Winning with a New Approach to Customer Success
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The document discusses the importance of customer success management for SaaS businesses. It notes that customer loyalty is fleeting and cloud computing has increased customer expectations. An effective customer success strategy focuses on understanding customers, measuring their value over time, and driving recurring value through ongoing engagement. This involves monitoring customers in real-time to understand needs, diagnose issues, and take timely action to increase adoption, renewals, and upsells. The goal is reducing churn and expanding the customer relationship to maximize lifetime value.
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Winning with a New Approach to Customer Success
- 1. Winning with Customer Success Guy Nirpaz | CEO & Co-Founder | Totango
- 2. INITIAL REVENUE RENEWAL REVENUE Churn: Key inhibitor to growth Renewal revenue: 5-10X initial sale Land-and-expand: Common SaaS growth model Customer Success is the new frontier for SaaS businesses
- 4. • Customer loyalty is dead • Days of customer lock-in are gone • Cloud has changed the speed at which the world operates
- 5. VALUE over customer management CUSTOMER ACTIONS over words REAL-TIME SENSORS over historical snapshots CONTEXTUAL ENGAGEMENT over periodic check-ins ALL CUSTOMERS over high-value customers ALL USERS over buyers and decision makers A new approach to Customer Success It’s all about keeping your promise to customers… … and driving recurring customer value.
- 6. Customer Journey: Understand,Measure,Drive Recurring Value • Get to first value as soon as possible with onboarding • Focus on customer success and ongoing value to contain churn • Deliver new value to increase upsell and add-on sales DECREASE VALUE DECREASE VALUE CHURN CHURN GROW VALUE FIRST VALUE START INCREASE USERS INCREASE USAGE EXPAND FUNCTIONALITY CHURN ONGOING VALUE Onboarding Adop7on Renewal & Upsell
- 7. Monitor and listen to your customers in real-time ü Know which customers need your attention ü Know why (so you can diagnose and take the right action) ü Know at the right time (so you can have an impact) What you need: Sensors into customer value
- 10. over words
- 14. over buyers and decision makers
- 15. VALUE over customer management CUSTOMER ACTIONS over words REAL-TIME SENSORS over historical snapshots CONTEXTUAL ENGAGEMENT over periodic check-ins ALL CUSTOMERS over high-value customers ALL USERS over buyers and decision makers
- 17. Customer Success Management for subscription businesses • Reduce churn • Drive customer success • Impact conversion rates • Increase customer lifetime value LEARN MORE? www.totango.com 1-800-634-1990
Editor's Notes
- Now before we jump into the day and discuss playbooks, I’d like to take a step back and talk about customer success more broadly. Customer success means different things to different people. In the past year me and my team, together with our customers and leaders of the community have spent time to articulate what customer success is all about. We came out with the ‘Customer Success Manifesto’ which is basically set of practices implemented by the most successful organization when it comes to customer success. The customer success manifesto is intentionally designed as a basis for discussion in board meeting, by executive teams and for your to share with your peers and teams.
- The market realities today Customer loyalty is dead The days of customer lock-in are long gone and Technology has change the speed in which businesses operate We have to live by new rules, new rules for the new world
- What you need: ____ How Totango helps
- ● Customer Success is business success ● Customer Success goes way beyond customer management we can’t treat that as a repackaging of old world concept ● and the since the world is moving at a pace we’ve never seen before, we have to use technology at our hand to help us cope with rapid change we’ve looked around and the customer success themes
- Value over customer management First and foremost – Customer Value. Companies who are customer centric, focused on creating value to their customers and btw, not just thru the Customer Success Team. Companies that look from the ‘outside in’ from the customer’s perspective. Kerry Budine, the author of the great book ‘outside-in’ will take more about this in her keynote later today. This leads us to the next principle ** No Customer on this slide **
- Customer Actions over words Just talked about how important it is for customers to get value best way to know about it is to know how they are using our products or services unfortunately many businesses depend on guesswork subjective, opinions Alex - Crittercism You are a leader in this industry. you work at crittericm, one of the leaders in SV; turning mobile would you agree alex: thanks. we listen to signals from our customers and responding to those... to identify this is great for us. one of our secret weapons. used by many teams in the company. thank you for totango. it’s been a savior guy: look forward to hearing you share your The next practice that winning teams apply
- Realtime sensors over historical snapshots In the speed in which the world operates today, and new technological approach, sensors based in critical. Think about this for a second, a product evaluation these days is usually of 14 days, while the buying decision is being made in the first 24 to 48 hours – our data suggests. At the same way, on-boarding projects takes 8 weeks, but at the same time success/failure is decided on the first week or two. The point is we can’t wait for the data to come in, as businesses we need to be able to operate in real-time, and by real-time I mean at the right time so our actions can actually matter. John Broady, you’re a leader in this community, we’ve worked closely together in the past year. Can you please share with us what the revelation you and your team has with regards to customer timing? Thanks John; Real-time sesors over historical snapshots… This leads my to the next principle:
- Contextual engagement over periodic check-ins Customer and user moment of truth. They expect us to be there when they need us. Business can work on their own cadence and miss the customer timing completely. Again, the only timing that makes sense, if we’re thinking ‘outside-in’ is the customer timing. Ryan, you are a great leader amazed by the innovation you and your team have done in customer success. congrats on your success... probably #1 landing page tell me how you use contextual engagement We’ve talked up until now about: Value, Actions over words Real-time sensors and contextual engagement. The next best-practice that great companies do really well is:
- All customers over just highvalue customers Look at the new winner of our industry, look at all the recent and coming IPOs. If there is one thing that we’ve learned from SaaS is to focus on all customers and serve all of the very well. Companies that do that, invest in technology that allows them to create value to all of their customers, big or small, with high-contract value today or customers that will grow into high contract values. Sam Boonin, thanks for coming again this year, we’ve all loved your presentation from last year. You lead the product at Zendesk which is the poster child of a company that focused on all it’s customers. Tell us a bit more about that? Sam Boonin, Zendesk – thank you very much!
- All users over buyers and decision makers Users are driving our success – not just the decision makers and the buyers. You can get really sticky with your server if all users really love you – no matter if a new manager comes in, you’re there. Users move from one company to the other and bring your products with them!