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

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