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Embedded Analytics in Customer Success
 

Embedded Analytics in Customer Success

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This slide deck discusses how customer success application providers can leverage embedded analytics to improve user experience.

This slide deck discusses how customer success application providers can leverage embedded analytics to improve user experience.

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  • At Gainsight, our goal is to provide technology to help analyze and automate the entire lifecycle of Customer Success and Account management – all from within the Salesforce.com system you use today. <br /> Our customers typically start with our Retention Management module, which leverages all of the data you have about customers in terms of product usage/adoption, support interaction, survey scores, contract information and payment information to give you early warnings about customers at-risk – so you can take action before it’s too late. Retention Management provides a success pipeline for CSMs / AMs to get alerted about customers at risk and then assemble and track an action plan to bring them back to health. <br /> After solving the pressing need of at-risk customers, our customers often next leverage our Adoption Management module to view individual customers in terms of usage / adoption across key performance indicators, benchmark them against other customers, build client scorecards and compare metrics to key milestones (e.g., go-live, training) in the customer lifecycle. <br /> Customers use our Lifetime Revenue Management module to analyze the full revenue stream of customers across their lifetime, breaking down changes in customer revenue owing to new business, up-sells, down-sells, price increases, price decreases and churn. Companies can look at this data for individual customers or across all customers. <br /> Gainsight includes a Feedback Management module to allow CSMs and executives to measure customers satisfaction, leveraging the NetPromoter methodology and/or custom surveys. Surveys can be created, delivered and analyzed. In addition, since Gainsight runs in Salesforce.com, survey responses can be analyzed against any SFDC data including customer revenue or contact role (e.g., survey scores by decision makers). Finally, customers can combine Feedback Management and Retention Management to automatically create alerts based upon survey feedback. For example, CSMs can immediately be alerted when decision makers in customers fill out a survey with a Detractor response, while Customer Reference Marketing could get a notification when customers fill out a survey with a Promoter response. <br /> Finally, the Gainsight Growth module allows CSM teams to collaborate with Sales teams to identify up-sell opportunities. Up-Sell alerts can notify sales and CSM teams when customers hit license threshholds or other indicators for add-on. Our Adoption reports gives you a birds eye of active customers that are ripe for purchase. And our Renewal Dashboard helps you identify upcoming customer renewals and the health and risk of each renewal. <br /> Through all of the modules, the Gainsight platform includes two key components: <br /> Customer360 – we leverage our predictive analytics technology to capture, integrate and analyze all of the sources of data you have about your clients <br /> Playbooks – our Playbooks workflow technology allows you to define standard interventions for customers based upon scenarios (e.g., what to do when a customer hasn’t logged in for a month) <br />
  • Segment integration is in beta; <br /> Middle stack is in beta and GA when we complete SFC security review (should be October) <br /> Right stack is GA now with incremental enhancements to extend middle stack value <br />
  • (QBR, Best Practices, etc.) <br /> (early warning, adoption, etc. <br /> (nurture, webinars, etc.) <br />

Embedded Analytics in Customer Success Embedded Analytics in Customer Success Presentation Transcript

