Pulse London 2019 – Day 2 Notes

Session 1: Human First Products

With choice, comes power

Customers are on the driver’s seat, not vendors

New Cycle

Adopt -> Retain -> Expand ->Advocate

Customer wants deliverable outcomes to see business value

Session 2: How can you streamline Net Retention? Let Us Count the ways

• One team on retention, one team cross/upsell
• Indicators to help identify upsell cross sell
  • Customer landscape
  • What’s the history
  • What are they investing
  • What are they counting on to grow
• Implications for your company
  • What are customer strategic initiatives
  • What initiatives do we help support today
  • What strategic initiatives could we further support?
• Start with the problem
• Acct Planning – keep it simple, 
• Leverage Marketing – marketing automation for scale across customer base as early as possible
• Align Models where any overlay exists to drive performance

Session 3 – Smarter Customer Onboarding and Resource Automation

• Make every customer a success story
• Customer onboarding benchmark report taskfeed

Session 4 – Give A Customer A Fish, They Eat For A Day. Teach A Customer To Fish…

• Make training relevant and relatable
• Get something set up for them already in/before the training
• User Success is the mission
• Continue to educate and up-skill – ongoing sharing of knowledge

1. Teach a customer to fish

• Increased adoption
• Retention
• Customer satisfaction
• Advocacy
  • Customers think they already know how to fish
• Monthly webinars
• Through support
• Regular throughout leadership season

2. Customers are catching different sized fish

• Tiered training 
  • Self education
  • Shared learning
  • Dedicated training
  • Tailored Options
• Clearly sign post the journey
• Speak to them in their language
• Be nimble with the video creation, create and upload rather than perfection
• Understand the customer and challenges they have, don;t talk about roi to a charity

3. The fish we are catching keep getting better

• Plan, plan, plan again
• Training must be a part of product release cycle
• Customer training is not an afterthought
• Dedicated internal training
• Don’t be complacent

Fish the whole lake

Right tools to fish

Prepared for bigger fish

Session 5 – How Currencycloud Rebuilt Their Health Score To Be More Predictive

• What is good an bad
• Which clients are likely churn
• Who we can upsell
• What impact clients most
• Making cleaner waters through data

• Top down vs bottom up OR lean vs bulk
• Top down and bulky approach
• Churn, effort, potential, relationship, product engagement, revenue, touch
• Score groupings
  • Friction – how much difficult
  • CX – how engaged and happy are they
  • Adoption – what are they doing, how much
  • Payments 0 flow of transaction
  • Customer onboarding 0 did they implement ok

Next steps;

• Health Score 2.0, 3.0
• Bespoke, segmenting based on customer bowling alleys, lifecycle, maturity
• Insights: which clients revenue most and for the longest, onboard quickest, least needy, most vocal
• Follow up – refine how re react

Session 6 – How To Spot And Drive Upsell And Cross-sell At Renewal Time

• CSMs not negotiations expert, sales were not incentivized to sell something onboardable
• Upsell pipeline go up
• Teams collaborated more
• You can’t upsell before customer is ready
• Segment by life-stage
  • Onboard & Retain
    • Same for CSM
  • Grow
  • Advocacy
• How do you know which life-stage
• What is your aim in each life-stage
• How do you do that
• How do you know you’re doing well
• What about if CSMs don’t own renewal score
• Task list for each segment
• CS Process Flow
  • Look at the slide
• Is marketing setting you for upsell?
• Do you really need to focus on low value clients for upsell
• Have your csm/support received sales training?
• Value realization for customer

Outside the box upsell ideas;

• What would you upsell if you want to create one
• Change the licensing model
• Why can we not upsell?

How do you get the full value from upsell;

• Make sure the customer is happy
• Focus on how the customer wins
• Make it relevant
• Let users make the move
• Bundle and discount
• Show restraint

Revenue + margin + reputation = success

High margin, recurring revenue upsells are the best models

Should be success upsell not just for upsell

• Introduce the upsell before renewal – at least 3/6 months

• Don’t do it just for its sake, never forget the value
• Don’t link breaking changes to renewals
• Don’t ignore your competitors – they will be sniffing around
• Don’t make promises you can’t keep
• Don’t treat upsell as a one-off