629 Posts Found

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 ]

Content: Quotation | Author: Myk Pono | Source: Medium | Subjects: Customer Related, Marketing / Sales

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.

Content: Quotation | Author: Madhavan Ramanujam | Source: First Round Review | Subjects: Customer Related, Innovation, Marketing / Sales

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 ]

Content: Quotation | Author: Madhavan Ramanujam | Source: First Round Review | Subjects: Customer Related, Innovation, Marketing / Sales, Pricing

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 ]

Content: Quotation | Author: Lincoln Murphy | Subject: Customer Related

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.

Content: Quotation | Author: Lincoln Murphy | Subject: Customer Related

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 ]

Content: Quotation | Author: Lincoln Murphy | Subject: Customer Related

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.

Content: Quotation | Author: Lincoln Murphy | Subject: Customer Related

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.

Content: Quotation | Author: Lincoln Murphy | Subject: Customer Related

Customers – the people who pay to use your product – should be central to everything you do. It sounds simple, but when you have free users in addition to paying customers (like us), things get a bit trickier.

Content: Article | Author: Elias Torres | Source: Drift | Subject: Customer Related

We found that individuals with a high sense of social connectedness felt their individual actions would generate a greater impact on a larger scale and, as a result, tended to be the most socially conscious consumers. Overall, the social values self-reported by the respondents were a less reliable predictor of behavior than the feeling that they, as individuals, could make a difference. This result is … [ Read more ]

Content: Quotation | Author: Natalia Karelaia | Source: INSEAD Knowledge | Subjects: Customer Related, Marketing / Sales, Social Responsibility (ESG)

What strikes me as really interesting is that in advanced economic systems, we’re seeing that more and more products and services — at least, personal products and services — are being chosen on the basis of their perceived authenticity. Among consumers, the appeal of authenticity is stronger than almost any other attribute. I don’t know whether it means that quality has become so good that … [ Read more ]

Content: Quotation | Author: Glenn R. Carroll | Source: Stanford University | Subjects: Customer Related, Marketing / Sales, Quality

Brad Feld discusses a very simple operant conditioning loop framework for increasing conversion which uses a binary measurement for each new user – they are either healthy or unhealthy.

Editor’s Note: This is a short read that more or less echoes the ideas found in a detailed article by Myk Pono.

Content: Article | Author: Brad Feld | Source: Feld Thoughts | Subjects: Customer Related, Marketing / Sales

David Cancel of Drift explains how to categorize the feedback that you’re getting, then how to take action and measure the results.

Content: Article | Author: David Cancel | Source: Drift | Subject: Customer Related

Questions not only mean the customer is engaging, but also transferring feedback that is process-oriented or value-oriented. They’re working through how they’re going to make a decision about your product with you. If they’re asking questions, something’s landed. That’s a good sign. If they ask about another customer, your example may not have been sufficiently relevant — that’s a sign to change tacks and dig … [ Read more ]

Content: Quotation | Author: Whitney Sales | Source: First Round Review | Subjects: Customer Related, Marketing / Sales

While every product team I’ve worked with leverages customer feedback to inform product decisions in some way, most fall short of designing their customer feedback loop to maximize the benefits to the product team of gathering, recording, and synthesizing feedback. They also often treat customer feedback as a point-in-time activity as opposed to a far more helpful continuous process. I wanted to share some of … [ Read more ]

Content: Article | Author: Sachin Rekhi | Source: Medium | Subjects: Customer Related, Marketing / Sales

Bottom Line: When it comes to consumer goods, infrequent purchasers, not faithful customers, seem to drive market-share growth.

Content: Article | Author: Matt Palmquist | Source: strategy+business | Subjects: Customer Related, Marketing / Sales

Breakthroughs may be worth pursuing, but most companies benefit more from incremental innovation efforts that add new forms of consumer value to their present products and services. The trick is to determine what elements to add in order to boost the perceived value of your offering. You don’t want to expend resources adding features that consumers don’t care about. While what constitutes “value” can be … [ Read more ]

Content: Article | Author: Eric Almquist | Source: Harvard Business Review | Subjects: Customer Related, Innovation, Marketing / Sales

To create distinctive customer experiences, large companies need to push the boundaries and adopt next-generation digital thinking and practices in seven key areas.

Content: Article | Authors: Hyo Yeon, Xavier Lhuer, ’Tunde Olanrewaju | Source: McKinsey Quarterly | Subject: Customer Related

One of the first rules in making your business successful is to know your target audience or, to be more specific, who your customers are. Therefore, it is imperative that businesses should look closer at their customers: who they are, what they want, what motivates them, what drives their decisions… basically, businesses should have a clear idea what makes their customers tick.

When we speak of … [ Read more ]

Content: Article | Author: Anastasia Belyh | Source: Cleverism | Subjects: Customer Related, Marketing / Sales

[New] dynamics are undermining the traditional sales approach of pushing products to customers along a linear funnel comprising lead generation, lead qualification, proposal, negotiation, and close. In that world, funnel metrics kept track of what the sales force was up to and tallied daily win rates. The problem is that many of today’s customers no longer buy this way. Nor does the tracking approach shed … [ Read more ]

Content: Quotation | Authors: Candace Lun Plotkin, Jennifer Stanley, Oskar Lingqvist | Source: McKinsey Quarterly | Subjects: Customer Related, Marketing / Sales