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When Customers Win, You Win: How to Deliver Value That Transforms Your Customer Experience
- 5. Where do you focus?
- 6. This valuable session enables you to: • Articulate what neuroscience has to do with customer onboarding • Move from a transactional focus to partnering with new customers • Deliver customer value to transform their business and yours ©Donna Weber. All rights reserved.
- 7. Recognized Customer Success Leader & Strategist Award Winning Author Adventurer About Customer Onboarding Expert, Donna Weber Best Seller!
- 8. What got you here won’t get you to the next level. I help high growth companies: • Transform new & existing customers into loyal champions • Increase NRR • Scale Customer Onboarding & Success • Decrease time to first value • Maximize customer lifetime value • Accelerate product usage and adoption
- 9. © 2019 Springboard Solutions Lagging indicators • ↑ Renewal rates 20% to 150% • ↑ Net retention: buy 4 to 8x more • ↑ Total lifetime value Leading indicators • ↓ Time to first value • ↑ Product usage >20% • ↑ Achieved outcomes >50% • ↑ NPS & CSAT >15% • ↑ Services revenue • ↓ Internal support costs • ↑ Recurring revenue The Impact Copyright Springboard In LLC
- 11. Customer fail to launch ©Donna Weber. All rights reserved. Do your customers fail to launch?
- 12. Are customers ghosting you?
- 13. Source: Baremetrics B2B software trough of disillusionment Are customers falling into the Trough of Disillusionment?
- 14. ©2018 Springboard Solutions. All rights reserved. [Photo Credit: Jaren Wilkey/BYU Photo] How are you relying on heroics?
- 15. Poor Onboarding is the Main Cause of Churn Causes of Churn
- 16. The Customer Success Bowtie
- 17. “When customers adopt quickly, they renew forever” ~Mark Ralls, Vista Equity
- 18. What does neuroscience have to do with Customer Onboarding?
- 19. Wired to resist.
- 20. The Neuroscience of Customer Onboarding
- 21. ● Buyer’s remorse ● Prospection ● Confirmation bias
- 22. ● Cognitive closure ● Start with the familiar ● Continuity ● Visual images ● Small talk
- 23. How to Build Trust Provide clear endings & beginnings 01 Help buyers know what happens after the deal closes 02 Get to know the people you work with 03 Help customers adopt your product 04 Copyright Springboard In LLC
- 25. We work with people, not companies.
- 26. ©Donna Weber. All rights reserved. Show the journey ahead
- 27. The Orchestrated Onboarding™ Framework
- 28. Create a success plan ©Donna Weber. All rights reserved.
- 29. Increase transparency & communication
- 30. ©Donna Weber. All rights reserved. Take complete ownership
- 31. ©Donna Weber. All rights reserved. Deliver value quickly
- 32. Switch on value drip Source: Baremetrics B2B Phased Approach
- 33. Customer Success is like gong to the gym
- 34. “Improving customer journeys requires an operational & cultural shift that engages the organization across functions from top to bottom. The reward is higher customer and employee satisfaction, revenue & cost improvements, & an enduring competitive advantage.” ~ McKinsey
- 35. Go Deeper ©Donna Weber. All rights reserved.
- 36. How will you transform your customer’s business?
Editor's Notes
- Thank you for investing time today to learn why your customer onboarding is critical to your success. Customer onboarding is so much more than going live with your product and driving adoption. The truth is, onboarding is the most important part of the customer journey. When you set positive first impressions, establish trusting relationships, and quickly deliver meaningful outcomes, you create customers for life. I will share insights and practical tips to help you achieve your growth goals – this year and in the long-term. This valuable session will help you: Learn what neuroscience has to do with customer onboarding Move from a transactional focus to partnering with new customers Deliver customer value to transform their business and yours
- I’m the world’s leading expert in customer onboarding. I wrote Onboarding Matters because customer onboarding is a mess. Too many companies ignore their customers. I want to change that. Even though Customer Success is an established function, companies continue to miss the target during the crucial beginning of the customer relationship. For more than two decades, I’ve helped high-growth startups and established enterprises to create customers for life. And when I’m not driving customers to value. I enjoy adventuring in the great outdoors. This is me kayaking the rapid Troublemaker on the American River in California.
- Ready to create customers for life? Hi, my name Donna Weber. I work with high growth companies to help them maximize customer value. Because when customers win, you win. It’s that simple.
- Here’s the impact I see with companies I work with. This is why you win when your customers win. McKinsey: The reward is higher revenue, customer & employee satisfaction, & cost improvements; & an enduring competitive advantage.
