While we face the challenges of the new normal ushered in as a result of this pandemic—record job losses, global shelter-in-place policies, and a fractured health system—business leaders are doing everything they can to combat churn. In an economic downturn, new logos will be few and far between.
The effects are increased pressure on customer retention, upsells, and expansion. When the risk to your book of business is changing in real-time, where is the first place you look for solutions? Data! However, the type of data you need to make game-time decisions cannot be pieced together from a spreadsheet or even three. This realization has caused many of our customers to declare “Thank God we have Gainsight right now!” [*actual customer quote].
Perhaps you have investigated Customer Success technology in the past but decided the timing was not right. Maybe you opted to cobble together a few internal solutions and more than a few spreadsheets to meet your needs temporarily and now face the inevitable issues with scale and efficiency. Whatever decision you made about a CS technology in the past is no longer valid in this new economy. Everyone in the C-suite from the CCO to the CEO and the CFO want to have an accurate picture of customer health, a segmentation strategy based on customer risk, and a set of prescriptive playbooks to ensure your team is consistently acting to mitigate risks. Gainsight’s Risk Management package will allow you access to the most critical aspects of the platform including 360 View, Health scores, Dashboards, and Playbooks to get your team up and running with these essentials in as little as two weeks.
We know buying decisions are difficult right now, but we also stand behind the fact that Customer Success is existential right now. Here are 3 reasons you’ll want to revisit CS technology right away:
1. Return on Investment
At Gainsight, our recent survey results indicated that over 77% of C suite executives believe churn will spike upwards of 3 percentage points. If you could implement a technology solution that has been proven to increase gross retention by up to 14%, the investment would pay for itself. How? Gainsight’s Scorecards provide a multi-dimensional picture of customer health to accurately understand risk across your accounts and trends in your business. And you can move quickly: with our Customer 360, you quickly get a holistic understanding of the account, including open CTAs (calls-to-action), health score, NPS, segment, number of users, and ARR. Collectively, your team can quickly surmise the best course of action for low-touch to high-touch accounts much faster and more reliably with the capabilities we’re recommending in our Risk Management package.
2. Verified Outcomes
During the discovery process for buying software, a strong sales team should always identify business challenges and match those with solutions from the product. We take this one step further by following stated business challenges (through our Success Plans shown below) to the desired outcome shared by a decision-maker. That outcome becomes the basis for every check-in call and quarterly business review to ensure you’re delivering value to your customers.
Right now, many organizations have the same business challenge in mind: reducing churn. This is where Gainsight’s unique industry expertise shines through for our customers. The Risk Management package includes expert consulting focused on this outcome, which can ensure you are able to both start seeing wins quickly and measure the ROI of your Gainsight investment. And as your goals evolve, continued partnership with our team will uncover new business challenges we’re able to help solve. The rapidly changing economic conditions of COVID-19 mean that financial investments have to deliver almost immediate ROI and we can ensure implementation and subsequent advice are intertwined with your changing goals.
3. Fast Time to Value
Time is of the essence in these challenging economic times. Efforts made to stop churn today could make or break your business performance for the year, and beyond. Fortunately, the Risk Management package is scoped to get you up and running as quickly as two weeks. We want you to see the immediate impact of your investment. Imagine in one month’s time you could be running timely discussions with your CEO or CFO using Gainsight dashboards to paint a broad picture of what is happening across your customer base.
With this deeper understanding of how customer success technology can help you navigate this new reality to retain your customers, now is the time to act swiftly. We would love to show you how simple it is to get the right tools in place to focus on your install base. Schedule a demo today and have Gainsight delivering the answers you need before the first day of spring.