Subscribed 2016: Tackling the Growth Trifecta - Pricing Flexibility, New Market Segments, Massive Sales Growth
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Vonage, an award winning VoIP service, shares how they were able to achieve the growth trifecta: delivering unmatched pricing flexibility, acquiring a new market segment, and massively growing their sales team. Check out Zuora Academy for more actionable advice for finance, marketing, tech, operations, product, and more. All the info you need to build and run an amazing subscription business: https://www.zuora.com/academy/
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Subscribed 2016: Tackling the Growth Trifecta - Pricing Flexibility, New Market Segments, Massive Sales Growth
- 1. Tackling The Growth Trifecta Customer First, Pricing Flexibility, New Market Segments = Sales Growth
- 2. welcome meet today’s panel page 02 Teri McEvily VP & GM Vonage Business Daragh Mahon Sr. Director Business Services Vonage Business David Reiling VP Customer Success Zuora
- 3. Vonage Transforms the Way People Connect by Challenging the Status Quo and Finding a Better Way • Vonage (NYSE: VG) is a leading provider of cloud communications services for businesses and consumers. The Company provides a robust suite of feature-rich business and residential communication solutions that offer flexibility, portability and ease-of-use across multiple devices designed to meet the needs of a wide range of customers. • Vonage is transforming the way people work and businesses operate through a portfolio of business products covers the full spectrum of business communications needs, including business process integration with leading CRM and productivity applications, such as Salesforce and Google for Work. • Vonage provides bring-your-own-broadband (BYOB) cloud products and those that offer carrier- grade reliability and Quality of Service (QoS) across BYOB options and the Company's private, national MPLS IP network. Vonage serves the full spectrum of the business market, from single- person companies to large enterprises with thousands of employees across multiple locations. • In 2015, Vonage was named a Visionary in the Gartner Magic Quadrant for Unified Communications as-a-Service, Worldwide, and also earned the Frost & Sullivan Growth Excellence Leadership Award for Hosted IP and Unified Communications and Collaboration (UCC) Services.
- 4. Vonage ConsumerProducts • Unlimited calling in the U.S. and to + 60 countries • 29% of Asian Indian households in the U.S. • 37% of Vonage customers make international calls • $9.99/month for the first year • Unlimited calling across the U.S., Canada, Mexico and PuertoRico • Talk as much as you want to anywhere, fromanywhere Vonage® World Vonage ® North America Vonage® Extensions /MobileApp • 36% of international calls over Vonage network are from a mobile phone • 53% of Extensions calls over Wi-Fi • New Extensionsfunctionality • Home phone number is family identity in the home and mobileenvironment
- 5. Vonage Business Services Products page 05
- 6. Business goals and objectives for the project page 06 A. Increase Customer Satisfaction C. Increase productivity and reduce costs B. Provide the right platform for revenue growth D. Streamline processes E. Increase employee satisfaction
- 7. Technical goals and objectives for the project page 07 A. Support the business needs C. Use standard configuration when possible B. Reduce operational cost and system complexity D. Reduce business complexity
- 8. project timeline page 08 21 3 4 evaluate/plan feb 2015 design apr 2015 build jun 2015 test sep 2015 go live! nov 2015
- 9. the guiding principles when designing our quote-to-cash flow page 09 Streamline operations Deliver flexibility in pricing Establish unified sales experience
- 10. benefits for the sales team page 010 100% Autonomous Deliver accurate, professional, quotes Higher quote acceptance rate
- 11. Benefits in pricing/packaging increased pricing/bundling options for multiple business models page 011 Easy to create bundles Better campaign management (e.g. price promotions) White label and wholesale pricing
- 12. Aligning multiple departments to serve the needs of the customer page 012 Create a better experience Reiterate the need for faster, better processes to acquire customers Enhanced invoicing/billing to deliver smooth customer experience
- 13. Navigating change management • Constant communication • Detailed communication planning • Project team immersed in Vonage community • Clear expectation setting • Change champions and executive support • Avoid fall-back mentality • Relentless and unwavering
- 14. partnering with Zuora page 014 joint planning executive supporttimely execution
- 15. benefits realized page 015 01Enabling growth through a common quote-to-cash platform 03 Reduced time to fulfill subscriptions (3 days to 5 mins) 02Increased sales efficiency (reps live in one system)
- 17. Check out Zuora Academy for more great info and actionable advice. All the info you need to build and run an amazing subscription business. https://www.zuora.com/academy/
Notas del editor
- David will provide a simple introduction for Teri, Daragh, and himself
- DAVID: Teri, please briefly tell us a little about Vonage, the company and where you fit into the #SubscriptionEconomy Response: Describe Vonage business overall and how it is growing and changing
