Are You Really Listening to What Your Customers Are Saying?

Too many companies squander the treasure that is customer feedback. The solution is systematically measuring the customer’s voice and integrating it into a culture of continuous feedback.

Putting Behavioral Psychology to Work to Improve the Customer Experience

Applying the principles of behavioral psychology can improve the quality of customer interactions and build brand recognition as a customer-centric organization.

From Touchpoints to Journeys: Seeing the World as Customers Do

To maximize customer satisfaction, companies have long emphasized touchpoints. But doing so can divert attention from the more important issue: the customer’s end-to-end journey.

Jeff Berg, Keith Gilson, Greg Phalin

For too many customer-care players, the one-size-fits-all approach does not balance two core dimensions we believe will mark the new era: the value and complexity of transactions and the right levels of human interaction and automation. When customers choose their preferred care channel, for example, they increasingly gauge a transaction’s complexity, decisively preferring self-service options for relatively simply ones. Enterprises must decide on the appropriate … [ Read more ]

What Most Companies Miss About Customer Lifetime Value

For managers and marketers alike, the power to calculate what customers might be worth is alluring. That’s what makes customer lifetime value (CLV) so popular in so many industries. CLV brings both quantitative rigor and long-term perspective to customer acquisition and relationships. For all its impressive strengths, however, CLV suffers from a crippling flaw that blurs its declared focus.

Lincoln Murphy

Customer Success is when your customer achieves their Desired Outcome through their interactions with your company, which means Desired Outcome is foundational to Customer Success. And Desired Outcome has two parts — Required Outcome (RO) and Appropriate Experience (AX). If you focus only on the RO, customers will churn even if they get their RO because the AX wasn’t there. Without AX, you’re not doing Customer Success. … [ Read more ]

The CEO Guide to Customer Experience

Companies that create exceptional customer experiences can set themselves apart from their competitors.

Four Ways to Win Over a Digital Customer

As business and IT executives increasingly explore the use of digital capabilities to empower customers and increase overall engagement, four distinct platform types have emerged. Agile companies that adjust their operating models to include one or more of these tools stand to gain by retaining the loyalty of their existing customer base and attracting prospects looking for more tailored, differentiated service experiences.

Myk Pono

Not including ‘activated user’ and ‘active customer’ stages is one of the most common mistakes companies make when designing a customer lifecycle. Tracking activation rate helps you improve product onboarding and first experience; while tracking DAU [daily active usage] rate helps you track consistency of value delivering to your customers.

Myk Pono

It’s important to remember that content is a key weapon in the company’s arsenal when it comes to attracting, engaging, converting, and retaining customers. Content is used to educate prospects about their challenges, possible solutions, and how your product solves them. It’s also used to show how your solution is different from your competitor’s. Once customers signs up, it’s important to use content to quickly … [ Read more ]

Myk Pono

Not tracking user activation during the initial signup or a free trial is one of the most common mistakes SaaS companies make. They are focused vastly on getting customers into the product that first interaction with the product becomes an afterthought. Tremendous resources are spent to get prospects in and even more resources should be allocated to designing the first experience and getting prospects to … [ Read more ]

Myk Pono

In theory, every visitor is a potential customer (not really). […] A visitor becomes a prospect once they convert on a website. A prospect is a potential customer who has expressed interest in the pains, solutions, products, or materials related to your company. The contacts on a list that your marketing team might buy from a third party are not prospects since they haven’t actively … [ Read more ]

Madhavan Ramanujam

When it comes to innovation, there’s only one right way to segment: by customers’ needs, what they value and their WTP [willingness to pay] for a product or service that delivers that value.

Madhavan Ramanujam

The root of all innovation evil is the failure to put the customer’s willingness to pay [WTP] for a new product at the very core of product design. Most companies postpone pricing decisions until after the product is developed. They embark on a long, costly journey of hoping they’ll make money rather than knowing they will. You can ensure your product not only stays alive, … [ Read more ]

Lincoln Murphy

The easiest way to figure out what success looks like for your customer – before you can break that down into milestones – is to ask them.

  • What is their Desired Outcome?
  • How do they measure success themselves?
  • How are they measured by their boss?
  • What are they trying to achieve with your product?

But to be absolutely clear, you’re getting them to tell you the … [ Read more ]

Lincoln Murphy

Customer Success isn’t about saving customers who are about to churn; it’s about not letting customers get to that point in the first place.

Lincoln Murphy

Customer success is NOT about customer happiness. […] Your most successful customers – those least likely to churn and more likely to buy more over time – are generally your most demanding and they never seem to be happy. That’s going to seem like a problem if you don’t understand how things actually work. But if you understand that happiness isn’t your goal – success … [ Read more ]

Lincoln Murphy

Most CRM tools aren’t actually focused on the “customer relationship,” but on the relationship with the prospect through the sales cycle. As soon as the sale closes, most CRM tools cease to be effective (or at least effectively used). But when the customer becomes the customer is when the hard work – and the real opportunity – begins.

Lincoln Murphy

Customer Success is when your customers achieve their Desired Outcome through their interactions with your company. […] Customer Success Management is the proactive orchestration of the customer’s journey toward their ever-evolving Desired Outcome.