Is Customer Success The New Sales? Image

Is Customer Success The New Sales?

Customer Success is about so much more than just reducing churn or growing revenue from existing customers. You can attract and close new customers with a strong Customer Success value proposition and deep understanding of your ideal customer profile. What is the profile of the modern Customer Sales organization? Who do you hire and what type of skills and abilities do you look for? As modern Customer Success people start to wrangle cross-sells and up-sells, navigate intricate interdepartmental hierarchies, and manage diverse customer accounts, they are starting to look, talk, and think a lot more like salespeople. Find out how to: Hire the right people into your Customer Success organizations Staff and leverage Customer Success to grow your subscription business Align Sales and Customer Success teams to drive top-line revenue and growth Streamline communications across Sales and Success to optimize the end user experience When: Recorded Tuesday, June 17, 2014 at 10:00 – 11:00 AM (Pacific) Who: Tawheed Kader (CEO of ToutApp) and Nick Mehta (CEO, Gainsight)

1 min read
Customer Success Management Drives New Bookings Image

Customer Success Management Drives New Bookings

In the previous post in this series on the Business Benefits of Customer Success Management (CSM), I talked about Preserving Revenue by improving customer retention and lowering churn. Now I want to look at the third business benefit Forrester cites in their report “An Executive Primer to Customer Success Management.” and this time it’s New Bookings. Customer Success Management Drives New Bookings By effectively managing customer relationships, Forrester found that the Customer Success Management organization help to ensure a steady stream of client referrals and advocacy. Make no mistake, brand advocates serve as a powerful virtual sales force for your company, bringing new customers into the fold that you may otherwise not have been able to reach. In fact, Forrester found that the spend on your company’s product and services by an advocate is exponentially higher than that of a non-advocate, and the report goes into the specific details on that. In addition, brand advocates bring measurable economic value to the company by increasing new business bookings, which, due to the high-trust nature of their source, often have more than a three times-the-average customer lifetime value (LTV). It’s clear that Customer Success Management is critical to the growth and long-term […]

2 min readMay 14, 2014

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Pulse 2014

In May 2014, over 900 executives in the Subscription Economy gathered in San Francisco for Pulse 2014, the largest Customer Success gathering in history. The energy in the room was incredible and the conversation online reached over 12M impressions on Twitter. Pulse is the annual destination for the Customer Success industry. If you weren’t there, you missed out on 30+ sessions from over 120 leading executives, investors and entrepreneurs, including Malcolm Gladwell, wild Churnbots on the loose, Spiderman, an a cappella rendition of Shout, CEOs from Evernote, Marketo, SurveyMonkey… and much, much more. Check out the event site for photos, videos and more!

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Customer Success Management Preserves Revenue Image

Customer Success Management Preserves Revenue

In the previous post in this series on the Business Benefits of Customer Success Management (CSM), I talked about Revenue Expansion (up-sells, price increases, etc.) and how the data-driven nature of CSM can significantly drive top-line revenue growth. Now I want to look at the second business benefit Forrester cites in their report “An Executive Primer to Customer Success Management. ” and this time it’s Preserved Revenue. Preserve Revenue by Improving Customer Retention When most people think of Customer Success, the first thing they think of is typically that it helps manage and mitigate customer churn by ensuring optimal product usage. That’s certainly not the only thing Customer Success is good for, but it is an important element that goes a long way toward ensuring a company’s success. Forrester found that organizations are significantly decreasing churn rates by addressing customer issues as they arise, ensuring customers are properly on-boarded and engaged, that they’re trained using the product, and ultimately achieving the business results that were articulated during the sales cycle. When your customer achieves the business results they need to achieve, that is the definition of customer success. As one CSM says in the Forrester report, “We make sure that […]

2 min readMay 13, 2014
Customer Success Management Drives Expanded Revenue Image

Customer Success Management Drives Expanded Revenue

In the first part of this series on the Business Benefit Of Customer Success Management (CSM), I talked about who benefits from CSM and how the ROI is measured from having a CSM organization. Now I want to dive into the first business benefit Forrester cites in their report “An Executive Primer to Customer Success Management., and that’s Expanded Revenue. Data-Driven Revenue Expansion From up-sells to price increases, when a CSM has a data-driven conversation with their customer, one based not just on usage data, but the myriad other inputs into a Customer Health Score, the ability for Customer Success Management to directly impact top-line revenue is substantial. Forrester found in their research what we’ve known to be true, and that is the power of having a data-driven conversation with customers. Knowing how customers are using your product and how they feel about their experience therein, among other data points, can lead to increased product usage within your customer’s organization, and allows appropriate cross-sells and up-sell opportunities to surface that are actually aligned with their business goals (the definition of customer success, right?). Further, in their report, Forrester shows that when the customer is presented with data that quantifies the […]

