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How VP of CS preps for the Board

Preparing for board meetings can be a daunting task. In this week's webinar, our VP of Customer Success, Allison Pickens, discusses how to use Gainsight's rules and reporting capabilities to slash prep time and deliver an effective board meeting presentation.

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How VP of CS preps for the Board

  1. 1. Preparing for a Board Meeting Using Gainsight January 13, 2016 Allison Pickens VP of Customer Success & Business Operations
  2. 2. Agenda •  Key areas I cover in a Board Meeting •  Historical Top-line Financials •  Future Top-line Financials •  Cost Metrics •  Trends in Operating Metrics •  My focus: •  Key takeaways for each report •  Responses to likely questions •  Ten Tips for Budgeting for Customer Success
  3. 3. Historical Top-line Financials
  4. 4. Gross and Net Renewal Rate •  Gross Renewal Rate = •  Net Renewal Rate = •  Cumulative •  Displays renewals as they close Data is illustrative H i s t o r i c a l To p - l i n e F i n a n c i a l s
  5. 5. Potential Questions for Gross and Net Renewal Rate •  “That’s great that you achieved your target, but what’s your strategy for exceeding your current gross renewal rate?” •  “I have one portfolio company that’s achieved an X% net renewal rate. How are you going to do that?” •  “Your overall target might be X, but how are you splitting that target across different customer tiers?” H i s t o r i c a l To p - l i n e F i n a n c i a l s
  6. 6. Churn Story •  Explain why customers have churned •  Measures 8 risk categories •  Habits •  Readiness •  Sentiment •  Company •  Launch •  Support •  Product •  Bugs Data is illustrative H i s t o r i c a l To p - l i n e F i n a n c i a l s Example Customer
  7. 7. Potential Questions for Churn Story •  "To what degree was this churn a surprise?” (The answer should be “Not at all,” if we’re using our scorecard measures properly.) •  “How many other customers are in the same situation and thus are at risk of churn?” •  “What are you or other departments doing to prevent churn like this from happening in the future?” Data is illustrative H i s t o r i c a l To p - l i n e F i n a n c i a l s
  8. 8. Upsell, totals by Customer Tier •  Distribution of upsell across 3 customer tiers •  Degree upsell is being driven by Renewals & Expansion Data is illustrative H i s t o r i c a l To p - l i n e F i n a n c i a l s
  9. 9. Upsell, breakdown & by tier •  Size of upsell •  Strategic customers show larger expansion •  SMB customers have long tail of small upsells •  Potential Questions: •  “What are the use cases for these upsells?” •  “To what degree has each Renewals & Expansion manager met his/her upsell quota?” Data is illustrative H i s t o r i c a l To p - l i n e F i n a n c i a l s
  10. 10. Future Top-line Financials
  11. 11. Renewals Forecasting •  ARR for upcoming renewals •  Scorecard measures for each company to display risk Data is illustrative F u t u r e To p - l i n e F i n a n c i a l s
  12. 12. Potential Questions for Renewals Forecasting •  “What is your Gross Renewal Rate forecast?” •  “For those customers that are less likely to renew, what is the reason?” Data is illustrative F u t u r e To p - l i n e F i n a n c i a l s
  13. 13. Upsell Pipeline •  Based on current pipeline •  Renewals & Expansion manager for assistance in upsells •  Potential Questions: •  “Are the use cases for your forecasted upsell the same as those driving historical upsell?” Data is illustrative F u t u r e To p - l i n e F i n a n c i a l s
  14. 14. Cost Metrics
  15. 15. Accounts per CSM Data is illustrative C o s t M e t r i c s
  16. 16. ARR per CSM Data is illustrative C o s t M e t r i c s
  17. 17. Potential Questions for Cost Metrics •  “Is ARR per CSM improving?” •  “What’s your fully loaded cost of CSM per dollar of ARR managed?” •  “What’s your plan for meeting the 15-cents-per-dollar target?” C o s t M e t r i c s
  18. 18. Trends in Operating Metrics
  19. 19. Habits Scorecard •  What is driving success? •  Degree customers derive value from product •  “How did you arrive at the definitions of each of the 4 levels of Habits?” •  “What is your process for moving customers into the top levels?” Data is illustrative T r e n d s i n O p e r a t i n g M e t r i c s
  20. 20. Trends in Users •  Potential Questions: •  Growth of healthy-level users and daily active users •  “What caused each of the ups and downs for daily active users?” Data is illustrative T r e n d s i n O p e r a t i n g M e t r i c s
  21. 21. Top Drivers •  What is driving habits scores? •  Top customers •  Page views •  Unique Users •  Top Features Data is illustrative T r e n d s i n O p e r a t i n g M e t r i c s Top Customers
  22. 22. Potential Questions for Top Drivers •  Potential Questions: •  “What are you doing to make sure your top customers stay happy?” •  “What are you doing to drive adoption of Feature X?” Data is illustrative T r e n d s i n O p e r a t i n g M e t r i c s
  23. 23. NPS •  Shows NPS scores, grouped by Original Contract Date Data is illustrative T r e n d s i n O p e r a t i n g M e t r i c s
