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Customer Success - Why and How of Gainsight's 14 Elements

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These slides are from a breakfast event Gainsight hosted at the Royal Institution in Mayfair on Wednesday, the 13th of February. Dan Steinman, GM of Gainsight EMEA, and Easton Taylor, Director of Customer Success EMEA, shared best practices around organising for company-wide success and increasing revenue from within your customer base.

Veröffentlicht in: Software

Customer Success - Why and How of Gainsight's 14 Elements

  1. 1. DAN STEINMAN General Manager Gainsight EMEA STATE OF CUSTOMER SUCCESS
  2. 2. TRENDS
  3. 3. CUSTOMER SUCCESS DRIVES SALES1
  4. 4. Your prospects are talking to your customers
  5. 5. Advocacy is Everything
  6. 6. CUSTOMER SUCCESS IS A COMPANY-WIDE PRIORITY 2
  7. 7. It’s a top-down, company-wide commitment
  8. 8. IF CUSTOMER SUCCESS REMAINS JUST A DEPARTMENT, YOU WILL FAIL
  9. 9. CS CSM>
  10. 10. CAREER SUCCESS3
  11. 11. PRESCRIPTIVE4
  12. 12. We’re not really all that different
  13. 13. We just need a common language
  14. 14. PERIODIC TABLE OF CUSTOMER SUCCESS ELEMENTS
  15. 15. CUSTOMER SUCCESS5
  16. 16. Translated into Japanese and Portuguese “…more than 2 years after publication. It’s unusual for a book to sell so consistently at this point in its life– most books have flamed out by this point.” Maria Martinez 50,000+ COPIES SOLD
  17. 17. Easton Taylor Director of Customer Success, EMEA The Why & How Gainsight’s 14 Elements
  18. 18. Insights & Actions Turn data into meaningful actions across your team Outcomes Proactively deliver customer outcomes at scale Transform Rally your entire company around the mission of customer success Stages of Customer Success Maturity
  19. 19. © Copyright 2017, Gainsight, Inc., All rights reserved REACTIVE Manage escalations on a case-by-case basis INSIGHTS & ACTIONS Turn data into meaningful actions across your team OUTCOMES Proactively deliver customer outcomes at scale TRANSFORMATION Rally your entire company around the mission of customer success 80% 87% 89% 93% Gross Retention Chief Customer Officer Summit Benchmark Survey, 2018
  20. 20. © Copyright 2017, Gainsight, Inc., All rights reserved REACTIVE Manage escalations on a case-by-case basis INSIGHTS & ACTIONS Turn data into meaningful actions across your team OUTCOMES Proactively deliver customer outcomes at scale TRANSFORMATION Rally your entire company around the mission of customer success Chief Customer Officer Summit Benchmark Survey, 2018 Net Retention 92% 106% 113% 125%
  21. 21. © Copyright 2017, Gainsight, Inc., All rights reserved The Periodic Table of Customer Success Elements Lm 2 Lifecycle Management Cv 1 360° Customer View Ch 3 Customer Health Cx 4 Experience Management Ae 12 Advocate Engagement Su 13 Support Experience Pr 11 Product Success Se 14 Services Experience Am 5 Adoption Management Sa 8 Stakeholder Alignment Re 9 Risk Escalation Em 7 Expansion Management Sp 10 Success Planning Rm 6 Renewal Management INSIGHTS & ACTIONS OUTCOMES TRANSFORMATION
  22. 22. © Copyright 2017, Gainsight, Inc., All rights reserved The Periodic Table of Customer Success Elements Lm 2 Lifecycle Management Cv 1 360° Customer View Ch 3 Customer Health Cx 4 Experience Management Ae 12 Advocate Engagement Su 13 Support Experience Pr 11 Product Success Se 14 Services Experience Am 5 Adoption Management Sa 8 Stakeholder Alignment Re 9 Risk Escalation Em 7 Expansion Management Sp 10 Success Planning Rm 6 Renewal Management INSIGHTS & ACTIONS OUTCOMES TRANSFORMATION
  23. 23. © Copyright 2018, Gainsight, Inc., All rights reserved Elements Definitions Series 360o Customer View Cv360o Customer View 1
  24. 24. © Copyright 2018, Gainsight, Inc., All rights reserved Impact Retention Efficiency CV Element Overview Gainsight Strategy Aggregate key customer data into a holistic view The 360o Customer View Element will provide you with a single source of truth for all of your customer information Pain Point Data is spread across a number of disparate systems resulting in no easy or fast way to understand a customer
  25. 25. © Copyright 2018, Gainsight, Inc., All rights reserved Our customer data is spread across disparate systems, so understanding a customer is a difficult and slow process • It’s hard for our teams to collaborate on a customer • It takes lots of time to prepare for customer interactions • Our employees have inconsistent or even conflicting information about a customer ▪ Different systems disagree on the facts of a customer ▪ Notes are in unshared applications, are disorganized, and go away when an employee transfers off a customer The Pain
