Lincoln Murphy's Scaling Customer Success in NYC
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How Customer Success-centricity Drives Revenue, Growth, and Valuations
- 1. How Customer Success-centricity Drives Revenue, Growth, and Valuations Hello, my name is Lincoln Murphy I’m excited to be presenting to @LincolnMurphy
- 2. Stay longer Buy More Expand Internally Advocate Externally @lincolnmurphy
- 3. “POWER is the capacity to alter the state of others”
- 4. You EXIST to alter the state of your customers
- 5. You can’t TAKE power
- 6. Power is GIVEN
- 7. Initial Power Transfer Requires INITIAL TRUST
- 8. Ongoing Power Transfer Requires ONGOING TRUST
- 9. Newton’s 3rd Law
- 10. “What go around come around, kid.” – Cypress Hill
- 11. Make your CUSTOMERS powerful!
- 12. They’ll make YOU powerful!
- 13. HOW will they make you powerful?
- 14. Stay longer Buy More Expand Internally Advocate Externally @lincolnmurphy
- 15. Customers Making You Powerful Impacts Company VALUATION
- 16. Revenue x Multiplier = Value Company Valuation Calculation
- 17. Revenue x Multiplier = Value o There’s more! Company Valuation Calculation
- 18. 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
- 19. How do you make your customers POWERFUL?
- 20. By making them SUCCESSFUL
- 21. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 22. Customer Success is NOT… • Just a Department • Customer Support • Account Management • Happiness or Delight • Churn Mitigation • Saving Customers • “Checking in" with customers • Customer hand holding @lincolnmurphy
- 23. Customer Success is a GROWTH ENGINE
- 24. The DNA Dilemma
- 25. Customer Success CULTURE
- 26. Maintaining culture is one of the BIGGEST CHALLENGES as companies grow
- 27. Customer Success must be a part of the DNA
- 28. Customer SUCCESS- driven Growth
- 29. As customers SUCCEED and EVOLVE…
- 30. …their relationship with us should EVOLVE and GROW
- 31. Year 1 Year 2 Year 3 Year 4 Year 5 80% 20% Customer Lifetime Value @lincolnmurphy
- 32. Year 1 Year 2 Year 3 Year 4 Year 5 > 95% < 5% Customer Lifetime Value @lincolnmurphy
- 33. Customer Lifetime Value Year 1 Year 2 Year 3 Year 4 Year 5 > 98% < 2% Year 6 @lincolnmurphy
- 34. Resource Allocation Year 1 Year 2 Year 3 Year 4 Year 5 > 98% < 2% Year 6 @lincolnmurphy
- 35. EXPANSION is part of the Customer’s SUCCESS
- 36. Customer Success Management is the Orchestration, Operationalization, Instrumentation, and Intervention designed to ensure customers achieve their ever-evolving Desired Outcome. “ ” - Lincoln Murphy @lincolnmurphy
- 37. Customer Success Management @lincolnmurphy
- 38. Enrichment
- 39. Grow BECAUSE of your effort, not IN SPITE of it
- 40. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 41. Interactions Start EARLY
- 42. “The seeds ! of churn are ! planted early” ! – Lincoln Murphy! @lincolnmurphy!
- 43. Avoid BAD FIT Customers
- 44. Who Feels the Acute Pain? • Sales • Implementation • Product • Marketing • Support • Account Management • Customer Success Management • Your Customer! @lincolnmurphy
- 45. Acquire customers with SUCCESS POTENTIAL
- 46. Technical Fit Functional Fit Competence Fit Experience Fit Cultural Fit @lincolnmurphy
- 47. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 48. Required Outcome Appropriate Experience Desired Outcome WHAT your customer needs to achieve HOW they need to achieve it@lincolnmurphy
- 49. Customer Characteris9cs Method Customer (segment) Desired Outcome @lincolnmurphy Required Outcome Appropriate Experience
- 50. Air Travel Desired Outcome – Air Travel @lincolnmurphy Point A è B Safely & Quickly
- 51. Need to work, no 9me to eat Air Travel Desired Outcome – Air Travel @lincolnmurphy Point A è B Safely & Quickly Assigned sea9ng, WiFi, Food service, leg room Business Traveler
- 52. Save money, enjoy des9na9on Air Travel Desired Outcome – Air Travel @lincolnmurphy Point A è B Safely & Quickly Cheap fares, snacks & drinks Family Going on Vaca9on
- 53. Churn is the SYMPTOM of an Underlying Disease
- 54. @lincolnmurphy
- 55. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 56. 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
- 57. 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
- 58. Desired Outcome Customer Success is when customers achieve their interactions through with your companytheir “ ” - Lincoln Murphy @lincolnmurphy
- 59. Customer. SUCCESS.
- 60. When your CUSTOMERS Succeed...
- 61. YOU Succeed!
- 62. Thank You! @lincolnmurphy lincoln@lincolnmurphy.com
- 63. Awesome! Thanks for your attention. Learn more about me at http://sixteenventures.com And contact me via lincoln@lincolnmurphy.com @LincolnMurphy How Customer Success-centricity Drives Revenue, Growth, and Valuations
