To Monetize or To Not Monetize - CSSummit18
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To Monetize or To Not Monetize - CSSummit18
- 1. To Monetize .. or not Monetize .. Three companies … 3 Customer Success launches and lessons learned Note: All financial numbers have been modified to protect financial information but still illustrate concepts.
- 2. “We believe it is in both the customer’s best interest and the technology company’s best interest to have a funding model that ensures the right services are available to customers for the long haul” -- Source: 2017 State of Recurring Revenue, Technology Services Industry Association
- 3. The Agenda: ACT 3 2018 ACT 1 ACT 2 2016 2017
- 4. Act 1: SciQuest Client Partner Program Program Summary: • 17 Client Success Partners • Allocated to customers above a threshold • No Charge – Investment in Renewals Offer Summary: • Primary Contact Post Implementation • Strategic Performance Reviews • Solution Reviews • Releases Preparation & Guidance • Escalation Management Dedicated CP Transition to Support Performance Review KPI’s Metrics, Benchmarking Release Education SOLUTION REVIEWS 2016
- 5. Everything went great until new leadership asked … Metric Answer Revenue Growth No .. Customer Renewals Tangentially .. Profitability Negatively? Can you demonstrate your impact on: Sales CEO Support Success Added a Quota Cut ½ the team Lost another 3rd Failed Expectations
- 6. The Agenda: ACT 3 2018 ACT 2 2016 2017
- 7. Act 2: BravoSolution Customer Success Situation • Account Management buried in accounts = Stunted Revenue Growth • Professional Services can’t roll off = Poor Utilization Solution: Customer Success • Customer Health Measurement • Lifecycle Tracking • Issue Management / Escalations • Voice of the Customer
- 8. The Foundation People TechnologyProcess Sr. CSA CSA X 1 X 2 Sr. CSA X 1
- 9. Once again ..everything went great until new leadership asked … Metric Answer Revenue Growth No .. Customer Renewals Tangentially .. Profitability Negatively? Can you demonstrate your impact on:
- 10. The Agenda: ACT 3 20182016 2017
- 11. Today we are always asking: Metric Answer How Revenue Growth Yes Success Package Revenue: Target 30-50% of Customers Customer Renewals EOY – 2018 Correlation: Health / Plays / Renewal Profitability By Project Operationalize Customer Lifecycle How will we demonstrate measurable impact on:
- 12. Success Packages Success Packages Ala Carte Services Success Pack Pricing and ARR Account Fake ARR Premier Min Premier ARR Premier + Min Premier + ARR
- 13. Renewals Risk Assessments Regular Risk Reviews Risk Assessments Improved Health
- 14. Example Life Cycle Project & Impact Project Impact Clear handoff from PS to Success Improve Utilization New User Onboarding Reduce Support Costs Super User Training Reduce Escalation Costs …
- 15. To Monetize .. or not Monetize.. YES!!
- 16. But…….Is this right for you? What is your organization’s funding / investment model? What is your investors time horizon? What is your role/opportunity to contribute to valuation?
- 17. Thank you!
Notas del editor
- Open with Questions to the Audience (right before lunch) Please stand up if your organization has a clearly defined strategy for monetizing customer success Please remain standing if you can point to a clearly defined financial measure of success (Revenue or Renewals) (If enough are standing) – How many of you are operating in B2B environment? Transition: This presentation tells the story of two false starts where we could NOT remain standing because we did not monetize. And who lost? The Team? Yes … Our Organization .. Yes .. .but most importantly .. The Customer.
- Points: No alone in this assertion TSIA Feels the same Believe in CS Believe in sustaining it because WE MAKE CUSTOMERS SUCCESSFUL.