How do you know if your product-led expansion strategy is working? Learn how to apply product acquisition, adoption, retention, and expansion metrics in PLG.
Is your customer success team delivering real value ?Gainsight
If you’re a Customer Success leader, your biggest fear is that despite your efforts, you aren’t delivering real value to your customers. How can you be sure?
In this webinar Allison will discuss:
How to align your Customer Success team with key accounts
The benefits of Success Plans to create workflows for every scenario. A strategic process to achieve predictable value delivery
Ensure you’re delivering the value your customers expect.
The Onboarding and Training Playbook for Big CustomersGainsight
By Denise Stokowski, VP of Client Solutions at Gainsight
Emilia D’Anzica, VP CSM at WalkMe
Glenn Oclassen, SVP Customer Success at Replicon
Presented at Pulse Conference 2015.
Customer Success is one of the most influential tools in your toolbox and a staple of successful organizations -- but should you charge for it?
Learn the answer and more on Join Nick Mehta, CEO of Gainsight, and Omid Razavi, SaaS Customer Success & Services Advisor, as they discuss:
- If and when you should charge for customer success
- How to create a customer success pricing plan
- How to tier your customer success services
Setting up a successful customer success strategy starts with knowing your customer, tailoring your product to suit their needs and offering it at a price where value is truly understood. Can't attend live? Register anyway and you'll receive a copy of the recording afterward.
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation - Customer Success for Ad Tech - is from Pulse 2014, the biggest Customer Success industry event ever and included panelists from PubMatic, RocketFuel, Lotame, LiveRamp.
Learn how to use Gainsight to prep for, conduct, and follow through on effective Executive Business Reviews. In this session, a Gainsight CSM will take you through how to use success plans to streamline your EBR process.
Is your customer success team delivering real value ?Gainsight
If you’re a Customer Success leader, your biggest fear is that despite your efforts, you aren’t delivering real value to your customers. How can you be sure?
In this webinar Allison will discuss:
How to align your Customer Success team with key accounts
The benefits of Success Plans to create workflows for every scenario. A strategic process to achieve predictable value delivery
Ensure you’re delivering the value your customers expect.
The Onboarding and Training Playbook for Big CustomersGainsight
By Denise Stokowski, VP of Client Solutions at Gainsight
Emilia D’Anzica, VP CSM at WalkMe
Glenn Oclassen, SVP Customer Success at Replicon
Presented at Pulse Conference 2015.
Customer Success is one of the most influential tools in your toolbox and a staple of successful organizations -- but should you charge for it?
Learn the answer and more on Join Nick Mehta, CEO of Gainsight, and Omid Razavi, SaaS Customer Success & Services Advisor, as they discuss:
- If and when you should charge for customer success
- How to create a customer success pricing plan
- How to tier your customer success services
Setting up a successful customer success strategy starts with knowing your customer, tailoring your product to suit their needs and offering it at a price where value is truly understood. Can't attend live? Register anyway and you'll receive a copy of the recording afterward.
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation - Customer Success for Ad Tech - is from Pulse 2014, the biggest Customer Success industry event ever and included panelists from PubMatic, RocketFuel, Lotame, LiveRamp.
Learn how to use Gainsight to prep for, conduct, and follow through on effective Executive Business Reviews. In this session, a Gainsight CSM will take you through how to use success plans to streamline your EBR process.
Customer success requires a fundamental shift in the way you conduct business. Dan Steinman, CCO of Gainsight, worked with VPs of Customer Success across the technology industry to develop the 10 Laws of Customer Success. The 10 Laws of Customer Success represent the key focus areas all technology companies should be focusing on as they move towards a customer success model.
How Customer Success is Revolutionizing Open Source CompaniesGainsight
As companies demand more of technology, it’s no wonder why they turn to open source to help fill the gaps. Likewise, it’s not surprising that open source companies would turn to customer success to support these clients.
