129: The Recurring Revenue Bow Tie Model w/ Shari Johnston

June 16, 2022 00:24:16
129: The Recurring Revenue Bow Tie Model w/ Shari Johnston
B2B Revenue Acceleration
129: The Recurring Revenue Bow Tie Model w/ Shari Johnston

Jun 16 2022 | 00:24:16

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Show Notes

Many business leaders have their goals focused largely on customer acquisition - yet this is only the tip of the iceberg when it comes to staying profitable. 

When it comes to the SaaS industry, revenue really lies beyond the acquisition stage in customer retention and expansion. Neglecting customer success and recurring impact means forgoing the often easiest opportunities for business growth and profitability. 

After all, it’s often less expensive and time-consuming to expand the relationship with a current customer than it is to acquire a new one. 

In this episode of B2B Revenue Acceleration, our host Aurelien Mottier (CEO and Co-Fou nder, Operatix) sits down with Shari Johnston (Partner & Bo ard Member at Winning by Design). 

They discuss the Recurring Revenue Bow-Tie Model, detailing what this strategy entails, the benefits of introducing it and the importance of aligning your business around recurring revenue. 

To hear this interview and many more like it, subscribe to B2B Revenue Acceleration onApple Podcasts, Spotify, our website, or anywhere you get podcasts.

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Episode Transcript

WEBVTT 1 00:00:00.960 --> 00:00:06.599 You are listening to be tob revenue acceleration, a podcast dedicated helping software executives 2 00:00:06.599 --> 00:00:10.400 stay on the cutting edge of sales and marketing in their industry. Let's give 3 00:00:10.439 --> 00:00:15.119 him to the show. This podcast is sponsored by Gong Gong and powers your 4 00:00:15.240 --> 00:00:21.440 entire go to mark your organization, but operationalizing you almost followable asset your customer 5 00:00:21.440 --> 00:00:27.359 interactions, transform your organization into a revenue machine, or unlocking reality and helping 6 00:00:27.399 --> 00:00:32.200 your people reach their full potential. Get started now at Gong dot Io. 7 00:00:32.920 --> 00:00:36.039 Hi, welcome to be to be a revenue acceleration. My name is Aldi 8 00:00:36.119 --> 00:00:40.799 Muti and I'm here today with Sharry Johnston, but no, and bod memberd 9 00:00:40.960 --> 00:00:44.880 winning by design. How are you today, Sarry? I'm great. Thanks 10 00:00:44.880 --> 00:00:48.600 for having me. Thank you so much for coming. So today we will 11 00:00:48.640 --> 00:00:53.840 be talking about the richurring revenue boat, tie bodor. I can't wait to 12 00:00:53.920 --> 00:00:57.439 hear about it. But before we get started, would you mind just introducing 13 00:00:57.520 --> 00:01:00.640 your set of Sharry, giving us a little bit of background as to who 14 00:01:00.679 --> 00:01:03.359 you as an individual, but also the company you represent, winning by design? 15 00:01:03.920 --> 00:01:10.879 Sure happy to yeah, named Cherry Johnston. I reserve former BDV CMOS 16 00:01:10.920 --> 00:01:15.040 as leader and it's several the grind startups in the last prayer to joining when 17 00:01:15.120 --> 00:01:19.480 in by design and then joined about three years ago to help spearhead our Markley 18 00:01:19.599 --> 00:01:23.400 practice and then more recently lead up our Revenue Academy. Yeah, I'm super 19 00:01:23.439 --> 00:01:30.159 passionate about helping clients achieve impact and so that shift of taking my bb fass 20 00:01:30.200 --> 00:01:37.120 experience across different startups and being able to apply that and help difference US company 21 00:01:37.200 --> 00:01:41.799 scales since then really rewarding and largely what I do today. My My side 22 00:01:41.840 --> 00:01:46.040 Gig is also a holping run a nonprofit called that I founded, called women 23 00:01:46.079 --> 00:01:49.799 in revenue, which is focused on helping elevate with it the tacket, the 24 00:01:49.840 --> 00:01:53.840 stray across market. It's that's great. That's one. Thoughtfully. Yeah, 25 00:01:53.879 --> 00:01:57.799 I'm herrying about a lot of these groups being created. You know, I 26 00:01:57.959 --> 00:02:02.159 was listening to a Bodcat Sectrios long ago, who's another ladies support seeing women 27 00:02:02.239 --> 00:02:06.799 to become bold mendels, because it's not enough about membells, and I think 28 00:02:06.840 --> 00:02:07.960 that's that's wand off. Where I'm going to get word of the girls. 