shane mcgonigle, mycomplianceoffice - presentation at cco europe 2017

The Customer Doesn’t Care!

2017-06-07

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MCO is a software solution

• What is MCO?• SaaS with recurring revenue business model• Sticky solution with high retention rates• Financial service and now corporate markets• Started in USA capital markets• Expanding worldwide

Commercial results 2016

• Increased marketing investment • People, Process & Performance through technology

• Results are commercially sensitive but we can confirm substantial increases in:• New sales• Average contract value• Marketing generated leads• Opportunities created• Website visitors• Returning website visitors

• Significant reduction in the cost to acquire a customer

• Maintained our rate of retention

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Customer centricity is in my DNA

• 20 years in advertising agencies

• People• Client service focus• Align diverse resources to deliver customer success in a qualitative field

• Performance• Customer satisfaction = commercial success• Personal performance = career• Creativity is more than the message

• Process• Insight drives the activity• Action drives results

“Don’t tell me how good you make it; tell me how good it makes me

when I use it”

My role

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Position the business on terms that are of value to the customer relative to the competitive whilst being true to your vision, mission and values

Three key discoveries

Us

CustomerCompetition

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Sales-centric view

Customer

UsCompetition

Buyer-centric view

Us

CustomerCompetition

Lifecycle is customer-centric from the start

Customer issues

Customer selects

resolution

Implementation of the resolution

Growth as a result of the resolution

New challenges emerge

What do we do?

1. Know who you are and be consistent in your personality

2. See customers as people

3. Talk to customers – loses and leavers

4. Put yourself in context

5. Act upon your insights

6. Buyer journeys are fruitful

7. Technology improves performance but…

8. Customer care management

9. Measurement

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1. Know who you are

• Be clear about your vision, mission and values

• Unite your management, your staff and your thinking

• Speak with a consistent voice

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“We believe that great governance is at the heart of great business, helping to protect and promote your reputation”

Brian Fahey, CEO, MCO

2. See customers as people – understand their hopes and dreams, worries and fears aka personas

3. Talk to customers but beware – feedback is not always straight forward

Source: Attributed to Leo Burnett

4. Put yourself in the context of your customers everyday life – work and personal

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5. Act upon your insights

Disempowered?

We will empower you.

Under-appreciated?

We appreciate you.

Unloved?

We like you, we get who you are and we share you sense of humour.

6. Buyer journeys are fruitful

• Plot the basic journey and be creative• Talk to customers, marketing, sales, support etc• Speak to new customers• Speak to those who you don’t win

• Identify the triggers that kick-start the journey• Critical to your content management strategy

• Focus on identifying and responding to their issues

• Confirm the information sources consulted by your prospects

• Critical to your marketing investment plan• Rank these sources

• Discover how their priorities change in the lifecycle• Stage 1 to X, long list to short list, last two etc

7. Technology improves performance

… and efficiency but it is not the answer!

Continuous proactive care

8. Customer care management

Implementation

Support

OBJECTIVES: Retention, Referral and Revenue Growth

9. Measurement

• Anonymous universe

• Visitor

• Returning visitor

• Cold lead

• Warm lead

• Opportunity

• Nurture

• Sale

• Growth

What have we learned?

People

• Keep the CEO and management team informed and on-side

Performance

• Measure and continuously associate activity to revenue and ROI

• Discriminate between clients based on value and strategic direction of your business

• Admit your mistakes

Process

• Evolve and deepen your understanding of the buyer journey

• Adapt and integrate your resources to meet buyer needs

• Recognise that the contract signature is just the beginning

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Finally, always ask why would a prospect or customer care about this?

Make sure that they will care before you undertake any activity to ensure you

remain customer-centric.