Join Jennifer Dearman, Director, Strategic Customer Engagement at Red Hat, Andy Knosp, VP of Services at Gainsight, and Dhaval Moogimane, Partner at Waterstone Management Group, to discover how customer success is revolutionizing the open source industry. In this 60 minute webinar we will discuss:
Why open source companies are adopting customer success
How to implement customer success in an open source company
Real-world examples of how Red Hat implemented customer success
Empowering Customer Success through Product FeedbackGainsight
What's the single biggest factor in whether or not a customer churns? Don't overthink it — it's whether or not the product is meeting their needs. But what's the biggest factor in whether or not your product is meeting your customers' needs? It's Customer Success. That means the relationship between Product and Customer Success is crucial for any recurring revenue business.
This webinar will feature Rahul Jain, Founder and VP of Customer Success at Pendo, and Guarav Kotak, Senior Director of Product at Gainsight. Together, they'll explore how to create a positive feedback loop between Customer Success and Product to improve both teams' metrics.
Customer Success Webinar Series: How to Align your Company Around an Onboardi...Gainsight
Customer onboarding can sometimes be considered an afterthought for organizations—leading to lengthy times to get up and running, under-educated customers and a general sense of dissatisfaction. Ensuring your customers are onboarded quickly and effectively is crucial to success, but also presents a number of unique challenges.
Hear some tips from the pros! Managers from Gainsight's Customer Success & Ops teams will share methods for hiring the best talent. What backgrounds and experience do you look for? What are some interview questions and how do you manage candidate pipeline?
Introducing Value3D – How Gainsight Discovers, Delivers, and Demonstrates ValueGainsight
Learn how Gainsight identifies business need during the sales cycle, delivers business value throughout the customer lifecycle, and demonstrates value to drive retention, expansion, and advocacy. Along the way, see how you can adapt the Value3D framework to drive customer success in your organization.
Forrester Research: How the Customer Success Industry is EvolvingGainsight
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation by Forrester Research - How the Customer Success Industry is Evolving - is from Pulse 2014, the biggest Customer Success industry event ever.
Customer success has revolutionized businesses in every industry, but what does customer success look like for the Ad-Tech industry? Join Ganesh Subramanian (Client Strategy, Gainsight) and Greg McLaughlin (Sr. Director of Business Operaitons , Appnexus) for this 60 minute webinar discussing:
Scaling Customer Success: Strategies for Account Segmentation Webinar SlidesAmity
Effective strategy in a SaaS business often means offering different service levels to different customer segments. However, it is often not obvious where to draw the lines. What are the right criteria to use for segmentation? What are the types of services to offer? How to organize to delivery these services economically?
Ed Powers and Joshua Robitaille will share their lessons learned developing the segmentation strategy used at SurveyGizmo today.
Make 2016 the Year You Conquer Customer SuccessGainsight
2016 is just around the corner — and that means it’s time to set your business New Year’s resolution for 2016. But why settle for one generic goal like reducing churn or raising upsell? Why not resolve to make 2016 the year your organization invests in your customers as a major business driver?
The keys to scaling your customer success programGainsight
Keys to Scaling Your Customer Success Program
In a recent Sandhill.com poll of Silicon Valley executives, many execs expressed concern over scaling their customer success teams while maintaining a high quality and personalized service experience for their customers. At Gainsight, we don’t believe scale and quality to be mutually exclusive.
There are 3 key areas of focus that can ensure companies achieve their customer success goals and realize the economies of scale that are so important to growing businesses. On June 25th at 10 am PDT, Lincoln Murphy, Customer Success Evangelist at Gainsight and world renowned SaaS expert, will show you how a customer success strategy focused on segmentation, automation, and documentation is key to scaling Customer Success. A customer success program that lacks strategic thinking in any of these areas is sure to fall short and unlikely to achieve scale or meaningful results.
In this 60 minute webinar on the keys to scale we will discuss:
- How can you implement automation without harming customer relationships?
- What is the right strategy to segment your customer base?
- Which process are important to document and which aren’t?
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
Deep-dive into Gainsight’s own 1:Many program. See how we leverage the right people, strategy and processes to communicate with customers and save CSMs time.
