Proven Strategies to Leverage Your Customer Community to Grow Your Business
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Find out how businesses are leveraging stronger relationship with customers to identify revenue opportunities within their customer base and create more products that their markets love. During this presentation, you’ll learn: Why peer-to-peer communities keep more customers engaged than other channels How to ensure your customer community serves both your customers and your business Actionable strategies for turning the social data in your community platform into profit
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Proven Strategies to Leverage Your Customer Community to Grow Your Business
- 3. Three Parts to Today’s Discussion 1. The real reasons you should care 2. Why build community 3. Strategies to grow your business
- 4. The Typical Business Before the Initial Purchase After the Initial Purchase Spend, Effort, and Interest • Branding • Pricing • Positioning • Marketing • Lead Generation • Converting Leads Into Customers Revenue Opportunity
- 5. Remain a Customer Use Your Product Provide Constructive Feedback Purchase Add-Ons or Services Become an Advocate or Reference Renew Their Contract Upgrade Your Solution Attend a Customer Event Utilize Specific Support Resources THERE ARE CERTAIN THINGS YOU WANT CUSTOMERS TO DO.
- 6. HIGHER CUSOMER ENGAGEMENT LEADS TO MORE CUSTOMER DOING WHAT YOU WANT THEM TO DO AT A LOWER COST.
- 7. What It Takes to Keep Customers Engaged Has Evolved
- 9. Why Community is an Effective Strategy for Generating Sustainable Customer Engagement
- 10. Training FeedbackConferenceServices HIGHER ENGAGEMENT = HIGHER CONVERSIONS (AT A LOWER COST) TOTALCUSTOMERBASE TOTALCUSTOMERBASE TOTALCUSTOMERBASE $$$$$ $$$$ $$$ $$ $ TOTALCUSTOMERBASE Cost With Lower Customer Engagement Cost With Higher Customer Engagement Average Engagement $$$$$ $$$$ $$$ $$ $ Cost With Lower Customer Engagement Cost With Higher Customer Engagement $$$$$ $$$$ $$$ $$ $ Cost With Lower Customer Engagement Cost With Higher Customer Engagement $$$$$ $$$$ $$$ $$ $ Cost With Lower Customer Engagement Cost With Higher Customer Engagement Average Engagement Average Engagement Average Engagement Increased Engagement Increased Engagement Increased Engagement Increased Engagement
- 11. Strategies to Grow Your Business by Leveraging Your Online Customer Community
- 13. Make Better Decisions With Actionable Data • Who to contact • When to contact them • What to contact them about
- 14. 1 Get Found &Watch Community Members Become Leads
- 15. Customer Community Strategy Set up SEO-optimized discussion forums Open your community to prospects Make joining the community easy
- 16. Shortening the Sales Cycle 2
- 17. Customer Community Strategy Show Rather Than Tell Better Lead Intel Connect the Right Prospects to the Right Advocates
- 18. Cultivating Advocates and Customer Stories 3
- 19. Customer Community Strategy Monitor Activity Profile and Recruit Nurture Relationships Deliver Advocacy Opportunities
- 20. Revenue Opportunities Within Your Customer Base 4
- 21. Customer Community Strategy Positive experience with products and services Trust Awareness Be proactive
- 22. Create More Profitable Products Using Consistent Market Data 5
- 23. A Typical Product Management Process CollectDataFromYourTargetMarket •Market problems •Product feedback •Win/loss analysis •Competitive landscape •Buying process ValidateMarketData •Confirmatory surveys GenerateSolutions •New products •Added features •Improvements •Complimentary services •New processes •Product roadmap TestIdeasWithMarket •Products •Functionality •Services •Positioning •Messaging •Distribution strategy DevelopProductorService •Product development •Marketing & launch plan •Sales process & tools •Delivery •Customer retention
- 24. More Product Hits and Fewer Product Misses Uncover Market Problems and Trends Confirm Conclusions Crowdsource Prioritization Validate Ideas With Small Groups Market-Driven Innovation Methodology
- 25. TWO TYPES OF INSIGHT How to Have More Product Hits and Fewer Product Misses
- 28. …WITHOUT AN ACTIVE ONLINE CUSTOMER COMMUNITY None of This is Possible…
- 29. Where Do You Go From Here?
- 30. 6 Strategies to Grow Your Business Get Found & Generate More Leads Pull People Through the Sales Cycle Identify & Recruit Advocates Generate More Revenue Per Customer Create More Sellable Products Keep Customers Longer
Editor's Notes
- Rachel story
- Next slide lead in – something that start-up and VCs understand that enterprise companies are just beginning to realize.
- Ways to Keep Customers Engaged – what works and what doesn’t Why Build Community?
- Demand connection Flexible Sustainable/ongoing Strong reason why Community vs. Campaigns
- Customer community is a general sense vs. customer community platform – social space where customers can connect with peers, share ideas, and get advice from experts.
- Defining Customer Engagement and Account Management. A brief history …
- Create an industry discussion Set up SEO-optimized discussion forums Open your community to prospects Make joining the community easy
- Differentiator - show don't tell - sales people tour- extension of product - oracle Lead Intel - Easier connection to advocates Train sales in telling customer stories Utilize better insight into prospective customers’ thinking Get the right message to the right people at the right time Leverage email, personal outreach, and onscreen calls-to-action Identify revenue opportunities within your customer base
- Create a strategic customer advocacy program Identify customer advocates Recruit people into your customer reference program Nurture your advocates Give customers a place to advocate
- Social dollars
- Passive insights from day-to-day activity Active insights from product advisory groups Aggregate the voice of your customer Prioritize your product backlog
- Id those things you need customer to do Build an active online community