the experience economy customer success and...being customer-centric is not just about providing...

Customer Success and the Experience Economy

Created by Ryan Eckenrode

A quick thank you ● Ernest Andrade and the Charleston Digital Corridor● Laura Camacho of the Mixonian Institute


From ● Pittsburgh, PA● Lived in Boston for almost 5 years● Moved to Charleston last March

Profession: ● Relationship & Experience Marketing Specialist

@Blackbaud● Started a charity called BluEyes

Education● Massachusetts Institute of Technology, Sloan Sloan

School of Management● Carnegie Mellon University, Tepper School of Business● Point Park University

Career● Marketing, Sales, and Customer Success Leadership

Pittsburgh Boston

Charleston

Ryan Eckenrode

Quick Bio


Product Focus > Product + Service Focus >

Customer Focus > Technology/Automation >

Customer Success + Experience

1970s 1990s

early 2000s

Today


Yesterday

We are living in a different era


it’s important to understand that we now operate in a consumer-driven

economy where the experiences we provide, are the

heartbeat of our future


So, what does this mean for us?


Let’s break it down into 2 categories and some important supporting buckets

Customer Success The Experience Economy1. Customer Success Defined2. A Customer Nucleus Framework3. Internal Alignment4. Communication and Roadmap Synergy5. Key Performance Indicators

1. The Experience Economy Defined2. A Mission Led Cascade3. Behavioral Science4. Remembering to Have Fun


1 2

Customer SuccessIf you make sure your customers are successful,

they’ll make sure you’re successful.


Customer Success DefinedSimply put, “Customer Success is when your customers achieve their desired outcome through their interactions with your company.”

- Lincoln Murphy


Companies who prioritize customer success, generate 60% higher profits. - Leading on the Edge of Chaos 2018 research article


Did you know?Customer Success Defined


https://www.amazon.com/Leading-Edge-Chaos-Critical-Elements/dp/0735203121

and not just a means to an end.

Customer Success cannot be a bolt-on with a short-term intention of improving retention, driving account expansion, or increasing customer advocacy.


To be effective long-term, Customer Success must be your purpose...

Marketing and Sales

People and Operations

Revenue

Customer Success

Customer Success Defined


A simple CS staging breakdownCustomer Success Defined

1. Relationship development is incredibly important

2. Guidance and responsiveness = trust

3. Reciprocity goes an incredible long way

Customer Success Defined

Some quick advice


Customer Success Nucleus FrameworkThe nucleus is the central and most important part of an object, movement, or group, forming the basis for its activity and growth. --- This is Customer Success when it comes to your business


Being Customer-Centricis not just about providing great service, it’s offering an amazing and dependable

experience starting from the awareness stage all the way through the post-purchase

process. It’s a well-proven strategy which is based on putting your customer first, and at

the core of your business.

Customer Nucleus Framework


Challenges in achieving customer-centrism● Most companies do not have all of

the components in place to claim they are customer centric.

● You need to start with your customers, not your products and focus on what your customers want to do.

● By designing your company from the customer’s perspective, your organization will be focused on the customer’s needs.

Customer Nucleus Framework

- Steven MacDonald, SuperOffice


Quick Pause

Questions?

Internal Alignmentis critical to the overall success of a company, the personal success of each employee, and engagement within the company.


Empowerment

● Employee alignment motivates ->● Real alignment impacts business outcomes ->● Goal achievement leads to long-term employee satisfaction ->

BUT 70% of employees say alignment is the greatest hurdle to achieving company strategy.

So, where does the alignment issue reside: with the individual, or with executives who fail to communicate the company strategy effectively?

Both, this is a continued team effort.


Internal Alignment

● Effective alignment starts with executive leadership ...● is enabled by management ...● and sustained by employee-silo-mentality avoidance


Internal Alignment

Mission Vision > Goals > Metrics > Teams > Projects > Customer Success > Mission Accomplishment

Communication and Roadmap SynergyAligning your internal and external communication strategy with your customer roadmap sounds obvious but it’s often overlooked.


Awareness Consideration Conversion Loyalty Advocacy Retention


Marketing Automation

Email System

Phone Calls

In-Person Meetings

Direct Mail

Events

Social

Gifting

Adoption

Communication and Roadmap Synergy

Tools and Funnel

Internal Communication


External Communication

Don’t overlook transitional phases

With any company initiative, its success depends on whether employees are able—and motivated—to meet business goals and drive success. Strong internal communications drive and sustain change.

Effective external communication will start and keep your conversation going with your ideal prospects, customers, partners, and other external parties.

Typically during a transition phase i.e. Sales to Customer Success, the account owner changes. It’s important to align expectations both internally and externally.

Communication AlignmentCommunication and Roadmap Synergy

Key Performance Indicators

Data is powerful tool. Take advantage of the available technology and frameworks now available.


Which superhero are you

Captain Hindsight

Captain Hindsight has taken the world by storm, telling people what they should've or could've done to prevent their errors. His trusty sidekicks are Coulda, Shoulda and Woulda. His arch nemesis is Proactive Pam.