  26. 26. © Copyright 2018, Gainsight, Inc., All rights reserved Aggregate key customer data into a single source to provide a holistic view that enables the entire organization to do better work • Capture key information across teams (e.g., sales, success, support, services) and types of data (e.g., product usage, interactions) • Provide a single and actionable view of customer health • Give each team insights into relevant business relationships, products, and service engagements • Share insights directly with customers via automated exports and access to live reports The Strategy
  27. 27. © Copyright 2018, Gainsight, Inc., All rights reserved • Improve efficiency by reducing the time spent gathering information for a consistent and holistic view of the customer • Improve retention by providing impactful context to all customer- facing teams • Create a better customer experience by ensuring all customer- facing teams are up-to-date on the most relevant customer interactions The Impact
  28. 28. Elements Definitions Series Lm 2 Lifecycle Management Lifecycle Management
  29. 29. © Copyright 2018, Gainsight, Inc., All rights reserved Impact Retention Efficiency LM Element Overview Gainsight Strategy Define the customer experience across the lifecycle and reinforce a consistent experience through outreach and visibility The Lifecycle Management Element will help you create a consistent customer journey across all customer segments and lifecycle stages Pain Point No consistent customer engagement and experience across all stages of the lifecycle
  30. 30. © Copyright 2018, Gainsight, Inc., All rights reserved We engage with our customers haphazardly, and the checklists we do have tend to do things to the customer without necessarily getting them additional value • Inconsistent experience from customer to customer, even on key steps like EBRs • Unclear customer expectations and handoffs • Repetitive manual actions • Similar experiences, regardless of customer segment • Customers get only what they ask for, not what we know most customers need The Pain
  31. 31. © Copyright 2018, Gainsight, Inc., All rights reserved Establish a consistent customer journey • Define the experience for each customer segment in onboarding and while live • Drive each critical milestone in the customer journey, each “Moment of Truth”, with human or automated outreach • Reinforce a consistent experience through visibility into customer progress, and focusing the team on achieving the intended outcome for the customer’s business at each key moment in the customer journey The Strategy
  32. 32. © Copyright 2018, Gainsight, Inc., All rights reserved Your customer journey is defined by Moments of Truth (MoT). A MoT is a ‘make-or- break’ situation, where a customer commits to the outcome emotionally, taking it as a sign of whether their partnership with you will be successful A MoT is: • How the customer would describe the experience to a friend • What the customer gets out of or learns from the experience Then define what your organization does to support that MoT and who does it Tips • Your MoT should have nothing to do with your product or your needs -- it would still make sense to the customer, even if they had bought a competitor’s product • If this is your first time defining your MoTs, start small. Identify just a few. Constructing a complete customer journey is a valuable, but massive, project. The Strategy
  33. 33. © Copyright 2018, Gainsight, Inc., All rights reserved The Strategy The Delivery Medium Evaluation Onboarding Live The customer journey is peppered with Moments of Truth. Create the experience for each. The Message The Recipient Customize by customer segment
  34. 34. © Copyright 2018, Gainsight, Inc., All rights reserved The Strategy The Delivery Medium The Message The Recipient ● Human-led vs Digital-led ● Features and workflow ● Accountability ● Seamless cross-functional work ● Tracking ● Iterative improvement Effective delivery requires both technical and organizational components
  35. 35. © Copyright 2018, Gainsight, Inc., All rights reserved • Increase retention by delivering a consistent and seamless customer experience • Increase efficiency by standardizing and streamlining execution on Moments of Truth The Impact
