Driving Growth Through Retention and Expansion (and How AI can Help)

Driving Growth Through Retention and Expansion (and How AI can Help)

Released Friday, 24th January 2025
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Driving Growth Through Retention and Expansion (and How AI can Help)

Driving Growth Through Retention and Expansion (and How AI can Help)

Driving Growth Through Retention and Expansion (and How AI can Help)

Driving Growth Through Retention and Expansion (and How AI can Help)

Friday, 24th January 2025
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0:16

Matt: All right. Welcome everybody to another episode of sales pipeline radio.

0:20

I'm your host, Matt Heinz. So excited to have you here as we are well into the second half of January, 2025,

0:27

can't believe it's going by so quickly.

0:29

Hope many of you out there are staying warm and off to a

0:33

great start for the new year. If you're watching this episode live on LinkedIn or YouTube, we're really

0:38

excited to have you here today. You can be part of the show.

0:40

If you want to join us and make a comment, you can have a comment, a question,

0:44

a rebuttal, a rant, it all counts.

0:47

If you've got something to share, please do so in the comments.

0:50

We will see those. We can reference those. We can bring those up on screen as well.

0:54

Make you part of the show. So thank you very much for being part of this.

0:56

If you're listening or watching on demand, very excited to have you here.

1:01

Thank you so much for downloading and listening to the show.

1:04

Every episode of Sales Pipeline Radio can always be found past, present,

1:07

and future on salesPipelineRadio.com.

1:10

Very excited to have with us today our guest, the Founder and CMO

1:14

of Bold GTM, Anastasia Pavlova.

1:16

Anastasia, thanks so much for joining us. Anastasia: Thank you.

1:19

It's been a quite a pleasure, Matt.

1:22

I'm a big fan. I've known you for over a decade now and a big part of the CMO Community.

1:29

So really looking forward to this conversation.

1:32

Matt: I appreciate you being here. There's so many things we could talk about going way back to even

1:37

marketing automation, Marketo days, there's so many things we can do.

1:40

We try to keep these 15, 20 minutes. A couple of things I really want to focus on.

1:43

And one of those is B2C lessons for B2B.

1:47

I think there's so many things we just kind of take for granted as the

1:50

precedence of how we do B2B marketing.

1:52

You've got quite a background in the consumer space.

1:56

And we'd love to have you unpack a little bit of some of the lessons

1:59

that you still carry today around how B2C marketing success has

2:04

impacted you on the B2B side as well.

2:07

Anastasia: Yeah, thanks for this question. So I did start my career almost 20 years ago in B2C Tech and it was before

2:15

marketing automation and those lessons are very relevant today because it sort

2:20

of takes us back to the fundamentals.

2:22

It's putting customers first at the center is really understanding their

2:27

needs and pain points and focusing on retaining those customers first

2:32

and driving the the customer value.

2:34

And you can only do that if you understand the customer needs and really then use

2:39

creative marketing tactics to engage them.

2:42

So I think those are some of the most important lessons.

2:46

Matt: As much as we struggle so much in B2B with data and with reporting

2:50

and attribution, it often feels like our consumer marketing counterparts

2:56

are just so much further ahead than we are in terms of leveraging data

3:00

to create insights and next steps. What are some lessons from the consumer world you think can be

3:05

translated, especially around data, around insights, around analytics that

3:09

can make us better as B2B marketers? Anastasia: Well, one important consideration is segmentation.

3:14

It's really diving deeper into demographics, firmographics, behavior,

3:21

and creating cohorts of customers to solve real problems, right?

3:27

So many customers, whether it's B2B or B2C, they struggle with churn.

3:32

It's kind of a common phenomenon, but churn is a symptom of bigger

3:36

issues and problems, and it could be poor onboarding or lack of usage.

3:42

So, that's where marketers can really understand the usage data and apply very

3:48

targeted campaigns to drive usage back up.

3:53

Matt: Let's tug that thread a little further, because oftentimes

3:55

in B2B, we talk a lot about acquisition, net new pipeline.

4:00

I feel like there's a far greater focus heading into 2025 on customer

4:05

retention, customer expansion.

4:08

I facetiously sometimes say I see more marketers now focusing on

4:12

a number, not a newsletter when it comes to customer marketing.

