This document outlines a three-step process for leveraging existing stakeholder relationships to grow a business:
1. Conduct a review of key stakeholder relationships, projects, services, and bids to evaluate their importance and opportunities.
2. Strategize with internal teams to develop plans for acknowledging stakeholders and improving relationships based on review feedback.
3. Take action by delivering plans through accountable teams and scheduling future reviews for continuous improvement.
MP4 version: https://youtu.be/xz4yT9Kc-iA
The Fundamentals of Customer Success Management
Top drivers:
• Ease of access to the service provider
• Resolution velocity and accuracy
• Listen and act on clients' feedback
• Sell and deliver value e.g. solution, affordability, and convenience
• Always aim for the life-long value of each client
Measures:
• Revenue per customer
• Repeat customers or renewal
• Customer referrals
• Customer Satisfaction Score (CSAT), Net Promoter Score (NPS), Customer Effort Score (CSE)
Customer success journey:
• Interest
• Purchase
• Implementation
• Onboarding
• Expansion
• Rewenal
Customer Success Management is all about pro-actively making sure your customers get value from their relationship with you. You need to do this to reduce your risk of churn and maximize your profits.
But how will you do it? How do you make sure your CSM efforts are successful? And how do you do it in a way that is cost effective?
Customer success continues to be an emerging practice as both technology companies and nontraditional industries move to a new subscription revenue model. A maturity model framework helps companies establish their customer success organizations and initiatives, as well as allowing them to see where they stand and how they can improve as they move through the stages of maturity. www.tsia.com.
Here's a great customer journey map template to help customer success folks document, visualize and evaluate how they interact with customers. Here is a link to the supporting blog post that details how to use the template and explains some of the assumptions we made in creating the lifecycle stages, and categories = http://www.preact.com/blog/customer-journey-map-template
MP4 version: https://youtu.be/xz4yT9Kc-iA
The Fundamentals of Customer Success Management
Top drivers:
• Ease of access to the service provider
• Resolution velocity and accuracy
• Listen and act on clients' feedback
• Sell and deliver value e.g. solution, affordability, and convenience
• Always aim for the life-long value of each client
Measures:
• Revenue per customer
• Repeat customers or renewal
• Customer referrals
• Customer Satisfaction Score (CSAT), Net Promoter Score (NPS), Customer Effort Score (CSE)
Customer success journey:
• Interest
• Purchase
• Implementation
• Onboarding
• Expansion
• Rewenal
Customer Success Management is all about pro-actively making sure your customers get value from their relationship with you. You need to do this to reduce your risk of churn and maximize your profits.
But how will you do it? How do you make sure your CSM efforts are successful? And how do you do it in a way that is cost effective?
Customer success continues to be an emerging practice as both technology companies and nontraditional industries move to a new subscription revenue model. A maturity model framework helps companies establish their customer success organizations and initiatives, as well as allowing them to see where they stand and how they can improve as they move through the stages of maturity. www.tsia.com.
Here's a great customer journey map template to help customer success folks document, visualize and evaluate how they interact with customers. Here is a link to the supporting blog post that details how to use the template and explains some of the assumptions we made in creating the lifecycle stages, and categories = http://www.preact.com/blog/customer-journey-map-template
In this e-book, you'll find tips for hiring the right people into your customer success organization, including the traits your customer success managers should have, interview questions to help you test for those traits, and a sample job posting.
How to Build an Effective Customer Health ModelTotango
Your customers’ success is critical to your business. But how do you define and measure their success? Should you look at the number of support tickets, rate of adoption, revenue per customer, churn rate, net promoter score, or customer lifetime value?
Instead of looking at specific metrics, you need to take a holistic view of the customer using a Customer Health value. Health definitions should incorporate several KPIs and variables, such as business outcomes, lifecycle stage, product usage, license utilization, support tickets and other relevant information.
In these slides presented during our webinar, you'll learn how to build an effective health model to measure real business outcomes, drive retention and increase revenue. Presented by Jill Rubin, CMO of Totango, and Isabelle Rochon, Director of Customer Success from iPerceptions, a Totango customer.
