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How to Create a Customer Success Charter

Accelerate customer success and recurring revenue growth with a clear mission, goals and execution roadmap.

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How to create a customer success
charter
Accelerate customer success and recurring revenue growth
with a clear mission, goals and execution roadmap
June 2015
Michele Ballinger
Product Marketing
ServiceSource
Initial
Sale Retention
+ Renewal
Upsell +
Cross-Sell
Onboarding +
Adoption
ServiceSource Confidential Information
Revenue Lifecycle Management
Drive business transformation with this
five-step diagnostic approach to recurring
revenue growth:
1. Define a revenue lifecycle and
customer success charter
2. Conduct a revenue lifecycle assessment
3. Benchmark to the RLM Maturity Model
4. Identify gaps aligned to strategy and
goals
5. Develop an action plan and prioritize
Retaining and growing revenue from existing customers
ServiceSource Confidential Information
Customer Success Charter Guide and Workbook
Complete workbook to help you create a compelling revenue
lifecycle management business case.
ServiceSource Confidential Information
Failing to plan is planning to fail …
ServiceSource Confidential Information
ServiceSource Confidential Information
“How do we accelerate time-to-first-value and
deliver on our brand promise?”
“How do we organize around our customer and
maximize retention?”
“How do we optimize business processes to lower the
cost to serve, retain and expand customers?”
ServiceSource Confidential Information
Market experts report that product investments are being redirected
to customer experience innovations.
“How do we design agile processes that are
ultra responsive to customer needs?”
ServiceSource Confidential Information
Customer
A holistic, customer-centric approach accelerates success
Product
Management
Customer
Marketing
Customer
Success
Account
Management
Customer
Support
Your customer success charter should not
solely focus on your customer success team!

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How to Create a Customer Success Charter

