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In our Path to CPO webinar series, there seems to be a common theme among CPOs. A noticeable trend reveals that product, like customer success, relies on every part of the organization to deliver outcomes. Recently, Nick Mehta, CEO at Gainsight, met with Chris O’Donnell, Chief Product Officer of Hubspot, to get his view on a path into product management. Hubspot is a growth platform that enables your business teams and organizations, or Hubs, to work collectively. From Marketing to Sales to Services, and even a CRM, the platform connects companies with tools they need to scale effectively. The understanding is that each Hub is powerful alone but better together. Founded in 2006 by Brian Halligan, Chief Executive Officer, and Dharmesh Shah, Chief Technology Officer, Hubspot is headquartered in Cambridge, Massachusetts, with offices and customers worldwide. Their primary focus is on small to medium businesses under 2,000 employees, helping them create jobs, find financial independence, and thus, expand. Not One Path Chris shared his path into the C-suite. It did not go unnoticed by Nick that no two journeys for CPOs are the same. Nick found it “interesting to think that each kind of chief product officer is flavored differently.” […]
In the current, increasingly complex economic situation, many CFOs, and others in the organization are reviewing key metrics—particularly Cost of Retention and Customer Acquisition Cost. According to research, a modest bump of 5% improvement in retention can result in anywhere from 25% – 95% increase in profits. In these uncertain times, those stats are not to be taken lightly. KBCM Technology Group’s 2020 SaaS Survey Results indicate that the cost to acquire one dollar of new customer Annual Recurring Revenue (ARR) is $1.60., while the cost to expand an existing customer is only 69 cents. Gainsight has been preaching this point for some time—customer acquisition isn’t enough for your company to stay ahead of the competition. To successfully drive real growth for your business, you must focus on preserving and expanding the customers you already have. The Purpose Behind The Process A focus on retaining customers comes with its own challenges. Behind every renewal is a person. That person has likely been a user of convenient consumer products and translates their experience with those products into heightened expectations for your organization. Instead of the adage “Always be selling (ABS),” organizations must shift to the mantra, “Always be retaining (ABR).” This […]
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1. Tell us a bit about yourself and what your role is at Gainsight. I’m responsible for Product Management and Technical Communications. As one team, we provide relevant guidance to users when they need it, whether it is through documentation or inside the product. With a finance background, I am focused on developing our Revenue Optimization solutions, which connects Customer Success to revenue. 2. What does your day-to-day look like? Mornings are dedicated to team and customer collaboration. It’s the only time that works across three time zones! Customers are bringing us their most challenging problems, which take a diverse team to solve. Afternoons are often focused on reviewing requirements, wireframes, and designs for the next set of initiatives. Other afternoons I focus on supporting our technical communications team, such as examining in-app PX engagements. I then dedicate a few hours of me / family time before hopping back on with my India teams. 3. At Gainsight, we believe customer success is a company-wide priority. How do you drive customer success in your role? As an owner of products and technical communications, my team drives customer success through our products. It starts with building our products in accordance with our […]
Strategizing Customer Success Spend for 2021: 5 Takeaways From Our Survey On Customer Success Budgeting
It’s hard to believe that we’re just a couple of months away from 2021. To say that 2020 has been a challenge would probably be the understatement of the century so far—and I think I speak for everyone when I say that I am cautiously optimistic that we’ll launch into 2021 feeling better about how things are going—in business and life. That said, 2021 will undoubtedly bring with it a new set of challenges & questions that we’ll need to be ready to address. And one of the most important ones that we hear about from leaders is: “How much money should I spend on Customer Success in this upcoming year?” The answer to this question has always been dependent on several different factors. In these uncertain times, we have even more things to consider: the industry you are in, the type of recovery you are experiencing, and what adjustments you made in 2020 that need to be re-visited in the new year. To try and dig deeper into this topic, we sent out a survey in early October to leaders of public and late-stage private SaaS companies asking how they are thinking about their CS budgets for 2021. The […]
In episode 12 of the Gainsight Gamechanger Podcast, Adam Joseph, Director of Customer Success, EMEA at Gainsight sits down with Star Hofer, former Vice President of Customer Success at eCompliance, now VP of Customer Success at PartnerStack. Listen to the full episode and access Adam’s summary by unlocking the content. Subscribe today on: Apple Podcasts | Spotify | Google Podcasts Ep 12: Creating the Complete Customer Success Team Every Customer Success leader wants to form the complete CS team. But what makes the complete CSM team, if such a thing actually exists? Is there a right mix of having people who are tenured CSMs versus those who have worked in the same industry as the customers they serve? What personality types are important? What other factors need to be considered? It is in the answers to the last question that can be a hindrance in creating the complete CS team. One person that would know the answers to these questions is Star Hofer, Vice President of Customer Success at PartnerStack. Star brings a background of 18 years of experience in varied roles from Project Management to Customer Success. But most importantly, Star is known for her ability to inspire, motivate, […]
When evaluating customer success software, this is an invaluable resource. G2 Grid Reports are based on thousands of verified reviews and data from actual users, so you can compare multiple vendors based on real feedback. Get access to ratings and reviews for several vendors across several categories including satisfaction ratings, feature comparisons, segments served, and much more. What will you learn? Highest rated features Likeliness to recommend Product roadmap sentiment Market presence stats And more!