Collaboration. Puzzle Solving. Technology Champion. Customer Centric. Life Long Learner. All of these core skills blend together to make me a strong Customer Success Manager.
I am a passionate customer advocate and technology champion. Seen as a trusted advisor and puzzle solver by clients and coworkers alike. I am able to communicate across technical skill levels. Driven to help clients achieve business and organizational goals through technology.
Customer Success Cubed - The Simplest Guide you will ever FindTotango
Presentation by Guy Nirpaz, CEO at Totango.
The simplest guide you will ever find to help you succeed in Customer Success. Presented at the Totango Customer Success Silicon Valley Meetup.
How to Unleash the Hidden Value of a Best Practices Voice of the Customer Pro...Gainsight
Your customer base is a constant feedback generating engine. That information is pure gold to any type of business, but especially recurring revenue companies. Unfortunately, it’s lost in the ether when you don’t have a systematic way to capture that feedback, transform it into insights, actualize those insights, and realize the value from the customer.
We call that infinite feedback loop the Voice of the Customer (VoC).
In this webinar, you’ll learn several actionable tips and tricks to spin up a world-class VoC program, as well as what common pitfalls to avoid along the way. Join Waypoint Group Founder and Principal Steve Bernstein and Gainsight Director of Product Marketing Ganesh Subramanian as they explore what makes VoC so valuable and how you can drive that value in your organization.
Presentation by Paul van Veen, Customer Service Benchmarking Australia (CSBA) at the Serve You Right Conference, Melbourne, September 15-16, 2011. Provides an overview of What to look for in customer service measures; The overall service improvement model; Customer satisfaction measures; Understand current performance; Key points for successful customer satisfaction measurement
Use this eBook to help your customer success team better harness the power of customer engagement marketing to increase your renewal rate. In the presentation we define customer engagement marketing and lay out the steps you should take to implement an effective strategy.
The Sales-to-CSM Handoff is your customers' first impression of their Customer Success team. Understand the best ways to use Gainsight to manage this process from your Sales to your Post-Sales team.
Presentation by Kristen Hayer, CEO at The Success League.
A deep dive into setting the right metrics and goals to help your Customer Success team succeed. Presented at the Customer Success Silicon Valley Meetup on August 6.
Empowering Customer Success Managers as Adoption CoachesAmity
One of the most critical functions that Customer Success Managers perform is proactively driving user adoption within your customers' organizations. But how do you do this rapidly, effectively and at scale?
The answer is to develop and empower your CSMs to be Adoption Coaches. Adoption Coaches don't tell their customers how to run their business, but they guide and help them through adoption to achieve and maintain the full value of your system over the years.
Customer Success Best Practices for SaaS Retention: Metrics and KSFs for Buil...Gainsight
Customer Success Best Practices for SaaS Retention: Metrics and KSFs for Building a High Performing Customer Success Team
Insight Venture Partners and Gainsight presented a webinar on customer success best practices for SaaS retention, including the crucial metrics and Knowledge and Skills Frameworks (KSFs) for building a high performing Customer Success team.
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.
Building Long-Term Relationships With High-End Coaching ClientsGary B. Henson
Learn how to Build Long-Term Relationships With High-End Coaching Clients! In 8 quick slides, we teach you how to attract, enroll, and transform your ideal, high-end coaching clients so that they will retain you for years to come!
Customer Success Management - Incentives and CompensationGainsight
Did you know there are 7 different ways to compensate and incent Customer Success Managers? Find out which ones work in 2015 in this webinar.
Like all aspects of Customer Success Management, best practices around CSM compensation and incentives are changing; mirroring the evolving role of front-line CSMs and the strategic alignment of the Customer Success organization.
To ensure that you’re operating with the latest and greatest information, join Bernie Kassar, SVP Customer Success at Xactly, and Gainsight Chief Customer Officer Dan Steinman, as they share the best practices for CSM Compensation and Incentives for 2015.
