Partner Programs and Customer Success-driven Growth
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Developing the Ultimate Customer Success Strategy - Storm Ventures
- 1. Developing The Ultimate Customer Success Strategy Hello, my name is Lincoln Murphy I’m excited to be presenting to you today! @LincolnMurphy
- 2. Stay longer Buy More Expand Internally Advocate Externally @lincolnmurphy
- 3. @lincolnmurphy
- 4. Make your CUSTOMERS powerful!
- 5. They’ll make YOU powerful!
- 6. HOW will they make you powerful?
- 7. Stay longer Buy More Expand Internally Advocate Externally @lincolnmurphy
- 8. This Directly Impacts Company VALUATION
- 9. Revenue x Multiplier = Value Company Valuation Calculation
- 10. Revenue x Multiplier = Value o There’s more! Company Valuation Calculation
- 11. Revenue x Multiplier = Value o Customer Lifetime Value (LTV) o Customer Acquisition Cost (CAC) o Net Revenue Retention (NRR) o Total Addressable Market o Talent Acquisition o There’s more! @lincolnmurphy Company Valuation Calculation
- 12. Year 1 100% Customer Lifetime Value @lincolnmurphy
- 13. Year 1 Year 2 Year 3 Year 4 Year 5 80% 20% Customer Lifetime Value @lincolnmurphy
- 14. Year 1 Year 2 Year 3 Year 4 Year 5 > 95% < 5% Customer Lifetime Value @lincolnmurphy
- 15. Customer Lifetime Value Year 1 Year 2 Year 3 Year 4 Year 5 > 98% < 2% Year 6 @lincolnmurphy
- 16. Resource Allocation Year 1 Year 2 Year 3 Year 4 Year 5 < 2% > 98% Year 6 @lincolnmurphy
- 17. How do you make your customers POWERFUL?
- 18. By making them SUCCESSFUL
- 19. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 20. Customer Success is NOT... • Just a Department • Only Account Management • Customer Support • Churn Mitigation • Saving Customers • “Checking in" with customers • Customer hand- holding • About Happiness or Delight @lincolnmurphy
- 21. Customer Success is a GROWTH ENGINE
- 22. Customer SUCCESS- driven Growth
- 23. As customers SUCCEED and EVOLVE…
- 24. …their relationship with us should EVOLVE and GROW
- 25. RENEWAL & EXPANSION are part of the Customer’s SUCCESS
- 26. Customer Success Management is the process of moving the customer toward their ever-evolving Desired Outcome. “ ” - Lincoln Murphy @lincolnmurphy
- 27. Customer Success Management is... • Segmentation • Orchestration • Intervention • Measurement • Expansion • Communication • Instrumentation • Operationalization
- 28. Customer Success Management @lincolnmurphy
- 29. Grow BECAUSE of your effort, not IN SPITE of it
- 30. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 31. Interactions are… • Intervention – Proactive – Reactive • Transactional • Self-service @lincolnmurphy
- 32. Interactions include… • Implementation • Onboarding • Training • Integration • Help • Upsell • Renewal • Support • Knowledge Base • Product Use @lincolnmurphy
- 33. Interactions Start EARLY
- 34. “The seeds ! of churn are ! planted early” ! – Lincoln Murphy! @lincolnmurphy!
- 35. Avoid BAD FIT Customers
- 36. Who Feels the ACUTE Pain of Bad-fit Customers? • Sales • Implementation • Product • Marketing • Support • Account Management • Customer Success Management • Your Customer! @lincolnmurphy
- 37. Acquire customers with SUCCESS POTENTIAL
- 38. @lincolnmurphy Technical Fit Functional Fit Competence Fit Success Potential is… Experience Fit Cultural Fit
- 39. Sales Marketing Customer Success Operationalized Enrichment @lincolnmurphy
- 40. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 41. Required Outcome Appropriate Experience Desired Outcome WHAT your customer needs to achieve HOW they need to achieve it@lincolnmurphy
- 42. Shared Customer Characteris:cs Method Customer Segment Desired Outcome @lincolnmurphy Required Outcome Appropriate Experience
- 43. Air Travel Desired Outcome – Air Travel @lincolnmurphy Point A è B Safely & Quickly
- 44. Need to work, no :me to eat Air Travel Desired Outcome – Air Travel @lincolnmurphy Point A è B Safely & Quickly Assigned sea:ng, WiFi, Food service, leg room Business Traveler
- 45. Save money, enjoy des:na:on Air Travel Desired Outcome – Air Travel @lincolnmurphy Point A è B Safely & Quickly Cheap fares, snacks & drinks Family Going on Vaca:on
- 46. Email Marke:ng Desired Outcome – Email Marketing @lincolnmurphy More people to my event
- 47. DIY, no $$$, tech-first Email Marke:ng @lincolnmurphy More people to my event API, self-service, Slack support channel Early- stage Startup Desired Outcome – Email Marketing
- 48. Must work, has $$$, less- tech Email marke:ng @lincolnmurphy More people to my event GUI, 24/7 Support, 3/yr contract F500 Dept Desired Outcome – Email Marketing
- 49. DESIRED OUTCOME is the key to SCALING Customer Success
- 50. COVERAGE LEVELS and RESOURCES are determined by DESIRED OUTCOME
- 51. Logically SEGMENT Customers
- 52. Typical Customer Segmentation… @lincolnmurphy
- 53. Typical Customer Segmentation… @lincolnmurphy
- 54. Appropriate Experience Segmentation… @lincolnmurphy
- 55. Multiple Required Outcome Segmentation… @lincolnmurphy
- 56. Cohort Segmentation… @lincolnmurphy
- 57. Churn is the SYMPTOM of an Underlying Disease
- 58. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 59. Without Customer Success • Stagnating Customers • Customer Churn • Revenue Churn • Reputation Suffers • TAM shrinks • Sales Friction Increases • Sales Cycles Extend • CAC Increases • Talent Acquisition Suffers • Company Value Drops @lincolnmurphy
- 60. With Customer Success • Expanding Customers • Net Revenue Retention • Great Reputation • TAM Increases • Sales Friction Decreases • Sales Cycles Shorten • CAC Efficiency • Talent Acquisition Improves • Company Value INCREASES @lincolnmurphy
- 61. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 62. Customer. SUCCESS.
- 63. When your CUSTOMERS Succeed...
- 64. YOU Succeed!
- 65. Thank You! @lincolnmurphy lincoln@lincolnmurphy.com
- 66. Awesome! Thanks for your attention. Learn more about me at http://sixteenventures.com And contact me via lincoln@lincolnmurphy.com @LincolnMurphy Developing The Ultimate Customer Success Strategy