  • 1. How to create a customer success charter Accelerate customer success and recurring revenue growth with a clear mission, goals and execution roadmap June 2015 Michele Ballinger Product Marketing ServiceSource
  • 2. Initial Sale Retention + Renewal Upsell + Cross-Sell Onboarding + Adoption ServiceSource Confidential Information Revenue Lifecycle Management Drive business transformation with this five-step diagnostic approach to recurring revenue growth: 1. Define a revenue lifecycle and customer success charter 2. Conduct a revenue lifecycle assessment 3. Benchmark to the RLM Maturity Model 4. Identify gaps aligned to strategy and goals 5. Develop an action plan and prioritize Retaining and growing revenue from existing customers
  • 3. ServiceSource Confidential Information Customer Success Charter Guide and Workbook Complete workbook to help you create a compelling revenue lifecycle management business case.
  • 4. ServiceSource Confidential Information Failing to plan is planning to fail … ServiceSource Confidential Information
  • 5. ServiceSource Confidential Information “How do we accelerate time-to-first-value and deliver on our brand promise?” “How do we organize around our customer and maximize retention?” “How do we optimize business processes to lower the cost to serve, retain and expand customers?” ServiceSource Confidential Information Market experts report that product investments are being redirected to customer experience innovations. “How do we design agile processes that are ultra responsive to customer needs?”
  • 6. ServiceSource Confidential Information Customer A holistic, customer-centric approach accelerates success Product Management Customer Marketing Customer Success Account Management Customer Support Your customer success charter should not solely focus on your customer success team!
  • 7. ServiceSource Confidential Information Customer success is a result. Your customer success charter defines the path to achieve that result … ServiceSource Confidential Information
  • 8. ServiceSource Confidential Information Customer success charter blueprint 7 ➤ Charter statement ➤ Mission and vision ➤ Objectives, goals and success measures ➤ Executive leader, team composition, roles and responsibilities ➤ Charter roadmap ➤ Risk analysis and assessment ➤ Communication plan
  • 9. Writing a charter statement
  • 10. ServiceSource Confidential Information An introduction to the charter that provides context for all stakeholders, including: – Why a RLM initiative is needed – Problem(s) that will be solved – Alignment to business strategy – Expected business impact – Cost not to solve What is the charter statement?
  • 11. ServiceSource Confidential Information Key questions to answer • What questions are being asked by executive leadership? • What are current results or metrics? – Churn, retention, attrition rates – Cost of customer acquisition, retention, expansion – Renewal, cross-sell, upsell revenue • What are the most significant problems? • What business goals are being impacted due to the current state of business? • What is the expected business impact? • What is the cost of not implementing the charter?
  • 12. ServiceSource Confidential Information Example charter statement A Revenue Lifecycle Management transformation initiative is being formed to organize our business around the customer to maximize customer lifetime value and grow recurring revenue. The historic approach has undermined the company’s ability to cost-effectively deliver on our brand promise to our customers. This is resulting in high customer churn (over 15%), low renewal yield due to heavy discounting, CAC over 6k, CRC over 3k, and a CEC of 3k per upsell and 1k per cross-sell. Execution of a new customer success charter will result in significant operational efficiencies that will lower our cost to serve by 20% and increase recurring revenue by 15%. This initiative will help us achieve our 2016 revenue goals, as well as improve the roll-out of new mobile services to our customers. If we do not move forward with this initiative, then we will continue to lose $500,000 a year due to inefficient processes, customer churn and missed revenue opportunities.
  • 13. Defining your customer success mission and vision
  • 14. ServiceSource Confidential Information What are the mission and vision statements? These statements will be used across the company to communicate what you are going to achieve. • Vision statement – Outlines the desired future state – Inspirational “north star” • Mission statement – Succinct overview of the charter, defining: • What it does • Who it does it for • How it does what it does
  • 15. ServiceSource Confidential Information Key questions to answer • For writing a vision statement (craft a future state): – What will communicate an image of the future that will make people feel connected to the transformation? – What exciting possibilities will the charter unlock for the company? For individuals? – Is the vision statement easy for people to repeat? • For writing a mission statement: – What teams will be impacted by the charter? – What do people need to know to understand how their job contributes to achieving the vision? – Can the mission be articulated by all employees?
  • 16. ServiceSource Confidential Information Example mission and vision statement Failing to plan is planning to fail… Vision We lead the global educational services industry through innovation, expertise and by providing a seamless customer experience that delivers measureable business results and exceeds the expectations of our customers. Mission We deliver high-quality educational content that provides measurable business results to colleges and universities world-wide. We orchestrate customer success across all teams to provide a seamless customer experience that results in long-term and profitable customer relationships.
  • 17. Setting goals, objectives and success measures
  • 18. ServiceSource Confidential Information Interested in learning more about the final steps? Click here to access the full webinar!

