CSM Practice, the leading Customer Success Strategy Consulting firm, conducted a voluntary firm survey to determine the impact of the pandemic on SaaS companies in general, and Customer Success teams specifically. The survey included over 100 customer success professionals from across the globe between the months of April and May, 2020.
This survey is part of CSM Practice effort to assist SAAS companies with business continuity planning by facilitating the exchange of information.
The survey results include valuable real-world insight into the effectiveness of adjusting customer retention, expansion and value-selling strategies.
Read the FULL survey results: https://www.csmpractice.com/coronavirus-customer-success-survey/
ADJUST YOUR CUSTOMER RETENTION STRATEGY WITH THESE RESOURCES:
1. Infographic: Level up your Customer Success Strategy during COVID-19 crisis:
https://www.csmpractice.com/infographic-coronavirus-customer-success-tips/
2. Account Segmentation Strategies during Covid-19:
https://www.csmpractice.com/account-segmentation-coronavirus/
3. Customer Success Strategies Assessment for COVID 19:
https://www.csmpractice.com/coronavirus-assessment-csm
4. 6 Best Practices to Ensure Customer Success During COVID-19: https://www.csmpractice.com/best-practices-customer-success-coronavirus/
HOW CAN CSM PRACTICE HELP
At CSM Practice, we accelerate SaaS companies profitable growth through customer retention and expansion selling strategies.
Our Customer Success certified experts will help you increase upsells, grow end-user adoption, and improve your renewal rates with best in class strategy and processes.
CSM Practice specialized in technology and services industry, who offer a portfolio of enterprise solutions, who wish to achieve successful and scalable results.
CSM Practice offers a particular customer-centered approach that covers the entire life-cycle of the client from onboard to renewal. CSM Practice helps you to develop a winning plan for the success of your client.
Take it to the next level! Ask CSM Practice about the services we provide and learn how we can help you transform your organization into success:
https://www.csmpractice.com
2. Our COVID-19 Survey Results provide insights on
SaaS companies and customer success teams
impacted by the Coronavirus crisis.
2
3. EXECUIVE
SUMMARY
The majority of survey participants indicated that their
subscription model and payment offerings were affected
by the pandemic.
Overall, 44% of companies saw an uptick in customer
engagement, while 37% indicated a lower level
of customer engagement.
Approximately 60% reported negative impacts on
customer retention and upselling due to the pandemic.
The pandemic impact on sales and retention forecast for
mid-May 2020 is 67%.
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2
3
CUSTOMER SUCCESS
SURVEY FINAL RESULTS
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3
4. EXECUTIVE
SUMMARY
30% of client success organizations planned to hire
additional CSMs during the pandemic.
In the first weeks of May 2020, the majority of customer
success team were not very concerned about the
prospects of returning to work in the office.
39% of SaaS companies have already begun to plan their
return to work in the office in mid-May 2020.
83% of the Customer Success Managers expects to
return to work in the office sometime in June and with the
latest estimated date of return to work in September.
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6
CUSTOMER SUCCESS
SURVEY FINAL RESULTS
7
8
4
5. PANDEMIC’S IMPACT ON CUSTOMER ENGAGEMENT
Overall, 44% had seen an uptick in customer engagement,
whereas 37% indicated a lower customer engagement level.
% CSM
Responding
5
6. COVID-19’S IMPACT ON SUBSCRIPTION MODEL OR PAYMENT OFFERINGS
The majority of the survey participants indicated that their subscription
model and payment offerings were impacted by the pandemic
% CSM
Responding
6
7. PANDEMIC’S IMPACT ON RENEWALS AND UPSELL DEALS
About 60% reported a negative impact on customer retention
and upsell deals due to the pandemic
% CSM
Responding
7
8. PANDEMIC’S IMPACT ON SALES AND RETENTION FORECAST FOR 2020
Over 50% reduced their forecast for new business deals. 46% reduced
upsell/cross-sell projections by less than 25%; 20% cut renewal forecast
numbers by 25 to 50%.
8
9. PANDEMIC'S IMPACT ON SALES AND CUSTOMER SUCCESS
25% has had a positive impact on the conversion & upselling of new
pipelines while 50% had no change in cross-selling.
9
10. CUSTOMER SUCCESS MANAGERS’ CONCERN
OVER JOB LOSS DUE TO THE PANDEMIC
Only 25% of customer success managers believe their job
is at risk due to the pandemic
% CSM
Responding
10
11. PLANS TO HIRE ADDITIONAL
CUSTOMER SUCCESS MANAGERS
DURING THE PANDEMIC
30% of customer success organizations planned to hire
additional CSMs during the pandemic.
% CSM
Responding
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12. THE LEVEL OF PERSONAL CONCERN REGARDING
THE PROSPECTS OF RETURNING TO WORK
In the first weeks of May 2020, the majority of customer success
were not highly concerned about the prospects of returning to work
from the office
% CSM
Responding
Not
concerned
Highly
concerned
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13. PLANS TO RETURN TO WORK IN OFFICE POST “IN-SHELTER” PERIOD
39% of SaaS companies have already started making plans
for returning to work in the office mid May 2020.
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14. CSM Practice is the leading customer success strategy consulting rm.
We help companies effectively deal with the COVID-19 impact through
effective customer processes optimization & customer communication initiatives.
Does your Customer Success team need support in this COVID-19 crisis?
is here to help!
TALK TO US