Gainsight, the leading Customer Success Management solution, today announced its next generation platform to manage customer retention and eliminate churn, connecting the silos of data that prevent businesses from understanding their customers. Built from the ground up to integrate with existing CRM systems, Gainsight’s platform employs big data analytics to automatically evaluate sales data, usage logs, support tickets, surveys and other sources of customer intelligence and present users with actionable insights and recommended best practice workflows. Gainsight enables recurring revenue companies to claim a bigger slice of the $500 billion Subscription Economy by becoming world-class in customer success management. The subject of a separate announcement today, Gainsight announced a $20 million Series B funding round led by Bain Capital Ventures with participation from existing investor Battery Ventures and new investor Summit Partners.
“In the subscription-based economy, retaining customers and identifying upsell opportunities are imperative to revenue stability and growth. If companies want to survive and thrive, SaaS and other recurring revenue companies must synthesize deeper insights across all of their data to solve the mission critical problem of customer churn,” said R “Ray” Wang, principal analyst and founder, Constellation Research. “By bringing disaggregated customer data into a unified, highly scalable platform and automating predictive analytics related to customer health, companies can take control of their customer success to exceed their business goals.”
Gainsight Platform Supercharges Customer Success Management for All CRMs
Gainsight leverages advanced data analytics and integrates with leading CRM systems including Salesforce.com, Oracle Sales Cloud, Netsuite, Microsoft Dynamics CRM, SalesLogix, SAP, Siebel and more to provide:
- Customer360™: An integrated view of customer health across product/service usage, contract information, support activity, billing history, survey responses, reference and engagement data and more.
- Predictive Analytics: Data-driven workflows to flag at-risk customers and upsell opportunities based upon patterns and rules, and route these to the appropriate team member or to the marketing automation platform in place.
- Playbook Automation: An automated process of identifying future revenue opportunities and creating “to-do lists” of best practice actions needed to bring at-risk customers back to health, or to further improve existing relationships.
“Gainsight gives us unprecedented visibility into our customers by aggregating all of our customer data—which used to be spread everywhere across the organization and across many disparate systems —into a single platform with a complete 360 degree view of the customer,” said Mike Stocker, who heads up the Customer Success team at Marketo. “We believe in aligning everything we do around our customers and Gainsight has been a major component in aligning our customer success efforts. They are at the forefront of a huge market opportunity where companies like Marketo are looking for a solution to manage customer retention, improve the customer experience and reduce churn.”
Front-line employees interacting with customers live in their CRM system day in and day out, but those systems are only as valuable as the information that is directly entered into them. By integrating new data sources into Gainsight, companies can take their customer success initiatives to the next level through deep, never-before-seen insights into data and trends, while easily scaling data capacity into terabytes and beyond. Salesforce users can continue to use Gainsight’s fully integrated UI natively in Salesforce.com for familiar and easy access to their user data and customer success metrics.
“In the Subscription Economy of pay-per-month and pay-per-use, Customer Success is no longer a nice to have – it’s essential for our company’s growth and livelihood. Churn and retention are just as important as growth and are key indicators themselves,” said Bryan Plaster, vice president Customer Success Informatica Subscription and Cloud Labs. “Churn isn’t just a problem that affects the Customer Success team – it impacts the whole business, from top to bottom. Gainsight is a must have for any company moving to a subscription based model where keeping customers happy is the key to your company’s success.”
Customer Success Management: The Key to Growth in the Subscription Economy
As the adoption of SaaS and cloud-based subscription models continues to soar, companies are increasingly collecting their customers’ lifetime value in small installments over time. As a result, retaining customers and minimizing churn is essential to sustain and grow revenue, at the same time as businesses struggle to identify warning signs in time to save at-risk accounts. The irony of big data is that while companies are collecting more user data than ever before, the valuable intelligence hidden within is increasingly harder to discover – a proverbial needle in an ever-growing haystack. For companies that depend on ongoing customer retention, Gainsight solves this challenge with its complete Customer Success Management solution that integrates disparate and siloed data sources into one, easy-to-use platform, automatically identifying and predicting indicators of customer churn risk. Gainsight leverages the power of data-driven intelligence to empower team members across all organization levels to understand customer health at-a-glance, armed with an intuitive dashboard and automated alerts and reports.
“Gainsight’s new platform opens up new frontiers in customer data intelligence, empowering companies to fully take control of the analytics that are the barometer of customer success. Many of our customers have been asking for the best of the CRM and Big Data worlds, and we are happy to deliver with our new backend functionality,” said Nick Mehta, CEO of Gainsight. “Gainsight offers a seamless ‘source of truth’ for understanding customers, offering deep analytics and sophisticated reporting to enable businesses to smartly interact with their customers and prospects.”
To learn more about Gainsight’s Customer Success Management solution, please visit https://www.gainsight.com/products.
Gainsight, the first and only complete Customer Success Management solution, helps businesses reduce churn, increase up-sell and drive Customer Success. The company’s SaaS suite integrates with Salesforce and uses Big Data analytics to evaluate sales data, usage logs, support tickets, surveys and other sources of customer intelligence. In this way, Gainsight provides a 360° view of customers and drives retention across Customer Success, sales, marketing, executive and product management. Learn how leading companies like Angie’s List, Castlight Health, Marketo and Informatica are using Gainsight to help their customers succeed at www.gainsight.com.
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Bhava Communications for Gainsight