The Age of the Customer, 2018
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Dan Steinman's presentation at CXO, VP & Directors of SAAS Firms Seminar hosted by Intrinsic Executive Research. Do you want to know why everyone is talking about Customer Success? Is everyone really moving to a recurring revenue model? Does anyone actually know how to help me through this transition? Here is a unique chance to see what one of the world's leading experts, Dan Steinman, GM of Gainsight EMEA, thinks about the topic.
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The Age of the Customer, 2018
- 1. Dan Steinman
- 3. Dan Steinman Insert Photo Golden Rule Treat others as you would like to be treated Success for All We are in this together and our success is tied to yours Childlike Joy Find the joy in each moment Stay Thirsty Always striving to innovate Shoshin Approach situations with the Beginner’s Mind VP of Customer Success VP of Customer Success Chief Customer Officer Chief Evangelist General Manager, EMEA
- 4. • In the beginning • Changing business models • ROI of Customer Success • Customers as a Growth Engine • Organization and Leadership • Customer Success in Practice What I’ll Be Discussing
- 7. Question #1 1. In theTV show “SiliconValley”, who runs the incubator? A. Richard Hendrix B. Big Head C. Erlich Bachman D. Gavin Belson
- 8. Question #1 1. In theTV show “SiliconValley”, who runs the incubator? A. Richard Hendrix B. Big Head C. Erlich Bachman D. Gavin Belson
- 9. Insert Photo Customer Success Everybody’s Talking About It Tech Go-to-Market: Make Customer Success a Cornerstone of Your Customer Experience Strategy Customer Success Management is the Key to Outstanding B2B Customer Experiences Grow Fast or Die Slow: Focusing on Customer Success to Drive Growth How Smart, Connected Products Are Transforming Companies
- 10. Insert Photo Customer Success Everybody’s Talking About It Tech Go-to-Market: Make Customer Success a Cornerstone of Your Customer Experience Strategy Customer Success Management is the Key to Outstanding B2B Customer Experiences Grow Fast or Die Slow: Focusing on Customer Success to Drive Growth How Smart, Connected Products Are Transforming Companies So how can a midsize manufacturer “break on through to the other side” …? Their best bet is to take a page out of the SaaS vendors’ playbook and deploy a customer success function. - Geoffrey Moore
- 12. • TheProductEra • Demandexceedssupply • Focusonthesupplychain • Sixsigma • Internetchangeseverything • SystemsofRecord • SAP,Oracle,Cisco,Microsoft,Intel • B2BenablesB2C • CustomerSupport • Theas-a-ServiceEra • Supplyexceedsdemand • Focusonthecustomer • Userexperiencedesign • Cloud+Mobilechangeseverything • SystemsofEngagement • Salesforce,Amazon,Apple,Microsoft • B2CenablesB2B • CustomerSuccess The Seismic Shift from Product to Services - Geoffrey Moore
- 13. CUSTOMERS BEFORE CUSTOMERS TODAY The only source of competitive advantage is the one that can survive technology-fueled disruption — an obsession with understanding, delighting, connecting with, and serving customers. WELCOMETOTHE AGE OFTHE CUSTOMER
