Have you heard your Customer Say “I get 10x, 20x, 30x ROI using your products ? How to amaze customers, partners , users and shareholders ? How to crush revenue numbers Quarter over Quarter or Year Over Year ? How to expand our product reach beyond geographies across all product lines ? All these are accomplished through NextGen Adoption, Retention & Expansion product strategies and Yes you will then hear them say those magical words ….
Some key Stats “Acquiring a New Customer is 5 to 25 times more expensive than retaining an existing one”. That states why it’s even more important to focus on activation, adoption, retention & expansion driving Life Time Value of Customer even higher !!!!
The SUCCESS MANTRA is to have an exemplary Post Purchase Cycle with extreme focus on Customers to make them successful leveraging our products & getting exceptional ROI. Same or even more rigor that we show while acquiring New Logo with innovating Marketing strategies embedded..
KEY POINTERS :
Leveraging a Unified Product Repository with
problems,
solutions,
customers,
needs,
wants,
customer success stories,
detailed use cases,
current product life cycle stage mapped to various technology adoption life cycle customers ,
actual investments done with benefits/ROI realized ,
customer product progression journey starting with different products etc
KEY STRATEGIC AREAS:
LAND – Acquiring New Logos
ADOPT – Increasing product activation, adoption &usage with seamless implementation & onboarding
EXPAND – Proliferating product subscription and/or install base through win-win X-sell & up-Sell strategies
RETAIN – Allowing customers to keep getting exceptional value on their investment in us
LAND
We have talked a lot about targeted GTM strategies followed with ingrained RESEARCH, POSITION, MESSAGE, PROMOTE, SUPPORT to LAND those rich products in the hands of customer
All the Marketing, Product Engineering, Sales, Service, IT & Finance Team work cohesively helping prospect at every stage of Customer journey to attract, nurture & convert.
We need to make sure all the Value Proposition with TCO, ROI , Business Outcomes, Solutions for addressing the problems, needs, wants that was promised is very well documented , shared with Customer including timeframe of outcomes to be realized incrementally TO GAIN EXTREMELY HIGH TRUST & CONFIDENCE ON US.
To summarize, this is the backbone with strategic approach to make NextGen Customer Success Marketing an extremely rewarding one - making post purchase customer journey stage – THE MAGICAL GROWTH MACHINE … More tactical details on other posts from channel to revenue for acquiring New Logo.
ADOPT
This is the initial stage of the NextGen CS Marketing.
Very detailed Implementation methodology with key milestones needs to be followed for success. BUT more important is to guide & work with Customers for Value Realization
Seamless Onboarding experience
Daily, Weekly & Monthly Usage statistics along with user adoption & business outcomes accomplished
Key Metrics around WHAT FEATURES have NOT been explored / Leveraged to get the most business benefit of leveraging our product
Milestone & Strategies to LEVERAGE those Unused Features
Monthly ValueRealization Checkpoint showcasing Promised ROI Vs Actual Realized : This is THE MOST IMPORTANT item that will make your customers your BRAND ADVOCATES and increase your NPS SCORE significantly
GOAL of this phase is to have :
100% adoption
More than 100% Business Outcome Realization
More than 1x , 2x ROI Accomplished
Proactive Issue Identification, Resolution with Five 9s and 0 downtime
Workflow /Process Driven Customer Success Stories shared with potential ROI as well
EXPAND
Innovative Processes embedded with visionary growth mindset needs to be shared with Customers
Product Usage with metrics, insights & measurable progression path
X-Product Usage with real world Customer References embedded who have taken same growth journey
Product User Base - up scaling X-Department with Real Customer story Narration
Customer Specific Use cases with Current landscape benefits as well as Incremental To-Be State Landscape accomplishing medium & long term vision.
GOAL of this phase is to have :
Extreme Satisfaction for current landscape
Very clear Understanding of the To-be State with business benefits & Progression path
Very clear To-Be Metrics / Value Realization for Up-Scaling the Current Landscape
Extremely Clear To-Be Metrics /Value realization for X-selling the Current Landscape
1-to-1 , 1-to-Many, Many-to-Many Customer References through Executive Briefing Center / Customer Briefing Center
In nutshell, The art of Expansion with Customer Success Mindset helps to increase the Life Time Value of Customer Many Many folds & you will be surprised to hear numbers like 100 times growth…
RENEW
The Renewal Process is a breeze when we are by the side of our customers at every step after the contract is signed to not only have an awesome onboarding experience & seamless implementation but also making sure they are getting significant ROI on their investment in us.
Customers are not looking fora lot but rather someone on their side to guide, assist ,navigate & help in their growth journey.
Organizations who care about Customers sales growth, their NPS score, their problems , their needs, their vision WILL DEFINITELY increase their renewal rate to an almost perfect score !!!
GOAL of this phase is to have :
Customers getting significant ROI from their investment
Customers increasing their Sales growth using our products
Customers increasing their NPS score using our products
Customers knocking at our door to encourage us to innovate more through AI / ML / Chatbots / Experience / Digitization / Automation etc etc
In nutshell, Companies who show the same rigor , dedication, innovation , customer first mindset in both pre & post purchase buyer’s journey will see their revenue, pipeline, NPS score, stock price gain exponentially !!!!
Let’s be a customer champion to make a difference in this community…
More in next post !!!