Mapping the Customer Journey with Engagement ModelsGainsight
Dan Steinman, GM of Gainsight EMEA, and Sue Nabeth Moore, Founder of Success Track Enterprise, discuss the role of engagement models in the process of mapping the customer journey.
Customer Success Webinar Series: How Automation is revolutionizing Customer S...Gainsight
As companies grow they inevitably have multiple customer segments to manage. The truth is, not all customers should be treated the same. A Customer Success strategy that scales uses technology to extend the reach of the Customer Success team in a way that still drives value for the customer. Embracing automation and 1:Many strategies is becoming a cornerstone of any mature Customer Success strategy.
Hiring: Structuring and Recruiting A Customer Success Team to ScaleGainsight
Speakers:
Tomasz Tunguz, Partner at Redpoint Ventures
Mike McKee, SVP, Services and Customer Success at Rapid 7
Boaz Maor, Head of Global Customer Success at Intel Mashery
Presented at Pulse Conference 2015.
The Missing Role from your Customer Success Org Chart: Customer Success Opera...Gainsight
Customer Success executives are realizing a new need for Customer Success Operations as a role in their organizations. As Customer Success become more mature, measurable, and process driven, there needs to be someone who is accountable for administering the programs and playbooks.
Customer Success Operations isn’t all that different from Sales Operations from a role perspective, but because CS Operations is an emerging role many teams are fighting an uphill battle to make the hire. Even after they secure the hire, a lot of teams struggle to hire the right candidate for the Customer Success Operations role. The Gainsight Customer Success team will walk you through the basics of Customer Success Operations and discuss why teams should consider hiring for this impactful role.
Customer success requires a fundamental shift in the way you conduct business. Dan Steinman, CCO of Gainsight, worked with VPs of Customer Success across the technology industry to develop the 10 Laws of Customer Success. The 10 Laws of Customer Success represent the key focus areas all technology companies should be focusing on as they move towards a customer success model.
How Customer Success is Revolutionizing Open Source CompaniesGainsight
As companies demand more of technology, it’s no wonder why they turn to open source to help fill the gaps. Likewise, it’s not surprising that open source companies would turn to customer success to support these clients.
Join Jennifer Dearman, Director, Strategic Customer Engagement at Red Hat, Andy Knosp, VP of Services at Gainsight, and Dhaval Moogimane, Partner at Waterstone Management Group, to discover how customer success is revolutionizing the open source industry. In this 60 minute webinar we will discuss:
Why open source companies are adopting customer success
How to implement customer success in an open source company
Real-world examples of how Red Hat implemented customer success
Empowering Customer Success through Product FeedbackGainsight
What's the single biggest factor in whether or not a customer churns? Don't overthink it — it's whether or not the product is meeting their needs. But what's the biggest factor in whether or not your product is meeting your customers' needs? It's Customer Success. That means the relationship between Product and Customer Success is crucial for any recurring revenue business.
This webinar will feature Rahul Jain, Founder and VP of Customer Success at Pendo, and Guarav Kotak, Senior Director of Product at Gainsight. Together, they'll explore how to create a positive feedback loop between Customer Success and Product to improve both teams' metrics.
Customer Success Webinar Series: How to Align your Company Around an Onboardi...Gainsight
Customer onboarding can sometimes be considered an afterthought for organizations—leading to lengthy times to get up and running, under-educated customers and a general sense of dissatisfaction. Ensuring your customers are onboarded quickly and effectively is crucial to success, but also presents a number of unique challenges.
Hear some tips from the pros! Managers from Gainsight's Customer Success & Ops teams will share methods for hiring the best talent. What backgrounds and experience do you look for? What are some interview questions and how do you manage candidate pipeline?
Introducing Value3D – How Gainsight Discovers, Delivers, and Demonstrates ValueGainsight
Learn how Gainsight identifies business need during the sales cycle, delivers business value throughout the customer lifecycle, and demonstrates value to drive retention, expansion, and advocacy. Along the way, see how you can adapt the Value3D framework to drive customer success in your organization.