In this webinar, you’ll learn:
1. If a variable compensation model works best for Customer Success Managers
2. Whether Customer Success Managers should be carrying Revenue – or other – Quotas
3. What the best companies are basing Customer Success Managers’ success compensation on (CSat, Revenue, Renewals, etc.)
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 this exclusive webinar, Tiffani Bova (Global Customer Growth & Innovation Specialist, Salesforce) and Allison Pickens (Chief Customer Officer, Gainsight) will go in-depth on why there’s a clear distinction between customer experience and customer outcomes, and why both of them should roll up to an overarching Customer Success Strategy at your company.
The NICSA Annual Conference as seen through the program brochures from 1983 to 2012. Join us for our 31st year on February 10-13, 2013. Last year at Doral!
In this e-book, you'll find tips for hiring the right people into your customer success organization, including the traits your customer success managers should have, interview questions to help you test for those traits, and a sample job posting.
How to Build an Effective Customer Health ModelTotango
Your customers’ success is critical to your business. But how do you define and measure their success? Should you look at the number of support tickets, rate of adoption, revenue per customer, churn rate, net promoter score, or customer lifetime value?
Instead of looking at specific metrics, you need to take a holistic view of the customer using a Customer Health value. Health definitions should incorporate several KPIs and variables, such as business outcomes, lifecycle stage, product usage, license utilization, support tickets and other relevant information.
In these slides presented during our webinar, you'll learn how to build an effective health model to measure real business outcomes, drive retention and increase revenue. Presented by Jill Rubin, CMO of Totango, and Isabelle Rochon, Director of Customer Success from iPerceptions, a Totango customer.
Collaboration. Puzzle Solving. Technology Champion. Customer Centric. Life Long Learner. All of these core skills blend together to make me a strong Customer Success Manager.
I am a passionate customer advocate and technology champion. Seen as a trusted advisor and puzzle solver by clients and coworkers alike. I am able to communicate across technical skill levels. Driven to help clients achieve business and organizational goals through technology.
Customer Success Cubed - The Simplest Guide you will ever FindTotango
Presentation by Guy Nirpaz, CEO at Totango.
The simplest guide you will ever find to help you succeed in Customer Success. Presented at the Totango Customer Success Silicon Valley Meetup.
How to Unleash the Hidden Value of a Best Practices Voice of the Customer Pro...Gainsight
Your customer base is a constant feedback generating engine. That information is pure gold to any type of business, but especially recurring revenue companies. Unfortunately, it’s lost in the ether when you don’t have a systematic way to capture that feedback, transform it into insights, actualize those insights, and realize the value from the customer.
We call that infinite feedback loop the Voice of the Customer (VoC).
In this webinar, you’ll learn several actionable tips and tricks to spin up a world-class VoC program, as well as what common pitfalls to avoid along the way. Join Waypoint Group Founder and Principal Steve Bernstein and Gainsight Director of Product Marketing Ganesh Subramanian as they explore what makes VoC so valuable and how you can drive that value in your organization.
Presentation by Paul van Veen, Customer Service Benchmarking Australia (CSBA) at the Serve You Right Conference, Melbourne, September 15-16, 2011. Provides an overview of What to look for in customer service measures; The overall service improvement model; Customer satisfaction measures; Understand current performance; Key points for successful customer satisfaction measurement
Use this eBook to help your customer success team better harness the power of customer engagement marketing to increase your renewal rate. In the presentation we define customer engagement marketing and lay out the steps you should take to implement an effective strategy.
The Sales-to-CSM Handoff is your customers' first impression of their Customer Success team. Understand the best ways to use Gainsight to manage this process from your Sales to your Post-Sales team.
Presentation by Kristen Hayer, CEO at The Success League.
A deep dive into setting the right metrics and goals to help your Customer Success team succeed. Presented at the Customer Success Silicon Valley Meetup on August 6.
