The Earlier the Better: How Customer Success Compounds Your Growth with ChurnZero
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Alli Tiscornia, Chief Customer Officer @ ChurnZero If you’re only investing in sales and marketing, you’re missing a huge revenue opportunity. Customer Success isn’t just for established leaders; it also helps growth-stage companies compound their growth through retention, upsell and expansion. Learn why earlier is better, and how to build a CS team that scales for the future.
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The Earlier the Better: How Customer Success Compounds Your Growth with ChurnZero
- 1. The Earlier the Better How Customer Success compounds growth Allison Tiscornia Chief Customer Officer ChurnZero @churnzero 1
- 2. Customer success is a revenue driver not a happiness team
- 3. Why start early? ● It costs 5X times more to acquire a customer than to keep one* ● Increasing retention by 5% can increase revenue by 95%** ● Successful renewals start at implementation *HBR **Frederick Reichheld, Bain and Company 3
- 4. Your competitors are leveraging Customer Success as a competitive advantage 75% of established CS teams own renewals, expansion, and adoption 2022 TSIA Customer Success Benchmark data
- 5. When to start customer success? ● During Series A ● Once product market fit is established, renewals matter ● Customer Success is GTM 5
- 6. What the team looks like ● How many CSMs? 1 CSM = $1m – 1.5m ARR ● Who do they report to? It depends ● Who do I hire? That depends too! ● Key metrics? GRR, NRR, logo retention 6
- 7. Scaling your Customer Success team ● When do we hire our first CS manager? At 4-5 CSMs. ● When do we add specialist functions? When you hire your first CS Manager. ● What else is important? Differentiate CS from support early. 7
- 8. Keep customers. Drive revenue. Improve the customer experience.
- 9. Thank you Allison Tiscornia Chief Customer Officer ChurnZero @churnzero
Editor's Notes
- Ground rule to remember – Customer success is a revenue driver not a happiness team. Once you understand this, creating a team is a no-brainer.
- Why start Customer Success early? Because Customer Success can transform your SaaS business. First reason: It’s at least five times more expensive to acquire a new customer than it is to keep one. Second reason: Successful renewals start after implementation. We can predict the likelihood of customers to renew as soon as this. You’re selling one-year deals. It takes maybe 90 days to show value. Renewal conversations need to start after just six months.
- When is it time to start scaling your Customer Success team? Hire a CS manager once you have 4 to 5 CSMs. If you’re combining CS and support, hire when you have 5. Specialist functions: this depends on how complicated the product is. You need to differentiate CS from Support as quickly as you can. Remember, support is transactional; CS is relationship-driven.
- When is it time to start scaling your Customer Success team? Hire a CS manager once you have 4 to 5 CSMs. If you’re combining CS and support, hire when you have 5. Specialist functions: this depends on how complicated the product is. You need to differentiate CS from Support as quickly as you can. Remember, support is transactional; CS is relationship-driven.