the secret to rapid growth in any market: take your company to the next level with customer success

THE SECRET TO RAPID GROWTH IN ANY MARKET

Lincoln Murphy, Founder, Sixteen VenturesCustomer Success Strategist, Gainsight

Take your company to the next levelwith Customer Success

Presented at:

Lincoln Murphy@lincolnmurphy

For a Deep-Dive on Customer Success

http://sixteenventures.com/rdsummit


Gol!!!!

Copyright © 2015 Sixteen Ventures. All rights reserved.

“The purpose of business is to create and keep a

customer.”

The initial sale is critical, but it’s just the tip of the iceberg

What is Customer Success?


Customer Success is when your customers achieve their Desired

Outcome through their interactions with your

company.Copyright © 2015 Sixteen Ventures. All rights reserved.

Why is Customer Success something you

should care about?


David SkokMatrix Partners

http://www.forentrepreneurs.com/why-churn-is-critical-in-saas/

Customer Success Drives First-order Growth

Source: http://www.saastr.com/its-not-just-cltv-its-your-trgcltv-that-matters-total-all-in-revenue-generated-by-your-customer/

Customer Success Drives Second-order Growth

0x

5x

15x

20xEV

/ Re

venu

e M

ultip

le

Dollar Net Renewal Rate60% 70% 80% 90% 100% 110% 120%

Source: Altimeter and FactSet 10/2014

10x 7X

15X

CSM Drives Third-order Value

It’s too important to be thought of as “post-sale”

or be left to chance.


How is Customer Success different than what most companies

normally do?Copyright © 2015 Sixteen Ventures. All rights reserved.

Customer Success is Transformational1. Acquire the Best Customers2. Engage & Deliver Value Quickly3. Expand Their Investment4. Mobilize your Advocates5. Retain & Renew Customers


1. ACQUIRE THE RIGHT CUSTOMERS


ReadyWillingAbleAcquisition EfficiencySuccess PotentialExpansion PotentialAdvocacy Potential


Ideal Customer Profile

Ideal Customer ProfileReadyWillingAbleAcquisition EfficiencySuccess PotentialExpansion PotentialAdvocacy Potential


Success Potential• Only Acquire Customers with Success Potential

• Technical Fit• Functional Fit• Experience Fit• Support Fit


Use Customer Success to influence your

Marketing and Sales


“Enter the conversation already taking place in your customer’s mind.” – Robert Collier


“Enter the conversation already taking place in your customer’s mind.” – Robert Collier, c1937



Customer Success = Their Desired Outcome

The topic of the conversation in their

mind


Customer Success = Their Desired Outcome

2. ENGAGE & DELIVER VALUE QUICKLY


3. EXPAND THEIR INVESTMENT



“Customers that take an upsell offer stay longer”

- McKinsey & Company


Customer Lifetime Value is the Key Metric

4. MOBILIZE YOUR ADVOCATES



“Customers that come in through advocacy stay

longer and buy more.”- McKinsey & Company


“Customers that advocate for you become stronger customers themselves.”

- Influitive

5. RETAIN & RENEW CUSTOMERS



When Customer Success is operationalized around Desired

Outcome-based Success Milestones, renewals become a non-issue…

renewals just happen.

WHAT ABOUT CHURN?


“The purpose of business is to create and keep a

customer.”

Lincoln Murphy@lincolnmurphy

the secret to rapid growth in any market: take your company to the next level with customer success

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