- Spacex spectacular fails
- Are you haunted by customers that don't appear at meetings or respond to your calls? Are you plagued by customers that don't fulfill their required tasks during onboarding? Don't despair. After this webinar your customers will materialize and accomplish what's needed for successful onboarding and beyond. You'll learn how to make use of people, processes, and technology to turn ghosts into devoted customers
- Are your customers falling into the trough of disillusionment? This trough of disillusionment is based on Gartner Hype cycle for new innovations. You start with high expectations, which are quickly followed by deflated interest as new technology fails to deliver. This image shows the high expectations when deals are sold. But then customers fall into the trough when deployments are long and delayed. How long are implementations at your company? The thing is, Customers are most excited to be successful with your product at the very beginning. They don’t want to fall into the trough of disillusionment. Customers quickly become frustrated, overwhelmed, and disengaged. And that’s no way to start a new relationship. Curaytor: Marketing platform for real estate agents Bootstrapped company with 50 employees, 500 customers. $10M ARR at the beginning of this year, growing by 50% to $15M ARR 4 to 6 weeks to deploy the platform. clients are confused, overwhelmed, frustrated. CSMs have to work double hard to win back the trust and relationship. Paused and canceled payments during onboarding alone cost them over a $100K a year.
- How are you relying on heroics? At my former company Jaspersoft, we threw expensive technical experts at accounts that were on fire. We parachuted in teams to save accounts just before they were up for renewal. Charging in to save customers feels good for a time, due to adrenaline rushes and high fives from colleagues and executives, but exhaustion eventually sets in. Experts across the company are drained, morale drops, and burned-out professionals head off to calmer climates. Does this sound familiar? Consider the overhead you spend to save accounts at all costs. I realized we spent triple the license value trying to save these accounts in the eleventh hour. Of course, the assumption is when you fix problem customers, those customers will stick around. Customer Success expert Greg Daines, finds reactive heroics rarely work. His data from thousands of companies shows that in reality saved accounts are 50 percent less likely to renew than customers who never needed rescuing in the first place
- I often see companies declare they are customer-centric, yet the majority of their customers are engaged during the last 90 days of their license. Driving adoption up front is critical because first year churn is often due to failure to launch. With CAC you can’t afford to not onboard your customers. And the reality is, 100% of your customers need to be onboarded. Yet, even though onboarding is vital, it's the main cause of churn. When you add up these onboarding related factors, more than half your customers will churn. How much is churn costing you? With CAC first year churn leaves you in a death spiral. Can’t acquire to make up for all that loss. Costing business in the USA alone $136B / year. Vaadin: Finish startup, open source java developer platform. CSMs so busy chasing renewals in the last 30 days. No time to focus on onboarding. When we dug into the numbers, the majority of customers churned in the first 90 days = 53% churn, half of that in first 30 days. Failure to launch.
- Onboarding is the most important part of the customer journey because . . . Customer success bowtie Buyer journey: sophisticated sales and marketing engine that drives customers along the journey, providing the right content to the right user at the right time. And measuring every step along the way. Measured by data driven insights. Customer journey: ad hoc and reactive hope as a strategy that customers reach their success outcomes, siloed customer facing teams, and you use hope as a strategy that customers get value from your product. Teams are siloed. They wait until customers have problems Support teams and technical experts work overtime trying to dig them out of these problem places when they should never have been in the first place. But when you quickly guide customers to success, you create enduring relationship that last. You go beyond the initial sale to the expansion and referral sales and 50 to 80% of your revenue is from existing customers. Vison: sophisticated customer journey
- My name is Donna Weber, and I believe the renewal happens in the first 90 days. “When customers adopt quickly, they renew forever” Get customers onboarded and engaged, you are at the beginning of a mutually lucrative relationship. Would you like customers that renew forever? Type Yes into the chat.
- Examples at Jaspersoft Every year failed change costs billions of dollars. We are biologically wired to resist change: it’s the key to our survival and the obstacle that often gets in the way of us fulfilling our potential. You just closed a deal with an important customer and are excited to get started. Things are good, right? Not necessarily, when you know what’s lurking beneath the surface of your customer’s brains. You might also face internal resistance When you most expect customers to be excited about your product, do meet resistance instead? They delay meetings, are a challenge to connect with, won’t follow your onboarding plan? If so, type Yes in the chat. The reason might be due to the inner workings of the brain. Ed Powers, Vice President of Client Success and Marketing at InteliSecure, and a key figure on the Denver Customer Success scene, enlightened me on the neuroscience of customer interactions and how a good or bad onboarding experience could impact your customer relationship forever. Type in what kind of resistance you see.
