The world is changing … again!

In the natural world there are, periodically, significant “tectonic” shifts—earthquakes, meteors, climate changes—that alter the entire atmosphere and redefine what is needed for survival in the surrounding environment. In response, organisms must find ways to evolve and be successful again. This Darwinism of the natural world has parallels in modern business as well, what we might call “Digital Darwinism.”

Digital Darwinism has created a convergence of tectonic shifts, evolutionary forces and trends. Businesses today are rapidly adapting to disruptive changes, such as the introduction of:

  • Big data analytics
  • Cloud-delivered apps and infrastructure
  • The Internet of Things (IoT)

These forces are influencing everything about our business environment right now. But what’s even more interesting is how companies are responding to these forces. In other words, how companies are adapting in order to not only survive, but thrive.

Leading businesses are embracing new evolutionary adaptation trends, such as:

  • The empowered customer
  • Industry integration
  • Subscription-based business models

These trends have reinvigorated the focus on the customer experience and customer success. Organizations are adopting a vigilant approach to delivering customer value and business outcomes. In an outcome-driven world, one size definitely does not fit all; however, there are ways to accelerate your customer success evolution, which we’ll cover in our customer success evolution webinar, but here are five:

    1. Track your Evolution
      Utilize a Revenue Lifecycle Management framework and maturity model to benchmark where you are today. It is important to first assess your current capability maturity in managing the entire revenue lifecycle. This will help you understand the biggest gaps in your current processes, as well as the greatest opportunities for improvement and help you prioritize innovations.
    2. Outline Business Outcomes
      Create a customer-facing success roadmap that clearly outlines business outcomes for each of your solutions. This roadmap should detail the actions your customer must complete in order to reach value milestones and achieve an optimal return on their investment.
    3. Map the Customer Journey
      Create a customer journey map that covers the entire revenue lifecycle. A customer journey map (CJM) will help you become even more customer-focused and eliminate functional silos. A CJM provides a visual view of the entire customer lifecycle—from both your customer’s perspective and your internal touchpoints.
    4. Capitalize on Big Data
      Create a data-driven Revenue Lifecycle by reevaluating your customer data and how it can be used to trigger customer engagement. Take advantage of usage data or things like usage data to get a better understanding of how your customers are utilizing your products and services. Equip your employees, customers and channel partners with self-serve access to information that will help them achieve business outcomes faster.
    5. Continuously Innovate
      Continuously innovate to improve processes and lower the cost to serve while growing revenue faster. Evolution is only possible if you create a culture of innovation that embraces change. This requires adopting the right key performance indicators (KPIs) and process mapping. That which gets measured, gets managed!

Adapting to subscription business model trends requires more than creating a customer success team. Keep all of your customer-facing teams focused on delivering business outcomes and you will retain more customers and ultimately increase customer lifetime value.