I truly believe that culture and values are what contributes the most to building a winning team. If you are able to determine your team's purpose (WHY) and find people who share your same beliefs and purpose, it becomes easier to align everyone on the WHAT you do and HOW you do it. The purpose becomes the reason for being, thus driving decision making, processes, KPIs, etc.
It is true that you need people with the right skillset and capabilities, but if they are not motivated by a purpose and only focusing on what they need to do and how to do it, the team will not differentiate itself from a team working with a clear purpose.
If you want to know more about this topic, I suggest the book "Start with Why" by Simon Sinek. Our Support team has defined our why statement and ensuring that the people we hire are aligned with our purpose on top of having the required skillset. This has helped in aligning objectives.
I hope this helps.
Love the results chart @Doug Caviness and agree generally with the sentiments expressed above @Steven Forth .
Two years ago, i did a webinar on Product Led Growth Strategy: The Key to Unlocking XaaS Profitability which is still available on de-mand for those interested in this topic.
Once we accept that PLG is a viable and attractive strategy (for many of the reasons above and more), it's important to point out that actually developing these models, requires the product teams to understand and operationalize around of a number of foundational concepts that the product can very prescriptively & surgically impact -
· The recurring revenue (ARR) formula
· The sales and marketing cost drivers
· The LAER customer engagement model and related cost drivers,
· The adoption framework for driving sticky adoption patterns
· Platform economic engines (many of the above listed companies are expanding their value through platforms)
Many product teams are challenged in these areas, particularly those on a journey to XaaS business models.
If you are reading this and executing a Product Led Growth or Product Assisted Growth strategy, I encourage you to share your experience and learnings with the TSIA community at the next TSIA Interact conference at the link - CALL FOR SPEAKERS
Totango helps you to track all of this and comes with pre-built modules to help you use best practices for each stage of the customer journey. You can use these to help you get started and scale your efforts or tailor one based on the outcomes you are seeking.
You can try it out for free at totango.com/signup
Hello @Martina Stiegler . We ran a new evaluation and we have a criteria sheet that we may share, if you like.
Martina - a lot of the customer success teams we work with use a range of tools to automate their work. We see Gainsight, Totango, StrikeDeck, and ChurnZero the most often amongst purpose-built tools. That said, there are many other of our clients that are leveraging existing tools (ServiceCloud, Tableau, survey platforms, etc.) given the customization and integrations required. Happy to discuss further - just let me know.
@Alyssa Ortiz this is a question at an interesting point of time. We just did some reviews around the trends we are seeing, and there is a big dependency on my answer from a Geo point of view. In the US we always saw lots of ILO, and of course there is still no normal classroom, and the US accepts this in our case. In AP, where we had very little ILO we now see a significant increase, it seems to be kind of a shift from classroom to virtual classroom that never happened before. Europe was always somehow accepting ILO, but they are now also still increasing. But the biggest shift is AP. We also see around the world an increase of non-classroom eLearning, but the majority of former classroom is ILO. Interesting trends in Europe (and all countries where there is a possibility for F2F): People seem to be interested to take classes in a classroom wherever possible. Independent on all of this we're seeing a quite positive outlook for Q4, meaning globally (but heavily dependent on the Geo) we see similar amounts of students taking skills as last year.
I think one has to start with alignment. Are the goals of the individuals, the team and the organization aligned. It takes a lot of work to get to this three way alignment, work we often skip over, and once achieved it needs to be maintained.
The other part of this turns on skills. This ia three part question:
A couple of thoughts.
The tools for this are increasingly available, from Google, Amazon, Microsoft, IBM, Open Text and many other more specialized vendors. BMC also has some good tools for orchestrating the data flows.
I think there are two blockers: (i) poorly articulated processes that try to jump to the end point and (ii) a failure to understand value to the customer and its role in upsell, cross sell and renewal.
On the process side, start with something simple. We have had a lot of success with something we call Predictive Engagement. Take all of your current engagement data (you are probably collecting this real time) and run it through one of the Deep Learning engines (I don't think it matters much which one) and see if you can use current engagement data to predict future engagement. This is a nice simple way to get started and it let's you begin to predict future engagement. Once you can predict it you can start to take steps to improve it.
From predictive engagement you can begin to look for the types of engagement that predict renewals. This is more work, and will likely require some support by a data science team, internal or external.
The real challenge though is to understand and monitor value. This requires a value model that uses data (as far as possible data collected from your own system). The value model is also a good guide to the kinds of data you should be collecting. Once you have a baseline way of monitoring value you can then layer in predictive value, which uses predictive engagement as an input into predicting future value.
That is the goal anyway.
The value model should also be linked (through something like a benefit ladder) back to functionality. It should become possible to predict what additional value could be created by adding additional functionality, data or services.
I think of this as the next generation of configure-price-quote, which can be rethought as value-configure-price-deliver ...
We have done predictive engagement and value models but have not yet tried to connect them. We are small and I doubt that we are collecting enough data to do this yet. But larger companies here could move forward quickly.
@Dave Seaton Great question!
I've worked with four large and midsize B2B SaaS and tech clients in service and support and facilitated workshops to create CJMs several times, so this one's near and dear to my heart! To your questions:
Is your Customer Service and Support team using CJMs to bring customer insight into strategy decisions about processes, channels, and technology for support?
If so, who champions the creation and maintenance of the maps? Does Support own their own maps, or do you partner with Marketing or Commercial?
I hope that helps!
I like the T-model and @Phil Nanus' blog post - lots of great ideas there that I'm aligned with. The guiding principle to put the right resource at the right point in your customer journey that delivers the best experience in the most cost-effective manner is on the money. I did not see "Expansion Potential" as one of the factors in the white paper that I was thinking to include, but Phil added that in his excellent blog post.
There's another tradeoff here - a Customer Success team that has renewal responsibility will have more power and authority within the company, because they'll optimize resources cross the customer lifecycle to protect and expand renewals and over time, be accountable for more revenue than Sales (if Sales = new business, Success = renewals). On the flip side, I believe that comes with potential lost customer trust, if CSMs come across to customers as focused on renewals rather than getting the customer to value.
For those reasons, I am very aligned with the T-model. Give Sales the high value deals, high expansion opportunities, and keep sales "in" on the renewal based on triggering conditions (lost sponsor, etc.). For straightforward, low complexity, lower value renewals, give it to a renewals rep as part of the CS team. I have seen this work well at my clients.