- Let’s explore why those customer relationships are so important. The beginning of a customer relationship directly affects the final outcome Even though our customers might appear to be a rational and logical people, the parts of their brains activated during the beginning of the relationships are those that deal with fear and value. As a result, people don’t perceive the beginning of relationships objectively. Faced with uncertainty, the brain sets the first and most impactful cognitive anchor upon which all subsequent learning is based. That’s why first impressions matter Neurobiology predisposes people to automatically place more importance on first impressions. Confirmation bias Neuroscience offers intriguing insights into why starting on the right foot is critical for reducing churn and for building customer loyalty. First is confirmation bias, which is the split-second first judgements we all have. Buyers’ remorse The next way customer’s brain impact onboarding is through buyers’ remorse. Buyers’ remorse is “the sense of regret after having made a purchase. It is frequently associated with the purchase of an expensive item such as a vehicle or real estate but could happen with something as insignificant as an ice cream cone. It’s hard to tell when it will strike. When your thoughts are spinning about making a wrong choice, it means buyer’s remorse has set in. Some 82% of people report feeling regret or guilt over a purchase — $10B worth of goods, collectively. Prospection. A mental process called prospection happens when we make complex value-based decisions. We imagine how we will think or feel in the future as a result of our decisions. Our brains goes into prospection when we anticipate that fantastic vacation coming up. Your customers brains prospect during the sales process when they buy your products. The predicament is that the brain doesn’t stop anticipating when the vacation starts and when the contract is signed. Instead, it creates stories about what happens next. You run through scenarios to confirm your expectations and your fears. And you do this indefinitely until there’s a reason to stop. It seems the more involved you are with a purchase, the more intense your potential regret will be. Consider the personal risk your buyers make when they select your product over all the choices they have; their decision could put their reputation on the line. TRUST Cognitive closure. When you don’t know how to proceed with something you run through scenarios to confirm your expectations and fears. You worry whether you made the right decision. That’s why you need cognitive closure. Cognitive closure is the “stopping mechanism” that applies “brakes” to the validating process, and allows crystallized judgments to form.” Continuity. Continuity helps people build trust and get on board with what’s next. Continuity starts even before the contract is signed, when the sales team brings in the post-sales team to establish a baseline relationship built on assuredness and confidence. Visual images: The brain processes images more easily and faster than words. So, use images, especially when communicating complex topics with your customers. Small talk: While it might seem trivial, small talk is an invaluable tool for building trust. So take a few moments during handoff and kickoff meetings to connect to the real people using your product. Their brains will be thankful. Ask about their families, upcoming vacations, and where they live. I prepare for meetings with new people by investigating LinkedIn for shared connections or interests—their location, where they went to school, activities they enjoy. Then I use this information to get the conversation started. For example, in preparing for a recent meeting, I noticed my contact’s LinkedIn profile showed an image of him hanging out on the top of Half Dome, the legendary granite dome in the east end of Yosemite Valley. Since I had also hiked Half Dome, I even spent the night on top, I started the conversation discussing our shared passion.
- Let’s explore why those customer relationships are so important. The beginning of a customer relationship directly affects the final outcome Even though our customers might appear to be a rational and logical people, the parts of their brains activated during the beginning of the relationships are those that deal with fear and value. As a result, people don’t perceive the beginning of relationships objectively. Faced with uncertainty, the brain sets the first and most impactful cognitive anchor upon which all subsequent learning is based. That’s why first impressions matter Neurobiology predisposes people to automatically place more importance on first impressions. Confirmation bias Neuroscience offers intriguing insights into why starting on the right foot is critical for reducing churn and for building customer loyalty. First is confirmation bias, which is the split-second first judgements we all have. Buyers’ remorse The next way customer’s brain impact onboarding is through buyers’ remorse. Buyers’ remorse is “the sense of regret after having made a purchase. It is frequently associated with the purchase of an expensive item such as a vehicle or real estate but could happen with something as insignificant as an ice cream cone. It’s hard to tell when it will strike. When your thoughts are spinning about making a wrong choice, it means buyer’s remorse has set in. Some 82% of people report feeling regret or guilt over a purchase — $10B worth of goods, collectively. Prospection. A mental process called prospection happens when we make complex value-based decisions. We imagine how we will think or feel in the future as a result of our decisions. Our brains goes into prospection when we anticipate that fantastic vacation coming up. Your customers brains prospect during the sales process when they buy your products. The predicament is that the brain doesn’t stop anticipating when the vacation starts and when the contract is signed. Instead, it creates stories about what happens next. You run through scenarios to confirm your expectations and