Special Workshop Tuesday: The Future of Customer Success in 2024 with Gainsight and SaaStr
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Special Workshop Tuesday: The Future of Customer Success in 2024 with Gainsight and SaaStr Speakers: Nick Mehta, Gainsight CEO and Jason Lemkin, SaaStr CEO
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Special Workshop Tuesday: The Future of Customer Success in 2024 with Gainsight and SaaStr
- 1. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. WELCOME NICK MEHTA CEO, Gainsight JASON LEMKIN CEO & Founder, SaaStr
- 2. Nick Mehta CEO WHO’S FIRED UP?
- 3. Nick Mehta CEO Nick Mehta CEO … TO TALK ABOUT THE FUTURE?
- 4. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. ICE BREAKER What was your New Year’s Resolution?
- 5. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. TOP 5 PREDICTIONS
- 6. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. “I never think of the future. It comes soon enough.” - Albert Einstein
- 7. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. Mistake 1 GRR and NRR Make a Mild Comeback PREDICTION #1
- 8. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL.
- 9. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. Mistake 1 Vendor Consolidation Continues PREDICTION #2
- 10. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. 84% 82% 83% 78% “I would prefer to purchase one tool to solve multiple business problems than multiple tools” AGREE AGREE AGREE AGREE “It is important to me that the software I buy integrates with tools I already have” “I prefer to renew a product than switch to a new vendor” “I like to buy complementary products from a single vendor I already work with” The Market is CRAVING SIMPLICITY Source: G2 Top 4 B2B Software Buyer Behavior Trends for 2023
- 11. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. Mistake 1 CSM Hiring Doesn’t Bounce All the Way Back — Efficiency Still Matters PREDICTION #3
- 12. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL.
- 13. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL.
- 14. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. Mistake 1 Customer Success Scales Through Clients and GTM Team PREDICTION #4
- 15. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL.
- 16. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. We Need to Help CS SHIFT LEFT.
- 17. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. 01 02 03 04 05 Acquire Onboard Adopt Renew Expand WHERE CS STARTS
- 18. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. 01 02 03 04 05 Acquire Onboard Adopt Renew Expand UPSELL, X-SELL, CSQL + An Experience that Delivers Value
- 19. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. Mistake 1 AI Goes Mainstream in Customer Success PREDICTION #5
- 20. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. What brings you joy in your CSM job?
- 21. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. What causes you frustration or dissatisfaction in your CSM job?
- 22. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. BONUS!
- 23. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. Mistake 1 PREDICTION #6
- 24. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL.
- 25. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. Mistake 1 JASON’S PREDICTIONS #1. There is a general sense among the leaders in sales software that we will end up with fewer, better SDRs, and that the majority of email and follow-up will be done with AI. #2. Customer Success has in many cases morphed into part of the sales team. And with that, the classic role of making customers happy with humans is in retreat. #3. Everyone wants to eliminate humans from support, and replace that headcount with AI and bots. Everyone now. #4. SaaS companies now have to be radically more efficient. There may be limited energy to reverse many changes.
- 26. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL.
- 27. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. Customer Education Digital and Scaled CSM Customer Adoption CUSTOMER PLATFORM SUPPORT MARKETING SALES PRODUCT FINANCE CUSTOMER SUCCESS Customer 360 Customer Hub Customer Communit y AI Horizon AI
- 28. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. THANK YOU!
- 29. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL. © Copyright 2023, Gainsight, Inc., All rights reserved. CONFIDENTIAL.
Editor's Notes
- Nick: who’s fired up?!
- Nick: to talk about failure??
- 2023 was brutal from a metrics perspective. Alongside decelerating new logo bookings growth, most companies experienced a slowdown in expansion and an increase in churn. Younger startups saw their technology “purged” from client budgets, who saw new tech as a nice to have. More mature companies withstood cuts but dealt with “downsell” between procurement departments asking for discounts and overly-ambitious 2021 purchases turning into cuts in unused entitlements. With all of this resetting, there is no real way to go but up from here, in terms of GRR and NRR
- That being said, customers don’t want to go back to the world of 10 SaaS products per employee. So they will continue to prioritize vendors who can offer more complete solutions and replace point products.
- While vendors will need to grow CSM headcount again (after net zero hiring over the last year), they won’t scale teams at the same rate as revenue growth. The focus on SaaS profits won’t go away, so “leverage” (revenue grows faster than costs) still matters. Due to this, companies will prioritize ways to drive efficiency like Digital-first Customer Success.
- CS can't scale (first graph from board deck about CS hiring flat) -
- Customers continue to want more of an ability to “self serve.” This will extend beyond tactical support use cases to “self-service Customer Success.” This includes everything from using peer-to-peer community to drive adoption and value, refocusing training teams from margin optimization to customer outcomes and creating onboarding and success plans collaboratively with clients.
- In short, we need to help CS shift left in the customer lifecycle.
- What does “Shift Left” mean? Traditional CS often starts during onboarding, after a customer has been acquired, implemented, and is in or just finishing the onboarding process.
- We have an opportunity to “shift left” earlier in the customer lifecycle and influence even more of the customer experience - generating new revenue through upsell, x-sell and CSQLs - while delivering a better customer experience that offers even more customer value.
- The ROI of Generative AI in terms of reducing manual CSM work and automating processes will become real. CSM processes will move from note taking and data entry to the work they love - client relationships and outcome delivery.
- Bonus
- Taylor Swift and Travis Kelce
- Jason’s predictions