Forrester Research: How the Customer Success Industry is EvolvingGainsight
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation by Forrester Research - How the Customer Success Industry is Evolving - is from Pulse 2014, the biggest Customer Success industry event ever.
Customer success has revolutionized businesses in every industry, but what does customer success look like for the Ad-Tech industry? Join Ganesh Subramanian (Client Strategy, Gainsight) and Greg McLaughlin (Sr. Director of Business Operaitons , Appnexus) for this 60 minute webinar discussing:
Scaling Customer Success: Strategies for Account Segmentation Webinar SlidesAmity
Effective strategy in a SaaS business often means offering different service levels to different customer segments. However, it is often not obvious where to draw the lines. What are the right criteria to use for segmentation? What are the types of services to offer? How to organize to delivery these services economically?
Ed Powers and Joshua Robitaille will share their lessons learned developing the segmentation strategy used at SurveyGizmo today.
Make 2016 the Year You Conquer Customer SuccessGainsight
2016 is just around the corner — and that means it’s time to set your business New Year’s resolution for 2016. But why settle for one generic goal like reducing churn or raising upsell? Why not resolve to make 2016 the year your organization invests in your customers as a major business driver?
The keys to scaling your customer success programGainsight
Keys to Scaling Your Customer Success Program
In a recent Sandhill.com poll of Silicon Valley executives, many execs expressed concern over scaling their customer success teams while maintaining a high quality and personalized service experience for their customers. At Gainsight, we don’t believe scale and quality to be mutually exclusive.
There are 3 key areas of focus that can ensure companies achieve their customer success goals and realize the economies of scale that are so important to growing businesses. On June 25th at 10 am PDT, Lincoln Murphy, Customer Success Evangelist at Gainsight and world renowned SaaS expert, will show you how a customer success strategy focused on segmentation, automation, and documentation is key to scaling Customer Success. A customer success program that lacks strategic thinking in any of these areas is sure to fall short and unlikely to achieve scale or meaningful results.
In this 60 minute webinar on the keys to scale we will discuss:
- How can you implement automation without harming customer relationships?
- What is the right strategy to segment your customer base?
- Which process are important to document and which aren’t?
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
Deep-dive into Gainsight’s own 1:Many program. See how we leverage the right people, strategy and processes to communicate with customers and save CSMs time.
Mapping the Customer Journey with Engagement ModelsGainsight
Dan Steinman, GM of Gainsight EMEA, and Sue Nabeth Moore, Founder of Success Track Enterprise, discuss the role of engagement models in the process of mapping the customer journey.
Customer Success Webinar Series: How Automation is revolutionizing Customer S...Gainsight
As companies grow they inevitably have multiple customer segments to manage. The truth is, not all customers should be treated the same. A Customer Success strategy that scales uses technology to extend the reach of the Customer Success team in a way that still drives value for the customer. Embracing automation and 1:Many strategies is becoming a cornerstone of any mature Customer Success strategy.
Hiring: Structuring and Recruiting A Customer Success Team to ScaleGainsight
Speakers:
Tomasz Tunguz, Partner at Redpoint Ventures
Mike McKee, SVP, Services and Customer Success at Rapid 7
Boaz Maor, Head of Global Customer Success at Intel Mashery
Presented at Pulse Conference 2015.
The Missing Role from your Customer Success Org Chart: Customer Success Opera...Gainsight
Customer Success executives are realizing a new need for Customer Success Operations as a role in their organizations. As Customer Success become more mature, measurable, and process driven, there needs to be someone who is accountable for administering the programs and playbooks.
Customer Success Operations isn’t all that different from Sales Operations from a role perspective, but because CS Operations is an emerging role many teams are fighting an uphill battle to make the hire. Even after they secure the hire, a lot of teams struggle to hire the right candidate for the Customer Success Operations role. The Gainsight Customer Success team will walk you through the basics of Customer Success Operations and discuss why teams should consider hiring for this impactful role.
Product-Led Growth has moved from a tactic / buzzword to a mainstream mindset for more and more SaaS companies.
