How fast do you help customers achieve success with your solution? If customers aren't achieving a win in the first few weeks of using the tool, you're doing something wrong.
The Nearbound Daily is now officially the ELG Insider Daily!
Welcome to the ELG Insider Daily—the #1 newsletter in the world keeping thousands of GTM professionals on top of the latest Ecosystem-Led principles, tactics, and trends. Join the movement here.
PRINCIPLES
The psychology of quick wins
In 1938, B.F. Skinner, a behavioral psychologist, wrote that we are driven or incentivized to act based primarily on three environmental events: deprivation, satiation, and aversive stimulation.
His incentive theory proposes that we are pulled into action by outside incentives, rather than internal incentives.
Positive external incentives look like rewards. Negative external incentives look like the avoidance of punishments.
This might be a psychological explanation of why time-to-value is so important.
Time-to-value measures the amount of time it takes your new customers to get value from your product or service.
If you want customers to continue paying for your solution, you need them to associate positive feelings with your solution.
Feelings like:
- Validation that the tool was a good purchase
- Departmental alignment
- Kudos from your higher ups
Support customers to get quick wins. It'll build trust and boost morale.
TACTICS
Help customers achieve success faster
How fast do you help customers achieve success with your solution?
If customers aren't achieving a win in the first few weeks of using the tool, you're doing something wrong.
A few years ago, Mike Stocker shared Rollworks' Crawl-Walk-Run approach to helping their customers achieve success.
That method is still incredibly relevant, so we will resurface it in today's email.
The method breaks down like this.
Step one: Crawl
Achieve the customer’s primary business objective (For example, perhaps you’re helping the customer qualify a number of opportunities through your platform).
Step two: Walk
Extend the primary use case further (Now, you help the customer multiply the amount of opportunities they’re qualifying through your platform with the help of an integration that provides greater insights into the corresponding accounts).
Step three: Run
Expand the customer’s use cases through more advanced tactics (Now, you help the customer scale the opportunity qualification process by helping them adopt more integrations that can build on the customer’s expertise in your platform). This is typically when a RollWorks customer transitions from an OSM to a long-term customer success manager (CSM).
MEME OF THE DAY
Partner pros...
UPCOMING EVENTS
ELG Con London 2024
Join us at our first official event as a unified company! Get your early bird discount to ELG Con London 2024 here!
Stuff you don't want to miss!
- July 10th—The Partnership Death Cycle and How to Avoid it—Scott Pollack (CEO at Firneo) will share the biggest challenges keeping partnership professionals up at night. By the end of the webinar you will know exactly how to overcome your daily challenges and what steps you need to take to put your partner program and career on the fast track. Register here.
You're all caught up
See you tomorrow
If this email was forwarded to you, sign up here to get the newsletter every week.
