Learning Quizzes Flashcards
According to Geoffrey Moore over the last decade we’ve shifted from the Product Era to the ________ Era.
Geoffrey Moore refers to the “Service Led Era”
T/F
To succeed in the Subscription Economy, companies need to focus on retaining and growing customers, as much, if not more, than acquiring them in the first place.
True. Most revenue (and all pro t) from subscription customers is likely to come in the second year of the relationship and beyond. For this reason, a focus purely on acquisition would be short-sighted.
In what year did Dr. Doom deliver his now infamous presentation to Marc Benioff of Salesforce?
The meeting took place in 2005 and Customer Success was born shortly thereafter!
How many Hallmarks of Customer Success did Salesforce conceive?
Salesforce identifi ed 5 Key Hallmarks of Customer Success.
T/F
Increased customer engagement enables organizations to better understand customer needs.
Engagement is key. If you don’t have engagement with your customers, it’s much harder to understand their needs and influence their behavior.
T/F
Accurate expectation-setting is a core pre-requisite for delivering customer success.
If expectations aren’t set correctly, then it is possible that a customer will churn, even though value may have been created. Expectation-setting is therefore a critical component of Customer Success delivery.
What is the third step of the value delivery process - a step that is often forgotten?
Many organizations focus all their energy on value delivery but forget about value demonstration - the act of helping a customer understand the value that you’ve created for them. If a customer doesn’t understand the value, then they will be less likely to invest more money in your solution.
In the road trip analogy discussed in this module, in which the customer is the driver and the car is the product, what role does the Customer Success Manager play?
The CSMs job is to guide the customer towards their desired destination, but the customer is the one at the controls (steering wheel). Hence the CSM is in the passenger seat, assuming the role of navigator.
Customers are now buying ___________?
Customers have always cared about business outcomes. However now, more than ever, they expect their vendors to care too. As a result, customers are buying solutions based on the outcomes they can deliver, not based on features and functionality.
These are the three main ways that Customer Success will impact a recurring revenue business. Successful customers will…
Improve retention
Improve upsell / expansion
Improve advocacy.
A well-mapped and well-understood Customer Journey is a key foundation for building a successful Customer Success strategy. Start off with a simple, generic version, but then look for opportunities to improve it by creating personalized versions for different key customer segments.
Customer Journey
T/F
The ICP is your company’s definition of what type of customer you can make successful with your product.
True. The ICP outlines customers that you feel would best benefit from your particular service or product. If a customer matches the ICP they are considered to be ‘on persona’.
The Customer __________________ Score provides you with a snapshot of how the customer is progressing on their journey to success.
A Customer Health Score should help you identify how well customers are tracking against their path to success and enable you to intervene if they start to deviate.
T/F
A Success Plan helps you articulate what success looks like for every customer.
True. A success plan is an important document that shows the goals, challenges, and important milestones that you have determined for each of your customers.
_______________ should detail all proactive touchpoints that you plan to have with your customer, regardless of channel or medium.
A typical customer engagement model