29 00:02:08.039 --> 00:02:12.639 I took paratics to check that out. So today we will be talking about 30 00:02:12.680 --> 00:02:15.840 the ricurring revenue boat type BOO door. All right. So before we get 31 00:02:15.919 --> 00:02:21.479 into the topic, could you please explain to audience the concept of the model 32 00:02:21.960 --> 00:02:28.400 and and how it's comes to life with the SAS industry? Sure, yeah, 33 00:02:28.400 --> 00:02:31.280 I have stay, diardard. If we think about the BDB model and 34 00:02:31.520 --> 00:02:38.319 in what is typically a funnel approach right where we have revenue generated in the 35 00:02:38.400 --> 00:02:43.400 profits and and really focused on that close both and about time at all. 36 00:02:43.520 --> 00:02:46.879 What we really want to support it is flipping that model on its side and 37 00:02:46.080 --> 00:02:52.039 having equal, if not more, importance on the recurring revenue pro portion. 38 00:02:52.639 --> 00:02:54.479 Most of the time, when you get to close in a in a SASS 39 00:02:54.560 --> 00:03:00.240 business, you're actually not profitable. Look this marketing and sales cost are so 40 00:03:00.439 --> 00:03:05.159 high that we celebrate the clothes to so much of the degree, but is 41 00:03:05.199 --> 00:03:09.319 that really where the successes there are secret success in terms of probability really comes 42 00:03:09.400 --> 00:03:14.919 in and that reoccurring revenue that you received from your customers. So flipping it 43 00:03:15.000 --> 00:03:22.520 on its side and having a funnel equal of importance on continuing to provide reoccurring 44 00:03:22.599 --> 00:03:28.120 impact to your customers so that they do remain a profitable part of your business, 45 00:03:28.439 --> 00:03:31.960 is the real crux of a bow tie and making sure that that company 46 00:03:32.159 --> 00:03:38.080 is aligned around resources and allocation to what is most profitable and having an eye 47 00:03:38.159 --> 00:03:45.719 on that right side. Okay, so basically it's about avoiding boning catch through 48 00:03:46.000 --> 00:03:50.800 acquiring new customers dignity. Well, yeah, I think it's, you know, 49 00:03:51.319 --> 00:03:57.520 making sure that there is equal weight and tracking in of your revenue throughout 50 00:03:57.879 --> 00:04:01.439 your entire customer dirty right, if funnel approach right, just really focuses on 51 00:04:01.719 --> 00:04:09.479 acquiring new customers, not on continuing to provide them and cut impact. Continuing 52 00:04:09.599 --> 00:04:15.879 to understand how our metrics evolved into customer retention, customer expansion, which is, 53 00:04:15.960 --> 00:04:18.240 in sapt's businesses, really where the revenue is. Yeah, I'll just 54 00:04:18.399 --> 00:04:23.759 posted living in fact, we we wearing most mow and more fault client. 55 00:04:23.879 --> 00:04:27.480 Speaking about nut for vine, your retention, you get seen more from my 56 00:04:27.560 --> 00:04:30.920 existing customs that, even if it's Shawn a few which I think you know, 57 00:04:30.079 --> 00:04:34.560 Chinese, easy, invitable, right, I'll do whether they'll sticking whim 58 00:04:34.560 --> 00:04:39.639 me, investing, molding my solution. So that makes pulf make sense. 59 00:04:40.759 --> 00:04:45.399 The means to be all of those, the the the the modor impact, 60 00:04:45.480 --> 00:04:48.560 the way company said, and the Middle Enugiad be used to said, do 61 00:04:48.959 --> 00:04:53.959 you have to find any for them and didn't make some changes? Absolutely no. 62 00:04:54.040 --> 00:04:58.000 I think that, you know, the initials funnels are providing guidance for 63 00:04:58.240 --> 00:05:05.240 organizations to think about how to unify and have them or data driven revenue model, 64 00:05:05.439 --> 00:05:11.279 and we thought about conversion rates throughout the funnel. But what the boat 65 00:05:11.360 --> 00:05:15.079 I allows you to do is really think about aligning your organization not only to 66 00:05:15.399 --> 00:05:19.720 the funnel metrics to close, but what about close and expansion and and, 67 00:05:20.160 --> 00:05:25.920 as you alluded to, the networtension rates that are so important to our business. 