4:16

What are some things you're seeing in your work with companies that

4:19

it's working or that are trends for focus areas for B2B marketers around

4:23

driving retention and expansion? Anastasia: Well, I think retention is the new acquisition.

4:28

So particularly these days where the costs of acquiring new

4:32

customers are skyrocketing, right? So inevitably customers again, need to think about the entire customer journey

4:41

and apply very data driven creative ways to engage customers, right?

4:48

We know that acquiring a customer costs 60-70% more than retaining existing ones.

4:53

And so what can we do in terms of retention?

4:55

So, again, understanding that the churn is a symptom.

4:58

Focus on onboarding stages first.

5:01

So how can we provide all the tools that we need for the customers to

5:04

be successful in the first, 30, 90 days and reduce this time to value.

5:10

Then if we're seeing that customers are not using our product, that's

5:14

a huge warning sign that they are going to churn in the near future.

5:19

So marketers need to get creative in how they engage the customers.

5:25

And very often it's really providing tools and tips and contextual help within the

5:30

product or emphasizing the successful customers that are doing it well.

5:35

And you can use a variety of channels for that.

5:37

And it doesn't have to be paid channels. Matt: I think the advantage you have when you're working with existing

5:42

customers is you don't have to go find them or search for them.

5:45

Like you should have a regular relationship with them.

5:47

You should have the opportunity to engage pretty quickly.

5:50

Despite that, I think sometimes we get too creative in terms of the questions we ask.

5:55

We talk a lot about net promoter score and are you satisfied?

5:59

Are you happy? I don't know if you were on the CMO Coffee Talk session last Friday, but

6:04

Latane who was the CMO for a long time. She's been the Chief Revenue Officer [at 6sense] for the past

6:08

year and what they've done is they've just gone back to customers

6:11

and asked a very simple question. Are you going to renew?

6:14

Is this a yes or no? And there's no wrong answer, right?

6:17

Yes is great, but knowing that the answer is no is also helpful.

6:21

Okay, why? what's not working? Can we work on that?

6:23

Can we fix that? And if it's not fixable, at least you know in advance where you might have some churn

6:29

risk or churn guarantee in some cases.

6:32

There's some value in having that clarity, right? I think that value on both sides to say, where are we at and how do

6:36

we make this relationship better? Anastasia: Yeah, I know.

6:39

And when I was at OneLogin, we spend a lot of time on really monitoring

6:43

the early warning signals for renewals and we had various tracks

6:49

with executives on how to anticipate potential risks with with customers.

6:54

But I think asking these questions up front is is really a shortcut

6:59

to to get into the answers quickly. I mean, companies need to really have ongoing conversation

7:05

with with their customers.

7:07

And that's what customer success teams need to be doing.

7:10

We know that those teams are very lean right now as many teams are

7:15

and the idea is that marketing needs to work very closely with

7:20

customer success teams, right? Back at OneLogIn I had my customer marketing team split into two focus areas.

7:27

Part of that was really focused on retention and alignment with CS.

7:32

And they were measured on the same goals as CS team was.

7:36

And the other half was really focused on sales and driving account based marketing

7:41

strategy and expansion strategy, which included target customer accounts.

7:46

And so customer success is now being kind of labeled as a problem child,

7:51

but I think there is a huge opportunity to rebrand them as a revenue driver.

7:56

And again, that's where they can partner with marketing and marketing can provide

7:59

programmatic support with the help of AI.

8:02

Whereas the customer success team can focus on really providing white glove

8:06

service to tier one and tier two accounts.

8:10

Matt: Talking today on Sales Pipeline Radio with Anastasia Pavlova.

8:13

She's the Founder and Fractional CMO at Bold GTM.

8:17

And it's been fun to watch your evolution and career, Anastasia, as

8:21

well, from the time we worked together in Marketo to leadership roles you

8:25

played at OneLogin and elsewhere. And now as a fractional CMO for growth companies, I know you're doing a lot

8:30

of work with managed IT, a lot of work with cybersecurity companies.

8:33

How are they leaning into the AI opportunity?

8:36

I feel like we are in a post experimentation-- well, that's not true.

