salesconf - uncovering a treasure trove of sales opportunities using customer data

UNCOVER A TREASURE TROVE OF SALES OPPORTUNITIES USING CUSTOMER DATA

Lincoln Murphy@lincolnmurphy

Lincoln MurphyLincoln Murphy is Gainsight’s Customer Success Evangelist and is responsible for driving Gainsight's thought-leadership in the areas of Customer Success, retention, churn mitigation, and expansion revenue. Lincoln’s passion is creating efficient engines of growth for SaaS (Software-as-a-Service) and Subscription Economy companies.

Prior to joining Gainsight, Lincoln spent five years with Sixteen Ventures where he worked with 300+ SaaS and enterprise software vendors migrating to SaaS - from SAP to Hubspot, and from Microsoft to Zendesk – to accelerate growth through Customer Success.

@lincolnmurphy

http://www.gainsight.com/

Agenda1. Ideal Customer Profile

2. Net New Opportunities

3. Upsell Opportunities

4. Q&A

http://sixteenventures.com/salesconf


Ideal Customer ProfileReadyWillingAbleSuccessfulProfitableExpansion PotentialAdvocacy Potential


Isn’t Ideal CustomerSituational?

NEW OPPORTUNITIES

Methodology1. Determine the Situation you’re Solving For

2. Get access to your Customer Data

3. Find the Customers that Match your Situational Criteria

4. Append Data for those customers (Demo, Tech, etc.)

5. Look for common / shared characteristics

6. Use those patterns to find new customers that match that profile

7. Profit!

FIND YOUR MOST SUCCESSFUL CUSTOMERS… AND GO GET MORE JUST LIKE THEM

Surface Your Most Successful CustomersYou could pull together:

average Net Promoter Score (NPS) over time Sales cycle length Time to first value On-boarding/implementation milestones and timing Customer Support data Get your Account Managers to apply a “health” score – based

on their gut – to each of the customers they manage

Gainsight makes this easy don’t be afraid to pitch your product!

Surface Your Most Successful Customers

Understanding what goes into making your customers successful will surface ideas on what to look for in prospective customers.

What acquisition channel did they come in through?

FIND YOUR MOST PROFITABLE CUSTOMERS… AND GO GET MORE JUST LIKE THEM

Find Your Most Profitable CustomersThis cost is generally referred to as Customer

Acquisition Cost (CAC), and should be “fully loaded” including all the costs to: Advertise to Sell to Support during a Free Trial or Proof of Concept Convert to paying customer

Immediate-post-sale costs

Ongoing cost to support regular use

Find Your Most Profitable CustomersLook for customers:

That had a short sales cycle Have a high LTV Have long-term contracts Frequently Increase usage/buy add-ons/etc. Have a low cost to support Or all of the above?

What are the patterns? What are the characteristics of those customers?

IDENTIFY CUSTOMERS THAT EXPANDED THEIR USE OF YOUR PRODUCT… AND GO GET MORE JUST LIKE THEM

Identify Customers that Expanded Use

Intra-Company Virality

“Should we go after Enterprise or SME customers?

Get a list of companies that have expanded their use over their lifetime with your company.

What are the patterns and common characteristics? Who did you initially sell to? What department/persona?

Identify Customers that Expanded Use

When it comes to expansion potential, that potential is only realized when the customers have achieved success... when their customer health score is high.

No Customer Success… No Expansion Revenue. Period.

FIND YOUR CUSTOMERS THAT ARE YOUR BIGGEST ADVOCATES… AND GO GET MORE JUST LIKE THEM

Create an Army of AdvocatesInter-Company Virality

Chasing logos is fine... If they bring you more logos!

And the only way Advocacy happens is if customers are finding success with your product. No Customer Success... no Advocates.

While you may not WIN the deal because of customer advocacy, but you may be IN the deal because of it.

Create an Army of AdvocatesLook for customers that have:

Referred new customers (in-product, WOM, etc.) Have given testimonials Have talked to prospects on your behalf Have spoken at your events Participated in case studies with you

If not for you, have they done it for others?

UPSELL OPPORTUNITIES

Upsell Opportunities1. Be Clear On What Success Means

2. Set Goals With Your Customers

3. Benchmark Where Your Customers Start

4. Identify Success Milestones For Upsell

5. Mention Upsells Early In Their Lifecycle

Questions?

Additional Resources at:http://sixteenventures.com/salesconf

Lincoln Murphy@lincolnmurphy