  36. 36. © Copyright 2018, Gainsight, Inc., All rights reserved Elements Definitions Series Customer Health Ch 3 Customer Health
  37. 37. © Copyright 2018, Gainsight, Inc., All rights reserved CH Element Overview Gainsight Strategy Set up scorecard measures that are shared across the organization Impact Retention Expansion Advocacy The Customer Health Element provides a consistent and shared view of where you are (or are not) providing your customers with value and positive experiences, equipping you to increase retention, expansion and advocacy Pain Point No consistent and cross-functional way to identify and visualize data- driven measures of customer health
  38. 38. © Copyright 2018, Gainsight, Inc., All rights reserved We do not have a consistent way to identify and visualize data- driven measures of customer health • Often oversimplification of customer health into one metric, or so many metrics of customer health that our team disagrees on which to trust or to use to take action • Spotty, hard-to-get, or absent information about our customers’ outcomes and experience The Pain
  39. 39. © Copyright 2018, Gainsight, Inc., All rights reserved Set up scorecard measures for both Outcomes Health and Experience Health • Track outcomes using the DEAR framework—deployment, engagement, adoption and ROI—to define, capture, and visualize the health of their outcomes • Track experience using the ‘listening posts’ established in the Expansion Management Element (CX) • Identify high-risk and successful customers, to prioritize and shape interactions with them The Strategy
  40. 40. © Copyright 2018, Gainsight, Inc., All rights reserved • Granular scores provide detail and insight into what actions to trigger to generate more value for the customer (see Adoption Management Element) • Increase retention by engaging at-risk customers (see Adoption Management Element) • Increase expansion by targeting healthy customers who may be candidates for upsells and cross-sells (see Expansion Management Element) • Increase advocacy by leveraging healthy customers (through the Advocate Engagement Element) The Impact
  41. 41. © Copyright 2018, Gainsight, Inc., All rights reserved Elements Definitions Series Renewal Management RmRenewal Management 6
  42. 42. © Copyright 2018, Gainsight, Inc., All rights reserved RM Element Overview Gainsight Strategy Use CTAs to build a renewals process that provides visibility and predictability Impact Retention The Renewal Management Element will help you set up and execute a best-in-class renewals process and accurately forecast renewals Pain Point No clear process for managing and forecasting renewals, which negatively impacts GRR and NRR
  43. 43. © Copyright 2018, Gainsight, Inc., All rights reserved We are reactive in our approach to renewals and each Renewal Lead handles renewals in their own way, both leading to inaccurate and non-predictive forecasts, which negatively impact our GRR and NRR • Each renewal is handled differently and manually, especially when coordinating across functions, so we can’t rely on consistent execution and it’s hard for us to scale up • There are at-risk renewals, but we don’t know which accounts they are or how to engage them effectively • We can’t rely on our forecast to adjust business targets and strategies ▪ It’s unclear which renewals are upcoming ▪ It’s unclear how we’re tracking towards our goals and forecast ▪ It’s unclear how at-risk renewals should affect our forecast, whether we’re forecasting near-term or into future quarters The Pain
  44. 44. © Copyright 2018, Gainsight, Inc., All rights reserved Implement a prioritization-enabled renewals process to provide visibility and predictability, help build reliable forecasts, and ensure a scalable and consistent approach • Decide on best practices, including cross-functional strategies and processes, and hold your team to executing them • Adopt automation to be proactive and timely in dealing with upcoming renewals • Leverage health scores, renewal process tracking, and success plans (where relevant) to prioritize resources on the accounts that can result in the largest impact for your effort • Create forecasts on a consistent suite of reports and indicators of risk The Strategy
  45. 45. © Copyright 2018, Gainsight, Inc., All rights reserved • Drive increased retention by executing the most effective processes for closing your renewals • Increase revenue by prioritizing resources on the highest impact (for effort) renewals • Provide cross-functional visibility on customers • Greater visibility of expected and forecast renewals and revenue The Impact