8:40

We're still doing a lot of experimentation as AI evolves, but

8:44

I almost said post experimentation. Cause this is not tinker time anymore.

8:48

There are full rollouts of go to market motions that are dramatically

8:52

increasing agility, speed to market, predictivity for organizations.

8:56

What are one or two examples that you're seeing work with your clients

8:59

and in the field of where AI is having a real difference for marketers?

9:03

Anastasia: Yeah, I'll give you a couple of examples. One is from a client that I worked with their IT services company and

9:11

cyber security and IT services.

9:13

And with AI enablement of the go to market team, we were able to launch

9:19

campaigns in a fraction of the time. So it was really a matter of weeks as opposed to months.

9:24

And so I helped them shift their entire strategy from lead gen focus

9:29

to target account based go to market.

9:32

And they had real focus in three verticals.

9:35

And so we methodically attacked one vertical at a time and AI

9:40

played a huge role in this. So it was everything from doing research on ideal customer profile on personas,

9:48

both technical and non technical really outlining the pain points and mapping

9:53

value proposition to that, doing interviews with the subject matter

9:57

experts within the company, and then taking those insights and translating

10:01

them into longer form content. And then doing testing across all the subject lines for

10:07

ad campaigns and creative. And so what that enabled us to do, this whole process really enabled us

10:13

to launch email nurture campaigns, and BDR sequences, ads on LinkedIn

10:19

and Google targeted content hubs.

10:22

In a matter of weeks for the first vertical, and then

10:25

we went on to the next one. So from financial services to bio pharma and professional services, a matter of

10:31

weeks, and we overachieved on on pipeline goals in a matter of four to five months.

10:37

So that is a very specific example where AI has worked really well

10:42

for efficiencies and effectiveness.

10:45

But it's also interesting to see companies that are smaller that are building

10:49

AI first or AI native tech stacks and reimagining the entire processes with

10:58

AI, and that's where I really get excited because it's so much more difficult for

11:03

more established companies and bigger companies to turn the ship and they're

11:08

reliant a lot on AI tools that are available in the platforms that they use.

11:13

So whether it's Einstein, in Salesforce or any other AI capabilities in marketing

11:20

automation or other tools that they use.

11:22

They're kind of at their mercy. Matt: So isn't that just always the case, right?

11:26

you know, It's far harder to pivot than it is to start with some blue

11:30

ocean and start with a clean slate. I think about back in the days when we started to move towards a

11:35

tighter and broader digital play in marketing when the internet really

11:39

became critical mass a long time ago.

11:42

A lot of companies struggled with making that pivot from analog marketing 30 second

11:47

TV ads to doing digital advertising.

11:50

It sounds old school, but that was a thing that pivot and that

11:53

resistance, that pivot was a thing. Certainly saw that I mean, marketing automation, right?

11:56

I mean, back in the Marketo days, you saw a lot of companies that if they were

11:59

just getting going, building a marketing automation platform as the hub of their

12:03

programs, it was kind of a no duh moment, but moving companies from batches and

12:08

to a more nuanced program-- different.

12:11

And we can sit here in 2025 and say, well, if all you're doing is batching

12:15

people into programs and doing some arbitrary lead scoring and not paying

12:19

attention to intent signals for buying committees and buying journeys the way we

12:22

know to do today, we continue to evolve.

12:25

Right? And I think the jobs continue to change, but smart people evolve with it.

12:30

Talk a little bit about in your career and especially in your work today as a

12:34

fractional CMO, the importance of change management and culture management as

12:39

we continue to reinvent what selling and marketing is and how it's done.

12:43

Anastasia: Oh, it's absolutely critical. You can't really accomplish much without it.

12:47

So bring the entire C suite and leadership team on board is the

12:52

first step in getting to progress.

12:54

And sometimes the leadership teams, they're so stuck in their old ways that

12:59

it's really challenging to open their eyes, but by bringing examples from what's

13:04

working outside the companies and doing baby steps and pilot programs, what I

13:09

think makes it makes a big difference.

13:12

I'm still surprised how many companies tinker with AI in some pockets of the

13:16

organization without having an AI czar or a committee or cross functional team

13:21

that really tries to get together and bring best practices to the rest of

13:27

the organization and at least surface some of the successes and use cases.

