More Related Content Similar to Kicking Ass with Customer Success; The Ultimate Growth Hack for Startups (20) More from Lincoln Murphy (8) Kicking Ass with Customer Success; The Ultimate Growth Hack for Startups1. KICKING ASS WITH CUSTOMER
SUCCESS
Lincoln Murphy, Founder, Sixteen Ventures
The Ultimate Growth Hack for Startups
Presented at:
8. Startups are a Business
The Product / Market Fit Fallacy
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9. You’ve got 99 Problems…
but Product / Market Fit isn’t One
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99 PROBLEMS
10. Startups need Churn to Learn?
No. This is a dangerous lie.
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11. Customer Churn Kills!
• Company Value
• Total Addressable Market
• Employee (and Founder) Morale
• Time!
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12. Customer Success is Hot
• Now part of the SaaS Business Model
• Driver of Customer Lifetime Value (LTV)
• Customer Stays Longer
• Customer Pays you More
• Customer Brings in Other Customers
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13. Customer Success is not Required
•You will not FAIL without it
•But you will not THRIVE
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15. What is Customer Success?
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17. Customer Success is when
your customers achieve their
Desired Outcome through
their interactions with your
company.
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18. Customer Success
Management is proactively
managing the process of your
customers achieving their
Desired Outcome
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20. When to do Customer Success?
Before you Launch (or Now)…
whichever is sooner
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21. Customer Development Process
• Identify their Desired Outcome
• Required Outcome
• Appropriate Experience
• Build your MVP around that
• Give them what they need, not what they want
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22. Why is Customer Success
the Ultimate Growth Hack?
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26. All of this is too important to
be left to chance.
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27. Customer Success is Transformational
1. Acquire the Best Customers
2. Engage & Deliver Value Quickly
3. Expand Their Investment
4. Mobilize your Advocates
5. Retain & Renew Customers
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28. 1. ACQUIRE THE RIGHT
CUSTOMERS
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31. Success Potential
• Only Acquire Customers with Success Potential
• Technical Fit
• Functional Fit
• Experience Fit
• Support Fit
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32. Use Customer Success to
influence your
Marketing and Sales
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35. Copyright © 2015 Sixteen Ventures. All rights reserved.
Customer Success = Their Desired Outcome
36. Copyright © 2015 Sixteen Ventures. All rights reserved.
Customer Success = Their Desired Outcome
37. 2. ENGAGE & DELIVER VALUE QUICKLY
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39. Success Milestones are
the steps required for a
customer to achieve their
Desired Outcome.
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41. 3. EXPAND THEIR INVESTMENT
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42. Copyright © 2015 Sixteen Ventures. All rights reserved.
“Customers that take an
upsell offer stay longer”
- McKinsey & Company
44. Copyright © 2015 Sixteen Ventures. All rights reserved.
Customer Lifetime Value is the
Key Metric
45. 4. MOBILIZE YOUR ADVOCATES
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46. Copyright © 2015 Sixteen Ventures. All rights reserved.
“Customers that come in
through advocacy stay
longer and buy more.”
- McKinsey & Company
47. Copyright © 2015 Sixteen Ventures. All rights reserved.
“Customers that advocate
for you become stronger
customers themselves.”
- Influitive
49. 5. RETAIN & RENEW CUSTOMERS
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50. Copyright © 2015 Sixteen Ventures. All rights reserved.
When Customer Success is
operationalized around Desired
Outcome-based Success Milestones,
renewals become a non-issue…
renewals just happen.
52. For a Deep-Dive on Customer Success
http://sixteenventures.com/case2015
55. For a Deep-Dive on Customer Success
http://sixteenventures.com/case2015
Editor's Notes Good feedback on this
Industry problem we are trying to solve
Switching costs have gone down and competition has gone up
Lead the conversation and recommendation
Marco trend
Analyst report Unicorns: Powered by Customer Success
Due to these new trends in business, especially subscription business models, there are new metrics to observe.
Net retention rates are now a key metric to track. It directly affects your company valuation. Gainsight has been shown to increase net retention by 5-10% points. Which can meaningfully also increase your valuation. Land and Expand