Accelerate Podcast with Andy Paul
May 10, 2017

#454. The Ins and Outs of Customer Success. With Lincoln Murphy.

Lincoln Murphy, Customer Success Architect and Mentor at Storm Ventures, and co-author of Customer Success: How Innovative Companies Can Reduce Churn and Grow Recurring Revenue, joins me on this episode of #Accelerate!

KEY TAKEAWAYS

[2:58] Lincoln saw there was no book that fully covered Customer Success, so he wrote one. You can’t lose customers and expect to grow in any meaningful way.

[4:37] Lincoln explores how we got to the point where customer success is a new operating philosophy, not just for SaaS, but for all businesses. Salesforce was the main influence.

He also compares reducing churn with real revenue growth.

[9:53] Salesforce was facing an existential threat with 8% churn every month, before focusing on customer success. Lincoln gives his definition of customer success, and explains the causes of churn.

[13:44] Churn also includes revenue churn, based on discounts offered for renewal. Lincoln discusses net revenue retention, how to determine it, and how it relates to overall growth.

[15:29] Lincoln suggests segmenting customers, not based on their payment level, but on the experiences you need to give them to ensure their success. Losing a customer in a bad experience also costs you anyone they influence.

[19:54] A customer who receives no value is not a good reference. Shoot for 100% referenceable customers. Know the traits of a bad-fit customer. Don’t set your customers, or your company, up for failure. Don’t sign bad-fit customers.

[22:07] Customer success needs to be aligned with sales and marketing. Customer success can educate marketing and sales how the customer is using the product, and what language appeals to the customer.

[24:25] A customer signing a one-year contract, and staying for five years, contributes five times the revenue of the original contract. Customer success is responsible for 80% of the lifetime revenue of that customer; sales is responsible for 20%.

[26:54] Lincoln addresses time-to-value. If immediate value is expected, and that expectation is not met, that is a problem. Teach the client what to expect at 30, 60, and 90 days, so expectations are met. Help clients see long-term value, ASAP.

[30:02] Lincoln talks about personal relationships and loyalty. Humanity is the table stakes, but the sale is about the value to the customer, and their success, not their loyalty to you as their sales representative.

[33:53] Deals are no longer closed on the ability to charm. Value has to be delivered consistently from the vendor to the customer.

March 22, 2017

How To Create Value for Your Prospects. With Jack Kosakowski. #412

Joining me once again on this episode of Accelerate! is my guest Jack Kosakowski, Global Head of B2B Social Sales Execution at Creation Agency.

KEY TAKEAWAYS

[1:58] A sales professional for 12 years — in manufacturing and tech — Jack found a niche in social sales. His passion is integrating social into B2B sales.

[2:55] Jack gives his straightforward assessment of the single biggest challenge sales representatives face today. He follows up by describing a general problem with the SDR model.

[4:35] What happens to the sales process, in companies under high pressure to grow?

[5:36] Jack talks about shortcuts that turn out not to be pathways to sales success.

[7:36] The discussion turns to training issues.

[8:40] Jack has advice for marketing and sales alignment.

[11:27] What is different about B2B selling today, than before the use of the account-based sales model?

[14:22] The Art vs. the Science of Sales: the Debate. Jack would like to know the sales equation, if there is one.

[15:10] Jack covers building the right team, creating the right processes, stacks, and sales training strategy.

[18:05] Jack talks about questions sales representatives ask.

[20:57] How to dig deeper.

[23:50] Jack has learned more empathy for the buyer by being pitched. What skills has he seen lacking, among sales reps who called on him? Could they have given more memorable value?

[30:11] How does social media selling allow the sales professional to sell proactively?

March 4, 2017

How to Add Value with Affiliate Marketing. With Priest Willis. #397

Priest Willis, Founder and CEO of Affiliate Mission.

KEY TAKEAWAYS

[1:22] Priest is President of AffiliateMission.com, an online affiliate management company, managing large to small business affiliate programs, for the past four years.