68 00:05:26.040 --> 00:05:30.279 So so not only is it important to align your business around those growth 69 00:05:30.399 --> 00:05:33.959 metrics, not just the top of Donald to close metrics, but also aligning 70 00:05:34.040 --> 00:05:42.560 your resources and team design around reoccurring impact. We often see very under invest 71 00:05:42.639 --> 00:05:49.000 in customer success teams, customer expansion teams, less emphasis on renewal and expansion, 72 00:05:49.120 --> 00:05:55.759 which can often be the most profitable and easiest path, easiest paths to 73 00:05:55.839 --> 00:06:00.000 growth. Then on the top of the funnel and acquiring the customer. Yes, 74 00:06:00.439 --> 00:06:04.759 the good all say is probably easier to expand a relationship and carry on 75 00:06:04.800 --> 00:06:10.199 a relationship and keep a customer acquiring a new one sectually quite expensive to acquire 76 00:06:10.240 --> 00:06:15.399 a new one. So is there a specific stage? Because we also tend 77 00:06:15.519 --> 00:06:18.399 to with all the conversation while being in most of our clients. We see 78 00:06:18.439 --> 00:06:25.040 it. You've could Seri ABCDIPO, very large company and obviously people are a 79 00:06:25.160 --> 00:06:30.000 different stage of their lifestyle, of the life cycle, a different stage of 80 00:06:30.040 --> 00:06:33.800 the life cycle. They may need the difference aspect on things. I guess 81 00:06:34.079 --> 00:06:38.319 you know the model from what I'm marrying. The model is probably more for 82 00:06:38.399 --> 00:06:44.399 a sery, BCD or going anypo type of organization versus someone who is really 83 00:06:44.439 --> 00:06:47.279 starting to figure out there that good to market model and be not of customers. 84 00:06:47.920 --> 00:06:53.199 Is there? Is there a level of maturity for which you would say 85 00:06:53.279 --> 00:06:57.959 that model becoming very pertinent? And it because I'm trying to get you know, 86 00:06:58.000 --> 00:07:00.519 all the people listening to us as that. Okay, that's great, 87 00:07:00.839 --> 00:07:02.639 that makes sense. I want to control my gust. If I can be 88 00:07:02.720 --> 00:07:05.120 profitable, if I can make sure that, you know, the cost of 89 00:07:05.199 --> 00:07:10.560 setting an acquiring customer is less, is less than what the customer is baby, 90 00:07:10.600 --> 00:07:14.279 it's fantastic. We making money. Investor, would love that value of 91 00:07:14.319 --> 00:07:17.519 the company goes off because that value of me sure olding goes up. CONTASTIC, 92 00:07:17.879 --> 00:07:23.079 but the question of the stage or the question of the maturities is what 93 00:07:23.839 --> 00:07:27.279 what I'm curious about. So why? Yeah, great question and I think 94 00:07:27.319 --> 00:07:30.639 it helps companies at different stigons and your point I would a hundred percent agree. 95 00:07:30.759 --> 00:07:35.839 where the huge benefit comes into actor. You you achieved product market fit 96 00:07:36.040 --> 00:07:41.560 right and you're ready to really scale and and really acquire new customers and and 97 00:07:41.759 --> 00:07:45.519 have that reoccurring impact if you haven't had product market fit yet. We have 98 00:07:45.720 --> 00:07:49.720 had a lot of our early stage customers start out with the bow time methodology 99 00:07:49.839 --> 00:07:55.279 and rather business on that one day one you can before product market fits so 100 00:07:55.399 --> 00:08:00.920 that when they are diagnosing even early on how to scale their business, they 101 00:08:01.000 --> 00:08:05.519 have very distinct metrics that they can drive through. So, for instance, 102 00:08:05.199 --> 00:08:11.000 using usering our conversion rates throughout the funnel, you can really pinpoint where's your 103 00:08:11.279 --> 00:08:15.240 where your bunnel is leaking, where where you need to apply skills, where 104 00:08:15.240 --> 00:08:20.560 you need to apply resources so that you are getting not only to close but 105 00:08:20.639 --> 00:08:24.120 all such that reoccurring impact. And so why haven't that Base Foundation early on? 106 00:08:24.279 --> 00:08:30.240 At our customers have found it super helpful to communicate success and progress with 107 00:08:30.399 --> 00:08:33.639 our investor as well as set themselves up for success to when they do have 108 00:08:33.799 --> 00:08:39.279 product markets in and are ready to really run with it and scale that funnel 109 00:08:39.320 --> 00:08:43.440 all the way through. But they have the base foundation of systems in place 110 00:08:43.559 --> 00:08:50.960 and processes to really help accelerate that engine. Okay Akusha to should have probably 111 00:08:50.000 --> 00:08:52.720 as jolio on. How do you come up with the name? Well, 112 00:08:52.799 --> 00:08:58.559 what's the was this process being the bow tie? Well, I guess visually 113 00:08:58.759 --> 00:09:03.000 is it looks like a boat tire. So really and I'm blet see infinity 114 00:09:05.200 --> 00:09:07.840 going around cycle. I guess you know, you always go around there. 