- 14. Customer Success is being driven by changing business models
- 15. Question #2 2. Which actor/actress has appeared in the most episodes of “Made in Chelsea”? A. Spencer Matthews B. Jamie Laing C. LouiseThompson D. Binky Felstead
- 16. Question #2 2. Which actor/actress has appeared in the most episodes of “Made in Chelsea”? A. Spencer Matthews B. Jamie Laing C. LouiseThompson D. Binky Felstead
- 20. Wave 4: Consumption CUSTOMER SUCCESSSALEPRODUCT
- 22. THE BAR FOR CUSTOMER SUCCESS WILL KEEP GOING UP Logistics Transactions Subscriptions Consumption Outcomes
- 23. The ROI of Customer Success is also evolving
- 24. Question #3 3. According to the musical “Hamilton”, Alexander Hamilton was? A. An immigrant B. Scotsman C. An orphan D. All of the above
- 25. Question #3 3. According to the musical “Hamilton”, Alexander Hamilton was? A. An immigrant B. Scotsman C. An orphan D. All of the above
- 26. Churn Level 1
- 29. CUSTOMER SUCCESS DRIVES NEW BUSINESS SALES Because your prospects are talking to your customers
- 30. CUSTOMER SUCCESS DRIVES NEW BUSINESS SALES "Success begets success in terms of customer deployments and having truly happy customers, and I think we're starting to see a 'network effect' of companies talking to each other and comparing notes on which solutions work, and which ones don't." Aneel Bhusri CEO,Workday
- 31. Pricing Level 4
- 32. CUSTOMER SUCCESS DRIVESYOUR ABILITYTO RAISE PRICES
- 33. ALL WRAPPED IN ADVOCACY ADVOCACY ChurnExpansion Pricing Acquisition
- 34. ASYOU MATURE,YOUR FOCUS WILL CHANGE MATURITY Churn Expansion Acquisition Pricing
- 35. 86% 89% 89% 95% 13% 13% 16% 22% 117% 105%102%99% Customer Success Maturity Avg. Gross Retention % Avg. Expansion Rate % Avg. Net Retention %
- 36. Customers asYour New Growth Engine
- 37. Question #4 4. In theTV show “SiliconValley”, the incubator is in what California city? A. Menlo Park B. Palo Alto C. Sunnyvale D. San Francisco
- 38. Question #4 4. In theTV show “SiliconValley”, the incubator is in what California city? A. Menlo Park B. Palo Alto C. Sunnyvale D. San Francisco
- 39. In the Age of the Customer, you can no longer acquire your way to success ADAPT OR DIE
- 40. BECAUSE ACQUISITION IS EXPENSIVE
- 41. WHILE EXPANSION AND RETENTION ARE NOT
- 42. In the Age of the Customer, Net Retention is the most important metric in your business
- 43. 100% -9% -11% +13% +18% 111% Starting Churn Downsell Upsell Cross- Sell Net Retention Expansion THE RECURRING REVENUEWATERFALL
- 44. RETENTION IS MORE IMPORTANTTHAN EVER
- 45. BECAUSETHAT’SWHERETHE REVENUE COMES FROM Installed Base New Business
- 46. BECAUSETHAT’SWHERETHE REVENUE COMES FROM
- 47. Lead
- 48. Lead Opportunity
- 53. Your customers are the new GROWTH ENGINE
- 56. Question #5 5. Who wonThe Great British Bake-Off 2017? A. Sophie B. Katie C. Paul D. Steven
- 57. Question #5 5. Who wonThe Great British Bake-Off 2017? A. Sophie B. Katie C. Paul D. Steven
- 58. HOW SHOULD WE ORGANIZE?