So what is Product-Led Growth and what does it look like in a B2B SaaS company?
This talk will give an overview of 'PLG' and some key factors to address when becoming product led.
Building a sustainable business and product is hard work. Growing your user base is even harder. Markets and opportunities are changing on a daily basis; you have to stay focused and constantly improve your tactics in a rapidly-changing world in order to succeed.
The tactics that worked even a few short years ago are now obsolete. Iterative sprints leveraging mobile, social and location-based approaches and powered by data and insights, are required in order to thrive. Through rapid experimentation, you can find yourself in a healthy loop of building, testing, measuring, learning, refining and improving.
The Beginner’s Guide to Growth Hacking illustrates over two dozen insights that will help you grow your user base, keep them engaged and ultimately grow your revenues.
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Strategy creates context for operating decisions.
It establishes the playing field and provides guidance for decision-making, the experience and skills needed by employees, positioning of marketing and advertising, the priority of initiatives, how to structure the company, and a many other issues.
In developing strategy, leaders make conscious and informed choices about who they are and what they stand for:
–What are our core values and beliefs?
–What markets and customer groups will we serve?
–What products and services will we offer and how profitable is each one?
–What infrastructure, core processes and resources must we have to succeed?
–What competitive advantages will cause us to succeed?
–What core competencies must we have to fuel our growth?
–How will we sell our products and services?
–How will we market our products and services?
–What financial results will we achieve?
In this A to Z we will cover some of the main elements of business strategy and give you some tricks and tips along the way!
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According to the 2013 Lead Generation Marketing Effectiveness Study conducted by the Lenskold Group, 63 percent of companies that were outgrowing their competitors that year were using an integrated marketing automation system.
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Also Intelisync, our cutting-edge service designed to streamline and optimize your marketing efforts, leveraging data-driven insights and innovative strategies to drive growth and visibility for your project.
With a data-driven approach, transparent communication, and a commitment to excellence, InteliSync is your trusted partner for driving meaningful impact in the fast-paced world of Web3. Contact us today to learn more and embark on a journey to crypto marketing mastery!
Ready to elevate your Web3 project to new heights? Contact InteliSync now and unleash the full potential of your crypto venture!
Salma Karina Hayat is Conscious Digital Transformation Leader at Kudos | Empowering SMEs via CRM & Digital Automation | Award-Winning Entrepreneur & Philanthropist | Education & Homelessness Advocate
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- How to SHUT DOWN the revolving door of Income Stagnation… you know, where new sales come into your magazine while at the same time existing sponsors exit.
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#1 LEADS Don’t Book
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- Get actionable strategies you can use right away to improve your bookings, sales and retention.
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Reflect Festival Limassol May 2024.
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4 Customer Success Metrics to Inform Your Product-Led (Expansion) Growth Strategy
1. 1/11
August 2, 2021
4 Customer Success Metrics to Inform Your Product-Led
(Expansion) Growth Strategy
process.st/product-led-customer-success-metrics
Jane Courtnell
August 2, 2021
Reports indicate steady growth in CS functionality since 2013. And since the COVID-19
pandemic, this growth has substantially increased. In 2021, 76% of surveyed CS professionals
said they had a team consisting of more than 10 people. With this expansion comes the
development of CS as a discipline.
Welcome to the customer success era.
In this CS era, business focus is on customer experience. And when it comes to your product,
this means to show and let your customer try your offering. That is, be product-oriented to
drive product-led expansion.
In this Process Street article, we identify the 4 key customer success metrics you need to
develop your CS functionality. These metrics will inform your product-led growth strategy by
measuring acquisition, adoption, retention, and expansion. This article is structured as
follows:
2. 2/11
Let’s jump to it!
Understanding product-led growth and its benefits
Product-led growth (PLG) is a business methodology where user acquisition, expansion,
conversion, and retention are driven primarily by the product. The product provides the most
sustainable and scalable source of business growth.
Achieving product-led growth requires multi-departmental coordination. This means
aligning efforts delivered by teams in engineering, sales, marketing…you name it. The
product is central and brings teams together.