115 00:09:09.600 --> 00:09:13.960 Yeah, so you know, I think that the philosophy of the traditional funnel 116 00:09:13.120 --> 00:09:18.720 here were we're flipping it on its side and and also making equal weight to 117 00:09:18.000 --> 00:09:22.279 the retention expansion piece of it. And then, I guess and has a 118 00:09:22.320 --> 00:09:26.639 little aspect of plan a bow tie in there. So yeah, and it's 119 00:09:26.759 --> 00:09:30.399 you know, it's something, I think that that is really helping recurring revenue 120 00:09:30.440 --> 00:09:35.120 businesses and so really kind up think about that that full and in customer journey 121 00:09:35.320 --> 00:09:39.320 and in a way that's more helpful and than a traditional file. So that's 122 00:09:39.360 --> 00:09:43.240 just so. You just mentioned Gustomel Journey, which is well, what's going 123 00:09:43.360 --> 00:09:46.679 next. So I've got the fantastical, though, something as to what it 124 00:09:46.759 --> 00:09:48.759 means for in town or what you can do. Obviously the value you can 125 00:09:48.840 --> 00:09:52.279 get for your investils the village, you can ring for your cus ear force 126 00:09:52.320 --> 00:09:56.840 for yourself. Physics, time spells and because probably marketing, Bellson and everybody's 127 00:09:56.879 --> 00:10:00.919 most successful, the company's growing in order that. Can you be a bit 128 00:10:01.000 --> 00:10:03.720 more specific as to how you impact the customer? John Need and was the 129 00:10:03.799 --> 00:10:07.960 objective of the mode or from a customers ten point? Yeah, no, 130 00:10:07.120 --> 00:10:13.000 great question. And to this point we sort of talked about the bow tie, 131 00:10:13.240 --> 00:10:18.279 as it is helpful for internal planning resources purposes, for scaling. However, 132 00:10:18.559 --> 00:10:22.519 I guess equal or more enduring Jear to my heart is is using the 133 00:10:22.600 --> 00:10:26.720 bow tie to look at it from an external perspective, from the customer, 134 00:10:28.120 --> 00:10:31.480 and what we do is applying my wins that matter across the bow tie. 135 00:10:31.679 --> 00:10:35.360 So what we look at is not only is there, you know, it 136 00:10:35.519 --> 00:10:41.039 for internal proper purposes, we might call it conversion rate one, the conversion 137 00:10:41.159 --> 00:10:48.360 rate to so hands on lead become a qualified appointment. Not Not Super Sexy 138 00:10:48.440 --> 00:10:52.639 and not super interesting, but for a customer standpoint, the moments that matter 139 00:10:52.039 --> 00:11:00.279 maybe that you have developed an amazing online demo that is enticing the customers and 140 00:11:00.440 --> 00:11:05.919 connecting to replevant details that are impactful to that and that is a huge moment 141 00:11:05.159 --> 00:11:09.000 in the particular life cycle for them in the bow tie. And so we 142 00:11:09.120 --> 00:11:15.360 were we teach in our recurring revenue courses may on not only how to apply 143 00:11:15.559 --> 00:11:18.440 these metrics to the bow tie but also how to look at it from the 144 00:11:18.519 --> 00:11:24.200 extra customers point of view and apply these moments that are really moving your customers 145 00:11:24.000 --> 00:11:28.080 through that journey. That's that's the acquisition felt right and I think the big 146 00:11:28.120 --> 00:11:33.480 pot of the model is that trickering venue and expansion and reviewers. So we 147 00:11:33.600 --> 00:11:39.960 did translating moments that you expecting customers success his team to to lead, you 148 00:11:41.039 --> 00:11:45.840 know was involved in actually bring me to life and appreciate that it's probably a 149 00:11:45.879 --> 00:11:48.480 diffusion because each clients of feels may be different, but we would, you 150 00:11:48.559 --> 00:11:54.159 say, is the best group to actually debread that strategy and and could you 151 00:11:54.240 --> 00:11:58.279 give a small example of this moments that you are creating? I love the 152 00:11:58.360 --> 00:12:01.720 concept. I think you when you create this moment, as you create an 153 00:12:01.720 --> 00:12:05.600 emotional attachment