- 59. ORGANIZETO • Make a statement of importance
- 60. ORGANIZETO • Make a statement of importance • Create healthy tension
- 61. ORGANIZETO • Make a statement of importance • Create healthy tension • Benefit your customers, not you
- 62. ORGANIZETO • Make a statement of importance • Create healthy tension • Benefit your customers, not you • Provide clear accountability
- 63. Leadership
- 64. Leadership • Willingness to get her hands dirty
- 65. Leadership • Willingness to get her hands dirty • Customer-facing experience
- 66. Leadership • Willingness to get her hands dirty • Customer-facing experience • Process/data-oriented
- 67. Leadership • Willingness to get her hands dirty • Customer-facing experience • Process/data-oriented • Influence management
- 68. Building Blocks of a Customer Success Program
- 69. Question #6 6. In theTV show “The Big BangTheory”, what nickname did the guys give to Stephen Hawking? A. Robot B. Physicsman C. The Brain D. Wheels
- 70. Question #6 6. In theTV show “The Big BangTheory”, what nickname did the guys give to Stephen Hawking? A. Robot B. Physicsman C. The Brain D. Wheels
- 71. Customer Success in Practice Small # of customers Long tail of customers High Value MidValue LowerValue
- 74. Why SegmentYour Customers? Because you can’t afford to treat them all alike
- 75. Your segmentation model is actually a financial model
- 76. Typical Segmentation Model • How much are they paying you? • How much could they be paying you? • Optional - Industry/Brand/? Don’t overthink it! 3 2 1
- 77. TechTouch MidTouch High Touch Each Segment = DifferentTouch Model
- 78. TechTouch MidTouch High Touch Create an Engagement Model by Segment Map The Engagemen t Model
- 79. Kickoff Meeting Strategy Alignment / Discovery Health Check Onboarding Close Meeting End User Survey Renewal Preparation Renewal Negotiation Contract Signature Contract Expiry Proactive (Date-driven) Welcome Email 1:Many Training Modules Onboarding CSAT Survey Exec Business Review Low Adoption Detractor NPS Survey Multiple Support Tickets Champion Leaves Decline in Usage Increase in usage Positive NPS Survey 90% Deployed Adopt Expand/RenewOnboardLand 1:1 Touch = Blue 1:M Outreach = Purple Risk = Red Opportunity = Green Reactive (Data-driven) MAP THE CUSTOMER LIFECYCLE
- 80. TechTouch MidTouch High Touch Your Engagement Model Will DriveYour Headcount Model H E A D C O U N T Map The Engagement Model
- 81. TechTouch MidTouch High Touch Establish RetentionTargets by Segment H E A D C O U N T Establish Retention Targets Map The Engagement Model
- 82. CustomerSuccess in Practice 1. Segmentyourcustomers
- 83. CustomerSuccess in Practice 1. Segmentyourcustomers 2. Buildanengagementmodelforeachsegment
- 84. CustomerSuccess in Practice 1. Segmentyourcustomers 2. Buildanengagementmodelforeachsegment 3. Use engagementmodeltodriveheadcountmodel
- 85. CustomerSuccess in Practice 1. Segmentyourcustomers 2. Buildanengagementmodelforeachsegment 3. Use engagementmodeltodriveheadcountmodel 4. Createretentiontargetsforeachsegment
- 86. A Simple Model SALES Manage Measure Results ££ (Bookings/Revenue)PipelineActivities that grow/move pipe Customer Success ££ (Net Retention)Health ScoreActivities that improve HS • Training sessions • QBRs • Calls
- 88. Question #7 7. In the Portuguese translation of the Customer Success book, which author’s name appears first? A. Nick Mehta B. Dan Steinman C. Lincoln Murphy D. BenWatkins
- 89. Question #7 7. In the Portuguese translation of the Customer Success book, which author’s name appears first? A. Nick Mehta B. Dan Steinman C. Lincoln Murphy D. BenWatkins
- 92. Why hire 10 reps when you can hire 10K customers to sell for you?
- 95. “We’re a little bit different than most companies…”
- 96. CustomerSuccessTrends 1. CustomerSuccessdrivesSales 2. Becomingprescriptive 3. CSisacompanywidepriority
- 97. Everyone Else… Responsible for “Customer Success” It must be their fault…
- 98. CS = CO + CX
- 99. CS > CSM
- 100. Everyone is in Customer Success
- 101. CustomerSuccessTrends 1. CustomerSuccessdrivesSales 2. Becomingprescriptive 3. CSisacompanywidepriority 4. TeammatesuccessdrivesCS
- 102. The Profession Is Growing
- 104. You Can’t Be Customer- DrivenWithout Being Teammate Driven
- 108. In a world where the Sales motion never ends, there’s no such thing as post-Sales WORDS OF WISDOM
- 109. The primary driver of our success is the customer’s success? WHAT IF?
- 110. Q&A