Drawing Insights From Your Customer’s Journey (w/ Sam Bowley)

Many B2B companies could leverage data-driven insights from their customer lifecycle journey to hone their marketing strategy, improve retention, and increase revenue. The key is to think like a Rev Ops professional, even if you don’t have one on your team. Sam Bowley, an experienced Rev Ops executive, shares how B2B leaders can do this.

How They Move The Needle

Many B2B companies could leverage data-driven insights from their customer lifecycle journey to hone their marketing strategy, improve retention, and increase revenue. The key is to think like a Rev Ops professional, even if you don’t have one on your team. Sam Bowley, an experienced Rev Ops executive, shares how B2B leaders can do this.

Fundamentally, this involves 2 important components.

First, measure the performance of your Marketing, Sales and Customer Success verticals, and have a thorough understanding of it. When a customer progresses through each of those funnels, you should know the performance at each stage. 

After that, you can identify two broad cohorts of customers: those who have churned, and those who’ve retained. As a rough average, Sam advises studying cohorts of customers every 6 months to analyze this performance. When you study each group, you’re looking at a blend of firmographic and qualitative data to understand why they churned or retained. 

For example, you might discover that most customers churn around the 4-month mark after signing up or signing on with your company. To understand what might be happening to cause them to take action, you might talk with the sales team, review recorded sales calls to learn why they purchased in the first place, and talk with CS to identify any reasons why the customer left. 

If you’re an early-stage company, you might discover that one industry, in particular, retains extraordinarily well and gets more value out of your product or service. So you share that insight with Marketing, so they can refine their targeting and messaging further up-funnel. Or, you might find that of all the customers who churned 4 months in, 90% of them hadn’t gotten more than 1 person at the company to adopt your product. So you might work with your CS or Sales team to work on increasing adoption among 2 other members by month 4.

Links

• Follow Sam on LinkedIn