to create something. I think it's important to think about them. 154 00:12:05.840 --> 00:12:09.519 I think it's important to scale them and I think it's important to not lead 155 00:12:09.600 --> 00:12:13.320 it to a good account manager or a good customer success spell said, or 156 00:12:13.519 --> 00:12:18.639 good insight says or a good sets gay to their own. I think it's 157 00:12:18.679 --> 00:12:22.360 important to tell them look after streemones, you should do that, you should 158 00:12:22.399 --> 00:12:24.600 shack in if we've got an initially this is what we do. So in 159 00:12:24.720 --> 00:12:28.639 time of on all ship and maybe more example of the moments about the course. 160 00:12:30.000 --> 00:12:31.799 Could you tell us a little bit more about that? Yeah, absolutely, 161 00:12:31.960 --> 00:12:37.240 and you know you chucked on something that is absolutely something that customers struggle 162 00:12:37.320 --> 00:12:43.519 with. Your rule in this supportient problems that matter across the entire customer journey. 163 00:12:43.879 --> 00:12:46.399 There isn't x clear. Oh it's always owned by x Y, and 164 00:12:46.519 --> 00:12:52.080 see that very much changes. This is a very overused example, but I 165 00:12:52.279 --> 00:12:56.080 think in the BC world we often think about a great company that has done 166 00:12:56.080 --> 00:13:01.679 an amazing job of having moments that matter across the entire customer experience. Is 167 00:13:01.720 --> 00:13:05.200 Apple. Right there. They're cut, their products are incredibly easy to use. 168 00:13:05.279 --> 00:13:09.600 The moments that matter. You Open the phone and you have hello and 169 00:13:09.720 --> 00:13:15.240 bunch of different languages. You open the packaging and it's amazing experience as well 170 00:13:15.320 --> 00:13:18.879 as the stores are just have a very different approach to helping you buy somethings 171 00:13:18.919 --> 00:13:22.000 that I had in the store. You don't have to good of cauterister source. 172 00:13:22.000 --> 00:13:26.440 So they created all these moments that matter, but it really creates required 173 00:13:26.720 --> 00:13:31.840 their organization to be set up to someone, you know, ste jobs in 174 00:13:31.879 --> 00:13:35.279 this case, having a vision of those moments that matter over the entire in 175 00:13:35.399 --> 00:13:43.200 our product customer packaging, in person customer experience. So applying that same lens 176 00:13:43.519 --> 00:13:48.080 to agree b cycle in. The customers that we've seen do it successfully either 177 00:13:48.200 --> 00:13:54.440 just have great collaboration between their C sweets, so cro CMO and chief customer 178 00:13:54.519 --> 00:13:58.840 officer, or, you know, there is someone like the CEO who's very 179 00:13:58.879 --> 00:14:03.039 involved and passionate about that entire customer journey. Could help be that architect of 180 00:14:03.399 --> 00:14:07.360 how do we really understand a little bits that matter to our customers and how 181 00:14:07.360 --> 00:14:13.360 do we improve that so that they don't just have an amazing customer experience at 182 00:14:13.519 --> 00:14:18.120 one part of the bow tie but lagged in another end and that that could 183 00:14:18.360 --> 00:14:22.759 very much be the reason that they're not really little more providing that what we 184 00:14:22.840 --> 00:14:28.399 call reoccurring impact that's good and in some of the consistency, because I'm probably 185 00:14:28.559 --> 00:14:33.200 to see you that you know, you just mentioned like literally twenty seconds ago, 186 00:14:35.360 --> 00:14:39.919 repassionate about custom mel, Johnny. And you know what, will we? 187 00:14:39.039 --> 00:14:41.960 I believe we can be perfect. Everyone you know, and some things 188 00:14:43.039 --> 00:14:46.240 we still bring customers display of fact we make any fault in finding the rate 189 00:14:46.320 --> 00:14:48.440 when we may find someone that's not the right feet, for some reason things 190 00:14:48.480 --> 00:14:54.360 don't walk out. I'm a big Benevo that even if people don't enjoy something 191 00:14:54.600 --> 00:14:58.519 or whatever, you want them to almost feel nostalgic about the fancies that being 192 00:14:58.600 --> 00:15:03.159 walking. Know you at least you want them to think good. You know 193 00:15:03.240 --> 00:15:05.480 what, if I had to make a decision again, I would, I 194 00:15:05.519 --> 00:15:07.159 would, I would do the same and I would go