  • Pentaho Webinar Series: Changing the Game for ISVs October 22, 2013 1 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Advantages of Embedded Business Analytics for Customer Success Users The Impact Embedded Analytics Can Make on Your Bottom-Line Presenters: Kevin Dobbs CEO, Montclare Nick Mehta CEO, Gainsight 3 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • About Pentaho • Recognized leader in business analytics & data integration • Subscription-based business model • Achieved critical mass: • Over 1,200 commercial customers • Over 10,000 production deployments • Over 185 countries • Stewardship of most important open source analytics projects INDUSTRY RECOGNITION 4 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 OVER 160 PARTNERS GLOBALLY
  • Speakers Kevin Dobbs, CEO, Montclare Nick Mehta, CEO, Gainsight Kevin is the founder and CEO of Montclare, a leading advisory firm exclusively focused on building profitable SaaS businesses. Nick is the CEO of Gainsight, the leading Customer Success Management company helping businesses reduce churn and increase upsells with a complete, data-driven view of customer health. Kevin is an Oracle alumni who started his career working with industry icons Marc Benioff, Craig Conway and Tom Siebel. He also held executive management positions with Edify, Workscape, Kadiri and Workstream where he was responsible for developing each company's new SaaS products and businesses. Active in the SaaS community, Kevin is frequently a speaker at SaaS and Cloud Computing industry events. He has published many popular papers on building high value SaaS businesses and is the author of the Smart SaaS blog. 5 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 Before joining Gainsight, Nick was an Entrepreneur-in-Residence at Accel Partners where he focused on developing opportunities in the enterprise applications and infrastructure markets. Prior to Accel Partners, Nick served as CEO of LiveOffice, leading the company’s profitable growth in revenue and successful sale to Symantec. Prior to LiveOffice, Nick was a Vice President at VERITAS Software. Nick holds a master’s degree in computer science from Harvard University.
  • Leveraging Embedded Analytics To Gain Advantage In Customer Success Kevin Dobbs, CEO 6 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Customer Success Market is New “It’s the next big category” – Geoffrey Moore, Chasm Group ‘Analysis shows that an incremental 2% increase in retention leads to a 20% higher multiple, and an incremental 2% increase in up-sell leads to 28% higher multiple’ It is more difficult and costs 6 to 7 more times to acquire a new customer than it does to keep an existing one. For private SaaS companies in 2011, we found an average renewal rate of 78 percent by total customer renewals and 87 percent by total dollar value Sources: SaaS CEOs: Measure Customer Engagement – Increase Conversions & Lower Churn, David Skok, 2011 The SaaS churn challenge: How to hold onto your customers, Viralheat CTO Vishal Sankhla, 2013 SaaS Benchmark Report, OPEXEngine, 2013 7 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Market is Evolving Quickly Customer Success Management Customer Lifecycle Management Customer Engagement Gainsight Raises $9M Series A Customer Success Analytics April 2013 Customer Engagement Customer Lifecycle Management Customer Success Analytics 8 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Customer Success Tips & Tricks Reducing churn and increasing customer satisfaction 1. Automate Onboarding 4. Health Checks  Easy to use forms  Monthly activity  Pre-configured workflows  Key features used  Checklists  New features 2. Track Activity 5. Engagement  Monitor logon’s  Communities  Transaction volumes  User meetings  New users  Interest groups 3. Self-Service Training   Wiki’s  9 Videos Recorded webinars © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Customer Success Tips & Tricks Reducing churn and increasing customer satisfaction 1. Automate Onboarding 4. Health Checks  Easy to use forms  Monthly activity  Pre-configured workflows  Key features used  Checklists  New features 2. Track Activity 5. Engagement  Monitor logon’s  Communities  Transaction volumes  User meetings  New users  Interest groups 3. Self-Service Training   Wiki’s  10 Videos Recorded webinars © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Challenges to SaaS Customer Success Common customer issues with all types of Customer Success and Service products: • • Hard to gain visibility across large amounts of data • Tools can be complex and hard to use • Information resides in many, disconnected systems • Can't easily implement newest capabilities • 11 Data overload Slow time to value © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Challenges Facing SaaS Companies Leveraging external R&D team for non-core technology • • Commercialized open source products, large developer community supporting the products and increasing innovation • Keep ISVs development team and investments smaller • Embedded or OEM model • 12 Deliver quickly; dramatically improved time to market Tap into needed domain expertise © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Delivering a Superior Customer Experience Understanding the importance of adoption and consumption Commitment Internalization Institutionalization Acceptance Change Management Adoption Initial Use Perception Positive Perception Communication Understand Preparation Aware Unaware Time Source: Product Adoption and Consumption Curve. Glenn Oclassen, 2012 13 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 Go Live
  • Delivering a Superior Customer Experience Understanding the importance of adoption and consumption Commitment Internalization Institutionalization Acceptance Change Management Adoption Training Initial Use Perception Positive Perception Communication Understand Preparation Aware Unaware Time Source: Product Adoption and Consumption Curve. Glenn Oclassen, 2012 14 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 Go Live
  • Delivering a Superior Customer Experience Understanding the importance of adoption and consumption Commitment Internalization Support Institutionalization Acceptance Change Management Adoption Training Initial Use Perception Positive Perception Communication Understand Preparation Aware Unaware Time Source: Product Adoption and Consumption Curve. Glenn Oclassen, 2012 15 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 Go Live
  • Flexible Analytics Propel SaaS Products Increase Customer Adoption and Consumption 16 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Addressing Customer Adoption Challenges Adding New Customer Success Capabilities Quickly • Rate of change has increased and customers expect rapid innovation • Competitive advantages are hard to maintain • Adding complimentary capabilities; no internal expertise in areas like Analytics, BI or Big Data • Looking for new features that engage users ISV SaaS Platform 17 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 Social Mobile Analytics Integration Single Sign-On • Support for mobile New Features “Plug & Play”