- DAVID: Please describe the way Vonage goes to market and what services you offer to your [consumer, B2C] #subscribers
- DAVID: Now, please describe the way Vonage Business goes to market and what services you offer to your [business, B2B] #subscribers
- DAVID: As we developed a business relationship and learned more about Vonage, we defined then deployed a project based upon a Zuora/Salesforce to address your entire Quote To Cash work stream. Can you please describe the business initiative(s) that fueled this? Response: EXPAND MARKETS SPEED to DELIVER SERVICE POSITIONED for GROWTH (of Vonage business)
- DAVID: Now that we know the business drivers behind this project, can you describe how the technical aspects of the project fulfilled those business objectives? Response: Pulling cost, increasing system flexibility, unified platform, removed redundancies DAVID: And what were the high level system components put in place and what were some of the outcomes? Response: Mention the overall system components (Zuora, SFDC). Dozens of APIs replaced with an integration layer
- DAVID: This timeline looks aggressive for a large enterprise deployment of a system supporting a business transformation. Was it aggressive and, if so, how did you balance time, requirements, and resources to deliver the project? Response: Agreement developed between Zuora and Vonage that it was do able. Then this became reality… Challenges and obstacles overcome… Executive sponsorship, #1 priority for biz for the year
- DAVID: In the design of the Q2C project to match the quote-to-cash flow process, how did you define the guiding principles of the project for this process within Vonage? Response: As the GM and business leaders, I [Teri] had the principles in my head. The interactions with the team were where I laid them out... DAVID: Of those principles in your head, why were they critical to Vonage? Response: DAVID: What process or activity helped to operationalize the guiding principles for the Q2C process flow into the project? Workshops? External inputs? Internal Expertise? Response: [Daragh] All of the above. Expertise from Zuora, Vonage, and external folks. We worked with the Zuora team to flesh them out into guiding principles, then operating tasks.
- DAVID: One of the targets for the project was “Sales Growth”. What did you offer to the Sales team as an enhanced process with which they could achieve that? Response: Integrated quoting process… DAVID: And what results did they actually see from their perspective? Response: Provided smoother, unified quoting process…
- DAVID: Another target was Pricing flexibility and supporting the opening of new market segments. What results did you see for the business in these areas? Response: Unleashed the ability to price however we wanted, conduct “what if” scenarios both without any development or system support overhead or resources…
- DAVID: You mentioned earlier and improved Q2C process flow and specifically quoting process that benefited the sales team. How did these improvements benefit other departments, and ultimately the customers? Response: Use answers on slide and specifically explain how the invoicing component was a key customer experience improvement. Make specific comments about Vonage, your industry, and it’s customer’s unique invoicing requirements
- DAVID: We see many large enterprise deployments executed well on the technical and business solution fronts, but falter or even fail due to poor or lack of change management within the organization. How did Vonage approach CM for this project and what level of import was it given? Response: Answers on slide. Emphasize those that were unique to this project. COMMUNICATION, NO FALL-BACK, RELENTLESS. Emphasis was on CM because we already had strong technical solution (Zuora) and resources (Zuora + Vonage)
- DAVID: If CM was so critical to your success, describe how the relationship with Zuora during the entire Customer Life cylce complimented that? Response: Not just technical expertise, business acumen was present, industry knowledge and context. The Zuora 9 keys were a great way to organize the solution and steps to achieve it DAVID: What were the key aspects of how Zuora partnered with you that made the deployment of the solution successful? Response: Zuora had as much “skin in the game” as Vonage. We acted like ONE TEAM in the partnership. Leveraged a strong governance model with full participation from Zuora and Vonage up through the executive levels from both
- DAVID: I think by now, most of the audience is beginning to recognize the benefits Vonage received by transforming your Q2C process. Were there specific points or examples of when you realized the benefits expected were starting to happen? Response: Daragh tees up the “ah hah” moment in the SC meeting when Teri grinned from ear to ear after reaching the provisioning process in < 5 mins. Teri describes her own reaction and the rest of the executive team attending during and afterward
- DAVID: To wrap up our discussion, building on the success of this project now behind you, are you targeting further expansion of the platform into other areas of your business? Response: [Daragh] references the new project for PREMIER. This will result the entire $1B+ Vonage business revenue stream being supported by Zuora