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LSA19: Creating a Purpose Driven Culture

  1. Creating a Purpose Driven Culture Wendi Sturgis CEO, Yext Europe and Chief Client Officer #LSA19
  2. Purpose Local Search Association February 25th, 2019
  3. WENDI STURGIS CEO, Yext Europe, Chief Customer Officer @wendicsturgis Today’s Presenter
  4. Company
  5. ‘80s / ‘90s: PCs ‘90s / ‘00s: Internet ‘00s / ‘10s: Mobile, Cloud NOW: Conversation & AI
  6. AI services provide structured answers Blue Links
  7. A new channel for customer engagement 1st –Party Web Traffic 73% of high-intent traffic is going to new services Search, Maps, Directories, Voice, Chat Study of 20,107 business locations conducted by Yext in February 2017. “High-intent traffic” represents mobile searches for nearby businesses.
  8. 20162015 201820142012201020082006200420022000199819961994 20172013201120092007200520032001199919971995 More customer interaction points than ever with new consumer services Print 1440 CONNECTED CARS SOCIAL MOBILE WEB GPS SEARCH EMAIL WEBSITE ECOMMERCE CRM CONNECTED HOME CHAT VOICE MOBILE APPS MOBILE MAPS MOBILE FIRST AR / VR
  9. Web Direct Channels Search, Maps, Directories Chat Voice Digital Knowledge Management (DKM)
  10. Digital Knowledge Management Drives Customer Success ENGAGE CUSTOMERS IN THE LAST MILE IMPROVE WCM PERFORMANCE DRIVE REVENUE FROM MICRO-EXPERIENCES 14.45x ROI from online orders 15% OF ORGANIC ORDERS from local pages 63% MORE ACTIONS like Get Directions and Clicks-to-Call 186% MORE CLICKS to website 44% MORE TRAFFIC to doctor pages on 174% MORE IMPRESSIONS for Qdoba, Comcast, and Steward metrics were computed by the customer in whole or in part without involvement or verification by Yext. Qdoba returns reflect the value of online orders in October 2017 relative to the cost of the Yext product; historical value of online orders attributable to the channels prior to the implementation of Yext products have not been excluded. Comcast percentage measured as of Fall 2017; Steward percentage increase measured in the five months since implementation of the Yext product. CorePower Yoga, VRG, and Denny’s percentages were computed by Yext and represent increases over the 18 months, 9 months, and 2 years since the implementation of the Yext product, respectively. These metrics are illustrative only and may not represent the experience of any other current or future customer and are not a guarantee of results. All or a portion of returns or percentage increase may be attributable to factors other than Yext’s products such as general economic or industry conditions or other customer initiatives.
  11. Web Chat Voice Marketing HR Real Estate OperationsCMS CRM Direct Channels Search, Maps, Directories
  12. Team
  13. We set a goal to be the best CS team EVER in NYC
  14. Customer Success Purpose: Results Metrics Values NPS 65-72 Gross Retention 90%+ Employee Turnover <10%
  16. What are the values that define how we work with Clients? • Responsive, thorough, detail-oriented, and proactive • Advocates, trusted consultants, and experts • Get it done mentality • Go-to-person for all needs • Innovative • Problem solvers and solutions focused • Confident • Client-centric at all times • Creative and willing to customize • Empowering
  17. An Incomplete List of Tactical Actions We Can Take • Focus on knowledge sharing • Being present - paying attention in trainings, being on site with clients • Communicate clearly • Ask for help • Set expectations - both internally and externally • Utilize tools at hand - gainsight, chatter, etc. • Be diligent with record keeping
  18. CUSTOMER SUCCESS PURPOSE Successful and happy Customers, that simple. Amplified Message of those successful and happy customers. Boom! At Yext that includes: Customer Advocacy Customer Engagement Customer Education
  19. Customer Success Purpose: Customer Advocacy • What is Customer Advocacy? • Customers or agencies who publicly support or recommend your brand’s offerings • Why is Customer Advocacy Important? • Longer partnerships – increase in customer health • Increased revenue – revenue growth influenced by advocates and upsells • Increase Yext awareness through word of mouth by telling colleagues and people outside of work Powerful case studies and references during sales cycle Attract new customers Retain customers Increase customer lifetime value “83% of satisfied customers are willing to refer products and services, but only 29% actually do” -Wharton Business School
  20. Customer Success Purpose: Customer Advocacy Activity Impact CAB • Launched Yext’s first Client Advisory Board of 14 clients • Sounding board for Product, Beta Tests, User Community Sales References • Large, Global set of Customer Advocates Earnings Call References • Implemented process to collect client permission to mention company on public quarterly earnings calls Customer Showcases / Case Studies • Customer Showcases Live on Website • 100+ Case Studies referencing Customers & Facts
  21. Customer Success Purpose: Customer Engagement (Always On NPS) Differences • Cadence (Monthly vs. Manual effort every 6 months) • Target customers (Segmented by start date vs. all clients) • Number of questions (One vs. Six) NPS Program • Rolling ‘Always On’ Approach • Monthly Survey to segment of clients • Send single NPS Question (See Above) semi-annually to each client: • One at 3 months (Post Implementation) • One at 9 months (Pre-Renewal) Impact • Monthly Cadence will enable more contextual feedback • Feedback at targeted points in the customer life cycle • Scalable process requires less heavy lifting on regular basis
  22. What Our Customers Say “Truth be told the enormity of what Yext offers is not something that the folks within our four walls have the bandwidth to focus on. We had to find a vendor who’d be our watch dog for us — hold our hand, ensure we are doing the right things,” says Dillon. “Yext has done that for us, and then some. Everyone on the team from top to bottom is fantastic.” “The service element of what Yext offers is a really big deal. From the beginning, Yext’s team showed such a willingness to help me solve my core problems,” praises Stahl. “They are forward-thinking and consistently go above and beyond to make sure we are optimizing our local presence and identifying potential opportunities for improvement. We rarely have to ask the questions because they continually anticipate what we’re looking for.” “The team at Yext has been great to work with! Any time I run into a problem with Facebook, a duplicate listing, or an issue with a publisher, I let them know and they take care of it immediately,” says Reinhardt. “They really have been an extension of what I do for KOA local marketing, without my having to hire another employee.”
  23. Customer Success Purpose: Results Metrics Values NPS 65-72 Gross Retention 90%+ Employee Turnover <10%
  24. You.
  25. My Inspiration
  26. Dale Carnegie: What’s Old is New Again 1. Become genuinely interested in other people. ... 2. Smile. ... 3. Remember that a person's name is, to that person, the sweetest and most important sound in any language. ... 4. Be a good listener. ... 5. Talk in terms of the other person's interest. ... 6. Make the other person feel important – and do it sincerely.
  27. The Little Things 1.Be Kind to Everyone 2.Honest 3.Take an Hour a Week to Help Others 4.Walk the Talk 5.Own Mistakes in Totality
  28. Selling Through Curiosity with Barry Rhein A few key things that have made us more human: • You have to earn the right of a relationship • Put the time in • RBE efforts • True intellectual curiousity