ON TODAY'S EPISODE:
Setting up a variable compensation plan for Customer Success Managers (CSMs) is fraught with challenges. In this week's episode of Impact Weekly, Johan and Lincoln dive deep into the intricacies of variable comp plans. They discuss the potential pitfalls, share effective strategies, and emphasize the irreplaceable role of leadership in motivating CSMs.

THIS WEEK'S QUESTION: "What's the best approach for a variable comp plan for a Customer Success Manager?"

TOPICS BEING ADDRESSED:

• The challenges and pitfalls of variable compensation plans in Customer Success.
• Effective ways to structure incentives for Customer Success Managers.
• The importance of leadership and management in motivating and guiding Customer Success teams.

QUOTES:

1. Johan Nilsson (00:01:22): "Anyone out there who's been trying to set this up knows it is and can be a challenge. And there's many ins and outs to this one."
2. Lincoln Murphy (00:05:35): "In Customer Success Management, variable comp often means, 'I'm going to pay you 70 percent of your salary, and you better do your job or you're not going to get the other 30 percent.'"
3. Lincoln Murphy (00:07:1`): "In Customer Success, variable comp is generally positioned as a threat. It only has downside potential."
4. Johan Nilsson (00:10:42): "I've seen variable comp plans that incentivize CSMs to only work and maybe even push upgrades on customers that aren't ready, while ignoring those who need more attention."
5. Lincoln Murphy (00:15:12): "You pay them their market rate salary and you can bonus them on other stuff. That's called being a manager. That's called being a leader."

Do you want more of this? Check out Impact Academy for interactive Customer Success training programs. https://www.impactdemy.com/

Do you have a question you want us to answer? Submit it here.

Retention training starts June 17, 2024. Learn more and sign-up here:
https://www.impactdemy.com/courses/copy-of-the-retention-program-us-oct-24

ON TODAY'S EPISODE:
Customer churn is a critical issue that can impact a company's growth and stability. In this week’s episode of Impact Weekly, Johan and Lincoln dive into the essential metrics for predicting churn and discuss effective strategies to mitigate it. They share insights on understanding customer behavior, proactive engagement, and how to communicate potential churn risks to management.

THIS WEEK'S QUESTION:

"Can you summarize the key indicators for predicting churn in advance?"

TOPICS BEING ADDRESSED:

• The importance of understanding key indicators for predicting churn
• Strategies for addressing and mitigating lagging churn
• Effective communication with management about potential churn issues

QUOTES:
Lincoln Murphy (02:50): "Meaningful usage is the main thing to look at when predicting churn."

Johan Nilsson (04:32): "Stakeholder changes are a massive indicator that churn could be on the horizon."

Lincoln Murphy (06:45): "Proactive engagement with customers can significantly reduce the risk of churn."

Johan Nilsson (09:20): "The iceberg metaphor helps illustrate the hidden risks beneath the surface of current churn rates."

Lincoln Murphy (13:52): "Our daily work in Customer Success is crucial to ensuring long-term customer retention."

Do you want more of this? Check out Impact Academy for interactive Customer Success training programs. https://www.impactdemy.com/

Do you have a question you want us to answer? Submit it here.

Customer Advocacy training starts June 10, 2024. Learn more and sign-up here:
https://www.impactdemy.com/courses/the-advocacy-program-eujun24

ON TODAY'S EPISODE:
Unlock the power of real, enthusiastic customer advocacy. This week on Impact Weekly, Johan and Lincoln explore the strategies to turn your customers into your most potent marketing force. They lay down the importance of a systematic approach to advocacy, tracking, and making data-backed asks to cultivate authentic customer champions.

THIS WEEK'S QUESTION:
“How can customers see the value in being advocates? What's in it for the customer?”

TOPICS BEING ADDRESSED:

• Setting the stage for advocacy through "orchestration"
• How tracking advocacy influences can be leveraged for future asks
• Graduated Advocacy Asks: Making increasingly impactful requests over time

QUOTES:
Lincoln Murphy (18:00): "When you get to that point, the ask goes over much better because it's expected."

Johan Nilsson (19:00): "We need to keep track of that referral process, not just for our sake but to better our advocacy ask later."

Lincoln Murphy (20:00): "By reminding them how important unbiased reviews were to them, you make them want to share their story."

Lincoln Murphy (21:00): "We're having larger, more intense asks over time, and that's invoking consistency and commitment."

Johan Nilsson (22:00): "You need to operationalize this to get advocacy going. It's not just about asking; it's about setting things up."

Do you want more of this? Check out Impact Academy for interactive Customer Success training programs. https://www.impactdemy.com/

Do you have a question you want us to answer? Submit it here.