What’s new in Customer Lifecycle Optimization – Friday, February 24th

Hi and welcome to our roundup about what’s new in Customer Lifecycle Optimization. Sorry that it’s been a while (we got really busy for a stretch there). Note also that we’re broadening the scope of this update from Customer Success to Customer Lifecycle Optimization. The reason is that we’re finding that many of our clients need to solve significant aspects of their CLM processes (ie: data and machine-learning pipelines) before building up their Customer Success capabilities.

In these roundups, we scour the web for the best and brightest about optimizing the customer lifecycle. Below, are the top articles from companies, pontificators, and vendors. Enjoy!

– Jeff Nickerson, Roundup Curator at Sparked
**Keep your customers** with Sparked.
More info at: www.sparked.com

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From the companies and pontificators:

– Trakio blog –
5 Steps To Becoming A Data Driven Organization
Liam Gooding shares a condensed version of the questions that organizations can ask themselves to help discern if they are actually “Data Driven”. How does your company answer these data strategy questions? Love it.

10 Ways To Increase Your Customer Lifetime Value With Data
We also liked this second post by Liam, where he shares his belief that if your Customer Acquisition Cost is less than your CLV – you’ll eventually generate a profit and grow. One method to unlock new revenue, which in turn can fund rapid growth – is to maximize your LTV and ensure you’ve corrected things such as your pricing model and marketing strategies so that you can hit the gas pedal when it’s time to scale. Read it.

– SixteenVentures –
The 8 Elements of Customer Success Management
We found yet another awesome article by Lincoln Murphy. In this piece he explains that to ensure that your customers achieve their Desired Outcomes, and not just hope it happens, you need to actively work your customers toward that goal. This sounds simple, but proves to be more complex than it appears. This is where Customer Success Management comes in. Lincoln defines CSM as the process of moving customers toward their ever-evolving Desired Outcome, and illustrates this with 8 key points. Read it.

– Harvard Business Review –
How Chief Data Officers Can Get Their Companies to Collect Clean Data
Here is a thoughtful article by Gahl Berkooz for the HBR blog. Gahl succinctly points out that the quality of the data you collect ultimately determines its value as an asset to your organization. Today’s Chief Data Officers need to constantly work to improve quality of the data they collect. He provides some really good points and practices here which show that in a world where data is such a valuable asset, the quality of that data is everyone’s job. Love it.

– Data Informed –
7 Misconceptions About Data Lakes
Because the data lake is a relatively new concept, there is a significant amount of misinformation regarding what they are and how they work. Alex Bordel clarifies these in this article for Data Informed. His feeling is that the data lake will become standard practice for many companies, and although the creation is not trivial, the rewards appear to be well worth the effort. Love it.

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From the Customer Success & Analytics vendors:

– Woopra Blog –
Applying the Data Glue: The Quest for a Data-Driven Culture
Next up we have part two of a three-part series into marketers on the journey to a Data-Driven Culture. This is a quick look at the idea of bringing disparate data together by applying “the glue” to connect cross-channel behaviors. We’re looking forward to the next in this series. Read it.

– Natero Blog –
Practical Example: A Push System for Customer Success
Here is a great look at how DocSend created a “push” system to arrange their individual customer touchpoints based on where customers were in their lifecycle. Ari Klein gives us some specific examples on the steps they took to provide a consistent, value-driving experience for their customers. Love it.

– Heap Blog –
How the Most Innovative SaaS Companies Use Data
This is a Q&A portion from an episode of “The Analyst” podcast, which is also available here to listen to in it’s entirety. We chose to feature it as it takes an informative look at how data analysis is different for a SaaS company vs a B2C. Additionally, it covers some great topics like data quality, data architecture, and why seeking out granular information over aggregations may give you more insights to act on. Read it.

– Amplitude Blog –
How you can get everyone in your company to solve problems with data
How do you put your organization on the path to being a culture that predicates its decisions on data. According to this article from Alicia Shiu, you need to apply a multi-pronged approach of shifting your mentality, your process, and your structure, to have a fully integrated culture of data. Here she give us 3 steps that will help you make that shift. Read it.

– ​Appuri Blog-
Analyzing Big Data Using an Integrated, Customer-Centric Approach
Bob Hayes writes this post for Appuri that presents a few analytic approaches in which different types of data sources are merged with customer data. This customer-centric approach allows businesses to analyze their data in a way that helps them understand the reasons for customer dis/loyalty and the impact this has to the growth of the company. Another example of how extracting value from big data via smart analytics is key to business successes. Keep in mind the three V’s of Big Data – Volume, Velocity, and Variety. Read it.