Empowering Customer Success Managers as Adoption CoachesAmity
One of the most critical functions that Customer Success Managers perform is proactively driving user adoption within your customers' organizations. But how do you do this rapidly, effectively and at scale?
The answer is to develop and empower your CSMs to be Adoption Coaches. Adoption Coaches don't tell their customers how to run their business, but they guide and help them through adoption to achieve and maintain the full value of your system over the years.
Customer Success Best Practices for SaaS Retention: Metrics and KSFs for Buil...Gainsight
Customer Success Best Practices for SaaS Retention: Metrics and KSFs for Building a High Performing Customer Success Team
Insight Venture Partners and Gainsight presented a webinar on customer success best practices for SaaS retention, including the crucial metrics and Knowledge and Skills Frameworks (KSFs) for building a high performing Customer Success team.
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.
Building Long-Term Relationships With High-End Coaching ClientsGary B. Henson
Learn how to Build Long-Term Relationships With High-End Coaching Clients! In 8 quick slides, we teach you how to attract, enroll, and transform your ideal, high-end coaching clients so that they will retain you for years to come!
Customer Success Management - Incentives and CompensationGainsight
Did you know there are 7 different ways to compensate and incent Customer Success Managers? Find out which ones work in 2015 in this webinar.
Like all aspects of Customer Success Management, best practices around CSM compensation and incentives are changing; mirroring the evolving role of front-line CSMs and the strategic alignment of the Customer Success organization.
To ensure that you’re operating with the latest and greatest information, join Bernie Kassar, SVP Customer Success at Xactly, and Gainsight Chief Customer Officer Dan Steinman, as they share the best practices for CSM Compensation and Incentives for 2015.
In this webinar, you’ll learn:
1. If a variable compensation model works best for Customer Success Managers
2. Whether Customer Success Managers should be carrying Revenue – or other – Quotas
3. What the best companies are basing Customer Success Managers’ success compensation on (CSat, Revenue, Renewals, etc.)
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 this exclusive webinar, Tiffani Bova (Global Customer Growth & Innovation Specialist, Salesforce) and Allison Pickens (Chief Customer Officer, Gainsight) will go in-depth on why there’s a clear distinction between customer experience and customer outcomes, and why both of them should roll up to an overarching Customer Success Strategy at your company.
The NICSA Annual Conference as seen through the program brochures from 1983 to 2012. Join us for our 31st year on February 10-13, 2013. Last year at Doral!
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2. Create context to motivate a high-performing team Practical tips and real-world examples to drive innovation, shared understanding, mitigate risks, and create energy and focus.
3.Understand your profile Evaluate your "go-to" strengths versus where you need to consciously practice, and how to recognize and balance stakeholders’ own.
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5. And many more strategies Techniques to say “no” given common stakeholder archetypes, how to diplomatically, authentically yet firmly approach keeping your priorities on track.
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Driving Key Account Growth: Planning and Execution to Access the White SpaceRichardson
Decreasing customer loyalty, higher expectations, and constant competitive threats are making forecasted business from your best customers anything but a certainty. The presentation will cover the following:
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2. Quantitative and qualitative factors to consider in choosing accounts for strategic account planning
3. How to align to the customer’s strategy
Account plan execution
1. How to leverage your existing
stakeholder relationships
Grow your business in 3 easy steps
MARIA RAMPA – MANAGING DIRECTOR
EVVOKE CONSULTING
2. THE STAKEHOLDER
RELATIONSHIP
JOURNEY
8.
ADVOCACY
(brand fans, WOM) 1.
AWARENESS
(needs and messages)
2.
KNOWLEDGE
(push to pull
3.
CONSIDERATION
(consider options)
4.
SELECTION
(rational and emotional)
5.
BUYING
(less selling)
6.
SATISFACTION
(experience)
8.
RETENTION
& LOYALTY
(retention/value)
CUSTOMER
LIFE CYCLE
LOOP
1 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
3. WHY DO YOU NEED
TO LEVERAGE YOUR
EXISTING STAKEHOLDER
RELATIONSHIPS?
