Stop Confusing Free Trials and Onboarding (It’s Costing You Customers)
Sixteen Ventures
by Lincoln Murphy
1M ago
Prospective customers use Free Trials as an opportunity to see if your product is right for them before they buy. Customer Onboarding is the process a new customer goes through to get up and running with your product after they buy. If you confuse Free Trials and Customer Onboarding, you’ll try to engage prospects as if they’re already customers, resulting in poor engagement and lower conversion from free to paid. Let’s dig in. Understanding Customer Engagement In our Customer Engagement service we work with companies to improve, well, customer engagement. Contact us to learn more. Among other ..read more
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The Importance of Consistency in Customer Success Management
Sixteen Ventures
by Lincoln Murphy
6M ago
Customer Success leaders understand the value of predictable results for their organization, so they evangelize, prioritize, and even incentivize Consistency with their team. They coach their CSMs and Managers to be consistent. They understand – and help those they manage understand – what has to happen across the quarter for each CSM and Team to reach their goals, and they map out progress milestones to ensure not only success at the end, but success along the way. And they intervene when progress milestones are at risk of being missed (not after it’s already been missed). Stop Glorifying Hus ..read more
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The Real Reason Your Company Invests in Customer Success
Sixteen Ventures
by Lincoln Murphy
6M ago
Customer Success is there to make your customers happy, right? No. It’s actually not even to make customers successful. Let me explain. The people in charge of your company – the Executives, Board, and Investors – want to improve a metric called NRR (Net Revenue Retention or NDR, Net Dollar Retention, if you prefer) for one very simple reason: it plays a direct role in the value of the company. What is NRR? NRR, if you’re not familiar, is a simple metric to understand, but actually quite complex and convoluted to implement in practice. To keep it simple, you take the amount of revenue from yo ..read more
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Customers Hate These 3 Things (and How to Avoid Them)
Sixteen Ventures
by Lincoln Murphy
10M ago
Disclaimer: The following assumes your customers are humans. Don’t get me wrong, customers dislike A LOT of things. But there are three things that elicit such a deep, visceral response that the only applicable word is hate. Strong word, but strong emotions. In my many years of helping companies grow through Customer Success, the thing I’ve always tried to do is understand why humans behave the way they do. What psychology is at play in various situations? What is going on in their minds at various points in their life cycle with us? How can I use psychology to get the customer to do what I ne ..read more
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The 5 Secrets of World-class Customer Success Managers
Sixteen Ventures - SaaS Marketing Strategies
by Lincoln Murphy
1y ago
Having worked with hundreds of companies of different sizes, funding stages, and Customer Success maturity, around the world, I’ve boiled down what I believe are the five “secrets” of World-class CSMs. This is specifically about CSMs that are thriving, even if their environment is less-than-perfect.  It’s always best to have strong Customer Success leadership, buy-in from Executives, great processes, purpose-built CSM software, etc. But World-class CSMs can be found in environments that don’t have any of those things. And the best part; These “secrets” can be learned and applied. It turns ..read more
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Customer Success: Defined (Updated for 2022)
Sixteen Ventures - SaaS Marketing Strategies
by Lincoln Murphy
1y ago
Customer Success is one of the most valuable concepts in business and is constantly evolving. The more contact the ideas and concepts underlying Customer Success have with customers, the more learning occurs and the more those things evolve. This real(enough)-time feedback loop of process development –> customer contact –> learn –> iterate is powerful at the tactical level and bubbles up to cause a constant reimagining of what Customer Success is at the conceptual level. Below is a list of the latest definitions of many of the core Customer Success concepts and terms, starting with hi ..read more
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Customer Onboarding: How to Design and Implement an Effective Onboarding Process
Sixteen Ventures - SaaS Marketing Strategies
by Lincoln Murphy
1y ago
  The phase of the customer lifecycle that gets the most attention is Customer Onboarding, yet ironically (or tragically), most people fail to understand what onboarding really is, and few do it well.   And even though Onboarding is something people talk about all the time, experts abound with advice and blueprints and templates, and thought leaders drone on about “first impressions,” the fundamentals of effective customer Onboarding seem to be totally missing.   So I put together a list of things that will help you design an effective Customer Onboarding process that truly does ..read more
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Eliminate Churn Forever in 5 Simple Steps
Sixteen Ventures
by Lincoln Murphy
2y ago
Churn… ya boring. Yawn. Time to move on. I’m so over talking about churn and if you really understand what Customer Success is all about, you should be, too. Churn is so easy to get rid of… you just have to do five simple things. If churn is a problem for you, this post will change that (if you’ll let it) and then you can move onto bigger and better things. Once churn is a non-issue, you can focus on growth. Customer Success-driven Growth Customer Success is a growth driver. Revenue growth from your existing customers. Growth in the value of your company. Real Customer Success is the future of ..read more
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Customer Success: The Lost Art of Churn Reason Analysis
Sixteen Ventures
by Lincoln Murphy
2y ago
It’s critical to understand why your customers churn, but if you’re relying solely on the reason the customer gives you for that churn, you’re definitely missing the actual reason. ‘Churn Reason’ analysis, like most things in Customer Success, is more complex and requires more deliberate effort to get right than it might seem on the surface. It’s easy to just ask a customer why they’re cancelling or not renewing and to leave it at that. It’s easy, but it’s not going to get you the answer you need to keep future churn from happening. This guide will help you analyze the “churn reasons” in a way ..read more
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Customer Success: How to Quantify the Impact of Bad-fit Customers
Sixteen Ventures
by Lincoln Murphy
2y ago
What’s the cost of working with Bad-fit Customers? Everything rolls-up to dollars… time and other resources – and even the negative sentiment in the market caused by churning-and-burning customers – all have an associated monetary value. For those who wrongly consider Customer Success an altruistic endeavor, rather than a profit-seeking business strategy, you will want to try to make Bad-fit Customers successful at any cost. You’ll want to, but you can’t. That’s why we call them Bad-fit Customers. I put this guide together for the rational person who knows intuitively that investing resources ..read more
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