13:32

And that's what I try to evangelize with all my clients.

13:35

And there's plenty of resources on how to do it in companies that are doing it well.

13:40

And I think that that's kind of the first step.

13:42

So recognizing that AI is an enabler, it's not going to take your job, but people

13:47

who are using AI will take your job.

13:50

So it's important to have the leadership team endorse that and

13:55

empower the people who are raising their hands to be the drivers of

13:59

change within the organizations, right?

14:02

And I think for the go to market teams, it's where the biggest opportunities lie.

14:07

So with marketing, customer success, sales teams, BDR teams, they can be

14:12

the pioneers and the beneficiaries of AI strategies and practice.

14:18

Matt: Isn't it fascinating to watch the adoption curve of all kinds of

14:22

innovations and technologies, right? It always feels like whatever we're facing right now is new and could

14:26

be different and could break the mold and break what we're used to.

14:29

I'm a huge baseball fan and it's fascinating to me that when radio

14:34

became a thing a hundred years ago, baseball owners didn't want their

14:37

games on the radio because they wanted people to come to the game.

14:40

And then all of a sudden everyone listened to the radio, oh, wow, they listened to

14:43

the radio, they want to come to the game more often and we're getting more revenue.

14:45

So yeah, put it on the radio. And then TV came along and said, no, no, no, we don't want our games on TV

14:50

because they'll stop coming to the game. And so it's that old thinking that it worked and it's not old.

14:56

It's just it's proven in a different mode when other technology innovations didn't

15:00

exist, that innovation curve and helping, allowing ourselves to think differently

15:05

about things way easier said than done. And I feel like we're there with AI as well.

15:08

A lot of fear, a lot of uncertainty, a lot of wanting to hold on to what we know.

15:12

Which is, you know, the cat's out of the barn, right?

15:15

Like we can't unknow what we now already know about what AI is capable

15:19

of doing, let alone what's going to be announced this afternoon, tomorrow,

15:22

next week, it's moving so fast. Anastasia: It's moving at a light breaking speed and it's certainly

15:29

exciting to participate in this wave.

15:31

You and I have been around the block for a few years, so it's

15:34

not the first wave for us. And so adapting and adopting this new technology is really key.

15:40

It will be fascinating to see what impact AI is going to continue having

15:46

on SaaS which is where you and I have a lot of business in and so AI is going

15:51

to be basically creating software for us and that's fascinating to watch.

15:56

I am an advisor and mentor at UC Berkeley here, Startup Accelerator

16:05

and we just released a new cohort of entrepreneurs and with their startup

16:11

ventures that got funded and most of them are focused on AI applications.

16:17

It's here and it's here to stay. And so we need to embrace it and drive the change forward.

16:23

I'm really excited about using all the tools and helping companies

16:27

drive efficiencies and, effectiveness in their go to market strategies.

16:32

Matt: We're not old Anastasia. We're experienced and wise.

16:34

That's the pivot. That's the angle I choose... over the years we've seen people that are digital natives that are mobile natives

16:40

that are just used to this, that didn't have to pivot and we're well into what

16:44

I would consider the AI natives, right? Like the kids that you have in The Accelerator in Berkeley where they've

16:50

been playing with from the beginning. It is part of the initial set of tools.

16:54

And it's going to be exciting to see what they come up with.

16:56

What they innovate. It's not all going to work. It's not all going to be successful.

16:59

It's not all going to launch, but this is how we learn.

17:01

I'm excited for you being at the front end of that, being able to see that

17:05

firsthand, it's going to be pretty cool. Anastasia this has been awesome.

17:08

I know we've covered very quickly, a lot of ground here.

17:10

If people want to learn more from you and more about you, where should they go?

17:14

Anastasia: Well, I'm definitely on LinkedIn or send me an

17:17

email at info@boldgrm.com.

17:20

Matt: Awesome. Awesome. Anastasia. Thanks so much for being here with us today.

17:23

Thank you everyone for listening and watching another episode of

17:26

Sales Pipeline Radio in the books. Look forward to seeing you all next week for more of the same.

17:31

My name is Matt Heinz. Thanks again for joining us on Sales Pipeline Radio today.

17:34

We'll see you next time. Take care.

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