The ROI of Investing in Your Customers - Talkdesk - ContactCenterWorld.com Blog
This blog post is an Opentalk 2016 panel recap.
For more Opentalk content, check out Opentalk Full Coverage.
Moderator: Blaire Fernandez, Director of Customer Success, Talkdesk
Panelists: Nick Mehta, CEO, Gainsight
Tien Tzuo, CEO & Founder, Zuora
Modern customer success
TIEN: In today’s economy, everything you need to do has to eventually lead back to the customer.
NICK: Success used to be seen as a cost center; it seemed better to invest in sales and marketing. That whole premise is wrong.
How can companies invest in their customers?
NICK: There are three types of investments: 1. Money: How much revenue do you invest in customer success? 2. Time: How much time do you set aside for analyzing and creating customer satisfaction? 3. Culture: What things do you do to celebrate your customers?
Celebrating customer success
TIEN: We track tangible customer objectives to create an effortless experience. We get their idea to implementation in hours versus month. We make it faster for them to close their books. We want to celebrate actionable things we’ve done for our customers.
NICK: When you get a new customer, what’s the message you send to them? Pop the champagne, ring the gong, remind them that the journey has just started! Remember that while your company is celebrating, your customers have just started. This isn’t the high point of their customer experience.
How customer success scales
TIEN: Once you get to be a large company, you look at the fundamental economics of customer success.
NICK: As you get bigger, you have to question whether things scale or not. A lot of companies use scaling as an excuse. I think you should do things that can’t scale and do it as long as you can! Companies underestimate what they can do that won’t scale.
TIEN: It feels like every SaaS company has that moment where they look at customer success and churn and it doesn’t look good. It could be a quarter where churn outstrips growth. At that point, you have to throw out the book. You have a core issue. You have to throw yourself at that issue. Don’t allow yourself to get distant from what you do for customers.
Stories of going above and beyond for your customers
TIEN: One of our early customers found that our product didn’t scale as they thought it would. We went all in to help them and they stuck with us. A few years later, we tried to get every single person in our global company to sign a card and participate in a video. Then we invited them to our userconf. This customer was really part of the family.
NICK: We made a cheesy video about our customer using footage from their website. That kind of thing doesn’t cost that much, but it does take time. It’s like when you have kids; the best gifts are the crappy ones that they put a lot of work in.
Meeting customers on their level
TIEN: Our expectations are changing. We expect companies to know a lot about us, adapt to our behavior, adjust to our needs. Customers should have one-on-one unique experiences. It’s possible to create that, but you have to craft the technology to enable it.
NICK: CS starts out with an unsustainable proposition: “We’re going to make everyone happy and we have no metrics for measuring it.” Segmentation solves that problem. Different customers have different needs. They should be treated differently! Almost anything else is a better strategy than using the same approach for everyone.
TIEN: You have to segment; there’s no doubt. But the nirvana is not segmentation. There’s a fine set of things that companies should know about customers every time they talk. The point is to surface 8-10 things are important.
NICK: Segmentation seems like it’s easy to do. It’s a mix of many factors, both those that are externally visible such as demographics and then things like customer behavior and choices. You have to blend those two together to get the right curated experience for customer.
TIEN: Companies should replace the word “customer,” which is one-sided, with “relationship,” which is more bi-directional.
NICK: Language matters a lot. One term that all of us use is “customer acquisition” and that’s so antithetical to this new concept. You’re not acquiring this new customer. They’re not committed to you. You don’t own them. The language we use lulls us into a false sense of security. The customer wants us to earn their business every day.
TIEN: In dealing with competitors, from a customer standpoint, it becomes a customer segmentation exercise. Look at the market map. Which segments of this market play to my strengths where I can go deep? What are the competitor’s segments? Which overlap?
NICK: Averages aren’t useful. Microsegments are useful. Build a report card of which metrics matter. Without that, you are solving for something that’s almost unsolvable.
For more Opentalk content, check out Opentalk Full Coverage.
Opentalk is a forum on the future of customer experience and communication. It brings together forward-thinking business leaders to explore how technology can improve the customer experience by enhancing customer loyalty and happiness.
Publish Date: June 2, 2016 5:00 AM
2020 Buyers Guide Speech Technology
View more from Talkdesk
Recent Blog Posts:
|Talkdesk Successfully Achieves SOC2 Type II Certification||March 7, 2018 5:00 AM|
|How to Reduce Abandonment Rate in Your Contact Center||March 5, 2018 5:00 AM|
|7 Key Challenges That Hinder Agent Performance||March 2, 2018 5:00 AM|
|5 Reasons to Ditch Your On-Prem Call Center in 2018||February 26, 2018 5:00 AM|
|Call for Stories: 101 Customer Stories Contest is Open!||February 21, 2018 5:00 AM|
|A Cheat Sheet for Innovative Contact Center Metrics||February 14, 2018 5:00 AM|
|7 Types of Phone Calls Where You Should Screen Share||February 13, 2018 5:00 AM|
|Don’t Put Contact Center Implementation on Hold||February 8, 2018 5:00 AM|
|Apply Today to Speak at Opentalk 2018||February 6, 2018 5:00 AM|
|Contact Center Agent Performance: No Room for Sacrifices||February 2, 2018 5:00 AM|