Sources of Growth: Transforming Moments of Truth in the Customer Journey
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“How do you stay ahead of ever-rising customer expectations? There’s no single way to do it - it’s a combination of many things.” - Jeff Bezos. Start by mastering Moments of Truth in the Customer Journey. Design for Customer Experience and you will maximize Customer Adoption. The Ultimate MOT is Customer Advocacy. When customers spontaneously recommend your products or services you effectively have an "unpaid sales force."
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Sources of Growth: Transforming Moments of Truth in the Customer Journey
- 1. EMEA Registrar Days 20th September, 2018 Théoule-sur-Mer, France
- 2. Sources of Growth1 The Sales Cycle -> The Customer Journey2 Maximizing Anchor Moments3 Aligning Sales & Marketing with The Customer Journey4 The E2E Customer Exp. -> Competitive Advantage5 Unlocking Future Growth: Selling above the Funnel6 Agenda:
- 5. SalesChannel International ©2018 All rights reserved • Larger sales forces (more quota carriers) • Better trained sales force • More competitive prices (Lower prices) • Higher quality products • Higher sales commissions • Improved after sales service • Superior customer experience • More qualified opportunities • Marketing generated leads • Greater brand awareness • More sales bonuses • Regular demand generation campaigns • More innovative offers • More new offers • Broader portfolio of services • End User bundles • Customer promotion campaigns • Sales incentive campaigns • Revised sales strategy • Modernised customer tracking • New CRM system • Increased spend on advertising • Regular sales training • More flexible discounting approvals Sources of Growth:
- 7. SalesChannel International ©2018 All rights reserved 10 Growth Paths* 1. Customer Experience: Inspire additional purchases and advocacy 2. Customer Base Penetration: Sell more existing existing products to existing customers 3. Market Acceleration: Expand into new markets with existing products 4. Product Expansion: Sell new products to existing markets 5. Customer and Product Diversification: Sell new products to new customers 6. Optimize Sales: Streamline sales efforts to increase productivity 7. Churn (Minimize Defection): Retain more customers 8. Partnerships: Leverage third-party alliances, channels, and ecosystems (Sales, Go-to- Market) 9. Co-Opetition: Cooperate with market or industry competitor (Product Development, IP Sharing) 10. Unconventional Strategies: Disrupt current thinking *Growth IQ: Get Smarter About the Choices that Will Make or Break Your Business by Tiffani Bova, Penguin Publishing Group
- 8. SalesChannel International ©2018 All rights reserved Cloud Growth Strategy? Cloud Adoption Cycle
- 11. Sources of Growth1 The Sales Cycle -> The Customer Journey2 Maximizing Anchor Moments3 Aligning Sales & Marketing with The Customer Journey4 The E2E Customer Exp. -> Competitive Advantage5 Unlocking Future Growth: Selling above the Funnel6 Agenda:
- 12. SalesChannel International ©2018 All rights reserved The Buying Process
- 14. SalesChannel International ©2018 All rights reserved Search Find Qualify Buy Activate Manage Expand Support Renew Advocate The Customer Journey • Evaluate • Compare • Self-qualify • Select Up-sell Cross-sell Now or Never Moments Make or Break Moments Multiplier Moments Keep or Lose Moments • Recommend • Reference • VWoM Use / Adopt ATTRACT & ADOPT MAINTAIN & GROW
- 15. Provide a Guided Path
- 16. Eliminate barriers to purchase
- 17. Create a Journey to Adoption
- 19. SalesChannel International ©2018 All rights reserved Search Find Qualify Buy Activate Manage Expand Support Renew Advocate The Customer Journey: Acquire = Attract and Adopt Awareness of problem, Problem-triggered search, Awareness of possible solutions SEO, organic search, getting talked about, information and education, creating content that is ‘share worthy’ Self-qualify, “is this the right solution for me?” “is this the right provider for me?” multi- channel touch points Purchase and pay Activate, usage and adoption
- 20. SalesChannel International ©2018 All rights reserved It’s about the Customer not your products and services www.flickr.com/photos/poptech2006/2972685098
- 21. SalesChannel International ©2018 All rights reserved 1. Have greatest impact on growth / Customer Experience? 2. Deserve the most investment? 3. Need the most improvement to drive growth / Customer Experience? 3 Questions: When you look at your customer’s journey, which areas do you think: Search Find Qualify Buy Activate Manage Expand Support Renew Advocate
- 22. Sources of Growth1 The Sales Cycle -> The Customer Journey2 Maximizing Anchor Moments3 Aligning Sales & Marketing with The Customer Journey4 The E2E Customer Exp. -> Competitive Advantage5 Unlocking Future Growth: Selling above the Funnel6 Agenda:
- 23. Reaching the Customer with the right message at the right time based on where they are in their Customer Journey has a profound and measurable impact on conversion and retention.
