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How to Turn Your Customer Base into a Revenue Engine [INBOUND 2014]

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Presentation by Rebecca Corliss @repcor at INBOUND14.

How to Turn Your Customer Base into a Revenue Engine [INBOUND 2014]

  1. #INBOUND14 HOW TO TURN YOUR CUSTOMER BASE INTO A REVENUE ENGINE Rebecca Corliss Head of Customer Marketing, HubSpot
  2. When she’s not building HubSpot’s customer marketing group, she’s singing a cappella in her group @TheEightTracks. @repcor REBECCA CORLISS
  3. #INBOUND14 Problem: It had an explicit beginning and end. Customer Visit Opportunity Lead Prospect MQL HubSpot’s Original Funnel
  4. #INBOUND14 60 to 70% The probability of converting an existing customer is Study by Marketing Metrics It costs 5 to 20% The probability of converting a new prospect is
  5. #INBOUND14 Use the Inbound Methodology to build a customer marketing engine.
  6. 1  Build the Foundation of Your Customer Marketing Engine 2  Drive Revenue Through Retention 3  Identify Upsell Opportunities 4  Earn Referrals Through Customer Advocacy 5  Wrap Up: Building an Engine That Lasts What We’re Going to Talk About
  7. #INBOUND14 1 BUILD THE FOUNDATION OF YOUR CUSTOMER MARKETING ENGINE
  8. #INBOUND14 Four Components of Your Customer Marketing Engine Segment Data Content Channels Triggered by Data Customer Goal
  9. #INBOUND14 CUSTOMER GOAL An activity or action that benefits the customer and the campaign.
  10. #INBOUND14 Align Your Marketing Goal with How You Can Best Help Your Customer Active and Curious Customer Goal: Encourage customer to request a demo of an additional or advanced product. Inactive or Unhappy Customer Goal: Encourage customer to download lovable content that would help them get a quick win.
  11. #INBOUND14 SEGMENT DATA Data is your customers’ DNA. Use it to group like- customers.
  12. #INBOUND14 Blogs and creates content. Divide Your Customer Base into Segments
  13. #INBOUND14 Blogs and creates content. Determine Data to Recognize Someone in Each Segment
  14. #INBOUND14 Activities " Product Usage " Content Consumed " Emails Opened " Pages Visited Example Metrics to Segment Customers Signs of Satisfaction " NPS Score " Survey Responses " Product or Service Reviews " Engagement with Customer Service
  15. #INBOUND14 " Actively Uses the Product àMeasure Product Activity " Investigates New Features àTrack Page Views " Frequently Talks to AM àTrack Call Logs " Writes Positive Reviews àTrack Review History & NPS Example Segment: HubSpot’s Top Customer
  16. #INBOUND14 " Actively Uses the Product à 6+ Apps Used " Investigates New Features à 10 Page Views in 30 Days " Frequently Talks to AM à 2 Calls in 90 Days " Writes Positive Review à 1 Review Written Example Segment: HubSpot’s Top Customer
  17. #INBOUND14 Store Segment Data in a CRM or Database
  18. #INBOUND14 Use Your Data to Make Segmented Lists
  19. #INBOUND14 CHANNELS Deliver your content through channels triggered by specific data.
  20. #INBOUND14 Blogs and creates content. Pick Channels to Communicate with Customers Homepage Blog Articles Calls-to-Action Thank You Pages Email
  21. #INBOUND14 Blogs and creates content. Trigger Your Channels Using Your Data Homepage A Data Homepage B
  22. #INBOUND14 CONTENT Provide value and information through helpful content.
  23. #INBOUND14 Blogs and creates content. Decide What Content Will Best Help Each Segment
  24. #INBOUND14 Blogs and creates content. Your Content Will Drive Your Marketing Goal VALUABLE CONTENT GOAL
  25. #INBOUND14 Put it Together: The Customer Marketing Engine in Action Content Customer receives targeted content Customer Goal Goal for specific customer segment Channels Triggered by Data Triggers communication Segment Data Customer fits specific criteria
  26. #INBOUND14 2 DRIVE REVENUE THROUGH RETENTION
  27. #INBOUND14 5x Moreto earn a new customer than to retain a current one. Inc. Customer Service It costs !
  28. #INBOUND14 What is retention? Means different things in different industries So what is customer retention, really?
  29. #INBOUND14 Key Pieces of Successful Retention Driving retention is offering constant value to all customers, not just reacting to churn risk.
  30. #INBOUND14 •  Focus on your customers’ individual needs. •  Offer the value they expect from your product or service. •  Make delight a priority. Be a company customers love. How to Build a Successful Retention Campaign
  31. #INBOUND14 1  Set the Goal: What do they need to improve their experience? 2  Define Segment: How can you identify who needs help? 3  Pick Channels: How will you communicate to them? 4  Create Content: What content will improve their experience? Use the Customer Marketing Engine Structure: Help the Rocky Customer