A PLG aims to provide easy product access to the customer. This could be by providing
freemium or free trial versions when possible, to get the prospects using the product quickly.
“[PLG]…is a capital-efficient model through which companies can scale quickly. – OpenView,
The Product Led Growth Playbook
The benefits of product-led growth
Being product-led brings the following benefits (as outlined by productled.org):
3. 3/11
Faster growth 🚀: PLG gives a customer easy and free access to the product right
away, lowering barriers to entry.
Cost reduction 💸: The product is the driving force behind acquisition, engagement,
retention, and expansion. Hence organizations can save huge sums traditionally spent
on scaling sales, marketing, and service efforts.
High-revenue diversity 💰: The PLG approach offers smaller deal sizes, giving a
higher revenue diversity, minimizing the impact of losing accounts.
A better product 💎: Consumer-grade products are designed requiring additional
forethought, empathy, and resources. This gives consumers a product they enjoy. In
turn, you get happier customers, higher customer satisfaction and NPS scores, and
improved customer lifetime values.
In case you’re still not convinced, analysis by OpenView reported PLG company value was
>30% than the public-market SaaS index fund.
“Product-Led Growth means that every team in your business influences the product. Your
marketing team will ask, “how can our product generate a demand flywheel?” Your sales team
will ask, “how can we use the product to qualify our prospects for us?” Your customer success
team asks, “how can we create a product that helps customers become successful beyond our
dreams?” By having every team focused on the product, you create a culture that is built
around enduring customer value.” – Allan Wille, Co-founder and CEO at Klipfolio
4 key product-led customer success metrics
As the saying goes…
“You can’t manage what you can’t measure.” – Peter Drucker, Management Consultant
To measure in business involves using key metrics. And there’s a seemingly endless list of
metrics marketing teams should track. Each metric has varying levels of accuracy. Common
metrics include lead volume, conversion, and engagement.
When thinking about metrics for PLG-focused businesses, what sets these businesses apart is
that they aren’t solely focused on the top of the funnel, but also the end customer experience.
It’s all about customer advocacy and whether the customer is successful in their use and
adoption of the product.
“I tell my team members that their gold standard is not whether customers bought a product,
but did they recommend us? It’s a higher bar and a different standard. We also don’t see
marketing’s role as getting customers in the door and then wiping our hands and going on to
the next one. Marketing’s role is about driving recommendations, so we spend a lot of time
building up playbooks and putting together hints and tips on how to get the most out of Slack.”
– Bill Macaitis, Growth Advisor at Slack
4. 4/11
Selecting the right customer success metrics and aligning teams around them is crucial to the
PLG process. And to do that, you’ve come to the right place. The four metrics presented in
this article can be reported on by cross-functional teams. The idea is to leverage data and
make coordinated, informed decisions and changes across your business.
Metric #1: Calculating the cost of acquisition (CAC)
This metric is pretty straightforward – what is the total expense incurred by your business in
acquiring a new customer?
The Cost of Acquisition (CAC) is calculated by dividing the total cost (this could be total
media spend, or specific channel/campaign costs), by the number of new customers acquired
from the same channel/campaign.
In a PLG strategy, the product is used to do the talking. The aim is to reduce acquisition costs
by removing the need for expensive marketing campaigns. Teams can hone in on one Call to
Action (CTA), such as a free trial or freemium product version.
You need to create a single landing page with this CTA to optimize conversions.
Freemium/free trials will capture a significant chunk of your addressable market. To be
profitable, you’ll only have to convert ~10% of users to your paid version, and get this – there
is no additional expense on your end. Think about how this will reduce your CAC?
The next step is to measure product usage. What features are being used?
5. 5/11
Take Heap as an example. Heap is a platform that helps businesses track user behavior on a
given website for later analytical analysis. As a product-led business, the Heap Inc team is
intentional with every move they make. As founder and chairman Matin Movassate says…
“When we’re thinking about adding or building out a certain feature, we first try to get a clear
sense of the problem we’re trying to solve. We make sure we can identify which part of the
funnel we’re addressing and the impact the feature will have on our business. If there is no
compelling story there — no data to suggest that the effort is a high-leverage use of our time —
we won’t do it.
