The Right Financial Metric for Customer Success: Gross Retention or Net Retention?

The Right Financial Metric for Customer Success

“If you need more revenue, invest in Sales.” Why is that the default—some might say “kneejerk”—response to the basic question of how to make more money? One of the reasons Sales is such an obvious economic driver for companies is because its core Key Performance Indicator (KPI) is meaningful and well-defined: bookings. But for businesses

6 Ways Customer Success Is Showing up in Non-Tech Companies

6 Ways Customer Success Is Showing up in Non-Tech Companies

You’ve probably heard this one before: A Customer Success Manager, an Internet of Things Engineer, and a Management Consultant walk into a bar… Okay, maybe not! But that triumvirate seems to be showing up frequently in historically non-digital businesses as the trend of “Software Eating the World” advances unabatedly. Who knows? Maybe someday soon Customer

Acquiring Customers Isn’t Enough. Here’s Why You Need to Focus on Retention.

Cost of Retention vs. Customer Acquisition Cost. It’s a classic match-up. They’re both essential players, but when it comes to healthy growth, which one of these best practices should you be betting on? In the early days of SaaS, growing fast was everything. Money was poured into customer acquisition and businesses took off left and

What I Learned from CCO Summit Europe

What I Learned from CCO Summit Europe

We’ve done the Chief Customer Officer Summit, which we affectionately refer to as “CCO” four times in the US. It has been phenomenally successful, with our NPS ranging from 85 to 94 for those four events. So we decided to bring it to Europe last week and the results were no less amazing. 40+ leaders

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What is a Customer Retention Rate and How do I Calculate It?

What is a Customer Retention Rate and How do I Calculate It?

Customer retention describes the actions and strategies used to prevent customers from taking their money elsewhere. When a customer defects, it’s known as churn. Customer retention efforts, when done successfully, will prevent churn and encourage repeat customers. Keeping customers happy is nothing new, but it’s taken on greater importance ever since a little something we call