your fears. And you do this indefinitely until there’s a reason to stop. It seems the more involved you are with a purchase, the more intense your potential regret will be. Consider the personal risk your buyers make when they select your product over all the choices they have; their decision could put their reputation on the line. TRUST Cognitive closure. When you don’t know how to proceed with something you run through scenarios to confirm your expectations and fears. You worry whether you made the right decision. That’s why you need cognitive closure. Cognitive closure is the “stopping mechanism” that applies “brakes” to the validating process, and allows crystallized judgments to form.” Continuity. Continuity helps people build trust and get on board with what’s next. Continuity starts even before the contract is signed, when the sales team brings in the post-sales team to establish a baseline relationship built on assuredness and confidence. Visual images: The brain processes images more easily and faster than words. So, use images, especially when communicating complex topics with your customers. Small talk: While it might seem trivial, small talk is an invaluable tool for building trust. So take a few moments during handoff and kickoff meetings to connect to the real people using your product. Their brains will be thankful. Ask about their families, upcoming vacations, and where they live. I prepare for meetings with new people by investigating LinkedIn for shared connections or interests—their location, where they went to school, activities they enjoy. Then I use this information to get the conversation started. For example, in preparing for a recent meeting, I noticed my contact’s LinkedIn profile showed an image of him hanging out on the top of Half Dome, the legendary granite dome in the east end of Yosemite Valley. Since I had also hiked Half Dome, I even spent the night on top, I started the conversation discussing our shared passion.
- Let’s explore why those customer relationships are so important. The beginning of a customer relationship directly affects the final outcome Even though our customers might appear to be a rational and logical people, the parts of their brains activated during the beginning of the relationships are those that deal with fear and value. As a result, people don’t perceive the beginning of relationships objectively. Faced with uncertainty, the brain sets the first and most impactful cognitive anchor upon which all subsequent learning is based. That’s why first impressions matter Neurobiology predisposes people to automatically place more importance on first impressions. Confirmation bias Neuroscience offers intriguing insights into why starting on the right foot is critical for reducing churn and for building customer loyalty. First is confirmation bias, which is the split-second first judgements we all have. Buyers’ remorse The next way customer’s brain impact onboarding is through buyers’ remorse. Buyers’ remorse is “the sense of regret after having made a purchase. It is frequently associated with the purchase of an expensive item such as a vehicle or real estate but could happen with something as insignificant as an ice cream cone. It’s hard to tell when it will strike. When your thoughts are spinning about making a wrong choice, it means buyer’s remorse has set in. Some 82% of people report feeling regret or guilt over a purchase — $10B worth of goods, collectively. Prospection. A mental process called prospection happens when we make complex value-based decisions. We imagine how we will think or feel in the future as a result of our decisions. Our brains goes into prospection when we anticipate that fantastic vacation coming up. Your customers brains prospect during the sales process when they buy your products. The predicament is that the brain doesn’t stop anticipating when the vacation starts and when the contract is signed. Instead, it creates stories about what happens next. You run through scenarios to confirm your expectations and your fears. And you do this indefinitely until there’s a reason to stop. It seems the more involved you are with a purchase, the more intense your potential regret will be. Consider the personal risk your buyers make when they select your product over all the choices they have; their decision could put their reputation on the line. TRUST Cognitive closure. When you don’t know how to proceed with something you run through scenarios to confirm your expectations and fears. You worry whether you made the right decision. That’s why you need cognitive closure. Cognitive closure is the “stopping mechanism” that applies “brakes” to the validating process, and allows crystallized judgments to form.” Continuity. Continuity helps people build trust and get on board with what’s next. Continuity starts even before the contract is signed, when the sales team brings in the post-sales team to establish a baseline relationship built on assuredness and confidence. Visual images: The brain processes images more easily and faster than words. So, use images, especially when communicating complex topics with your customers. Small talk: While it might seem trivial, small talk is an invaluable tool for building trust. So take a few moments during handoff and kickoff meetings to connect to the real people using your product. Their brains will be thankful. Ask about their families, upcoming vacations, and where they live. I prepare for meetings with new people by investigating LinkedIn for shared connections or interests—their location, where they went to school, activities they enjoy. Then I use this information to get the conversation started. For example, in preparing for a recent meeting, I noticed my contact’s LinkedIn profile showed an image of him hanging out on the top of Half Dome, the legendary granite dome in the east end of Yosemite Valley. Since I had also hiked Half Dome, I even spent the night on top, I started the conversation discussing our shared passion.
- Cognitive closure Continuity Small talk Change management
- User adoption. No license to renew.