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From us at Sparked:

Sign up for the world’s best Customer Lifecycle Management solution at www.sparked.com

Cheerio,
Jeff

What’s new in Customer Lifecycle Optimization – Thursday, January 26th

Hi and welcome to our roundup about what’s new in Customer Lifecycle Optimization. Sorry that it’s been a while (we got really busy for a stretch there). Note also that we’re broadening the scope of this update from Customer Success to Customer Lifecycle Optimization. The reason is that we’re finding that many of our clients need to solve significant aspects of their CLM processes (ie: data and machine-learning pipelines) before building up their Customer Success capabilities.

In these roundups, we scour the web for the best and brightest about optimizing the customer lifecycle. Below, are the top articles from companies, pontificators, and vendors. Enjoy!

– Jeff Nickerson, Roundup Curator at Sparked
**Keep your customers** with Sparked.
More info at: www.sparked.com

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From the companies and pontificators:

– Business 2 Community –
Customer Success of Things – Some Definitions
Susan Nabeth Moore shares a few of her thoughts around the business metamorphosis we are witnessing in the emerging role of customer success. Even though the role is still new to some, there are common themes around it’s impact, which she calls “Customer Success of Things”. Love it.

Maintaining Proactive Customer Success in a Fast-Growing Startup
Every startup thrives for one thing…growth. Simply striving for growth though may be the wrong approach if it comes at the expense of a skyrocketing churn rate. To make sure your Customer Success team stays on track while your company grows, keep in mind these two factors: capabilities and capacities. Mathilde Augustin writes this interesting article on why it is necessary to manage growth by adjusting these two factors at the same time. Read it.

Busting the 5 Biggest Myths Around Customer Lifetime Value
Customer Lifetime Value has become quite a hot topic, and chances are that you’ve read a lot about what is can and can’t do for your business. Unfortunately, there is also a healthy amount of confusion about this powerful new approach to customer-focused insights. Peter Fader helps us get a clear answer to the questions about CLV that many of us may have. Read it.

– customerTHINK –
How Data Integration and Machine Learning Improve Customer Loyalty
Here is a two part article from Bob Hayes. In Part 1 he discusses the goal of most businesses in out Big Data world, maximizing the value of customer data. We know that these data are stored in many different systems, which may or may not know about one another. It is only those who figure out how to connect these systems who will see the rewards of putting togeher thw whole customer puzzle. Love it.

– Tomasz Tunguz –
Is Machine Learning Overhyped?
For the nine years Tomasz has been a venture capitalist, there’s always been a buzzword of the year. Solomo (social local mobile). Mobile-first. Realtime. Big data. 2016 was the year of machine learning. In this article he addresses if ML is just another wave to crash and dissipate on the trough of disillusionment?Love it.

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From the Customer Success & Analytics vendors:

– Kissmetrics​ Blog-
95% Of Your Churn Should be Ignored. Here’s Why
We found this great one from Sadhana Balaji who explains that it’s our job as service providers to identify those businesses that have already crossed the initial phase of uncertainty, have built sufficient momentum and have acquired considerable value from us, and help them in advancing to the subsequent levels of growth. Love it.

– Totango Blog-
What Are The Customer Lifecycle Stages?
While there are several stages throughout the customer lifecycle, the most important stages for customer success teams are post-transaction and usually include: Onboarding, Nurture, Renewal, and Expansion. Totango’s Marketing Manager, Kevin Garcia breaks down each of these for us in this informative blog post. Read it.

– Gainsight Blog-
Why You Need Customer Success Early
Oleg Rogynskyy highlights the typical lifecycle of a startup here, and illustrates how Paul Graham’s “startup curve” is still accurate. For young companies the key is to remember how important your existing customer base is, and to invest in internal resources accordingly. In particular, companies need to focus on churn metrics from day one. Read it.

Why Customer Success Matters Just as Much as Sales
Ruairi Galavan is the Manager of Product Education at Intercom. Here he explains that when we thing about onboarding we usually don’t think beyond signup. In reality, your onboarding is just getting started. You haven’t turned users into experts, and they haven’t yet given up all the other products they used before yours. If this is the case, you only focus your onboarding efforts on new signups, you’re leaving a massive opportunity on the table – passionate, engaged customers. Love it.

– ​Intercom​ Blog-
Successful customer onboarding never stops
From the Gainsight blog, Alex McClafferty and Nils Vinje of Glide Consulting discuss the value of simplicity and discipline with your customer success platform. There are some valuable insights here for what you should be asking from a CS platform vendor. These products aren’t magic, and teams who switch to a dedicated platform hoping that the problems of disparate data types, and inconsistencies will be removed. In reality if your processes aren’t sorted out prior to the switch then your implementation may not all that you hoped for. Great article here. Love it.

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From us at Sparked:

Sign up for the world’s best Customer Lifecycle Management solution at www.sparked.com

Cheerio,
Jeff