Dreamforce 13: Engage with Intelligence to Retain for Life

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This is a Dreamforce '13 presentation from our session on how to engage customers for life. This presentation highlights how companies can and are using data to help identify opportunities and engage with customer at the right moments to drive adoption and renewals.

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Dreamforce 13: Engage with Intelligence to Retain for Life

  1. 1. Engage with Intelligence to Retain for Life Richard Campione, Board Member & President ServiceSource Doug Schmitt, VP & GM Global Support & Delivery Dell
  2. 2. If you’re feeling social… @ServiceSource @campione @Dell #RecurringRevenue #DF13 #Renew 1
  3. 3. “The more you engage with customers the clearer things become and the easier it is to determine what you should be doing.” -John Russell, President, Harley Davidson 2
  4. 4. Engage with Intelligence + = Coming back for more 3
  5. 5. Especially important in the new economy Old Economy New Economy • More choice • Everything-as-a-service • Try-before-you-buy • Lower switching costs Supplier: Build, Sell, Ship 4 Customer: Pull Differentiation through service, adoption and delivering customer value
  6. 6. Customer data reflects the customer journey hard to leverage for engagement & renewal Market Marketing Automation Web 5 Sell Implement SFA Project Mgt Finance Accounting Billing Support Service Usage #DF13 insight: @ServiceSource says the key for renewals is having a high touch, high engagement sales model. #recurringrevenue Renew
  7. 7. Recurring revenue presents different challenges than new revenue New revenue Recurring revenue • Discovery driven process • Handful of opportunities per quarter • Hundreds of opportunities per quarter • Timeline is open ended 6 • Can’t even start without data • Perishable: driven by expiration #DF13 insight: @ServiceSource says comparing new sales to #renewals is like comparing Twinkies to bananas – they’re fundamentally different
  8. 8. Companies forced to solve with people and XLS ERP Recurring Revenue Customer Engagement CRM Accounting Marketing Billing HR CPQ Order Mgt Entitlement Manufacturing Supply Chain 7 SFA Channel Commerce Service
  9. 9. Renewal reps spend more time pulling data than talking to customers SFA (n) PRM CRM SERVICE QUOTE ENTITLEMENT ASSETS ORDER ERP Admin: >50% Selling to Customers: <50% 8 #DF13 insight: @ServiceSource says renewals sales reps spend < 50% of their time selling due to time spent gathering and prepping data
  10. 10. Superior results require intelligence: optimise timing and grouping of opportunities Current State • Data is frequently inaccurate and incomplete • Renewals assumed to “just happen” – no optimising timing for quarter results • Simple processing of contracts: FIFO or sort by total dollar$ 9
  11. 11. Superior results require intelligence: optimise timing and grouping of opportunities A → A’ A Better Way • Accurate data and guided selling • Renewals managed as perishable assets A →A+B • Optimise grouping at asset level for upsell and cross sell • Accelerate timing: pull forward into present quarter for improved results A+B→C COTERMINATE 10
  12. 12. The problem is bigger than just data… it’s the high volume of perishable opportunities $30B Problem It’s a timing problem 11 It’s a volume problem #DF13 insight: @ServiceSource says $30B in #recurringrevenue slips through the cracks every year due to untapped renewal opportunities
  13. 13. Cloud app for recurring revenue management ERP CRM Accounting HR Marketing Billing Order Mgt Entitlement CPQ Manufacturing Supply Chain SFA CPQ Sales Execution Channel Actionable Insight Commerce Renewal Ready Data Service Enabling Data-Driven Optimization for Recurring Revenue 12
  14. 14. Focus on best ways to engage Follow-up on these actions Close these deals to exceed target Run a save play 13 Engage with these customers now
  15. 15. Guide reps through the playbook What’s Happening? Headline on deal status What has happened? Quickly review prior deal activity What should I do? Targeted sales plays and how to run 14
  16. 16. Intelligence drives what to offer and when Right offers at the right time Recommended up-sell 15 Complete view of customer installed base
  17. 17. Know more, sell more, keep more… We enable you Data Services Professional Services Selling Services We do it for you 16 Enablement Services 15pt improvement in renewal rates 20% increase in sales productivity #DF13 insight: @ServiceSource says with #cloud platform #Renew OnDemand, renewals sales productivity is increased by an average of 20%
  18. 18. The market leader in Recurring Revenue Management Software Hardware Networking Healthcare & Life Science New Markets (XaaS) $9B+ under management 10 OF THE TOP 15 F100 Technology-Based Companies 7 OF THE TOP 10 Software as a Service Companies 6 OF THE TOP 6 4 OF THE TOP 5 17 Enterprise Network Storage Companies Integrated Systems Vendors 13 years Expertise & focus 47 seconds A renewal is closed
  19. 19. Engagement with Intelligence + = Coming back for more 89% -> 100% 18
  20. 20. Dell reinventing customer experience 19
  21. 21. Doug Schmitt VP & GM Global Support & Delivery Richard Campione Board Member & President, Cloud & Data Services 20
  22. 22. "In 2012, we began an effort to simplify every aspect of the customer relationship. If successful, we believe this initiative will make it easier for customers to do business with Dell, eliminating friction and complexity and enabling more rapid response to customer needs.” -Michael Dell (April 2013) 21
  23. 23. To learn how you can gain intelligence about your customers, improve customer engagement and increase renewal rates by 15 pts Visit our booth: #N1423 22
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