New CMO Mandate: Customer Lifecycle Marketing

Editor's Notes

1. Start with a BLAST!!!!!Hi, and thank you all for coming. I’d like to talk to you today about Customer Lifecycle Marketing. Before I start, I’d like to introduce myself. I’m Guy Nirpaz, Founder and CEO of Totango.
2. We’re a young company based out of Palo Alto, California and our data scientists team are based out of Israel.Our customer base are leading enterprise software and SaaS companies worldwide.
3. So, why customer lifecycle marketing?
4. Decided it would be best to keep this slide simple instead of puttingVarious quotes up. -KristinaSome quotes to use for this in a Dropbox file: https://docs.google.com/a/totango.com/document/d/1opuY7lEfWqD2vwF_aNtrn1DrtH3nyfapvkkj8Rf7VzE/edit#We could also talk about the rise of the Chief Customer Officer: http://blog.totango.com/2012/10/chief-customer-officer-roundup-of-articles/There is a big movement to being customer centricMessageonthis slideThe world has changedCustomer centric enterprise.Customer eraDesign around your customersJeanne Bliss – Chief Customer OfficerCEO Groupon – serve customerConsumer blog – baseball, students – retain, Customer retention, So much of revenue comes from existing customers not
5. Decided it would be best to keep this slide simple instead of puttingVarious quotes up. -KristinaSome quotes to use for this in a Dropbox file: https://docs.google.com/a/totango.com/document/d/1opuY7lEfWqD2vwF_aNtrn1DrtH3nyfapvkkj8Rf7VzE/edit#We could also talk about the rise of the Chief Customer Officer: http://blog.totango.com/2012/10/chief-customer-officer-roundup-of-articles/There is a big movement to being customer centricMessageonthis slideThe world has changedCustomer centric enterprise.Customer eraDesign around your customersJeanne Bliss – Chief Customer OfficerCEO Groupon – serve customerConsumer blog – baseball, students – retain, Customer retention, So much of revenue comes from existing customers not
6. Wanted to keep this slide simple as well, speaker can expand on what makes customers loyal and profitable. –KristinaLifecycle marketing is the art of creating loyal and profitable customers, to retain and grow customer revenues – which includes, but is not limited to, generating new leads, opportunities and revenues from the installed base as well as staunch advocates who refer new customers (word of mouth through social media or otherwise).
7. So how can you retain and grow customers?How can you create happy and loyal customer.
8. Be pro-activeIn one work go from being re-active to being pro-active about customersListen to customer events in real-time Turn that into signals of risk (churn) or opportunity (sale) and take the right customer action at the right time, every time.We will look at each of these in more details.
9. Methodology: listen-understand-engageThe first step in being pro-active is to listen to your customer.Especially in the digital age, customers leave their digital footprints over the web.Most interactions are digital.The usage of your product might be digital, or partially digital.If you are a software company it’s all digital.If you are FedEx an increasing part is digital, ordering and creating shipping labels, tracking a shipment, etc.A customer may call the help desk which gets recorded in a digital system as well or make a purchase which too is recorded by software in a database and so on.If you monitor these customer events in real-time and collect all these customer events in one single database, you can learn a lot.You turn these customer events into predictive signals using analytics and predict who will buy more and who might leave you.You can also use automation to make sure that every customer facing employee takes the right action with the right customer at the right time, every time.Let’s look a bit further.
10. Leading indicators, not lagging Meaningful business events in real-timeDigital Inter-actions and trans-actionsAnd predictive analysis to find signals for when to take actionsRisks and opportunities
11. Several doctors browsingiphone app for MRI machine – sales opportunity
12. Stopped using bills online / fewer bills – different bank and different meansCredit card – another one had better points
13. Research databaseCertain database and bring to their attention other productsLinkedin – doing a lot of search (advanced search features)
14. Prioritized call list for hunters (sales)support (customer success)farmers (account management)
15. Methodology: listen-understand-engage – used this for slide image since we talk about examples next. -KristinaThe first step in being pro-active is to listen to your customer.Especially in the digital age, customers leave their digital footprints over the web.Most interactions are digital.The usage of your product might be digital, or partially digital.If you are a software company it’s all digital.If you are FedEx an increasing part is digital, ordering and creating shipping labels, tracking a shipment, etc.A customer may call the help desk which gets recorded in a digital system as well or make a purchase which too is recorded by software in a database and so on.If you monitor these customer events in real-time and collect all these customer events in one single database, you can learn a lot.You turn these customer events into predictive signals using analytics and predict who will buy more and who might leave you.You can also use automation to make sure that every customer facing employee takes the right action with the right customer at the right time, every time.Let’s look a bit further.