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Are you a One Night Stand or a Long-Term Relationship Company?
Lauren CostellaDirector, Client Success, US/APAC RegionsTwitter: @lcostella; @searchmetricsLinkedIn: https://www.linkedin.com/in/laurencostella
#IS2015@lcostella
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© Searchmetrics. All rights reserved. Do not distribute without permission.
Are you a One Night Stand or a Long-Term Relationship Company?
Lauren CostellaDirector, Client Success, US/APAC RegionsTwitter: @lcostella; @searchmetricsLinkedIn: https://www.linkedin.com/in/laurencostella
#IS2015@lcostella
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The Date
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Our Brand
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Our Pipeline
@lcostella @Searchmetrics
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The Sale
But now what?
@lcostella @Searchmetrics
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The Engagement
@lcostella @Searchmetrics
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If you aren’t investing here, you’re missing OUT on BIG $$
http://get2growth.com/wp-content/uploads/2013/04/Marketing-Hourglass.png
#IS2015@lcostella @Searchmetrics
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The Why
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Industry Stats
5X#IS2015
The probability of selling to
a new customer is 5-20%, whereas selling to
an existing one is 60-70%
http://www.invesp.com/blog/customer-acquisition-retention/
@lcostella @Searchmetrics
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There’s more
LTV of a customer is typically
10X that of the initial sale**Gainsight- 10 Laws of Customer Success
@lcostella @Searchmetrics #IS2015
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And LAST but not LEAST…
Customers have CHOICES: they can and DO walk away
Why?
• Globalization – the barrier to entry is low
• New entrants have low friction models- try out or have shorter subscriptions
• They can TRY new, BUY new, and say BYE BYE to you.
@lcostella @Searchmetrics #IS2015
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The Example
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A few metrics for Client Success…
1 Decrease time to reach upsell/upgrade
2 Increase conversions on upgrade leads
3 Increase % of engagement using platform
4 Decrease time to onboarding
5 Increased client competency with material
@lcostella @Searchmetrics #IS2015
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Getting Creative
#IS2015@lcostella @Searchmetrics
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The Result
#IS2015@lcostella @Searchmetrics
120 people attended from about 50 different companies
Generated 10-12 qualified upsell leads
From those leads, we converted 5 of those leads
1 client to over $360,000/yearOther upgrades per year in the ranges of $6K to $24K
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Other Strategies
Retargeting- used not just for lost conversions but for UPSELL – Product Releases
#IS2015
Conversions- see rates around 3-5% higher than simply site targeting
Webinars
Not just for new prospects but targeted at current clients who have the potential
to buy more
@lcostella @Searchmetrics
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Other Strategies
#IS2015
What are people asking about?
These are great topics for
conversation/engagement in forums or
social
@lcostella @Searchmetrics
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The Take-Away
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• Just like dating, clients have a choice of whether to work with you or go
with a competitor
• There are always other choices, and competitors will always try to get your clients to “swipe right” for them
• Customer Success exists to help build that trusted relationship, be the conduit between clients and product and the company
BUT
Marketing, especially digital, has a HUGE role to play in client
success enablement@lcostella @Searchmetrics #IS2015
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Identify your after
sales process
Invest money in staff
and resources that can support Client Success: reduction in churn and growth
Track your efforts and
get attribution for the BIG $$that retention and growth bring
Do
@lcostella @Searchmetrics
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Don’t
@lcostella @Searchmetrics #IS2015
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Questions?
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Thank you