- 24. Understand where they are
- 27. SalesChannel International ©2018 All rights reserved The Traditional Mental Model of Marketing (B2C) First Moment of Truth Second Moment of Truth Stimulus At shelf In-store Experience
- 28. SalesChannel International ©2018 All rights reserved The New Mental Model of Marketing (B2C) First Moment of Truth Second Moment of Truth Stimulus Pre-shopping | In-store | In-home At shelf In-store Experience
- 29. SalesChannel International ©2018 All rights reserved Search Find Qualify Buy Activate Manage Expand Support Renew Advocate The Customer Journey: Moments of Truth (Google) 1st 2nd 4th U 3rd
- 30. SalesChannel International ©2018 All rights reserved SaaS Revenue Waterfall - a two part Model 30 115% $115m 100% $100m End of Year Revenue: Total $’s End of Year Starting ARR: Total $’s Available to Renew at Beginning of Year 90% $90m Retention Dollars Upsell Dollars Cross Sell Dollars Customer Churn Dollars Downsell Dollars Retention Rate = 90% Expansion Rate = 25% Churn = 7% $3m Downsell = 3% $7m Upsell = 10% Xsell = 15% $15m YoY Growth Rate = 15% Source: TSIA SRG Cloud Benchmark Study $10m
- 31. SalesChannel International ©2018 All rights reserved Search Find Qualify Buy Activate Manage Expand Support Renew Advocate The Customer Journey: LAER Customer Engagement Model (TSIA) Land Adopt Expand Renewal
- 32. SalesChannel International ©2018 All rights reserved Search Find Qualify Buy Activate Manage Expand Support Renew Advocate The Customer Journey: Anchor Moments (DomainName) .com, .net .com, .net .com, .net .com, .net
- 33. SalesChannel International ©2018 All rights reserved • Create internal alignment and awareness of customer interactions at key moments of truth • Pinpoint opportunities for improvement and create areas of competitive differentiation • Own the End-to-End Relationships with your Customers Customer Journey Mapping
- 34. Sources of Growth1 The Sales Cycle -> The Customer Journey2 Maximizing Anchor Moments3 Aligning Sales & Marketing with The Customer Journey4 The E2E Customer Exp. -> Competitive Advantage5 Unlocking Future Growth: Selling above the Funnel6 Agenda:
- 35. Myth 1: The customer knows what they want.
- 38. “Today’s customers are online explorers, seeking out online ratings, peer reviews, videos and in-depth product details as they move through the buying decision process.”
- 39. SalesChannel International ©2018 All rights reserved Search Find Qualify Buy Activate Manage Add-ons Support Renew Advocate The Customer Journey Now or Never Moments Make or Break Moments Multiplier Moments Keep or Lose Moments
- 40. Helping will sell. Selling won’t help. - J.B. Wood, Complexity Avalanche
- 41. Join-the-dots
- 42. SalesChannel International ©2018 All rights reserved “People are best convinced by things they themselves discover.” - Benjamin Franklin Why Educational Marketing Collateral?
