retention is the new acquisition

B2B Forum March 17th, 2016

Retention is the new Acquisition

Joseph Jaffe [email protected] Twitter: @jaffejuice (917) 603-4639 #hashtag

The reat Resolve

People love to buy… …but they hate to be sold to

What’s the Next Big Thing?

Writing the book on the future (4 times)

Customer Experience (2010) New Media (2005) Social Media (2007)

Common Sense (2013)

WAS ACQUIRED BY WAS INVESTED IN BY WAS ACCELERATED BY

ACQUIRED FOR $178M

ACQUIRED FOR $500M

ACQUIRED FOR $150M + $475M

WAS INCUBATED BY

What if?

INVESTED $500M IN

What if we got it all wrong?

Do the Math

Every single spend you make is binary: 1: Value to customer 0: Value to you

12% 6% 3%

What’s the point of fishing if your net’s full of holes?

Time to spurn the concept of churn

The rise of account based marketing

Ownership (Equity/R&D)

Referrals (New Acquisition)

Content / Conversation / Commendations

Upsell/Cross Sell

Competitive Conquesting

Churn/Attrition

Introducing A.D.I.A. aka The Flipped Funnel

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Retention becomes the NEW acquisition

Hypothesis 1:

Zappos

Customers will pay a premium for great service

Segment your Customer Segment your Customer

Customer Centricity + Influence = Advocacy

Start a Customer Movement

Customer Service becomes THE strategic differentiator

Hypothesis 2:

The 4 P’s are Commoditized.

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Customer Service is the NEW Marketing/P.R./Crisis Communication

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This is not your grandfather’s customer service

Customer Service doesn’t stop at 5pm on a Friday 2

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5

1

7

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From “everything” to “everyone” communicates All customers are equal (some more than others) Customer service is not only about solving problems Customer service lives “in the now” Customer service can be a revenue generator Customer service lives in the public domain Customer service is an ongoing commitment Customer service can be proactive & anticipatory Customer service is alive

The New Rules of Customer Service

The REAL role of social media is RETENTION

Hypothesis 3:

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Social = WATER

Media = OIL

The REAL role of Social Media

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I’ve got 5,000 followers on Twitter. How about you? LIKE me on Facebook? Add me to your Google + Circles? Wait, do circles event exist anymore? Hashtag me on Instagr.am. Check into me

on Swarm…

Dude,you’re a friggen’ shoe! And I’m pretty

sure some of that activity is illegal

Facebook “Like” broadening the wrong end of the wrong funnel © “Flip the Funnel: How to use existing customers to gain new ones” (2010, Wiley) by Joseph Jaffe

Awareness(

Interest(

Desire(

Ac.on(

Like = Satisfactory

This is a people business driven by technology – Jim Bush (American Express)

How do you scale humanity?

Slovenia Janeiro, Brazil

Belgrade, Serbia Bangalore, India

#ViewFromMyDesk “Container Spotters”

Sometimes you’ve got to go off-script…

Putting it all together

Funnel of Attention Funnel of Trust

Funnel of Customer Experience

© “Flip the Funnel: How to use existing customers to gain new ones” (2010, Wiley) by Joseph Jaffe

Acquisition Retention

New Acquisition

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The New Integration: Traditional Funnel meets Flipped Funnel

80% of CEOs believe they deliver a superior customer experience; only 8% of their customers agree (Bain)

$83 billion is lost each year in the U.S. thanks to poor customer experience (Genesis)

Close the Loop

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Connect the Dots

A customer-centric ecosystem powered by technology

Your customers are your most influential salespeople; your employees are your most credible spokespeople

53 Your employees are an asset

Your “cult”ure is an Asset

HootSuite (#HootAmb)

Your customers are an asset

Recurring Revenue might be the Holy Grail of B2B, but it doesn’t give you license to become complacent

Forget renewals and focus on renewing your vows

Give people a reason to believe

Stop hiding behind technology and instead embrace humanity

People don’t care how much you know, Until the know how much you care.

The smallest things..are the cheapest things… are the most valuable things

RESOLVED!

Your customers love to buy

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Evolution Revolution

www.jaffejuice.com +1 917 603 4639 (to speak to me)

e-mail: [email protected] Twitter: @jaffejuice

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