Case study
Create a winning CLV strategy

Creating a customer lifetime value strategy to prioritise development of customer success initiatives

Background and the problem

A Finnish provider of B2B marketing services was suffering from low customer satisfaction and increasing churn. The client had identified several issues in the onboarding process as well as how existing customers received customer care. However, there was no shared understanding of what the current customer success activities were, which customers received what activities, and even who was responsible for what internally.

Key outcomes

1.
Collected customer needs, business goals and customer success activities in one single strategic view of Customer Lifetime Value management

2.
Identified and prioritised key improvement areas and initiated further data analyses to improve CLV

3.
Identified key capabilities that need to be developed in order to systematically improve CLV

Approach

Phase 1

Defined the customer journey stages, as well as customer’s needs for each stage. Then added the client’s business goals in each stage, as well as metrics to measure success of CLV management in each stage.

Customer journey

Phase 2

Listed the current and potential customer success activities conducted in each customer journey phase, along with which functions are responsible for which activities. Identified the capabilities needed to develop and operate customer success activities. Created a shared map of CLV management including the customer journey and customer success activities.

CLV activities

Phase 3

Identified the biggest gaps in customer success based on customer feedback, NPS measurements and internal analysis. Prioritised development roadmap for current and new customer success activities.

Phase 4

Based on the prioritised roadmap, we piloted and tested new customer success concepts to improve customer experience in specific parts of the customer journey.

Snapshots from the project

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Outi
Herkepeus

BUSINESS ADVISOR
outi@bellrock.fi

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