- 43. SalesChannel International ©2018 All rights reserved Search Find Qualify Buy Activate Manage Expand Support Renew Advocate The Customer Journey: Content Mapping Goal: Create a Remarkable and Memorable E2E Experience Up-sell/Cross-sell • Campaigns • Promotions • Incentives • Calculator/worksheet • Case studies • White papers • Success Story Videos Self-Qualify: • Research Reports • Checklists • Webinars • Free Demos • Trial Downloads • eBooks • Videos • Capture in Renewal Process • Recommendation & Referral campaigns • Recommender/Referrer Incentives • Webinars • Video Clinics • eBooks • Templates • Case studies • White papers • Templates • Contact information Differentiate at every level • Email campaigns • Up-sell/Cross-sell campaigns
- 44. SalesChannel International ©2018 All rights reserved • Meet Customers where they hangout online • Join the conversation they are already having • Remember: 80% of learning is done socially Starting the conversation
- 46. SalesChannel International ©2018 All rights reserved Align content with Buyer Personas Decision Making Personas: • Functional • Economic • Emotional Buyer Personas:Functional Personas: • Finance Manager • HR Manager • IT Manager • SMB Owner • Marketing Manager • Sales Manager • C-Level Executive • Change Agents • Optimizers • Cost Savers • Risk Averse • Maintainers • Early Adopters • Transformers 1. Decisive Danielle “Driver” 2. Collaborative Claire “Consensus” 3. Relationship Renee “Friend” 4. Skeptical Steve “Guardian” 5. Analytical Al “Spreadsheet” 6. Innovator Irene “Maverick” Buyer Persona Example:
- 47. Accelerate time to purchase
- 49. Create a sense of urgency
- 50. Help the Customer cross the line
- 52. Sources of Growth1 The Sales Cycle -> The Customer Journey2 Maximizing Anchor Moments3 Aligning Sales & Marketing with The Customer Journey4 The E2E Customer Exp. -> Competitive Advantage5 Unlocking Future Growth: Selling above the Funnel6 Agenda:
- 54. SalesChannel International ©2018 All rights reserved “How do you stay ahead of ever-rising customer expectations? There’s no single way to do it - it’s a combination of many things.” - Jeff Bezos
- 55. You can’t teach an old dog new tricks
- 56. Rethink Customer Experience VP of Hosting Services VP of Customer Success VP of Cloud Services VP of Growth
- 57. The status quo is not a growth strategy
- 59. SalesChannel International ©2018 All rights reserved Differentiation: 3 levels of Perceived Value Basic Offer Technology Price performance Product quality 1 Professional Services Assessment, Planning & Migration Services Levels of Customer Support Quality of service Systems & Processes 2 E2E Customer Experience Perceived value High touch People Exceed customer expectations Delight and astound customers 3 1 2 3 Your Cloud Services
- 60. SalesChannel International ©2018 All rights reserved 1. _______________________________________________ 2. _______________________________________________ 3. _______________________________________________ 4. _______________________________________________ 5. _______________________________________________ 1. _______________________________________________ 2. _______________________________________________ 3. _______________________________________________ 4. _______________________________________________ 5. _______________________________________________ 1. _______________________________________________ 2. _______________________________________________ 3. _______________________________________________ 4. _______________________________________________ 5. _______________________________________________ Differentiation: 3 levels of Perceived Value
- 61. SalesChannel Europe ©2017 All rights reserved Competitive separation
- 62. “Invention is not disruptive. Only customer adoption is disruptive.” - Geoff Bezos, May 2017 Design for Customer Experience and you will maximize Customer Adoption
- 63. Sources of Growth1 The Sales Cycle -> The Customer Journey2 Maximizing Anchor Moments3 Aligning Sales & Marketing with The Customer Journey4 The E2E Customer Exp. -> Competitive Advantage5 Unlocking Future Growth: Selling above the Funnel6 Agenda:
- 66. Customer Acquisition = Demand Creation + Demand Capture • Prospection • Qualifying • Needs Capture • Proposal • Negotiation • Close Demand Creation Demand Capture • Opportunity identification • Market segmentation & prioritisation • Requirements analysis • Demand Creation Campaigns • Lead Generation & Management • Engagement The Cloud Sales Toolkit Q1 Q2 Q3 Q4 Q1 Demand Generation Campaigns 66
- 67. Old bag of new tricks
- 68. SalesChannel International ©2018 All rights reserved Demand Generation Campaign Exercise
- 70. Demand Creation
- 71. No 1 Challenge in Digital Marketing? Producing engaging content consistently CONSTANTLY and
- 72. 1. Sources of Growth 2. The Sales Cycle -> The Customer Journey 3. Maximizing Anchor Moments 4. Aligning Sales & Marketing with The Customer Journey 5. The E2E Customer Exp. -> Competitive Advantage 6. Unlocking Future Growth: Selling above the Funnel Quick Review: Competing to remain relevant to tomorrow’s Partners
- 73. Where do I go from here? www.flickr.com/photos/dno1967b/7753070058
- 74. Key Takeaways 1. Help and guide Customers to navigate successfully each step in the Customer Journey 2. Use domain names (.com & .net) to secure key anchor moments in your Customer’s Journey 3. Leverage Verisign’s Channel Programs to compete on the E2E Customer Experience, eliminate churn and unlock future growth
- 75. Get it right
- 76. www.flickr.com/photos/horacio/3781750 David R Ednie President & CEO SalesChannel International Ph: +33 676 60 09 25 (FRA) Email: david@saleschannel-europe.com Website: www.saleschannel-europe.com