newActive usersMost usedBest ratedActivity metrics
Customers
! TIP:• Serve prospective buyers as
self-education resource• Increase organic site traffic
(SEO)• Web analytics and Google
Webmaster
• Train Sales Engineers• Add lead scoring
Customer Self-Service
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ch
Initi
ate
Buyers
Self-Service and Buyer Education
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Integrate Phase
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Integrate Phase – Low Effort, High Value
! TIP:• Use contextual rec-
ommendations to drive self-service be-fore:
Phone, Chat, Ticket
• Track deflection
Deflection
Value
Rea
ch
Initi
ate
Laun
ch
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Integrate Phase – Enriching Self-improving Cycle
Deflection
Value
Rea
ch
Initi
ate
Laun
ch! TIP:• Contextual re-
sources for agents: CRM, call center, chat
• KCS methodologyAgent participation
• Customer insights User activity
Agent Empowerment
! TIP:• Use contextual rec-
ommendations to drive self-service be-fore:
Phone, Chat, Ticket
• Track deflection
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Integrate Phase – The “Last Mile”
Deflection
Value
Rea
ch
Initi
ate
Laun
ch
Agent Empowerment
! TIP:• “The Last Mile”
in-product assistance • Behavioral and cus-
tomer insights to inform product
• User experience in-sights
Most popularMost requestedMost shared…
Contextual In-Product
! TIP:• Contextual re-
sources for agents: CRM, call center, chat
• KCS methodologyAgent participation
• Customer insights User activity
! TIP:• Use contextual rec-
ommendations to drive self-service be-fore:
Phone, Chat, Ticket
• Track deflection
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ch Initiate Launch Integrate Optimize
Optimize Phase
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Optimize – Capture, Analyze and Improve
! TIP:
Improve Account Management:• Customer Success Management Analytics
Frontleaf, Gainsight, Totango…
Content, Agent and Web Analytics• Find gaps in content and quality, always be tuning
Search and Quality reports• Track agent participation and CRM stats
Increase lead generation: • Search Engine Optimization
Report and tune keywords
Close deals faster: • Virtual Sales Engineer – which articles accelerate / decelerate• Lead Scoring tuning – top Closed:Won – what did they review
Value
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ch
Initi
ate
Laun
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Inte
grat
e
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Expected Maturation Curve
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Expected Timeline
1-14 Days
Most Common Customer Success Goals
1. Increase revenue• Drive new buyers, accelerate sales and lower costs
2. Seize the market! • Create product experts and brand advocates
3. Understand customers and buyers; improve• Improve customer renewal; identify and create upsell• Improve product experience
1. Provide us feedback about this webinar so we can get better
2. Get a free evaluation from a MindTouch Customer Success expert
3. Attend Customer Success Program Webinar
4. Learn more about MindTouch by receiving a product tour
Next Steps
Find more helpful content on
Twitter: @MindTouch
and at
www.MindTouch.com/Blog