  32. #INBOUND14 ContentGoal ChannelSegment Data Get a Quick Win in My Product No Login Past 30 Days Triggers Call-to-action Receives Helpful Ebook Help the Rocky Customer: Customer Marketing Engine in Action
  33. #INBOUND14 Happy & Active Needs Some Support
  34. #INBOUND14 Build Your Proactive Retention Engine 1  Build customer segments automatically through data. 2  Set up automatic nurturing to give each segment what they need most. 3  Focus on delight!
  35. #INBOUND14 3 IDENTIFY UPSELL OPPORTUNITIES
  36. #INBOUND14 What is an upsell opportunity? -- different for different industries. Upsell opportunities are your chance to get more revenue from your current customers.
  37. #INBOUND14 67%higher average spend than brand new customers. Inc. Customer Service Repeat customers have a
  38. #INBOUND14 •  Locate your happiest and most satisfied customers. •  Find customers who would value most from your additional products or services. •  Create a marketing funnel that identifies people who are interested in what your product/service solves. How to Identify an Upsell Candidate
  39. #INBOUND14 Build Your Customer Marketing Funnel $$$ Opportunity Customer Lead MQL Customers who download your specialty content. Customers who request information about a sales-specific offer. Customers who are engaged in a sales process. Customers who’ve closed.
  40. #INBOUND14 Campaign: Sell our new executive summit training to customers who would value it most. Example Customer Upsell Campaign
  41. #INBOUND14 1  Set the Goal: Encourage customers to consider training 2  Define Segment Data: Active customers 3  Pick Channels: Email, Blog, CTAs 4  Create Content: “How to Do Marketing Like HubSpot” Webinar Use the Customer Marketing Engine Structure
  42. #INBOUND14 Webinar to Attract Customers Interested in the Topic Sneak peek into the type of content the service would provide. Better: Valuable to any customer no matter what.
  43. #INBOUND14 CTA Drives Customers to Learn About Summit In the live webinar, we added a call-to-action that promoted the service.
  44. #INBOUND14 CTA Drives to MQL Customer Landing Page All signups get a follow up call from one of our customer service managers.
  45. #INBOUND14 Build Your Upsell Engine 1  Use content to attract customers who could be interested in your product. 2  Drive customers to an MQL event that identifies upsell candidates. 3  Begin the sales process, but maintain a customer service mindset.
  46. #INBOUND14 4 EARN REFERRALS THROUGH CUSTOMER ADVOCACY
  47. #INBOUND14 Imagine the last time you bought something. Why did you buy it?
  48. #INBOUND14 4x Morelikely to buy when referred by a friend. Nielson People are
  49. #INBOUND14 1  Set the Goal: Encourage happy customers to refer a friend 2  Define Segment Data: NPS 9 or 10 Users 3  Pick Channels: Automatic Email 4  Create Content: Incentivized Email Request Use the Customer Marketing Engine Structure
  50. #INBOUND14 Referrals Should Be Part of a Customer Advocacy Program
  51. #INBOUND14 Customers Can Help You: " Spread your content on social. " Teach others about your product or service at user groups. " Be a sales reference for a prospective customer. " Write a review. Extend Customer Advocacy Beyond Referrals
  52. #INBOUND14 ¤ Free product (free upgrade, free month, discount) ¤ SWAG and Gifts ¤ Gift Card ¤ Consulting Time ¤ Nonprofit Donation Ideas for Incentives
  53. #INBOUND14 Example Customer Advocacy Campaign ContentGoal ChannelSegment Data Encourage Content Share 10 Blog Views in 30 Days CTA and Homepage Free Ebook and Request to Share
  54. #INBOUND14 Full Customer Advocacy Suite Partner & Advocate Programs Focus on Easy Saas Referrals Example Referral & Advocacy Tools
  55. #INBOUND14 Build Your Customer Advocacy Engine 1  Identify your happiest, top customers using NPS score and previous reviews. 2  Set it up to run automatically. Use CTAs and email requesting their help. 3  Use incentives as encouragement and to say thank you.
  56. #INBOUND14 5 Wrap up: Building an Engine That Lasts
  57. #INBOUND14 Three Components to a Long-lasting Engine 1  Track lots of customer data. 2  Use your data for custom triggers. 3  Solve for the long-haul.
  58. #INBOUND14 Measure the impact of each of your customer marketing campaigns.
  59. #INBOUND14 RETENTION ENGINE Track churn rate or continued purchases.
  60. #INBOUND14 UPSELL ENGINE Measure additional revenue driven by current customers.
  61. #INBOUND14 REFERRAL ENGINE Track referrals driven by customers, as well as the close rate of those referrals.
  62. #INBOUND14
  63. #INBOUND14 THANK YOU Rebecca Corliss, HubSpot @repcor

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