Proactive Pam

Proactive pam is an expert at paying attention to important data trends and quickly acting to help improve her efforts. She is fully aligned with company goals and a path to success. Her arch nemesis is Captain Hindsight.



Quantitative Impact Qualitative Impact

1. Bookings2. Revenue3. Pipeline (net new and expansion)4. Cost of Customer Acquisition5. Customer Lifetime Value6. Customer Adoption7. Customer Engagement8. Customer Renewal (contract and client)

9. NPS Referrals10. Customer Service Trends11. Customer Service - Time to Close12. Employee Turnover13. Employee Satisfaction

1. Departmental and Team Collaboration

2. Employee Enablement Progression3. Message Tone and Personalization4. New Hire - Onboarding to

Effectiveness5. Employee Happiness6. Management Happiness7. Customer Advocacy8. Brand Reputation


Track and Liberate Key Data



Quick Pause

Questions?

The Experience Economy

Our personal and professional lives are weaved together digitally and through blended

experiences. "memorable events" control perception and behavioral science takes over.


The Experience Economy Defined


A study by Harris Group found that 72 percent of millennials would rather open their wallets based on experiences rather than on material items

Created by Ryan EckenrodeCreated by Ryan Eckenrode

To best explain, I wanted share a quick excerpt from the Harvard Business Review - Welcome to the Experience Economy.

“To appreciate the difference between services and experiences, recall the episode of the old television show Taxi in which Iggy, a usually atrocious (but fun-loving) cab driver, decided to become the best taxi driver in the world. He served sandwiches and drinks, conducted tours of the city, and even sang Frank Sinatra tunes. By engaging passengers in a way that turned an ordinary cab ride into a memorable event, Iggy created something else entirely—a distinct economic offering. The experience of riding in his cab was more valuable to his customers than the service of being transported by the cab—and his customers happily responded by giving bigger tips. By asking to go around the block again, one patron even paid more for poorer service just to prolong his enjoyment. The service Iggy provided—taxi transportation—was simply the stage for the experience that he was really selling.”


A Takeaway for Marketers and CS LeadersThe Experience Economy Defined


There are many considerations marketers can take away from this discussion of the experience economy, but one stands out: If you want to build brand affinity, give the people what they want. What they want, it turns out, is an experience—something memorable, something they can connect with, something that makes them feel like less of a checkbook and more of a participant.

- Daniel NewmanCMO Network

Did you know?

A bad customer experience will have a reach twice as far as a good experience, and it will take 12 positive experiences to make up for one bad one. - HelpScout Survey



https://www.helpscout.net/75-customer-service-facts-quotes-statistics/

A Mission Led Cascade


Everything should start and end with your mission

Mission and Goals

A mission and goal led cascade = transparency and a common narrative to achieve focus and consistency.

Companies who have departments and teams who operate with a silo-mentality struggle with communication, synergy, collaboration, and ultimately, culture.


Mission + Goals


Starting to pull it all together...By now, you should be seeing quite a bit of crossover (customer focus - alignment -

communication, etc.). If you cascade all strategies down from your mission, you will be off

to a great start. Think about:

● Alignment of Image

● Alignment of Values

● Alignment of Operations

Your mission can always act as your North Star.



Behavioral ScienceBehavioral science isn’t a new industry, but within the past few years has become an emerging topic in marketing, research, and business


Underutilized

Behavioral science is probably the most overlooked aspect in business and company

growth. As an example, imagine sitting in a really comfortable chair on the top of a

mountain, in beautiful grass with a nice drink...

Often behavioral research seeks to understand the many aspects related to someone’s

habits and decision-making. Most importantly, it helps us to understand why people make

certain decisions (employees, prospects, customers, partners, etc.)

Behavioral Science


SimplifiedIt’s easiest to simplify behavioral science and the consistency of its impact. Think of it this way:

● You are always selling● You are always developing relationships● You are always trying to earn trust● Not everyone is like you and may react differently to similar circumstances

Upon many studies and research, we’ve learned that when folks decide not to buy in a b2b situation the main reason was usually due to the disconnect or dislike for the sales person. The best example of this is an extrovert overwhelming an introvert.

Behavioral Science


Remembering to Have FunLife is too short to not have fun and truly enjoy what you do.


Counterfeit statements

● Work is work, it’s not who I am

● I don’t bring work home with me

● I separate my personal life from my professional life

I can’t tell you how much of a lie this is. It’s simply not true and the sooner you understand

this, the better.

Do what you enjoy and what you are good at. If you can align your passion with your job

and the company mission, you will be dangerous AND HAPPY.

Remembering to Have Fun


In SummaryA Customer Success Focus + Experience Led Innovation = Consistent Growth


● Instituting a customer nucleus framework● A continued focus on internal alignment● Ever-evolving communication strategy and

roadmap synergy● Building off the perfect key performance

indicators● Continue on a mission-led cascade● Do not overlook and even start to build

processes based on behavioral science● Always remembering to have fun

Questions?

Ryan [email protected]


the experience economy customer success and...being customer-centric is not just about providing...

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