Every business executive, entrepreneur, or aspiring leader wants to know what’s going on in the market, but not everyone has the time or patience to sift through all the research. Join executives, Baxter Webb and Joseph Saig, as they recap the most important insights and share their experiences and observations to help you navigate your journey to business growth success. Keep up with the current trends, actionable steps to take, and most importantly, what not to do.
Not All Who Wander Are Lost: Winning Back Lost Customers
In this episode, we delve into the journey of re-engaging with customers who have left, exploring strategies and insights to bring them back and keep them loyal. Inspired by a fascinating research study and enriched with examples from various industries, we'll uncover how to segment lost customers, tailor marketing messages, and address both economic and emotional costs to encourage their return. Join us as we discuss the art of winning back customers and the value they can bring, even after they've wandered away.
8 Jul 2024
The Evolution of Customer Success Management: From Vantiv to Salesforce and Beyond
In this episode, we dive into the powerful and transformative concept of Customer Success Management (CSM). Historically, sales teams would manage customer relationships up to the point of the sale, then hand off to implementation or support teams. This all changed in 1996 when Vantive Systems, a Santa Clara software company, faced a unique challenge and pioneered the concept of a customer success team.
The new system introduced several novel innovations:
- Integrating the CSM team during the sales process
- Asking customers how they defined success and their expectations from the company
- Revisiting these questions every six months to ensure ongoing alignment.
CSM has significantly blurred the lines between traditional siloes like marketing, sales, IT, and customer support, raising important questions about organizational design, role responsibilities, and compensation.
Join us as we explore these fascinating developments and their implications for the future of customer relationship management.
8 Jul 2024
The Truth About Net Promoter Score: Myth or Magic?
In this episode, we delve into an article by researchers from Elon College to explore the reality behind the Net Promoter Score (NPS). Despite its widespread use by top companies like Apple and Amazon, NPS has faced significant academic criticism for its methodological flaws and questionable predictive power.
We examine the origins of NPS, its calculation, and the benchmarks for success, and discuss why so many firms still rely on it despite the controversy. We also highlight fascinating insights on how cultural differences and gender impact NPS and word-of-mouth advertising.
Join us as we uncover whether NPS is a reliable metric or just a business fad.
8 Jul 2024
Can LinkedIn Boost Sales Team Productivity?
How many InMails have you ignored this month? Is your LinkedIn feed filled with wannabe influencers and subpar content? In this episode, we explore whether LinkedIn is a valuable resource for sales and marketing efforts.
Recent data shows LinkedIn InMail open rates range from 57.5% to 86%, far surpassing the 21.6% for emails. Response rates are similarly higher on LinkedIn.
Professors Omar Itani, Ashish Kalra, and Jen Riley conducted a study with 160 US sales reps, examining their LinkedIn use and industry knowledge. They found that greater LinkedIn use led to higher sales quota performance—not due to tech savviness or better prospecting, but because of deeper industry and customer knowledge. This enabled sales reps to better position their products and co-create value with customers.
Interestingly, the effectiveness of LinkedIn was also influenced by how much autonomy managers gave their sales teams.
Tune in to discover if LinkedIn can truly boost your sales team's productivity and how to leverage it effectively.
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