  46. 46. © Copyright 2018, Gainsight, Inc., All rights reserved Elements Definitions Series Stakeholder Alignment SaStakeholder Alignment 8
  47. 47. © Copyright 2018, Gainsight, Inc., All rights reserved Impact Retention Expansion SA Element Overview Gainsight Strategy Nurture relationships between customers’ executives and your management, to uncover their goals and reinforce your value The Stakeholder Alignment Element will help you build and maintain stronger relationships with customer executives, thereby increasing retention (and potentially expansion) Pain Point Customer decision makers don’t value the impact we’re making, leading to downsell and churn
  48. 48. © Copyright 2018, Gainsight, Inc., All rights reserved The customer’s executive decision makers are distant third parties • Their needs and objectives change frequently, so we find ourselves investing time and effort in strategies that are out-of-date • When we only contact them personally around the time of the renewal (even if we’ve been working with people on their team), they feel that we see them only as buyers, not that we care about their success • They don’t appreciate progress that we’re making, or what value it will add, leading to churn The Pain
  49. 49. © Copyright 2018, Gainsight, Inc., All rights reserved Implement processes that personally engage your customers’ executive decision makers • Identify decision makers consistently • Match them with ‘buddies’ from your management, who are accountable for maintaining the relationship • Engage them with calls and emails with their ‘buddy’, which are valuable for them personally, uncover their current objectives, and reinforce outcomes being delivered • Use automation to create a consistent and scalable process The Strategy
  50. 50. © Copyright 2018, Gainsight, Inc., All rights reserved • You build and maintain strong relationships with executive decision makers • These key stakeholders value you as a thought partner and understand the value you add to their business • Your efforts align with the customer’s strategic priorities • These factors drive improved retention and expansion The Impact
  51. 51. Elements Definition Series Advocate Engagement Ae 12 Advocate Engagement
  52. 52. Pain Point It’s a struggle to engage our successful customers in driving new business through references or advocating for us Gainsight Strategy Create systems that routinely identify advocates, mobilize them to participate in activities that fuel growth, and track their participation AE Element Overview Impact New Business Expansion Retention In the Advocate Engagement Element, you will mobilize advocates and keep track of advocacy events such as sales reference calls, webinar participation, and speaking engagements
  53. 53. © Copyright 2018, Gainsight, Inc., All rights reserved It’s a struggle to engage our successful customers in driving new business through references or advocating for us • It’s time-consuming to identify and coordinate references, which slows down sales • We don’t know how much pipeline our advocates influence • CSMs never quite get around to fostering advocacy • We struggle to find customer speakers for events and webinars, resulting in last-minute fire drills • Our main advocates are fatigued with all of our requests for their help The Pain
  54. 54. © Copyright 2018, Gainsight, Inc., All rights reserved Create systems that routinely identify advocates, mobilize them to participate in activities that fuel growth, and track their participation • Identify advocates through your Experience Management (CX) and Customer Health (CH) Elements • Engage new advocates with a digitally-assisted case study process • Mobilize advocates through CTAs & Playbooks for sales reference calls, webinar participation, speaking engagements, and more • Track impact through Reports & Dashboards The Strategy
  55. 55. © Copyright 2018, Gainsight, Inc., All rights reserved • More advocates identified • Greater volume of advocate activity • Faster and more appropriate references • Improved retention and expansion The Impact
  56. 56. Questions?
  57. 57. Dan Steinman GM Gainsight EMEA Easton Taylor Director of Customer Success, EMEA Kevin Shirley Director of Sales, EMEA Making Customer Success a Company-Wide Initiative

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