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Claire Suellentrop - Misunderstanding your customers: The most expensive mistake your company is making (Turing Fest 2019)

Claire Suellentrop - Misunderstanding your customers: The most expensive mistake your company is making (Turing Fest 2019)

Your team's working hard as they can across the board: marketing, sales, product and customer success. But if you're seeing inconsistent — or even flat-lining — revenue growth, chances are high that beneath everyone's hard work, there's a mismatch between your team's focus, and what customers actually need.

During this talk, you'll learn why companies unknowingly fall out of alignment with their customers — and how it can happen to your team, if it hasn't already. You'll walk away with a practical exercise you can run back at the office, to centralize your departments around customers' needs and get everyone working toward the same goals. The result? More new signups, a stickier product — and ultimately, a healthier MoM growth rate.

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Turing Fest
PRO

August 29, 2019
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Transcript

  1. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Misunderstanding Your Customers: the

    Most Expensive Mistake Your Company is Making (And how to correct it before next quarter)
  2. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Hello! We help fast-growing

    SaaS companies identify & act on growth opportunities
  3. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Hello!

  4. Misunderstanding Your Customers #TuringFest / @ClaireSuellen 86% Of buyers are

    willing to pay more for a great customer experience. oracle.com/us/products/applications/cust-exp-impact-report-epss-1560493.pdf
  5. Misunderstanding Your Customers #TuringFest / @ClaireSuellen By 2020, customer experience

    will overtake price & product as the key brand differentiator. walkerinfo.com/knowledge-center/featured-research-reports/Customers-2020-A-Progress-Report
  6. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “ 80% of companies

    believe they deliver a “superior experience” to their customers... www2.bain.com/bainweb/pdfs/cms/hotTopics/closingdeliverygap.pdf
  7. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “ 80% of companies

    believe they deliver a “superior experience” to their customers... www2.bain.com/bainweb/pdfs/cms/hotTopics/closingdeliverygap.pdf however, only 8% of their customers agreed.
  8. Misunderstanding Your Customers #TuringFest / @ClaireSuellen

  9. Misunderstanding Your Customers #TuringFest / @ClaireSuellen

  10. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “Wall of Misunderstanding”

  11. Misunderstanding Your Customers #TuringFest / @ClaireSuellen

  12. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “Wall of Misunderstanding” Your

    customers are over there ← Your team is over here
  13. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “Wall of Misunderstanding” Symptoms

    13
  14. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “Wall of Misunderstanding” Symptoms

    “We have an acquisition problem.”
  15. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “Wall of Misunderstanding” Symptoms

    “We have a churn problem.” “We have an acquisition problem.”
  16. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “Wall of Misunderstanding” Symptoms

    “Deals take forever to close & become burdensome clients.” “We have a churn problem.” “We have an acquisition problem.”
  17. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “Wall of Misunderstanding” Symptoms

    “Deals take forever to close & become burdensome clients.” “We have a churn problem.” “We have an acquisition problem.” “We’re shipping new features, but adoption isn’t improving.”
  18. Misunderstanding Your Customers #TuringFest / @ClaireSuellen So...how do we fix

    this? ←
  19. Misunderstanding Your Customers #TuringFest / @ClaireSuellen We start at the

    root of the problem.
  20. Misunderstanding Your Customers #TuringFest / @ClaireSuellen 2 “Wall of Misunderstanding”

    Roots
  21. Misunderstanding Your Customers #TuringFest / @ClaireSuellen 2 “Wall of Misunderstanding”

    Roots Decision makers have adopted popular knowledge or tactics without questioning whether they apply to your customers 1.
  22. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Your employees

  23. Misunderstanding Your Customers #TuringFest / @ClaireSuellen 2 “Wall of Misunderstanding”

    Roots Departments are incentivized by metrics that don't match customers' success 2.
  24. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Success metrics driving your

    teams Product Mgmt & Dev: Speed of output Sales: Demos, deals Marketing: Leads Success & Support: Speed of tickets closed
  25. Misunderstanding Your Customers #TuringFest / @ClaireSuellen medium.com/@dahartattack/what-is-an-enlightened-growth-leader-how-does-one-avoid-burnout-3469db845725