2 min readMay 12, 2014
The Business Benefit Of Customer Success Management Image

The Business Benefit Of Customer Success Management

Customer Success Management is good for business, and Forrester confirms this in their report “An Executive Primer to Customer Success Management.“ But what exactly is the business benefit of Customer Success Management? Why is it good for business? Who Benefits The Most from Customer Success Management? First, let’s explore what types of companies benefit the most from – or, more accurately, thrive because of – Customer Success Management. Subscription Economy businesses such as Enterprise SaaS companies are most likely to see immediate benefit from a well-defined and implemented Customer Success Management initiative. Due to the nature of a subscription business model and recurring revenue, and the fact that revenue is recognized over the lifetime of the customer, the need to maintain a healthy relationship with customers is easy to see. The benefits of Customer Success become even more significant as a company matures and takes the primary focus off of rapid customer acquisition, to a more balanced focus where customer retention and per-customer revenue growth become significant for ongoing financial success. The Real ROI of Customer Success The great news is that the business benefit of a Customer Success organization is easily quantified, simply by determining a baseline of operations […]

2 min readMay 11, 2014
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Customer Success Is Good For Business

Customer Success is a massively-disruptive movement in the Subscription Economy for one very simple reason; Customer Success is good for business. Especially subscription businesses. Finally, what we at Gainsight have known to be true, and what we’ve been sharing, promoting, and preaching – and, frankly, have built our own business around – has been validated in a big way in a new paper by Forrester Research (download the report here) titled “An Executive Primer To Customer Success Management.” The Customer Success Management profession is finally getting the credit it deserves! Forrester has clearly differentiated the role from other functions and outlined the importance customer success managers have in not only retaining customers but helping grow their organizations by transforming customers into advocates.” – Chad Horenfeldt, Director, Customer Operations at Influitive In Subscription businesses – such as Enterprise B2B Software-as-a-Service (SaaS) – the real economic value of a customer isn’t realized immediately, but is instead realized over time. What this means for Subscription Economy businesses is that you can’t make the sale and then ignore your customers. Rather, you must actively manage your relationship with your customers, not just during the sales or on-boarding process, but proactively across each phase of […]

3 min readMay 7, 2014
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Grow Your Top Line with Customer Success Metrics

Did you know – Companies with customer success teams and metrics have 24% lower churn and 20% higher market capitalizations. Have you invested in Customer Success, but are uncertain of how to measure its efficacy and link it to corporate numbers? Are you a Finance executive who is evaluating investments in customer success? To make your Customer Success team a key revenue driver for your company, a measurement and optimization process and solution is critical. In this webinar, we chat with technology company benchmarking expert Lauren Kelley about what metrics and processes to put in place. Get answers to: What are best-in-class companies measuring related to Customer Success? How do you gather customer data from different systems? Why customer success metrics now matter and how they’ll boost your bottom line When: Recorded May 1, 2014 | 1:00 – 2:00 PM (Pacific) Who: Lauren Kelley, CEO – OPEXEngine; Allison Pickens, Director of Business Operations & Finance – Gainsight

1 min read
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Customer Lifecycle Analytics

Gain customer insights around retention, growth, opportunity, and lifecycle stage tailored to every role. Why Download? Gainsight, the first and only complete Customer Success solution, helps businesses grow faster by reducing churn, increasing upsell, and driving customer advocacy. The company’s SaaS solution uses predictive analytics to drive revenue from sales, usage, support, survey and other sources of external customer data. Discover more about it’s capabilities when you download the Lifecycle Analytics guide to know more. Understand your customer portfolio & discover risk and growth signals Slice and dice aggregated customer data such as surveys, billing, support, usage and sponsor data to identify what drives stickiness Compare account health with the the product usage to find candidates for upsell

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[Whitepaper] Forrester’s Customer Success Executive Primer Image
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