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The Secret to Rapid Growth in Any Market: Take your company to the next level with Customer Success

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Presented at Resultados Digitais RD Summit in Brazil
October 2015

The Secret to Rapid Growth in Any Market: Take your company to the next level
with Customer Success

Published in: Business
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The Secret to Rapid Growth in Any Market: Take your company to the next level with Customer Success

  1. 1. THE SECRET TO RAPID GROWTH IN ANY MARKET Lincoln Murphy, Founder, Sixteen Ventures Customer Success Strategist, Gainsight Take your company to the next level with Customer Success Presented at:
  2. 2. Lincoln Murphy @lincolnmurphy
  3. 3. For a Deep-Dive on Customer Success http://sixteenventures.com/rdsummit
  4. 4. Gol!!!! Copyright © 2015 Sixteen Ventures. All rights reserved.
  5. 5. “The purpose of business is to create and keep a customer.”
  6. 6. The initial sale is critical, but it’s just the tip of the iceberg
  7. 7. What is Customer Success? Copyright © 2015 Sixteen Ventures. All rights reserved.
  8. 8. Customer Success is when your customers achieve their Desired Outcome through their interactions with your company. Copyright © 2015 Sixteen Ventures. All rights reserved.
  9. 9. Copyright © 2015 Sixteen Ventures. All rights reserved.
  10. 10. Why is Customer Success something you should care about? Copyright © 2015 Sixteen Ventures. All rights reserved.
  11. 11. David Skok Matrix Partners http://www.forentrepreneurs.com/why-churn-is-critical-in-saas/ Customer Success Drives First-order Growth
  12. 12. Source: http://www.saastr.com/its-not-just-cltv-its-your-trgcltv-that-matters-total-all-in-revenue-generated-by-your-customer/ Customer Success Drives Second-order Growth
  13. 13. 0x 5x 15x 20x EV/RevenueMultiple Dollar Net Renewal Rate 60% 70% 80% 90% 100% 110% 120% Source: Altimeter and FactSet 10/2014 10x 7X 15X CSM Drives Third-order Value
  14. 14. It’s too important to be thought of as “post-sale” or be left to chance. Copyright © 2015 Sixteen Ventures. All rights reserved.
  15. 15. How is Customer Success different than what most companies normally do? Copyright © 2015 Sixteen Ventures. All rights reserved.
  16. 16. Copyright © 2015 Sixteen Ventures. All rights reserved.
  17. 17. Copyright © 2015 Sixteen Ventures. All rights reserved.
  18. 18. Customer Success is Transformational 1. Acquire the Best Customers 2. Engage & Deliver Value Quickly 3. Expand Their Investment 4. Mobilize your Advocates 5. Retain & Renew Customers Copyright © 2015 Sixteen Ventures. All rights reserved.
  19. 19. 1. ACQUIRE THE RIGHT CUSTOMERS Copyright © 2015 Sixteen Ventures. All rights reserved.
  20. 20. Ready Willing Able Acquisition Efficiency Success Potential Expansion Potential Advocacy Potential Copyright © 2015 Sixteen Ventures. All rights reserved. Ideal Customer Profile
  21. 21. Ideal Customer Profile Ready Willing Able Acquisition Efficiency Success Potential Expansion Potential Advocacy Potential Copyright © 2015 Sixteen Ventures. All rights reserved.
  22. 22. Success Potential • Only Acquire Customers with Success Potential • Technical Fit • Functional Fit • Experience Fit • Support Fit Copyright © 2015 Sixteen Ventures. All rights reserved.
  23. 23. Use Customer Success to influence your Marketing and Sales Copyright © 2015 Sixteen Ventures. All rights reserved.
  24. 24. “Enter the conversation already taking place in your customer’s mind.” – Robert Collier Copyright © 2015 Sixteen Ventures. All rights reserved.
  25. 25. “Enter the conversation already taking place in your customer’s mind.” – Robert Collier, c1937 Copyright © 2015 Sixteen Ventures. All rights reserved.
  26. 26. Copyright © 2015 Sixteen Ventures. All rights reserved. Customer Success = Their Desired Outcome
  27. 27. Copyright © 2015 Sixteen Ventures. All rights reserved. Customer Success = Their Desired Outcome
  28. 28. 2. ENGAGE & DELIVER VALUE QUICKLY Copyright © 2015 Sixteen Ventures. All rights reserved.
  29. 29. Success Milestones are the steps required for a customer to achieve their ever-evolving Desired Outcome. Copyright © 2015 Sixteen Ventures. All rights reserved.
  30. 30. Copyright © 2015 Sixteen Ventures. All rights reserved.
  31. 31. 3. EXPAND THEIR INVESTMENT Copyright © 2015 Sixteen Ventures. All rights reserved.
  32. 32. Copyright © 2015 Sixteen Ventures. All rights reserved. “Customers that take an upsell offer stay longer” - McKinsey & Company
  33. 33. Copyright © 2015 Sixteen Ventures. All rights reserved.
  34. 34. Copyright © 2015 Sixteen Ventures. All rights reserved. Customer Lifetime Value is the Key Metric
  35. 35. 4. MOBILIZE YOUR ADVOCATES Copyright © 2015 Sixteen Ventures. All rights reserved.
  36. 36. Copyright © 2015 Sixteen Ventures. All rights reserved. “Customers that come in through advocacy stay longer and buy more.” - McKinsey & Company
  37. 37. Copyright © 2015 Sixteen Ventures. All rights reserved. “Customers that advocate for you become stronger customers themselves.” - Influitive
  38. 38. Copyright © 2015 Sixteen Ventures. All rights reserved.
  39. 39. 5. RETAIN & RENEW CUSTOMERS Copyright © 2015 Sixteen Ventures. All rights reserved.
  40. 40. Copyright © 2015 Sixteen Ventures. All rights reserved. When Customer Success is operationalized around Desired Outcome-based Success Milestones, renewals become a non-issue… renewals just happen.
  41. 41. WHAT ABOUT CHURN? Copyright © 2015 Sixteen Ventures. All rights reserved.
  42. 42. For a Deep-Dive on Customer Success http://sixteenventures.com/rdsummit
  43. 43. “The purpose of business is to create and keep a customer.”
  44. 44. Lincoln Murphy @lincolnmurphy
  45. 45. For a Deep-Dive on Customer Success http://sixteenventures.com/rdsummit

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