Harnessing the Power of Continuous Learning in Customer Success featuring Waterstone Management Group
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In this webinar presentation, Hubert Selvanathan, Principal at Waterstone Management Group, and Jim Coleman, SVP Customer Success at Totango, discuss which tools, processes, and capabilities are needed to drive continuous learning throughout your Customer Success model.
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Harnessing the Power of Continuous Learning in Customer Success featuring Waterstone Management Group
- 1. Harnessing the Power of Continuous Learning in Customer Success
- 2. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 1 Today’s Speakers Hubert Selvanathan Principal Jim Coleman SVP, Customer Success
- 3. Today’s Objectives In this webinar, you will learn: • Why continuous learning is critical for Customer Success • How to add process and structure to drive results • How to set up key enablement tools, analysis and reporting • What benefits are achieved through continuous learning
- 4. Strategy: Enterprise to Customers – E2C 250+ Customers Team & Locations 100 people across 3 offices San Mateo – HQ NYC – Sales & Customer Success Tel Aviv – Lab, Sales & Customer Success Overview Tech Partners AWS, Microsoft, Salesforce, Zendesk, Slack, Segment, ServiceNow Industry Contributions 5 annual Customer Success Summit events CEO authored Farm Don’t Hunt: The Definitive Guide to CS
- 5. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 4 Waterstone Overview • Strategy and operations consulting firm • Exclusive focus on Technology and Services sectors – clients are product vendors and service providers in Tech • Strategy through execution focus – expert-led and results oriented • Emphasis on driving growth agenda • 30+ team, offices in Chicago and Bay Area Representative Client Portfolio
- 6. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 5 What is Continuous Learning Relative to Customer Success The ability to continually develop and improve a company’s: - Engagement with customers, and - Understanding of their customers’ needs … to deliver ongoing value to customers effectively.
- 7. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 6 Changing Market Dynamics Operational Challenges The Need for Continuous Learning Why is Continuous Learning Necessary? In business, the only thing constant is change.
- 8. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 7 Applying Continuous Learning Across Customer Success Customer Experience Design and execute a differentiated CX Operating Model Define roles & responsibilities, processes, metrics Enablement & Scale Develop playbooks, using data and technologies to drive scale Economic Model Identify, measure and communicate CS value • Define the desired experience across the lifecycle • Identify ‘moments of truth’ across the journey • Align cross-functional roles / responsibilities • Define end-to-end model for Adopt, Expand and Renew • Design CS operations (segmentation, touch points, health measures, etc.) • Evolve methodologies in Services, Support and Renewals • Create success plays for proactive engagement • Implement data integrations and technologies for insights and scale • Develop one-to-many engagement model • Analyze CS impact (e.g., retention, upsell) • Estimate ongoing post-sales investment • Define converged offerings
- 9. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 8 Structure for Continuous Learning Ø Setup dashboard to monitor CS execution Ø Measure customer health and financial performance Ø Analyze trends and correlations Operational Analytics1 Common Operational Metrics Used for Churn Analysis, Correlation Analysis, Health Scoring • # of CSM touchpoints • # Customers onboarded • # playbooks executed • # of triggers initiated • Account coverage % • Net retention • Product usage • Customer health
- 10. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 9 Structure for Continuous Learning Ø Optimize segmentation and coverage Ø Refine playbooks and CSM actions Ø Adjust customer health scoring Ø Update dashboards and systems Model and Process Adjustments Ø Setup dashboard to monitor CS execution Ø Measure customer health and financial performance Ø Analyze trends and correlations Operational Analytics1 2
- 11. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 10 Structure for Continuous Learning Ø Optimize segmentation and coverage Ø Refine playbooks and CSM actions Ø Adjust customer health scoring Ø Update dashboards and systems Model and Process Adjustments Ø Setup dashboard to monitor CS execution Ø Measure customer health and financial performance Ø Analyze trends and correlations Operational Analytics1 2 Ø Establish process owner (e.g. CS Ops) and identify cross-functional participants Ø Maintain cadence for review of operational effectiveness Ø Develop process to make adjustments across the customer lifecycle Feedback Loop3