[2:06] Priest started in business building PCs, but got tired of cleaning up people’s viruses. Then he sold software on eBay. Next he  created websites, and he became an affiliate. He started affiliate marketing and has stayed with it, ever since.

[3:58] Affiliate marketers earn commissions promoting other people’s products on their websites. A blogger can put up a banner for a related product. Sales are handled by the vendor that sells it. Amazon was one of the first big affiliate players, in 1996.

[6:22] Merchants with affiliate programs work with a third-party tracking system, or an affiliate network. Some of the big names out there are: CJ Affiliate (formerly Commission Junction), ShareASale, and Impact Radius. They track cookies.

[6:45] Clicking on the banner drops the cookie; the cookie alerts the affiliate network; the affiliate network waits for the sale to convert and register a commission. The commission could be a flat amount, or a percentage of the sale.

[7:38] Typically, if the sale is not converted within 30 days, the cookie expires. So, the customer may abandon the shopping cart, but if they make the purchase within the duration, the affiliate gets the commission.

[9:08] Andy asks how people could get into affiliate marketing. He could enter as a merchant, offering affiliates incentives to market his books on their websites, or he could become an affiliate of a merchant in a niche where he already has a blog with readers.

[11:48] Affiliate marketing will not drive traffic to your site. If you decide to start a cooking blog, and want to affiliate with an oven manufacturer, be aware of the work ahead of you, to get a following that will provide eyes for your affiliate banner.

[14:50] Look on YouTube for great videos to teach you about affiliate marketing. This works on Facebook, Twitter, and Instagram, all three or any one. Post the text links in connection with your mention of the product, or in your bio.

[19:51] Priest recommends only affiliating with products that are cohesive with your own brand. A computer blog doesn’t need a banner for skateboards or detergent. Look at your pages as real estate, and think where to put the banner or link.

[26:45] Affiliate Mission works for large merchants to manage their ecosystem of network and affiliates. They represent the merchants to the affiliates, supplying current materials, links, and cookies. They find new affiliates for the merchants.

[32:48] Priest likes capitalism to make a difference in the world. He tells clients that Affiliate Mission will give 3-to-5% of their profits from that client to a charity of the client’s choice. The mission is giving back.

January 28, 2017

How to Apply the Coaching Model in Your Organization. With Barry Demp. #367

Joining me on this episode of Accelerate! is my guest Barry Demp, Founder of Barry Demp Coaching, and author of an interesting book, called, The Quotable Coach: Daily Nuggets of Practical Wisdom. Among the many topics that Barry and I discuss are how a coaching relationship differs from a management relationship, why it’s essential to connect with the vision and values of your people, and how to find fulfillment in your work.  

KEY TAKEAWAYS

[:50] Barry taught Science for two years in the Philadelphia Public Schools. He moved into pharmaceuticals in sales and marketing for 12-1/2 years, for Upjohn. Barry left in 1992.

[2:48] Barry was moved by the Barcelona Olympic Games. A documentary on athletes and coaches inspired him to bring coaching to business, which he has been doing for 24 years.

[7:09] In a coaching relationship, people promise action to fulfill a future goal they intend to achieve. They lead themselves to the future they desire. Old-school management is, my job is to get you to go where I need you, like it, or not.

[9:33] When people’s vision and values connect with the organization, they see work can be an expression of themselves, and they engage with it, and are fulfilled by that community, and they build it up to mutual benefit.

[13:16] The balance begins with relationships. Quality relationships underlie quality results. Knowing your employees, and their values, are drivers of human behavior. “We’re not a machine anymore,” ― Seth Godin.

[23:48] Barry’s book is developed from his blog. Andy notes selected quotes: “You’re more likely to act yourself into
feeling, than feel yourself into action.” ― Jerome Bruner.
Start something!

[25:47] “People are anxious to improve their circumstances, but they’re unwilling to improve themselves. They therefore remain bound.” ― James Allen. Invest in yourself!

[27:10] “Don’t stumble over something behind you”
― Seneca the Younger. Where do we live — past, present, or future? Be present in the moment, and step into the future!