with those guys right 195 00:15:07.320 --> 00:15:11.159 and and, but maybe something else thought walked out or whatever. One of 196 00:15:11.279 --> 00:15:13.600 the should I face, and I'd love to go through to sell this business 197 00:15:13.639 --> 00:15:18.080 to see if we, if you're but a model orso make sense for service 198 00:15:18.200 --> 00:15:20.480 is for service businesses. But one of these should, I think, is 199 00:15:20.720 --> 00:15:28.240 is we face in scaling organization is keeping it consistent. So where does the 200 00:15:28.240 --> 00:15:33.559 process leave? Would it be CR we did be how do you get this? 201 00:15:33.799 --> 00:15:37.960 Remind us for the moments and how do you because I guess you kind 202 00:15:37.960 --> 00:15:39.679 of need to remind people. It's okay if you measure what or two customers, 203 00:15:41.519 --> 00:15:46.440 if you manage twenty, thirty, forty. So what does the process 204 00:15:46.559 --> 00:15:50.440 leave? What would you suggest to your clients to make it leave? Yeah, 205 00:15:50.519 --> 00:15:54.159 that great question and it must are common, you know, realistically, 206 00:15:54.639 --> 00:16:00.960 for the size of organizations that were helping with, which are usually two hundred 207 00:16:00.080 --> 00:16:04.799 people in above SAS start up stutters are scaling quickly, the single point of 208 00:16:04.840 --> 00:16:08.600 failures difficult, right. So we need to move beyond the CEO really into 209 00:16:08.720 --> 00:16:14.919 the sea sweet. So that requires alignment across the executive go to market executive 210 00:16:15.000 --> 00:16:19.000 team to really have that Voice of the customer in integrated into the way that 211 00:16:19.120 --> 00:16:22.440 they operate. And you know, I think the the key to it is 212 00:16:22.519 --> 00:16:26.360 just really listening. You know, I guess I can more passionately talk and 213 00:16:26.600 --> 00:16:32.480 more specifically talk about my own company where I own our Revenue Academy, and 214 00:16:32.559 --> 00:16:37.720 so I to listen all the time to trying to understand what is standing out 215 00:16:37.039 --> 00:16:41.080 to our customers. That is there all hall moments. Is Part of the 216 00:16:41.159 --> 00:16:48.000 training that they get, between emails, training, engagements, certificates, etc. 217 00:16:48.480 --> 00:16:52.879 Probably a hundred and fifty different touchpoints that they end a that they get 218 00:16:52.120 --> 00:16:56.799 from us, but only some of them are super impactful to them. That 219 00:16:56.960 --> 00:17:00.279 really deep an impression, and so I think for me it's in and most 220 00:17:00.320 --> 00:17:04.480 of our customers it's really keeping that inert to the ground and really understanding what 221 00:17:04.720 --> 00:17:08.279 stands out to the customer. So for our customers as well as my own 222 00:17:08.400 --> 00:17:14.799 process, I recommend we agree, we read all Urg to grap reviews in 223 00:17:14.960 --> 00:17:18.680 great detail. What are people saying? What stands out in our keys? 224 00:17:18.720 --> 00:17:22.440 People love that we have freeing works that we teach against in our training, 225 00:17:22.559 --> 00:17:26.519 and so that really stands out to them because it provides that ability to retain 226 00:17:27.200 --> 00:17:30.759 the information that they have in their training. The other thing that stands out 227 00:17:30.880 --> 00:17:37.359 to them is that we are traitors use like very progressive technology to help train 228 00:17:37.440 --> 00:17:41.960 them, using light and words and digital engagement tools, since we're all remote. 229 00:17:41.039 --> 00:17:45.319 So those are the things that I listen for and and try to make 230 00:17:45.359 --> 00:17:48.119 sure that, to your point, that there's consistency and in those in those 231 00:17:48.200 --> 00:17:52.039 moments that matter across all of the team. It is a little bit of 232 00:17:52.079 --> 00:17:56.359 a challenge to get everything consistent. But if we at least get those real 233 00:17:56.480 --> 00:17:59.640 moments that matter and make sure there's consistency in that, in the things of 234 00:17:59.680 --> 00:18:03.079 our mean the greatest impact on our customers actually go a long way. Okay, 235 00:18:03.319 --> 00:18:06.720 so that's, I guess what was about to ask you. The question 236 00:18:06.839 --> 00:18:11.759 how would you translate the model into a selvice business? Is that so feel 