This week's Newsletter:
Upcoming Event - Nov 8: NPS Debate hosted by TheySaid
Upcoming Speach - Nov 17: The Future of Customer Success
Quote of the Week: Conventional methods...
My 5-Minute Method for Driving Customer Results
Customer results are everything!
👉 Customers with measured results stay 6 TIMES LONGER. 👈
But there are obstacles...
🛑 Most customers don't know how to define success with your product.
🛑 And if they don't know what success looks like, they definitely don't know how to measure it correctly.
This is why many customers are hesitant to engage on the topic of results in the first place.
1️⃣ The first realization is that you can't just ASK customers what success looks like; you have to show them how to win. This radically simplifies the process so it can be done for EVERY CUSTOMER!
Remember that you (your company) are the experts on how your product produces business value, precisely what kinds of results customers should expect, and the best way to measure them. So start by defining what they are.
2️⃣ The second part of the solution is to make engaging with customers about results simple, easy, and fast.
This is why I created the CUSTOMER RESULTS STRATEGY CANVAS (CRS), which answers the FOUR key questions:
⓵ KEY RESULT: What is the customer's key business result?
This is the business value your product produces. For example:
• Increase email sales
• Reduce employee churn
Business results are NOT tasks like installing the solution or getting people to use it. Business results are the compelling reasons to buy and renew your solution.
⓶ RESULT METRIC: What is the best way to measure it?
This is how the customer will know when they win. Use the best metric that properly measures the key result. In many cases, it is important also to have:
• a BASELINE of the metric before your product, and
• a TARGET of what "good results" would look like.
⓷ TOTAL SOLUTION: What solution is needed to achieve the result?
This is where you identify the elements of your product that the customer will need to have/use to get good results. The purpose of this is to ensure the customer has the tools they need to win.
⓸ RESULT BEHAVIORS: What must the customer do to achieve the result?
This is the MOST IMPORTANT element because customers fail when they don't change how they work to take advantage of how your product produces results.
If they don't change, they won't get results, and they will churn. Everything in the CRS Canvas leads to this and enables you to commit customers to the key changes they must make to win.
► HOW TO INTRODUCE THE CRS CANVAS TO CUSTOMERS:
✅ Start by filling out the canvas with the customer's key result(s). Don't show up with an empty canvas. If you don't know, put the top 2-3 most likely.
✅ Send it to your customer and tell them you'd like to review it to ensure you have it right.
✅ Walk them through it and make appropriate changes to get alignment.
✅ Continue to review and update for the life of the customer.
It usually takes just a few minutes and sets you and the customer up for long-term success!
Upcoming Event: Debate - Is NPS a Vanity Metric?
Hosted by TheySaid on LinkedIn - Register Here
NPS IS DYING. Join us next week, and I'll show you why - and I'm bringing the receipts!
NPS has risen to the king of customer feedback methods and spawned an entire industry of NPS survey providers. It's been a good ride for the NPS peddlers, who've found virtually limitless uses for net promoter surveys.
But it's all coming to an end. More and more companies are ending their NPS programs and reclaiming the money for more effective customer efforts.
And there's a very good reason: 👉 NPS DOESN'T WORK! 👈
The data are in, and they utterly demolish the false premises - and false promises - of NPS.
Join us next week on Wednesday November 8th for a Linkedin Live Debate: "Is NPS a Vanity Metric?!"
Both sides of the debate will be expertly represented. But only one is correct.
See you there!
Upcoming Speach: The Future of Customer Success - Silicon Slopes
November 17th, 2023 @ 11:30am MT
Hosted by Silicon Slopes - Utah Customer Success Meetup
Register here: https://lnkd.in/d9WX4e56
QUOTE OF THE WEEK:
Conventional methods produce conventional results.