- 12. Chicago | San Francisco | (877) 603-1113 | www.waterstonegroup.com CONFIDENTIAL: Not to be distributed or reproduced without permission Let’s see continuous learning in practice
- 13. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 12 Example 1: Enterprise SaaS Company Looking to Drive Adoption of New Product Ø Initial set of onboarding, adoption and renewal playbooks established Ø Initial Customer Health scoring methodology established Ø Agreed on quarterly cadence to review analytics and make operational adjustments Ø First review process indicated: Ø Active usage highly correlated with onboarding velocity and first use in 30 days Ø Need for additional self-service training/content (based on input from CS and Support) Model and Process Ø Established dashboard to monitor CS execution (playbooks executed, # of customers onboarded, ratio of entitled to onboarded users) Ø Defined metrics to track usage and engagement (e.g. DAU’s, # of log-ins, etc.) Operational Analytics Feedback Loop 1 2 3
- 14. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 13 Example 1: Applying Continuous Learning Ø Updated playbooks for accelerated onboarding (including time based triggers) Ø Development of self-service content around new product offering Ø Identified additional adoption playbooks: no usage, drop in usage, feature adoption Ø Surfaced need for one-to-many communications and campaigns across the lifecycle Ø Need for updating health scoring to incorporate field input (CSM sentiment, sales view, etc.) Ø Included additional metrics (e.g. # of power users, ratio of active to registered users, time to onboard customers) Ø Analysis established to measure playbook effectiveness and correlations Revised Operational Analytics Feedback Loop 1 2 3 Model and Process Adjustments2
- 15. Example 2: Operational Customer Health Ø Tech-touch baseline to drive continued engagements Ø Periodic Customer check-in, value confirmation with CSMs Ø Monitor for escalations, major events Ø Mostly reactive Ø Customer Health requires periodic review, especially with a dynamic market Ø Regular deep-dive analytics reviews provide insight to hard-to-see details – cohort analysis, trends, predictions based on data Ø Team retrospectives can still help complete the story with qualitative history Model and Process Ø Start with best practices and available knowledge Ø Tiered (segmented) by Contract Value Ø Health is based on Engagement, Utilization, & Adoption Ø Automated monitoring and EWS in place Operational Analytics Feedback Loop 1 2 3
- 16. Example 2: Applying Continuous Learning to Customer Health Ø Updated Campaign targeting, focusing on case studies, value, and alignment to use case Ø Updated operational SuccessPlays increasing outreach, business review for value alignment Ø Updated Sales Qualification Criteria to reduce risk in pipeline Ø Closer alignment with Customer on use case and business value Ø Improved close rates by Sales due to better understanding of use case, better lead targeting Ø Enable proactive adjustment from more accurate Health -> drives reduced churn, higher CSAT Ø Re-segment according to churn risk Ø Additional automated metrics on communications, content engagement Ø Manual “CSM Sentiment” as part of EWS Ø Refined Health Model Revised Operational Analytics Feedback Loop Results 1 2 3 Model and Process Adjustments2
- 17. The Role of Technology in Continuous Learning Technology is a critical component for continuous learning ü Track real-time changes to operational metrics ü View trends of key metrics over time in intuitive charts and dashboards ü Avoid manual data analysis in spreadsheets and crazy pivot tables ü Implement course corrections with automated programs ü Involve the whole company in the feedback loop with company-wide access to customer data
- 18. A Customer in Great Health (over-utilized!)
- 19. But Then The Customer Cancels All Of A Sudden
- 20. Tracking Health
- 22. Adoption Trends
- 25. CONFIDENTIAL: Not to be distributed or reproduced without permission Webinar | Harnessing the Power of Continuous Learning in Customer Success | October 10, 2017 24 • Strengthened core CS assets (plays, automated programs, reporting, health scoring, etc.) • Advanced insights on root cause, correlations, and trends • Increased CS sophistication / maturity • Accelerated impact on key business metrics (net-retention, adoption, churn, etc.) What’s the Output of Continuous Learning in Customer Success? Better overall experience Higher ROI with your product Customers Increased agility Increased net retention Company Effective programs Responsive customers Customer Success Team
- 26. www.totango.com @totango hi@totango.com Jim Coleman SVP, Customer Success Hubert Selvanathan Principal www.waterstonegroup.com @WaterstoneMG hselvanathan@waterstonegroup.com Questions?