The Great Customer Resignation: 7 Ways to Prevent Churn

There is a path forward for companies to deliver high-definition customer experiences (HD-CX): Eliminating the roadblocks included with traditional CRMs, removing the busy work that technology should do, and getting rid of blind spots created by siloed data across customer-facing teams.

In this webinar with Liz Miller, VP & Principal Analyst, Constellation Research and Clare Dorrian, CMO, SugarCRM, we highlighted:

- Why customer experience is the ultimate measure of churn
- How aligning marketing, sales, and service teams can improve customer satisfaction
- How technology and AI are changing the game as customers are changing the rules of engagement

Transcript

1. The Great Customer Resignation: 7 Ways to Prevent Churn
2. © 2022 SugarCRM Inc. All rights reserved. 2 Everyone is on mute Questions are welcome Recording available Before We Start
3. © 2022 SugarCRM Inc. All rights reserved. Sarah Friedlander G. Director, Content & Creative SugarCRM sarah.friedlander@sugarcrm.com Presenters Clare Dorrian CMO SugarCRM clare.dorrian@sugarcrm.com Sarita Kincaid VP, Corporate Comms SugarCRM sarita.kincaid@sugarcrm.com Liz Miller VP & Principal Analyst Constellation Research @LizKMiller (Twitter) 3
4. © 2021 SugarCRM Inc. All rights reserved. 4 4
5. © 2022 SugarCRM Inc. All rights reserved. 1. Customer Flight Wreaks Havoc 2. Customer Experience Matters 3. Make Data-Driven Decisions 4. Time to Make CRM More Accessible 5. Sales and Lead Generation Still Hard 6. Opportunity to Improve Organizational Alignment 7. AI Holds Promise What We Heard 5 5
6. © 2022 SugarCRM Inc. All rights reserved. 1. Make Data-Driven Decisions 2. Make Your CRM More Accessible 3. Improve Organizational Alignment 4. The Growing Role of AI What We Will Focus On Today 6 6
7. © 2022 SugarCRM Inc. All rights reserved. Make Data-Driven Decisions 7
8. © 2022 SugarCRM Inc. All rights reserved. • One in four sales leaders believes they could miss a quota because of incomplete customer data. • 56% feel they are missing data to improve their marketing campaigns and sales conversions. • 75% say a consolidated view of customer information across the whole organization is critical to delivering optimal customer experiences. Make Data-Driven Decisions • The sales and marketing divide runs deep. • Culture of data... or culture of metrics? • The manual drudge contributes to the ‘Great Refactoring’. • Is it the whole org or sales/marketing org? And yes... the answer matters. What We Learned Constellation Research Insights 8
9. © 2022 SugarCRM Inc. All rights reserved. Make Your CRM More Accessible 9
10. © 2022 SugarCRM Inc. All rights reserved. Poll Question #1 On a typical working week, how much time would you spend on reviewing CRM data? 10
11. © 2022 SugarCRM Inc. All rights reserved. • 76% say their biggest frustration with CRM is being either too complex, not intuitive or user friendly or cannot be customized. • 55% think their current CRM system cannot be customized properly to meet their specific needs • 58% sales and marketing leaders believe their current CRM is wasting money. Make Your CRM More Accessible • The Origin stories are coming back around. • Employees and customers both question reality. • Accessibility isn't just access. • Let's talk what IS wanted...and why. What We Learned Constellation Research Insights 11
12. © 2022 SugarCRM Inc. All rights reserved. CMO Tech Stack Search 12 Source: Constellation Research. CMO 2021 CDP (65%) Analytics (61%) CX (58%) Revenue (58%) Video (47%) Digital Experience (44%) Marketing Automation (33%) Data Visualization (33%) ABM (33%) Collaboration Tools (32%) Revenue (39%) CDP (13%) CX (10%) Analytics (6%) ABM (5%) Tech Being Considered in 2021 Tech Critical to Success in 2021
13. © 2022 SugarCRM Inc. All rights reserved. • 76% say their biggest frustration with CRM is being either too complex, not intuitive or user friendly or cannot be customized. • 55% think their current CRM system cannot be customized properly to meet their specific needs • 58% sales and marketing leaders believe their current CRM is wasting money. Make Your CRM More Accessible • The Origin stories are coming back around. • Employees and customers both question reality. • Accessibility isn't just access. • Let's talk what IS wanted...and why. What We Learned Constellation Research Insights 13
14. © 2022 SugarCRM Inc. All rights reserved. Improving Organizational Alignment 14
15. © 2022 SugarCRM Inc. All rights reserved. Poll Question #2 Which of the following would you say is causing misalignment between sales and marketing? 15
16. © 2022 SugarCRM Inc. All rights reserved. • Two-thirds of sales and marketing leaders agree that sales and marketing misalignment prevents their organization from growing their business. • The top reason at 72% was incompatible KPIs or incentivized by different goals. • 61% of respondents cite unintegrated systems or different technology platforms for misaligned sales and marketing efforts. Improve Organizational Alignment • Mars vs Venus...still? • Roadblock or Partner...shhhh...it's a secret! What We Learned Constellation Research Insights 16
17. © 2022 SugarCRM Inc. All rights reserved. CX Ecosystems 17 Who is on your CX team? SHHH TOP SECRET! Source: Constellation Research. CMO 2022 Partner Collaborator Roadblock Missing in… Chief Customer Officer Sales Team Customer Support /…
18. © 2022 SugarCRM Inc. All rights reserved. • Two-thirds of sales and marketing leaders agree that sales and marketing misalignment prevents their organization from growing their business. • The top reason at 72% was incompatible KPIs or incentivized by different goals. • 61% of respondents cite unintegrated systems or different technology platforms for misaligned sales and marketing efforts. Improve Organizational Alignment • Mars vs Venus...still? • Roadblock or Partner...shhhh...it's a secret! What We Learned Constellation Research Insights 18
19. © 2022 SugarCRM Inc. All rights reserved. The Growing Role of AI 19
20. © 2022 SugarCRM Inc. All rights reserved. Poll Question #3 Is your organization currently using Artificial Intelligence (AI) to augment any sales or marketing processes? 20
21. © 2022 SugarCRM Inc. All rights reserved. • 86% said their organization’s sales team uses AI to augment one or more business processes. • 91% say they expect to use AI technology to augment existing processes to increase over the next 24 months. • Use cases for AI solutions with high adoption include automated emails (44%), conversational AI (36%), and opportunity close prediction (33%). The Growing Role of AI • AI typically fails for two big reasons. • AI, much like CX, needs a strategy, not just an on-button. • AI will accelerate thanks to development advancements, making AI Ops a real thing... are you ready? What We Learned Constellation Research Insights 21
22. © 2021 SugarCRM Inc. All rights reserved. sugarcrm.com/crm-impact/ Download the complete report for all the facts and figures, plus a country comparison chart for the U.S., U.K., Germany and Australia. Learn More 22 DOWNLOAD REPORT
23. © 2022 SugarCRM Inc. All rights reserved. Q&A 23
24. © 2022 SugarCRM Inc. All rights reserved. Thank You! 26