This is a Dreamforce '13 presentation from our session on how to engage customers for life. This presentation highlights how companies can and are using data to help identify opportunities and engage with customer at the right moments to drive adoption and renewals.
Ms Motilal Padampat Sugar Mills vs. State of Uttar Pradesh & Ors. - A Milesto...
Engage with Intelligence to Retain Customers for Life
1. Engage with Intelligence
to Retain for Life
Richard Campione, Board Member & President ServiceSource
Doug Schmitt, VP & GM Global Support & Delivery Dell
3. “The more you engage with customers the
clearer things become and the easier it is
to determine what you should be doing.”
-John Russell, President, Harley Davidson
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5. Especially important in the new economy
Old
Economy
New
Economy
• More choice
• Everything-as-a-service
• Try-before-you-buy
• Lower switching costs
Supplier:
Build, Sell,
Ship
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Customer:
Pull
Differentiation through
service, adoption and
delivering customer value
6. Customer data reflects the customer journey hard to leverage for engagement & renewal
Market
Marketing
Automation
Web
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Sell
Implement
SFA
Project Mgt
Finance
Accounting
Billing
Support
Service
Usage
#DF13 insight: @ServiceSource says the key for renewals is having a
high touch, high engagement sales model. #recurringrevenue
Renew
7. Recurring revenue presents different
challenges than new revenue
New revenue
Recurring revenue
• Discovery driven process
• Handful of opportunities per
quarter
• Hundreds of opportunities per
quarter
• Timeline is open ended
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• Can’t even start without data
• Perishable: driven by expiration
#DF13 insight: @ServiceSource says comparing new sales to #renewals
is like comparing Twinkies to bananas – they’re fundamentally different
8. Companies forced to solve with people and XLS
ERP
Recurring Revenue Customer
Engagement
CRM
Accounting
Marketing
Billing
HR
CPQ
Order Mgt
Entitlement
Manufacturing
Supply Chain
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SFA
Channel
Commerce
Service
9. Renewal reps spend more time pulling data
than talking to customers
SFA
(n)
PRM
CRM
SERVICE
QUOTE
ENTITLEMENT
ASSETS
ORDER
ERP
Admin:
>50%
Selling to
Customers: <50%
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#DF13 insight: @ServiceSource says renewals sales reps spend < 50%
of their time selling due to time spent gathering and prepping data
10. Superior results require intelligence:
optimise timing and grouping of opportunities
Current State
• Data is frequently inaccurate and incomplete
• Renewals assumed to “just happen” – no optimising timing for quarter results
• Simple processing of contracts: FIFO or sort by total dollar$
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11. Superior results require intelligence:
optimise timing and grouping of opportunities
A → A’
A Better Way
• Accurate data and guided selling
• Renewals managed as perishable assets
A →A+B
• Optimise grouping at asset level for upsell
and cross sell
• Accelerate timing: pull forward into
present quarter for improved results
A+B→C
COTERMINATE
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12. The problem is bigger than just data…
it’s the high volume of perishable opportunities
$30B
Problem
It’s a timing
problem
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It’s a volume
problem
#DF13 insight: @ServiceSource says $30B in #recurringrevenue slips
through the cracks every year due to untapped renewal opportunities
13. Cloud app for recurring revenue management
ERP
CRM
Accounting
HR
Marketing
Billing
Order Mgt
Entitlement
CPQ
Manufacturing
Supply Chain
SFA
CPQ
Sales Execution
Channel
Actionable Insight
Commerce
Renewal Ready Data
Service
Enabling Data-Driven Optimization for Recurring Revenue
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14. Focus on best ways to engage
Follow-up on these
actions
Close these deals to
exceed target
Run a save play
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Engage with these
customers now
15. Guide reps through the playbook
What’s Happening?
Headline on deal status
What has
happened?
Quickly review prior
deal activity
What should I
do?
Targeted sales
plays and how to
run
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16. Intelligence drives what to offer and when
Right offers at the
right time
Recommended
up-sell
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Complete view of
customer installed base
17. Know more, sell more, keep more…
We enable
you
Data Services
Professional Services
Selling Services
We do it
for you
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Enablement Services
15pt
improvement in
renewal rates
20%
increase in sales
productivity
#DF13 insight: @ServiceSource says with #cloud platform #Renew
OnDemand, renewals sales productivity is increased by an average of 20%
18. The market leader in
Recurring Revenue Management
Software
Hardware
Networking
Healthcare & Life
Science
New Markets
(XaaS)
$9B+
under management
10 OF THE TOP 15 F100 Technology-Based Companies
7 OF THE TOP 10 Software as a Service Companies
6 OF THE TOP 6
4 OF THE TOP 5
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Enterprise Network Storage Companies
Integrated Systems Vendors
13 years
Expertise & focus
47 seconds
A renewal is closed
21. Doug Schmitt
VP & GM Global Support & Delivery
Richard Campione
Board Member & President, Cloud & Data Services
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22. "In 2012, we began an effort to simplify every
aspect of the customer relationship. If successful,
we believe this initiative will make it easier for
customers to do business with Dell, eliminating
friction and complexity and enabling more rapid
response to customer needs.”
-Michael Dell (April 2013)
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23. To learn how you can gain intelligence about your
customers, improve customer engagement and
increase renewal rates by 15 pts
Visit our booth: #N1423
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