  24. 24. Potential Questions for NPS •  “What is your NPS goal, and why?” •  “What are the most common reasons for a Promoter rating?” •  “Would it be easier to increase your NPS by converting Passives into Promoters, or by reducing the number of Detractors?” T r e n d s i n O p e r a t i n g M e t r i c s
  25. 25. Risks •  Highlight potential causes of future churn •  Potential Questions: •  “Why is risk X so frequent, and what are you going to do to tackle it?” Data is illustrative T r e n d s i n O p e r a t i n g M e t r i c s
  26. 26. 10 Tips for 2016 Planning
  27. 27. ©2015 Gainsight. All Rights Reserved. 10 Tips for 2016 Planning (1) Position Customer Success as a Company Imperative (2) Articulate the Benefit to Other Departments (3) Pinpoint Your Metrics (4) Invest in Data (5) Budget to Benchmarks (6) Focus on What’s Scalable (7) Plan to Specialize (8) Assign Value to High-Touch CS (9) Develop a Repeatable Methodology (10) Invest in Customer Success Operations
  28. 28. ©2015 Gainsight. All Rights Reserved. Customer Sales Renewals Support Services Marketing Product Ensure solid handoff Create more targeted renewals experience Highlight high-priority customers Reduce implementation time Identify customer advocates better Give visibility into non-adopted features #1: Position CS as a Company Imperative
  29. 29. ©2015 Gainsight. All Rights Reserved. Customer Sales Renewals Support Services Marketing Product Get visibility into customer details Drive higher renewal rates and expansion Prioritize tickets Identify opportunities for services Proactively identify advocates Prioritize customer enhancement requests Finance Drive collections #2: Articulate the Benefit to Other Departments
  30. 30. ©2015 Gainsight. All Rights Reserved. #3: Pinpoint Your Metrics Operational Financial Renewal Rate Upsell ARR New Business ARR Risks Resolved NPS “Green” Customers Opportunities Identified Advocates Created Sponsor Changes Identified
  31. 31. 31 #4: Invest in Data - “Green” Customers X customers into Green Data is illustrative
  32. 32. 32 #4: Invest in Data - Risks Resolved Data is illustrative
  33. 33. ©2015 Gainsight. All Rights Reserved. #5: Budget to Benchmarks 15 Cents of Fully Loaded CSM Cost per $1 of ARR > Accounts / CSM $ ARR / Account Salary + Overhead / CSM x Pacific Crest Survey 2015 showed that median spend on renewals is $0.13 per $1 of ARR
  34. 34. ©2015 Gainsight. All Rights Reserved. #6: Focus on What’s Scalable Exec Sponsor Designated CSM Pooled CS Support Automated Outreaches Content Community Product “Automate your job”
  35. 35. ©2015 Gainsight. All Rights Reserved. Seed “Unicorn” CSM Series A + Support + Onboarding + Operations Growth-stage + Customer Marketing + Renewals + CS Architects + Premier CSM Pre-IPO + Training + Advisory Public + Partners + Managed Services + Domain Experts #7: Plan to Specialize
  36. 36. Premium + Premium Standard #8: Assign Value to High-Touch CS Client Strategy Manager 4 EBRs / year Onsite Strategy Workshop Change Management Customer Success Manager 2 EBRs / year Strategy Session Best Practices Workshops Pooled CS 1 EBR / year Strategy Webinar Content
  37. 37. #9: Develop a Repeatable Methodology Predictable Revenue Predictable Value Delivery Sales Development team Customer Success team New Business ARR Renewal ARR SQLs Green Adoption
  38. 38. #9: Develop a Repeatable Methodology
  39. 39. #9: Develop a Repeatable Methodology
  40. 40. Responsibilities Sales Operations CS Operations Data Reporting •  Share sales results and forecasts •  Share renewals/upsell results, forecasts Analysis •  Analyze leading indicators for sales •  Analyze leading indicators for renewals and upsell Processes Engagement process •  Determine timing and content of meetings to optimize conversion •  Determine touchpoints for CSMs to drive adoption and NPS External communication •  Coordinate with marketing •  Manage 1:M communications Risk management •  Provide visibility to at-risk deals •  Detect early warning signs for at-risk customers Opp. identification •  Identify top accounts •  Identify top customers for upsell X-functional coordination •  Coordinate processes across teams to help meet sales objectives •  Coordinate processes across teams to help deliver on customer needs People Team structure •  Manage AE territories, account segments and forecast hiring needs •  Tier customers, assign to CSMs, re-distribute load and forecast hiring Compensation •  Determine structure and quotas •  Determine metrics and targets Enablement •  Create collateral and data for AEs •  Provide collateral and data for CSMs Systems Technology •  Implement and manage tools for sales •  Implement and manage tools for CSMs #10: Invest in Customer Success Operations
  41. 41. ©2015 Gainsight. All Rights Reserved. Pulse 2016 May 10-12, 2016 Oakland, CA Epic.
  42. 42. Child-like Joy ©2015 Gainsight. All Rights Reserved. Gainsight Vault Best Practices you can import into your Gainsight environment. Currently holds Playbooks and Surveys Copilot Templates, Rules & Reports coming to Vault soon! https://support.gainsight.com/hc/en-us/articles/213757348- Gainsight-Vault
  43. 43. Child-like Joy ©2015 Gainsight. All Rights Reserved. Allison Pickens VP of Customer Success & Business Operations, Gainsight apickens@gainsight.com @PickensAllison Weekly Blog: http://www.gainsight.com/ customer-success-best-practices/

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