You are standing in an open field west of a white house with a boarded front door. There is a small mailbox here. And just like that, the keynote (err, I mean, game) is afoot! Two sentences and a blinking cursor was all it took to capture my imagination back when I first started leveling up in the ZORK I text-only video game. At our first-ever Pulse for Product event, we got inspired by this idea of video games, the nostalgia of 8-bit classics, the 90s (or really any year excluding 2020 – the bar is low), and leveling up (which ultimately became our theme for the event). So let’s go back in time for a moment, perhaps not all the way to the 90s, but to the year 2000. What I love about ZORK I is probably also what led me to become a product manager, my very first software job. It was the sense of endless possibilities. At the risk of getting all “back in my day…” about video games, no amount of ray tracing or frames-per-second or deterministic world-building will ever be able to match the level of detail in a child’s imagination. And when I started […]
Welcome back to Day 2 of Pulse for Product. While we don’t have an MTV nominated music video to share today, but we do have some winners—our GameChanger Product VIP Awards. The GameChanger community launched to allow our customer success and product network to inspire each other and soar to new heights. Our GameChanger Product VIP Award categories are linked to the four stages of our Product-Led strategy—onboarding, adoption, retention, and growth. We wanted to recognize and celebrate our customers leveraging Gainsight PX to change the game of product experience for their company, customers, and teammates. Let’s dive into the winners. Onboarding Champion WINNER: Al Bsharah, Seismic Customer onboarding is the process users go through from the start of their journey to become a customer and beyond. It encompasses various interactions and engagements with your brand created to enhance the customer experience and influence the ongoing relationship your customer has with your brand and product. Adoption Champion WINNER: Will Patterson, Securly Product adoption is the process of users becoming aware of a product, understanding its value, and beginning to use it. Actual product adoption comes when the value of your product is so great that it outweighs costs. Retention Champion […]
In episode 11 of the Gainsight Gamechanger Podcast, Adam Joseph, Director of Customer Success, EMEA at Gainsight sits down with Natasha Narayan, CEO and Co-Founder of IcebergIQ. Listen to the full episode and access Adam’s summary by unlocking the content. Subscribe today on: Apple Podcasts | Spotify | Google Podcasts Ep 11: Learning from Churn: How CSMs Can Become Investigative Journalists Churn can be a painful event for any company, especially during hard economic times. Even when it happens, there is valuable information that we can learn from our former customers. It can drive decisions, understand customer motivations, and most importantly, it can prevent mistakes from reoccurring. That in itself is a reason to advocate for detailed churn analysis. Churn expert Natasha Narayan, CEO and Co-Founder at IcebergIQ, helps companies do just that by providing unbiased feedback about customers and buyers to form Go To Market strategies, improve win and renewal rates, and make their customer experience better. In this Game Changer podcast, Adam Joseph, discusses with Natasha what are the benefits of win/loss reporting and what themes companies should look for in churn interviews. She gives insights into why customers decide to leave long before you discover they are, […]
It is rare for a company to create a new category and build a complimenting and innovative software. Gainsight is part of those unique breeds of businesses that have accomplished this by helping create the category of customer success, and the solution—Gainsight CS. Nick Mehta, CEO of Gainsight, is always looking for companies constructing a new category and leading their vertical. One such company is Terminus. Terminus is an end-to-end account-based marketing platform (ABM) used by the world’s largest and most successful companies. It began the account-based movement in 2014 to help its customers transform B2B marketing. They empowered marketing teams to harness their resources while concentrating on sales by focusing on customers that were the “right fit.” That meant customers who were most likely to buy segments of their addressable market. By doing so, marketing teams could drive quality growth by producing, promoting, and measuring scalable account-based initiatives. Like Gainsight and CS, Terminus is turning the world of marketing upside down. Why? Because ABM is marketing with a CS twist. Marketing to “best fit” customers aligns with one of the Ten Pillars of Customer Success: Sell to the Right Customer. Watching with excitement, Nick was compelled to reach out […]
Welcome to Day 1 of Pulse for Product, our inaugural event geared towards those in product management roles. Child-like joy is so vital to Gainsight, and we wanted to incorporate that essence into our theme. What better way to feel like a kid again than through video games, looking back fondly on the 90s and listening to the Backstreet Boys? Yes, you read that right. Check out a sneak peek of our version of “I Want it That Way.” With the year 2020 delivering what it has, we can all feel nostalgic about turning back the hands of time to a simpler life of socializing, hugging, and unrestricted travel. Gamers know all too well the shortcuts to ‘level up,’ allowing their character to have more abilities, advance boards, and access new tools to win. However, the skills needed to ‘level up’ for product managers are a bit more elusive as PMs often receive varying feedback from customers, sales, customer success, engineering, etc. Everyone wants something from PMs, and they are constantly juggling the roadmap for success. A PM’s role has evolved from its inception in 1931 at Proctor & Gamble to today, where companies are building rapidly in the cloud, […]