237 00:18:11.839 --> 00:18:14.599 you think? I mean, I guess you are doing it for your Si 238 00:18:14.720 --> 00:18:17.640 Fin. Technically you guys our helf his business rights. Yeah, and it's 239 00:18:17.680 --> 00:18:19.599 a great question. And you know we don't have a real you know, 240 00:18:19.880 --> 00:18:25.079 we're not as SASS business. We are are a services business that that serves 241 00:18:25.119 --> 00:18:29.359 as sauce companies. But you know, I liked that you do you propose 242 00:18:29.440 --> 00:18:33.559 this question because I think you know we're we're challenging ourselves with this. The 243 00:18:33.720 --> 00:18:37.680 same idea of Hail. We focusing too much on the cloth with even if, 244 00:18:37.680 --> 00:18:41.200 though, we don't have a subscription model, the idea of goes back 245 00:18:41.359 --> 00:18:45.759 to that reoccurring impact. How can we provide reappring impact so we do have 246 00:18:47.440 --> 00:18:51.519 more longevity with our customers, and that's the key to it, whether it's 247 00:18:51.759 --> 00:18:56.119 a subscription or or not. If we're providing all going impact for our customers, 248 00:18:56.200 --> 00:18:59.880 are going to one stay with us. So it's up to us to 249 00:18:59.960 --> 00:19:03.240 figure out. We know, how do we make sure that we can continue 250 00:19:03.240 --> 00:19:10.079 to after that training or after that consulting engagement, continue to provide value to 251 00:19:10.160 --> 00:19:14.759 our customers so that we have equally that right side of the boat tie and 252 00:19:14.880 --> 00:19:18.519 our services business. Yeah, one last question for you, Sherry. I 253 00:19:18.599 --> 00:19:21.480 think I'll businesses are for limited. It did, ever, bring a different 254 00:19:21.519 --> 00:19:25.920 limit of service, but probably to the same group of people in the same 255 00:19:25.960 --> 00:19:30.400 industry. We serving the same clients. Always were looking at charms because, 256 00:19:30.559 --> 00:19:34.480 like you, will lose. We lose a clients we want on Duston hy 257 00:19:34.960 --> 00:19:41.319 okay, so we classified Chum and and I was wondering if there is a 258 00:19:41.400 --> 00:19:47.759 notion of classification of charm in the revenue both a model. So when I'm 259 00:19:47.799 --> 00:19:51.839 saying by that that I think there is two categories of charm from high level 260 00:19:51.960 --> 00:19:56.079 perspective, which are what's in our control and what's outside of our control. 261 00:19:56.440 --> 00:20:02.039 Okay, so for you and I, we probably are working with the most 262 00:20:02.680 --> 00:20:06.039 not volatile, but if I was technology, I who are going fishing, 263 00:20:06.079 --> 00:20:08.160 we probably a fishing tunas you know, when some of the people would be 264 00:20:08.240 --> 00:20:11.839 fishing whales or big of fish, we're fishing the web. That go very 265 00:20:11.920 --> 00:20:15.519 quick, that quite small Le Goal very quick and are lots of them. 266 00:20:15.920 --> 00:20:18.960 And why is? It can be very rewarding to catch chin out. Devolved 267 00:20:19.079 --> 00:20:23.240 very quickly and in fact, you know, I think last yeah, it 268 00:20:23.519 --> 00:20:29.039 was pretty much thirtaty of our clients. So I think salty a lot of 269 00:20:29.160 --> 00:20:32.759 hundred and forty or whatever that we started with at the beginning of the year. 270 00:20:33.039 --> 00:20:36.480 They just got a quiet, they got a cowld and we only manage 271 00:20:36.480 --> 00:20:40.880 to stay walking with five of them. Okay. And why? Because sometimes 272 00:20:40.920 --> 00:20:44.319 you've got an acquisition, people say, okay, carry on as normal for 273 00:20:44.480 --> 00:20:47.880 six months a year. We don't that sort of people just replace you and 274 00:20:47.960 --> 00:20:49.759 then you've got the other are bit more little. Well, it's all right, 275 00:20:51.240 --> 00:20:52.839 see you later, guys. We just wanted the technology of the clients. 