  26. Misunderstanding Your Customers #TuringFest / @ClaireSuellen “ Instead of thinking

    about how to deliver the most value to customers, departments are thinking about their own incentives. medium.com/@dahartattack/what-is-an-enlightened-growth-leader-how-does-one-avoid-burnout-3469db845725
  27. Misunderstanding Your Customers #TuringFest / @ClaireSuellen So...what does good look

    like?
  28. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks

  29. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks

  30. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks

  31. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks Job

    #1 Make it easy to get started with invoicing & payments
  32. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks Job

    #1 Make it easy to get started with invoicing & payments Job #2 Help me get back to offering credit card payments to my customers
  33. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks

  34. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks

  35. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks

  36. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks SMBs

    “discovering” Autobooks → signing up:
  37. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks SMBs

    “discovering” Autobooks → signing up: Conversions rose from 14% → 23% (64% increase)
  38. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks SMBs

    “discovering” Autobooks → signing up: Conversions rose from 14% → 23% (64% increase) SMBs “discovering” Autobooks → signing up: SMBs accepting payments through Autobooks:
  39. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Case study: Autobooks SMBs

    “discovering” Autobooks → signing up: Conversions rose from 14% → 23% (64% increase) SMBs “discovering” Autobooks → signing up: SMBs accepting payments through Autobooks: 300% increase in 30 days
  40. Misunderstanding Your Customers #TuringFest / @ClaireSuellen How did we do

    it?
  41. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Positioning Marketing messaging Sales

    approach Onboarding Product developm ent Customer Success
  42. Misunderstanding Your Customers #TuringFest / @ClaireSuellen

  43. Misunderstanding Your Customers #TuringFest / @ClaireSuellen 1. Rally the troops

    2. Find your best customers 3. Get those customers on the phone 4. Zoom in on patterns
  44. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Doomed to fail ←

    Step 1: Rally the troops
  45. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Fighting chance ← Step

    1: Rally the troops
  46. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Step 2: Find your

    best customers
  47. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Step 3: Get those

    customers on the phone 10 calls Whole team “Timeline”
  48. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Step 3: Get those

    customers on the phone
  49. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Step 3: Get those

    customers on the phone List of interview questions: claire@heyelevate.com
  50. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Step 4: Zoom in

    on patterns Common struggles pushing people to shop How they evaluated the options What they were skeptical of / worried about How they finally found your solution How they knew it was right for them
  51. Misunderstanding Your Customers #TuringFest / @ClaireSuellen This sparks innovation everywhere

  52. Misunderstanding Your Customers #TuringFest / @ClaireSuellen This sparks innovation everywhere

    Uncovered surprising reasons for churn, got the team excited to build new solutions
  53. Misunderstanding Your Customers #TuringFest / @ClaireSuellen This sparks innovation everywhere

    Uncovered surprising reasons for churn, got the team excited to build new solutions Found marketing messages that connected with customers & increased paid media ROI
  54. Misunderstanding Your Customers #TuringFest / @ClaireSuellen This sparks innovation everywhere

    Uncovered surprising reasons for churn, got the team excited to build new solutions Launched key new feature & redefined messaging, increasing new user signups by 64% Found marketing messages that connected with customers & increased paid media ROI
  55. Misunderstanding Your Customers #TuringFest / @ClaireSuellen This sparks innovation everywhere

    Uncovered surprising reasons for churn, got the team excited to build new solutions Launched key new feature & redefined messaging, increasing new user signups by 64% Redesigned entire product & go-to-market strategy, now one of the fastest growing enterprise startups in the Valley Found marketing messages that connected with customers & increased paid media ROI
  56. Misunderstanding Your Customers #TuringFest / @ClaireSuellen

  57. Misunderstanding Your Customers #TuringFest / @ClaireSuellen

  58. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Go forth List of

    interview questions: claire@heyelevate.com
  59. Misunderstanding Your Customers #TuringFest / @ClaireSuellen Thanks! Need help? Get

    in touch: claire@heyelevate.com