- I developed the Orchestrated Onboarding framework over the course of several years, working with companies from across the world. While their products and industries are disparate, their problems remain the same. Whether providing big data or open-source solutions, manufacturing or accounting software, compliance, supply chain management, content management, learning management, customer management, or Customer Success systems—there is a constant need to engage and enable customers. Onboarding ≠ implementation Establish trusting and enduring relationships from day one Quickly drive customers to value Decrease onboarding, implementation, and support costs Increase lifetime value Seamless, proactive and Rx journey for customers, break down silos in customer facing organization. Clearwave Remember that company I told you about suffering from special snowflake syndrome? The results of orchestrating their onboarding: Nearly 3/4M a year in increased revenue and decreased costs. Does that sound appealing to you?
- Success plan Success outcomes Roles and responsibilities Risks and how to address Communication plan First value
- Partner for success Leverage onboarding tools research shows people want relationships. technology and products are more and more commodities and the relationships are the differentiators. high, low, and tech touch. consumer revolution over the last decade. customers are in charge now. consumers have control. want connection. even more so these days. your customers own you. reviews. even large companies are made up of people, who are consumers in their lives, looking for these experiences.
- Drive customers to first value. In a subscription economy, customers invest less initial time and money up front. And you don’t have their full commitment until you prove value in your product. Customers no longer tolerate delays, frustrations, and long implementations. You can’t afford to have them fall in the trough of disillusionment. So, let’s explore first value. First value: The moment when customers first realize the value of your product. The magic or ‘aha’ moment. Facebook: 10 friends First value must be meaningful for the customer. Not an internal measure. And the shorter your sales cycle, the faster you better get customers to first value. Example: mobile app. Need aha moment within about 90 seconds First value can be transformational for your company. Curaytor: Value discussions led to exploring ways to deliver value from day one. Rather than leaving customers frustrated and wallowing in the trough of disillusionment. So, we brought the founders and execs together and learned what customers experience before during the buyer journey and the customer journey are like two different companies. Is that the case at your company? We learned that what really sets them apart from their competitors, is not their platform, which was what they marketed and sold. What sets them apart is their thought leadership. Their exclusive community, and strategic coaching CSMs provide. Moved CSM engagement from after the deployment, 4 to 6 weeks after the deal closed, to the moment the contract is signed. Tech touch: welcome email, access to exclusive content and community, link to form to gather important data to migrate. Plus a link to their new CSM calendar to start coaching in week 1. Now they gain strategic skills working with their CSM, while the platform is being built out behind the scenes. And there’s no more trough The impact of focusing on first value affects not just onboarding, but how the company packages, markets, and sells their products. We’ll spend time together on this topic this afternoon at the Roundtable
- Switch on value drip. Every time you deliver value to your customers, they get an endorphin hit. They celebrate their new relationship with you rather than cursing you from the trough of disillusionment. . Consider this: Rather than pushing for an all-encompassing go live, move to phased deployments, which generate momentum, rather than kill it. Start simple and build momentum Three Examples: MiniCRM Hungary and Romania, 50 employees, over 2K customers; customers are small businesses CRM platform. Their customers are so overwhelmed with all the possible ways to use and customize this platform, they often don’t get any value at all. We explored ways to drive their customers to initial value in the CRM system. With such a short sales cycle 10 days, customers don’t tolerate waiting months to go live. While the first value approach was helpful, the real change came when the company moved away from selling and implementing their infinitely adaptable platform to selling and implementing distinct products. Customers now grasp just what they purchased and reach value in weeks rather than months. For this CRM company, focusing on customer value, quick wins, and phased deployments was all encompassing. It changed how they develop, market, sell, and onboard their product. And now they have infinite opportunities for upsells and expansions. 25% increase if first year retention from this change. Strikedeck: Provides two environments for new customers: a basic production environment, as well as a staging environment. Users quickly get to work in the production environment, while at the same time consultants integrate the staging environment with their data sources. When the staging environment is approved, the two environments are merged. Jaspersoft since the implementation was a long process, we set up prototypes to highlight functionalities most valuable to the customer’s project for our first quick wins.
- Building a relationship, not a transaction.
- In the article From Touchpoints to Journeys, McKinsey shares that even though customer-facing programs might be fabulous, customers still leave unsatisfied because they aren’t guided along a journey of best practices, their experience is ad hoc and fragmented.
- Download my success plan template Next level coaching
- So don’t dwell on the technology, make sure you have impact. Provide immediate value and Value along the customer journey How will you transform your customers’ business? Not just go live with your product?
- Time for questions and answers. I’m happy to sign your copy of Onboarding Matters.