Editor's Notes

  1. In our webinar last month, Ryan Warren and I introduced Revenue Lifecycle Management and the ServiceSource Maturity Model. If you missed the webinar, you can view it via the replay available on servicesource.com. During the webinar we introduced 5 steps that will help you drive business transformation and get on the fast track to recurring revenue growth. In today’s webinar we are going to focus on step 1: Defining a customer success charter. Define a Revenue Lifecycle and Customer Success Management Charter—What is our vision, goals, objectives and success criteria and how do we eliminate silos and communicate a company-wide RLM strategy? Conduct a Revenue Lifecycle Assessment – What are we doing today in different teams, what does the customer journey look like and what are our current processes? Benchmark to a RLM Maturity Model – How do we stack up in each area against the maturity model? Identify gaps aligned to strategy and goals – Which processes and activities should we worry about? Develop an Action Plan and Prioritize—Where should we start and how do we execute?
  2. The difficulty in answering these questions is due to the fact that you are busy running a team that is focused on a core set of objectives and deliverables. This is true whether you are a part of customer success, marketing, sales or account management, support, product management or even finance! You are all working to deliver an extraordinary customer experience at the lowest possible cost. But each department has their own challenges, goals, and processes. If teams are pulling in different directions, the result for your customer is an awful experience. Creating a Customer Success Charter ensures that everyone across the company understands the customer journey and their role in the customer experience. It ensures that customer-centricity is part of your corporate DNA, and not just a buzz-word.
  3. Because after all, we ALL know that failing to plan is planning to fail.
  4. Now I know that focusing on customer success or your customer experience is not new to a majority of you on the phone. Most of you are charged with running a customer success team. You are being asked some tough questions by your executive leadership team, as they look to redirect funding towards customer experience innovations. As the head of customer success you are viewed as the expert – even if you don’t own the entire customer relationship or have the authority to change processes outside of your team. Your leaders want to know … “How do we organize around our customer and maximize retention?” There are some key questions that go along with this seemingly straight forward questions. Such as who owns the customer relationship? If you don’t have a chief customer officer, then most likely multiple leaders are charged with individual components of the revenue lifecycle. We will discuss this a bit more in a minute. Other critical questions are around delivering on your brand promise, lowering cost to serve – including Customer acquisition and support costs, but also around the cost to retain a customer and the cost of expansion. And don’t forget the questions that delve into how quickly can you expand or contract customer-facing teams, and how quickly can you change processes, services, and delivery based on changing market and customer requirements.
  5. The difficulty in answering these questions is due to the fact that you are busy running a team that is focused on a core set of objectives and deliverables. This is true whether you are a part of customer success, marketing, sales or account management, support, product management or even finance! You are all working to deliver an extraordinary customer experience at the lowest possible cost. But each department has their own challenges, goals, and processes. If teams are pulling in different directions, the result for your customer is an awful experience. Creating a Customer Success Charter ensures that everyone across the company understands the customer journey and their role in the customer experience. It ensures that customer-centricity is part of your corporate DNA, and not just a buzz-word.
  6. Note that I said that creating a Customer Success charter ensures that everyone across the company understands the customer journey and their role in the customer experience. Your Customer Success Charter should not focus on a Customer Success Team. It needs to focus on Delivering measurable business results to your customers.
  7. A successful Customer Success Charter will ensure that executive leadership will be able to identify the business impact and key elements of creating successful customers at a glance. It is important to note that your customer success charter is different from a typical team charter, as you are not just construction a project, but a business transformation initiative, so you also need to consider change management and quality improvement, as part of the charter. Charter Statement: the first item stakeholders are going to want at a glance is why are we transforming our customer success business processes. Therefore the first part of your charter needs to create the urge support for the transformation. It helps to outline the former business processes and demonstrate what is wrong. Is it costly? Is the customer experience inconsistent? Is your churn rate too high? If you can demonstrate urgency, business impact, and ROI, then your charter is more likely to be approved.
  8. Truly organizing around the customer experience requires a business transformation, which requires buy-in from your executive leadership team. Even if you have executive support and the right questions are being asked the extent of changes that are required may complex and overwhelming. And although overall business transformation is the appropriate course of action, you will need to provide an at-a-glance statement to justify why significant change and substantial financial results can only be achieved with a holistic organizational approach. The Charter Statement is the introduction to and provides context around the charter. It outlines why a Revenue Lifecycle Management initiative needs to be created, the problem (s) that need to be solved, how the initiative is aligned to the greater business strategy, the expected business impact, and the cost not to solve the problems. An introduction to the charter that provide context for all stakeholders, including: - Why a RLM Initiative is needed - Problem(s) that will be solved - Alignment to business strategy - Expected business impact - Cost not to solve
  9. These statements will be used across the company to communicate what you are going to achieve. Without a clear mission and vision, individuals and teams can too easily get side-tracked and focus on their own agendas verses the overarching goal. The vision outlines the desired future state or “north star” that encourages people to get behind the transformation and alignment of resources. The mission statement provides a succinct overview of what the charter will do, for who, and how the expected business impact will be achieved.