More cost and
time effective
Creates overall
satisfaction
Develops long-
term, valuable
opportunities
Increases
commitment to
relationship
Builds advisory
and partnership
relationship
Creates
advocates
2 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
4. HOW DO YOU
LEVERAGE
YOUR EXISTING
STAKEHOLDER
RELATIONSHIPS?
STEP 1
Conduct a review
STEP 2
Strategize
STEP 3
Take action
3 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
5. Relationship Review
Major stakeholder
Experiencing significant
organisational change
Significant future revenue potential
Noticeable change in revenue and
margin (up or down)
May be a problem with the relationship
e.g. series of lost bids
Offers geographic, regional or
market spread
Project/Service Review
Change in project/account manager
(you or stakeholder)
Reached a milestone in project/service
Finished project/service
Issues in project/service
Bid Review
Lost successive bids and not sure why
Won a bid and would like to
understand why
STEP 1: REVIEWWhich stakeholders?
Use the criteria below to assess which stakeholders to review, that is,
which are of the most strategic importance. Then prioritise.
4 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
6. STEP 1: REVIEWReview relationships, projects, services, bids
Overall health of relationship /
project / service / bid win-loss rate
Success factors Where on path to advocacy Opportunities to improve
Differentiators Revenue and growth opportunities / strategic importance
Use the canvas below to review your relationships, projects, services
or bids. Develop as many canvases as required to complete a full
review on your business’ stakeholder relationships.
5 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
7. STEP 2: STRATEGIZEStrategies to improve relationships, projects, services, bids
Following the review, stakeholder teams should meet
to discuss the feedback and develop strategies for
acknowledgement and improvement, as relevant.
6 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
1. Review feedback 2. Discuss with teams 3. Develop Action Plan
4. Thank stakeholders
for their participation
5. Share Action Plan
with internal and
external stakeholders
8. STEP 3: ACTIONDeliver the Action Plan
Accountability
Schedule next review
(continuous improvement)
Responsibility Meet expectations
The Action Plan should not only include
tasks, but also indicate accountabilities
and responsbilities.
7 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
Action Plan
9. STAKEHOLDER
RELATIONSHIP REVIEW
PROCESS FLOW
Stakeholder
identification
Identify stakeholders
for review, by order of
priority
Report
preparation and
sharing
Reports are prepared
and shared with internal
stakeholder
Engagement
with key internal
stakeholders
Agree strategy for
reviews
Internal information
gathering on
relationship history,
past surveys, financials,
major projects, issues,
bids
Action planning
and follow up
Action development in
response to feedback
Internal stakeholders
to follow through on
actions
Stakeholder
appointments
and interviews
Internal stakeholder
contacts external
stakeholder to seek
endorsement
Review team makes
appointments and
conducts interviews
1 2 3 4 5
8 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
10. BENEFITS TO
YOU AND YOUR
STAKEHOLDERS
For you:
• Insights into the overall health
of your relationships, projects/
services and bids
• Feedback through an
independent source – more than
one perspective
• Information on new
opportunities and competitive
positioning
• Continuation of stakeholder
contact outside of projects/
service delivery
• Early warning of issues.
For your stakeholder:
• An opportunity to provide
full and frank feedback via
an “independent” ear
• A chance to make sure
requirements and expectations
are understood
• An opportunity to ensure
alignment of business goals
• Ensures feedback reaches the
top level of your organisation
• Demonstration of partnership
investment and commitment.
9 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
11. CRITICAL SUCCESS
FACTORS
Strong leadership
Collaboration
Clarity of intent
Good preparation
Open and honest engagement
Feedback and action
Program integrity
10 | Evvoke Consulting | How to leverage your existing stakeholder relationships – Grow your business in 3 easy steps
12. How will you use
the power of insight
and engagement in
your stakeholder
relationships?
If you need assistance contact:
Maria Rampa
Managing Director
Evvoke Consulting
Tel: +61 404 493 205
Email: maria@evvoke.com.au
www.evvokeconsulting.com
