CX strategy 2024
👁️ Mission
To educate, guide and motivate customers to gain the full value of using GlobalVision quickly, in a personalized and predictive manner; fueling their success.
BHAG (Big hairy audacious goal): “Support is built in but hardly ever needed”
Strategy
The Diagnosis:
In 2024 CX must undergo the radical shift from a reactive and passive state to a proactive Net Revenue Retention (NRR/NDR) driving function to set us up for success for our company-wide Mission 2026.
Current Challenges:
Reactive and Passive state operationally
Innovation and Execution
Data and insights
Efficiency
Team and individual experience levels
Collaboration and Strategic Planning
Under funded function against SaaS industry average (as a % of revenue allocated)
Tenets:
Baselines must be established early
Data and actionable insights are CX’s kryptonite today. We must establish key metrics and their baselines by mid Q2 latest, to provide a long enough runway for improvements through rest of year
Change management and engagement is essential
Each team member must be open to and eagerly contributing to the changes required. Everyone must be “all in”
We must have support from the entire organization
Learn fast and win together
There are many ‘big bet’ initiatives that must be deployed and iterated on rapidly as we gain learnings
Strong collaboration is critical as there are many dependencies across CX teams and other functions to deliver
Strong accountabilities will be held
Do more with less
CX headcount overall will remain virtually unchanged (just one new hire)
We will not be deploying substantial new tooling
We will remain extremely lean through 2024 as we establish stronger foundations and traction on our objectives
Outside of exceptions, all customers will reach value quickly and with ease using GV quickly and effortlessly by end of year. We will launch a tiered approach Q1 and gain baselines by Q2, driving improvements through end of year. We will increase efficiency and scalability via automations and AI enablement.
We will measure how difficult customers feel the onboarding process is (how much effort on their part is required), establish current baselines in Q1, and drive improvements through end of year. By migrating from Netsuite to Salesforce by end of Q2 we can accurately track onboarding events and overall % completion.
CX proactively drives customer success enabling expansion and renewal growth using strategic playbooks. Tier 1 and 2 customers will gain VIP white glove support from point of sale through renewals in a highly personalized and strategic manner, emphasizing engagement, growth and multi-year renewals with predetermined uplift. Tier 3 will add more automation, AI enablement, 1:few and 1:many content and communication that nurtures them through each critical milestone in a more scalable fashion.
CX will become highly efficient and more data led, allowing the team to deliver more value with less ‘cost to support’ ratio overall. This is critical to achieve all objectives in a lean fashion while still able to support EU expansion. There are many missing data points critical to get CX to ‘leading’ in 2024 and heavy reliance on IS and Data infrastructure.
Lastly CX will bring the voice of the customer internally into all we do, with close collaboration, so our customers trust us and our expertise, and feel their voice matters. This includes influencing the product roadmap, compiling quantitative and qualitative feedback that is actionable, and getting closer to our tier 1/target accounts.
Closing Thoughts
CX can not take on more than what is planned. We will need to focus and deliver. It will be an extremely challenging year given the large transformation planned with the existing team.
We will also review ‘right seat on the bus’ to align current skills and motivations to maximize individual and team engagement, to achieve desired outcomes.
OKRs
Objective | Key result | Baseline | Top 3 Initiatives |
|---|---|---|---|
Customers reach value quickly with ease | Value metric defined with baseline | TBD |
|
% Reduction time to Value | TBD | ||
Customer Effort Score (CES) 8/10 or greater, with min 15% response rate | TBD | ||
>95% customers fully onboarded | TBD | ||
CX proactively drives customer success enabling expansion and renewal growth | NRR >120% | 115% |
|
Health Score >7/10 | TBD | ||
>88% Logo retention with >x% multi-year | 83% with x% multi-year | ||
Customers trust us and our expertise, and feel their voice matters | NPS >20 | 8 |
|
>3 product features coming directly from formal VOC | not tracked currently | ||
>50% Top tier + Target accounts engaging in collaborative activities | not tracked currently |
Key Initiatives Roadmap