Essentially, the question to ask is not, ‘can we make this change,’ but ‘should we make this
change?’ It’s about prioritization based on impact… when a new feature is fully launched, we
are disciplined about measuring the success metrics to determine if people are using it, whether
it’s affecting retention or activation, and whether it’s something that’s coming up in sales
conversations. All this data informs us how we should refine and build that and future features.”
– Matin Movassate, Product-led Growth Playbook
Feature use and free-trial/freemium sign-up tell you the extent of product acquisition.
Looking at feature use guides you towards creating a more useful product for your target
market. With a more useful product, customers are more likely to adopt the product from
their own back without energy, effort, and expense from your end.
In summary, provide a free trial/freemium version when possible, and optimize feature
availability to drive down CAC.
Metric #2: Calculating time to value
6. 6/11
The time to value is how long it takes you to see value from a customer action (e.g. a
purchase). You’ll see customer value once your customer has adopted and realized product
value.
Product adoption on the customer’s end happens when the customer has learned how to use
your product. Once adopted, the customer can make an informed cost-benefit evaluation.
You want this adoption process to be fast. You don’t want prospects to have to sit through
hours and hours of product onboarding or training videos to get started. Instead, guide your
users to complete key functions that will allow them to achieve what they set out to achieve.
For instance, the instant messenger application Slack stays away from traditional email
onboarding. Instead, users are given in-app notifications guiding them through the product
adoption process.
Be strategic about what features to include in which plan. You want to reduce the time it
takes for a user to move from a free trial/freemium/basic version to a paid/advanced plan.
And from a paid/advanced plan to an upsell/cross-sell position. Reducing this time means
reducing the time to value.
Time to value is an example of a customer success vector. That is, you have the customer’s
goal which defines their direction. This customer goal will have a business value attached.
You aim to move your customer through one goal post to the next, in the shortest amount of
time, until you can extract business value from them.
We’ve spoken about customer success vectors before. For more information, read our post 5
Tips to Make Your Customer Success Vectors Actual Vectors (KSIs Not KPIs).
7. 7/11
You can represent customer movement from one goal (milestone 1) to the next (milestone 2),
in a vector chart as given above. You aim to steepen the vector’s gradient in the positive
direction. This is a win-win situation – your customers will achieve their goals quickly and
you’ll reduce the time it takes you to extract value from them.
Metric #3: Using an account health scorecard
8. 8/11
You want your customers to receive value and benefit from your offering. If they don’t, then
you can’t expect to retain them.
Retaining customers is all about keeping your customers happy and your accounts healthy.
Healthy accounts will continue to extract value from you. Unhealthy accounts will eventually
churn.
Here an accounts health scorecard is your holistic metric to determine customer retention.
To help you, Process Street has created an Account Health Scorecard Checklist Workflow to
measure the health of your accounts. Again, this has been mentioned in a few of our
customer success posts already. That’s because the account health scorecard is a vital tool in
the customer success world. A tool that will:
Accurately capture the customer’s target objectives, target outcomes, and progress
along their value realization path.
Provide an advanced visual aid for users to understand product performance based on
usage and business value creation.
Track potential and emerging areas of concern and red-flag these as issues.
By red-flagging areas of concern, you can take appropriate action to continuously keep your
accounts healthy.
Click here to access our Account Health Scorecard Checklist Workflow!
Key checklist features:
Stop Tasks: Stop Tasks ensure the required steps for creating an accurate scorecard are
completed in the correct order.
File Upload and Approvals: You’ll be asked to upload the account scorecard you produce
using our File Upload feature. Your manager is then notified that your scorecard is ready
for assessment, and can jump in and accept/reject (with comments) as required using our
Approvals feature. This gives an extra layer of quality control.
