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SalesConf - Uncovering a Treasure Trove of Sales Opportunities using Customer Data

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This slide deck is from a presentation on accelerating the sales cycle by leveraging Customer Success data - Lincoln Murphy was the presenter - at SalesConf 2014 in San Francisco, CA.

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  • Hey guys! Who wants to chat with me? More photos with me here 👉 http://www.bit.ly/katekoxx
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  • @Tom Blue Under 'Successful' in the Ideal Customer Profile - what I now refer to as 'Success Potential' (it's always evolving) is where I'd put the technology requirements. If you sell a 100% Native Salesforce app, even if users of other CRMs *could* use your product, those with the most success potential are current Salesforce users. Maybe it doesn't always apply, but if your product depends on the existence of another for your customers to be successful, then that has to figure into your Ideal Customer Profile.
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  • Gainsight's tool looks awesome at finding out who your ideal customer is. We have spent a lot of hours narrowing down our ideal clients - one of them being SaaS Sales pros. We give them lists and research about which technologies prospects are using - Oracle, Marketo, SAP, etc. One thing that I didn't see in this presentation is flagging the technologies that your ideal customer uses. For example, we have plugins with Salesforce and will soon have ToutApp/Zoho/MS Dynamics. These customers are 3x more likely to buy our products and be long term clients. Users with custom CRM solutions are not.
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SalesConf - Uncovering a Treasure Trove of Sales Opportunities using Customer Data

  1. 1. UNCOVER A TREASURE TROVE OF SALES OPPORTUNITIES USING CUSTOMER DATA Lincoln Murphy @lincolnmurphy
  2. 2. Lincoln Murphy Lincoln Murphy is Gainsight’s Customer Success Evangelist and is responsible for driving Gainsight's thought-leadership in the areas of Customer Success, retention, churn mitigation, and expansion revenue. Lincoln’s passion is creating efficient engines of growth for SaaS (Software-as-a- Service) and Subscription Economy companies. Prior to joining Gainsight, Lincoln spent five years with Sixteen Ventures where he worked with 300+ SaaS and enterprise software vendors migrating to SaaS - from SAP to Hubspot, and from Microsoft to Zendesk – to accelerate @lincolnmurphy growth through Customer Success.
  3. 3. Agenda 1. Ideal Customer Profile 2. Net New Opportunities 3. Upsell Opportunities 4. Q&A
  4. 4. http://sixteenventures.com/salesconf
  5. 5. Ideal Customer Profile  Ready  Willing  Able  Successful  Profitable  Expansion Potential  Advocacy Potential
  6. 6. Ideal Customer Profile  Ready  Willing  Able  Successful  Profitable  Expansion Potential  Advocacy Potential Isn’t Ideal Customer Situational?
  7. 7. Ideal Customer Profile  Ready  Willing  Able  Successful  Profitable  Expansion Potential  Advocacy Potential
  8. 8. NEW OPPORTUNITIES
  9. 9. Methodology 1. Determine the Situation you’re Solving For 2. Get access to your Customer Data 3. Find the Customers that Match your Situational Criteria 4. Append Data for those customers (Demo, Tech, etc.) 5. Look for common / shared characteristics 6. Use those patterns to find new customers that match that profile 7. Profit!
  10. 10. FIND YOUR MOST SUCCESSFUL CUSTOMERS… AND GO GET MORE JUST LIKE THEM
  11. 11. Surface Your Most Successful Customers  You could pull together:  average Net Promoter Score (NPS) over time  Sales cycle length  Time to first value  On-boarding/implementation milestones and timing  Customer Support data  Get your Account Managers to apply a “health” score – based on their gut – to each of the customers they manage  Gainsight makes this easy  don’t be afraid to pitch your product!
  12. 12. Surface Your Most Successful Customers  Understanding what goes into making your customers successful will surface ideas on what to look for in prospective customers.  What acquisition channel did they come in through?
  13. 13. FIND YOUR MOST PROFITABLE CUSTOMERS… AND GO GET MORE JUST LIKE THEM
  14. 14. Find Your Most Profitable Customers  This cost is generally referred to as Customer Acquisition Cost (CAC), and should be “fully loaded” including all the costs to:  Advertise to  Sell to  Support during a Free Trial or Proof of Concept  Convert to paying customer  Immediate-post-sale costs  Ongoing cost to support regular use
  15. 15. Find Your Most Profitable Customers  Look for customers:  That had a short sales cycle  Have a high LTV  Have long-term contracts  Frequently Increase usage/buy add-ons/etc.  Have a low cost to support  Or all of the above?  What are the patterns? What are the characteristics of those customers?
  16. 16. IDENTIFY CUSTOMERS THAT EXPANDED THEIR USE OF YOUR PRODUCT… AND GO GET MORE JUST LIKE THEM
  17. 17. Identify Customers that Expanded Use  Intra-Company Virality  “Should we go after Enterprise or SME customers?  Get a list of companies that have expanded their use over their lifetime with your company.  What are the patterns and common characteristics? Who did you initially sell to?  What department/persona?
  18. 18. Identify Customers that Expanded Use  When it comes to expansion potential, that potential is only realized when the customers have achieved success... when their customer health score is high.  No Customer Success… No Expansion Revenue. Period.
  19. 19. FIND YOUR CUSTOMERS THAT ARE YOUR BIGGEST ADVOCATES… AND GO GET MORE JUST LIKE THEM
  20. 20. Create an Army of Advocates  Inter-Company Virality  Chasing logos is fine... If they bring you more logos!  And the only way Advocacy happens is if customers are finding success with your product.  No Customer Success... no Advocates.  While you may not WIN the deal because of customer advocacy, but you may be IN the deal because of it.
  21. 21. Create an Army of Advocates  Look for customers that have:  Referred new customers (in-product, WOM, etc.)  Have given testimonials  Have talked to prospects on your behalf  Have spoken at your events  Participated in case studies with you  If not for you, have they done it for others?
  22. 22. http://sixteenventures.com/salesconf
  23. 23. UPSELL OPPORTUNITIES
  24. 24. Upsell Opportunities 1. Be Clear On What Success Means 2. Set Goals With Your Customers 3. Benchmark Where Your Customers Start 4. Identify Success Milestones For Upsell 5. Mention Upsells Early In Their Lifecycle
  25. 25. http://sixteenventures.com/salesconf
  26. 26. Questions? Lincoln Murphy @lincolnmurphy Additional Resources at: http://sixteenventures.com/salesconf

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