  • Poll What types of Customer Success products does your company use? ☐ Call Center ☐ Customer Lifecycle ☐ Communities ☐ CRM 18  Customer Analytics ☐ PSA © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Examples of OEM Products SaaS Add-On market is growing Security / SSO Integration Big Data Social Mobile 19 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Communities Use Case Connecting with customers Customer Communities • • View user activity • Spot trends • Build automated reports with charts • 20 In-line reporting 'What if' analysis © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Customer Service Proactively engaging customer service issues Customer Support • • Identify problem trends • Understand quality of resolution • 21 Review issues quickly Quickly determine cost per interaction © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Professional Services Automation How Embedded Analytics Can Help Installation and Onboarding • • Scheduling • 22 Resourcing Project Management © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Learn More About the SaaS Model and Market Montclare is a leading provider of SaaS resources including research, services and a SaaS-focused online community. The Montclare team has been actively involved in the SaaS industry since it's inception, profiling leading firms, speaking at industry events and providing business guidance to a full spectrum of software companies. The Montclare Community has been design to help software professionals gather more information about SaaS. This new beta community allows members to them watch current SaaS video content, learn what's happening in SaaS through news feeds and information shared by industry thought leaders, they can also connect with their peers and share industry best practice ideas and information. Visit Montclare.com for more information. Become a member for free today at montclare.com 23 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 The Montclare SaaS 250 is a report identifying the 250 most influential SaaS companies in the world. The document provides analysis of the industry as well as individual companies. These companies are categorized by revenue size, solution type and geographic location. The report is a critical tool for competitive analysis, go-to-market programs and market segmentation. Montclare's SaaS 250 is a valuable tool for software executives, investors and analysts due to it's insight within this fast-paced market. The Report is available exclusively through the Montclare site at: montclare.com/saas250.
  • Customer Success Experiences Nick Mehta, CEO 24 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • success noun sek-’ses 25 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • How? 26 26 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Starts With Culture 27 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 6 Steps to Success 1. 2. 3. 4. 5. 6. 28 Create org Define customer health Tier customers Manage customer data Define interventions Get predictive © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 1. Org – Assign an Owner 29 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 1. Org – Where Do You Fit? Partnership Model Product Complexity ServiceOriented Integrated Model SalesOriented Firefighter Business Maturity 30 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 2. Measure Customer Health Financial Health: Payment history, credit score Contract: Term, spend Relationship: Surveys, key sponsors Adoption: Usage, features Interaction: Support, other contacts, social 31 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Poll #2 Which one of the following business problems resonates best with you? ☐ Identifying at-risk customers early ☐ Scaling Customer Success / Account Management teams efficiently ☐ Finding up-sells and advocates 32 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 3. Tier Customers STRATEGY PROACTIVE JUST-IN-TIME High Touch High Touch Key Issues Just revenue? Reference-ability? Low Touch White space? Low Touch AUTOMATION No Touch No Touch 33 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 Network effect?
  • 4. Manage Customer Data CRM System Products, renewal date, pricing, … PSA System Late go-live, go-live and no usage, … Support System Lots of P1s, long TTR, no cases, … Product No usage, decline, key feature, … Survey System NPS, post-case, post-onboarding, … Billing Invoices past due, credit card declines, … ??? QBRs, reference, conference, … 34 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 Key Issues Common customer ID Sync frequency Aggregation level
  • 4. Manage Customer Data Raw data aggregation Operational store Reporting 35 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 5. Define Interventions STRATEGY PROACTIVE JUST-IN-TIME AUTOMATION 36 INTERVENTION High Touch Customer Prep Low Touch Early Warning No Touch Nurture © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 6. Get Predictive Data Science Counter Intuition Confirm Intuition New Insights Best Practices Intuition Alert Rules and Playbooks 37 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 6. Get Predictive Phase Hard Problems Data science strategy Feature extraction How do group / aggregate data? Feature selection Which data matters? Machine learning Which algorithms to use? Iteration Where do we go next? Alert configuration 38 What data to start with? How do we operationalize this? © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Case Study: Methodology Data Set Selection •Isolated data to customers with at least 9 months of history •Split customers into two – “Test” and “Control” groups •The “Control” group compared Churn vs Active •We back-test the prediction model against the “Test” •> 40 usage features, NPS, support, account data Time Selection •Narrowed focus to “normal” active periods •Compared 3-month time frames to find secular trends 39 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Case Study: Findings 53% decline in number of sessions in middle of subscription 15% decline in key usage metric No proactive outreach within 6 months of renewal Alert Rules and Playbooks 40 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555 Average NPS score of churned customers = 7.2 (scale is 1 to 10) Only a small number of churned customers had highest level Support tickets
  • We Drive Customer Success for the Subscription Economy 41 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • 42 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Q&A 43 © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Ben Hopkins, Product Marketing Mgr bhopkins@pentaho.com Nick Mehta, CEO nmehta@gainsight.com Tel. +1 415-525-5540 Tel. +1 510-336-0019 Tel. +1 408-623-2645 pentaho.com 44 Kevin Dobbs, CEO kevin.dobbs@montclare.com montclare.com gainsight.com © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555
  • Thank You JOIN THE CONVERSATION. YOU CAN FIND US ON: blog.pentaho.com @Pentaho 45 Facebook.com/Pentaho Pentaho Business Analytics © 2013, Pentaho. All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-7555