Role Assignments: Use our Role Assignments feature to assign your supervisor to the
approval task. Your supervisor will be automatically notified of the upcoming approval
action required.
Metric #4: Measuring the difference between CLV and CAC
9. 9/11
It’s the job of CS teams to influence and empower customers to expand their account’s value.
We’re talking about account renewal, an increase in product usage, upselling, cross-selling,
and product advocacy. And we have a bunch of metrics that will allow you to measure this
expansion, namely:
1. Renewal rate: Divide the number of users who renewed their subscription by the
number of users up for renewal.
2. Product usage: Track and record meaningful in-product user interactions.
3. Upsell percentage: Divide the number of customers that purchased more in a cohort
by the total number of customers in that cohort. Multiply value by 100 to get a
percentage.
4. Cross-sell ratio: Divide the number of products/services sold by the number of
customers.
5. Product advocacy: There’s no single metric that measures product advocacy.
Commonly used tools include social listening, tracking referrals, customer engagement
measures, and influencer revenue.
Ultimately, product expansion is about growing the profitability of a given account. Whether
that’s through upselling, cross-selling, or advocacy – the above-listed actions add up and
boost an account’s revenue. A more holistic approach would be to measure expansion directly
by comparing CLV and CAC, as I’ll explain.
Calculate the CLV for an account: Multiply the average number of purchases in a
year by the average retention time in years.
Calculate the CAC for an account: Divide the number of new customers acquired
by the total sales and marketing costs it took to acquire these customers.
10. 10/11
By comparing the CLV and CAC values for a given account over time, you can measure
whether the gap between these two measures is widening (account expansion) or not. You
aim to grow an account’s CLV and reduce an account’s CAC.
3 bonus tips to rocket your expansion revenue
Great customer success should boost account expansion all on its own – but sometimes you
need a bit of help.
Expansion revenue might be the chief concern for CS teams, but it also fundamentally
determines the success of the business, and everyone needs to be involved.
Before wrapping up this article, below I’ve listed 3 top tips to help you expand revenue way
beyond your current targets.
Tip #1: Work with the product to boost virality 🌍
Your users love your product and through your ‘Aha!’ moment, you know what path new
users need to take to get to that point. Any user-product interaction though it a massive win.
Many of the best and most successful SaaS companies have increased their virality and the
number of people who end up inside their product at any given moment is by adding free
collaborative features.
This might be a Guest user who’s invited into the product. This person then gains value from
the product at no extra cost, and maybe they’ll be a convert and choose to spread it to their
team.
You could also create freemium tiers to help new people inside your customer’s organization,
who’ll use your product regularly. The more people you can get inside your product from
companies who already get value from you and pay you money, the more impact you’ll see on
your bottom line.
Tip #2: Work with marketing to add conversion moments 🤝
One of my favorite examples of conversion moments in product collaboration is Calendly. If
you’re not already a Calendly user, then once you’ve booked a slot on someone’s calendar it
immediately takes you to a success page where it tries to get you to sign up.
After all, they already have your email so it’s presented as a one-click process.
Adding these sales pages in key conversion moments for people who might find themselves
collaborating inside your product is a huge way to draw people in.
Many people who use you probably would want to use you again. Make it as easy as possible
to do so!
11. 11/11
Be wary, of course, of going too far with this! You don’t want to create a bad experience for
your existing customers by constantly trying to sell to their clients or partners who they’ve
brought into your product to collaborate with.
Tip #3: Work with your Community team to create evangelists 🤳
Maybe you run the Community team, maybe it’s under Marketing, or maybe it’s its own
department?
I don’t know the structure of your org. Sorry.
But building community is one of the best ways to engage your customers, make them
happier, and tailor a product around their needs. It’s also the best way to create super users
who evangelize your product to everyone they meet.
Try to get your customers to be active in your help forums, invite them to conferences, ask
them to show off a cool use case in a post for your blog, work with them to make a testimonial
video, and more and more and more.
Any opportunity you have to lift your customers will be repaid. Champion your customers
and they will champion you. That will turn into expansion revenue.
And that’s why we call it customer success!