#FlipMyFunnel San Francisco - Flip the Funnel
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The document discusses flipping the traditional sales funnel model by prioritizing customer retention over new customer acquisition. It proposes that customers will pay a premium for great service and customer service should become the strategic differentiator. Social media's real role is customer retention by building trust and improving the customer experience through ongoing dialogue and incentives. The flipped funnel model integrates both new customer acquisition and retention by closing the loop from awareness to ongoing customer relationships.
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#FlipMyFunnel San Francisco - Flip the Funnel
- 1. Flip MY Funnel(?) February 25th, 2016 Flip the Funnel Joseph Jaffe jaffe@startupsforbrands.com Twitter: @jaffejuice (917) 603-4639 #hashtag
- 2. The reat Resolve People love to buy… …but they hate to be sold to
- 3. The reat Resolve People love to buy… …but they hate to be sold to
- 4. What’s the Next Big Thing? Customer Experience (2010) Writing the book on the future (4 times) New Media (2005) Social Media (2007) Common Sense (2013)
- 5. 5
- 6. WAS ACQUIRED BY WAS INVESTED IN BY WAS ACCELERATED BY ACQUIRED FOR $178M ACQUIRED FOR $500M ACQUIRED FOR $150M + $475M WAS INCUBATED BY What if? INVESTED $500M IN
- 8. 8
- 9. What if we got it all wrong?
- 10. Do the Math
- 11. Zappos 11 75%
- 12. 12% 6% 3%
- 14. What’s the point of fishing if your net’s full of holes? Time to spurn the concept of churn
- 15. Ownership (Equity/R&D) Referrals (New Acquisition) Content / Conversation / Commendations Upsell/Cross Sell Competitive Conquesting Churn/Attrition
- 16. Ownership (Equity/R&D) Referrals (New Acquisition) Content / Conversation / Commendations Upsell/Cross Sell Competitive Conquesting Churn/Attrition
- 17. Introducing A.D.I.A. aka The Flipped Funnel 17
- 18. 18
- 19. Every single decision you make spend is binary: 1: Value to customer 0: Value to you
- 20. Retention becomes the NEW acquisition Hypothesis 1:
- 21. Zappos Customers will pay a premium for great service
- 22. Segment your Customer Segment your Customer
- 23. Customer Centricity + Influence = Advocacy
- 24. 24 Start a customer movement!
- 25. Customer Service becomes THE strategic differentiator Hypothesis 2:
- 26. The 4 P’s are Commoditized.
- 27. 27 Customer Service is the NEW Marketing/P.R./Crisis Communication
- 28. 28 This is not your grandfather’s customer service
- 29. Customer Service doesn’t stop at 5pm on a Friday 2 3 4 5 1 7 8 9 10 6 From “everything” to “everyone” communicates All customers are equal (some more than others) Customer service is not only about solving problems Customer service lives “in the now” Customer service can be a revenue generator Customer service lives in the public domain Customer service is an ongoing commitment Customer service can be proactive & anticipatory Customer service is alive The New Rules of Customer Service
- 31. The REAL role of social media is RETENTION Hypothesis 3:
- 32. 32 Social = WATER Media = OIL
- 33. 33
- 34. The REAL role of Social Media 34 I’ve got 5,000 followers on Twitter. How about you? LIKE me on Facebook? Add me to your Google + Circles? Wait, do circles event exist anymore? Hashtag me on Instagr.am. Check into me on Swarm… Dude,you’re a friggen’ shoe! And I’m pretty sure some of that activity is illegal
- 35. Facebook “Like” broadening the wrong end of the funnel © “Flip the Funnel: How to use existing customers to gain new ones” (2010, Wiley) by Joseph Jaffe Awareness( Interest( Desire( Ac.on( Like = Satisfactory
- 36. This is a people business driven by technology – Jim Bush (American Express) How do you scale humanity?
- 37. Sometimes you’ve got to go off-script…
- 41. Putting it all together
- 42. Funnel of Attention Funnel of Trust Funnel of Customer Experience
- 43. © “Flip the Funnel: How to use existing customers to gain new ones” (2010, Wiley) by Joseph Jaffe Acquisition Retention New Acquisition Acknowledgement Dialogue Incentivization Activation Awareness Interest Desire Action The New Integration: Traditional Funnel meets Flipped Funnel
- 44. $83 billion is lost each year in the U.S. thanks to poor customer experience
- 47. Close the Loop
- 49. A customer-centric ecosystem powered by technology Your customers are your most influential salespeople; your employees are your most credible spokespeople
- 50. 50Your employees are an asset
- 52. 52
- 53. Recurring Revenue might be the Holy Grail of B2B, but it doesn’t give you license to become complacent Forget renewals and focus on renewing your vows
- 54. One human step at a time You can’t automate intimacy How do you scale humanity? People don’t care how much you know, Until the know how much you care.
- 55. The smallest things..are the cheapest things… are the most valuable things
- 56. RESOLVED! Your customers love to buy
- 59. www.jaffejuice.com +1 917 603 4639 (to speak to me) e-mail: jaffe@startupsforbrands.com Twitter: @jaffejuice Z.E.R.O. Join The Conver- sation Madison & Mountain View Life after the 30- second spot People who this presentation, also :