276 00:20:53.279 --> 00:20:56.519 Now you move on it. In fact, you know, everything that 277 00:20:56.720 --> 00:21:03.440 is a spin of marketing or says improvement and things like that could be cut 278 00:21:03.519 --> 00:21:06.720 off pretty quickly. And it's funny because sometimes they come back to month, 279 00:21:06.799 --> 00:21:08.160 six months later, but it still get off a shot. And then the 280 00:21:08.240 --> 00:21:12.720 reacquisition of a new company, technically so, but without going in too much 281 00:21:12.799 --> 00:21:17.359 detail. Is there all consideration of them, if you can? Could it 282 00:21:17.440 --> 00:21:22.359 the quality of showw the the classification of Chun in in the modul or do 283 00:21:22.480 --> 00:21:26.119 you see such company and Services Company going in to that sort of trying to 284 00:21:26.240 --> 00:21:30.799 reallyunderstand and classify the Choun to do something about it, because I believe that 285 00:21:30.319 --> 00:21:33.319 it's a very wrong question at I'm asking you. I should have thought about 286 00:21:33.319 --> 00:21:37.440 it before, but I to believe that if you want to increase retention, 287 00:21:37.599 --> 00:21:41.559 do all the great stuff that you've got in the room that we discuss about 288 00:21:41.599 --> 00:21:45.240 the revenue both a model. The essence is, although something why you using 289 00:21:45.319 --> 00:21:48.440 glance in the first space if you are losing some right? Yeah, I 290 00:21:48.519 --> 00:21:52.279 know, I mean, I think it. There's definitely nuances and and churn 291 00:21:52.640 --> 00:21:57.359 in our companies can be, you know, an average church for company servicing 292 00:21:57.519 --> 00:22:03.039 as and B is different than Churn Servicing Enterprise, which I think is what 293 00:22:03.119 --> 00:22:07.960 you're getting at. And going back to it, it is still around hays 294 00:22:08.119 --> 00:22:12.079 or ways, even though because I with you and we have maybe the accosition 295 00:22:12.359 --> 00:22:18.839 isn't quite as common for US ins exactly the churn right the exact that our 296 00:22:18.960 --> 00:22:23.319 champions chart on cop common race as complic there's a very provolving door of I 297 00:22:23.480 --> 00:22:27.839 know pet leader Cros going to other places and so but there are things we 298 00:22:27.960 --> 00:22:32.880 can do about it, like, again going back to reaccurring impact. If 299 00:22:32.960 --> 00:22:37.079 we're if we're better multi threaded within organizations to make make sure that we were 300 00:22:37.160 --> 00:22:42.759 not single threaded with our champion, that we are providing indeed reoccurring impact to 301 00:22:42.880 --> 00:22:51.240 then regardless of the executive, we still have the ability to impact that particular 302 00:22:51.519 --> 00:22:53.720 turn in some cases. Yet of course there's there's some that are just going 303 00:22:53.720 --> 00:22:57.960 to be inevitable. But what you keeping are your to the ground of understanding 304 00:22:59.160 --> 00:23:03.079 why? What could we do about it? Even with these anomalies that happen 305 00:23:03.279 --> 00:23:07.000 in the business, has helped improve turn in our customers and our own business 306 00:23:07.079 --> 00:23:10.680 as well. But US will go for thank you so much for you in 307 00:23:10.759 --> 00:23:14.519 sight. shorry. I'll bring under the conversation now if anyone listening to us 308 00:23:14.640 --> 00:23:18.079 once to pulls you the conversation with you. All you know on Gage, 309 00:23:18.119 --> 00:23:19.720 we's winning by design and was the best way to get told of you. 310 00:23:21.240 --> 00:23:23.759 Yeah, sure, you know. I'm available on linked in. Feel free 311 00:23:23.799 --> 00:23:27.839 to follow me, or winning by designs great content than our T hoast on 312 00:23:29.000 --> 00:23:33.000 helping with adoptable time model and reagreeing revenue in general, or if you reach 313 00:23:33.039 --> 00:23:37.960 out to me directly, it's as AH ARII as winning by signedcom that's Fund 314 00:23:38.000 --> 00:23:41.440 off who we thank you so much for coming on the show today. Thank 315 00:23:41.480 --> 00:23:47.119 you. You've been listening to be tob revenue acceleration. To ensure that you 316 00:23:47.240 --> 00:23:49.920 never miss an episode, subscribe to the show in your favorite podcast player. 317 00:23:51.519 --> 00:23:55.720 Thank you so much for listening. Until next time. This podcast is sponsored 318 00:23:55.759 --> 00:24:00.359 by going. GOING IMPOW is your entire go to mark your organization by Operationalizing 319 00:24:00.759 --> 00:24:07.440 Your Most Valuable Asset, your custom interactions. Transform your organization into a revenue 320 00:24:07.480 --> 00:24:11.880 machine by unlocking reality and helping your people reach their full potential. Get started 321 00:24:12.000 --> 00:24:14.480 now at Gong Dot I o

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