[28:34] “Death is Nature’s advice to get plenty of life.”
― Goethe. Life is finite. Get the most out of it!

[30:06] “Our chief want in life is somebody who will make us do what we can.” ― Ralph Waldo Emerson. The ability to take a stand for other people is a remarkably powerful place!

[31:30] “If you chase two rabbits, both will escape.”
― Author Unknown. Choose and focus! The most productive people are highly-focused, not multi-taskers.

[32:33] “Instead of seeking new landscapes, develop new eyes.” ― Marcel Proust. Perception is reality. If we perceive things in new ways, we create new realities!

December 3, 2016

What’s Your Unique Promise of Value? With John Smibert. #321

Joining me on this episode of Accelerate! is John Smibert, Co-founder and CEO of Strategic Selling Group. Among the many topics that John and I discuss are the importance of building your personal brand — your unique promise of value; how you as a salesperson can become a domain expert; and why every salesperson should publish on social media.

October 17, 2016

How to Use Metaphors to Sell Your Intangibles. With Andrea Goulet. #281

Joining me on this episode of Accelerate! is Andrea Goulet, Founder & CEO of Corgibytes, a software/code remodeling firm based in Richmond, Virginia. Among the many topics Andrea and I discuss are how Andrea incorporates her company’s core values into her team’s selling efforts, how to use metaphors when selling your intangible value, and how selling her company’s core values have helped with conversion rates and customer lifetime value.

October 11, 2016

The Only Sales Guide You’ll Ever Need. With Anthony Iannarino. #276

I am very excited to welcome back to Accelerate! my good friend, Anthony Iannarino. Anthony is a speaker, blogger, extraordinary sales leader, and author of a new book, The Only Sales Guide You’ll Ever Need. Join us in this episode as Anthony and I discuss a range of topics from his new book including, why you as a salesperson are the primary value proposition, how psychology is more important than technology in sales, how a healthy sense of competitiveness is critical in sales, and how to ignite your competitive spirit.       

October 8, 2016

How to Align Your Value with Your Ideal Client. With Wendy Y Bailey. #274

Wendy Y Bailey is a sales speaker, business coach, and President & CEO of Business Beyond Limits. Join us on this episode as we discuss the importance of personal branding, why Wendy believes Neuro-Linguistic Programming (NLP) enables you to better communicate with prospects, why upgrading your ideal client profile is essential to amping up your sales, and the critical role of value alignment in sales.

September 18, 2016

Sunday Special: Listener Favorites on Value-Driven Selling

I’ve had a number of guests on Accelerate! to talk about value-driven selling. In case you missed them the first time around, here are two recent episodes about value in sales that were extremely popular with the friends of Accelerate!

Deb Calvert joined me on Episode #222 to talk about How to Create Value in Sales. Deb is president of People First Productivity Solutions and has authored of a series of books titled, DISCOVER Questions Get You Connected: For Professional Sellers. Among the topics Deb and I discuss in this episode are how sales reps can create value in sales, 10 essential strategies for connecting with prospects and how to differentiate yourself through a memorable buying experience.

Donal Daly joined me on Episode #241 to discuss n Donal  is CEO and Founder of Altify, and author of Amazon #1 best-seller, Account Planning in Salesforce. Donal combines his expertise in enterprise software applications, artificial intelligence, and sales methodology, as he continues to transform how progressive organizations sell. In this episode, Donal and I review the major findings from the recent Altify study, Global Buyer/Seller Value Index 2016. Among the topics we discuss are what it means to create value through the sales process, how to effectively manage your sales opportunities, and the statistical link between engaging buyers early in their buying process and the sellers’ win rate.

September 12, 2016

How to Increase Sales with Value-based Selling. With Julie Thomas. #251

President and CEO of ValueSelling Associates, Julie Thomas, is a noted speaker, consultant and author of ValueSelling: Driving Up Sales One Conversation At A Time. On this episode, among the topics Julie and I discuss are defining what value is in sales, how to establish value in the prospect’s mind, how creating value in the sales process is challenged by technology and automation and the four dimensions of qualifying a prospect.