Any ideas on customer success portfolio management and how to drive effective monetization or new strategies post COVID-19?
It's hard given the current climate but we are looking at creative ways to leverage points/credits for services creation. Primarily because it allows us to rapidly bring ideas to market and test their feasibility.
@Jim Bignell I recently hosted a TSIA Webinar on Credits and Points programs. You may access it here: 8 Steps for Service Portfolio Managers to Build a Credit and Points Program
Let me know if you'd like to further discuss.
@Carlos Alves Yes - Our SRG research practice focuses on who should be developing the service offers, what capabilities to include in those service offers you monetize and how to bring a harmonized service portfolio to market. We also have data on how many customers to expect on each level of service and how it is priced - maybe we should schedule some time so I can provide you additional information.
TSIA Blog: 3 Plays to Creating a Premium Service Offering
Creating points/credits program seems a promising path. thanks.
There are some great insights from the monetizing customer success industry quick poll regarding COVID-19 impact and Phil Nanus, VP of Customer Success Research makes an argument for monetization in his recent blog post, How Customer Success Can Make a Lasting Impact During The COVID-19 Crisis based on correlation analysis:
Companies that monetize customer success have seen the following benefits:
A first step is to create a simple portfolio for Customer Success that focuses on deliverables and what they value they will bring to your customers. If customers can put a $ on the service you will provide them as part of your CS services then they will be more amenable to pay for it.
Thanks, @David Perrault . I had a great session at TSW Live 2020 just now, and good insights from Phil Nanus, about charging the services make the expectations between customers and provider clearer.
While points based allocation of customer success offerings seems like a flexible way to apply services for different size customers there are some issues to watch out for as you scale. Three in particular come to mind based on the experience we had at Salesforce.
Ultimately, we eliminated points within the customer success offerings at Salesforce in favor of simplicity and found other ways to allocate and bundle monetized customer success offerings. Customer and Success Leadership feedback was positive when we moved away from points.
@Shane Hughes very interesting point, thanks for bringing that feedback.
Would you be able to bring any insights or elaborate on the other ways you found to allocate and bundle the monetized customer success offerings?
Based on @Shane Hughes comments, we are now trying to establish some layers of services based on customer segmentation. It should be running by end of 2020.