A new paradigm known as Customer Success management (CSM) is exploding in popularity among B2B enterprises, and especially among SaaS companies that depend on recurring subscription revenue to sustain business growth. It's not uncommon for these companies to get a majority of their revenue from existing clients (renewal and up-sell), which means that customers who churn after an initial contract purchase can have a huge impact on a company's long-term financial prospects.
Mainstay discusses how investments in CSM have been accelerating as business leaders recognize that ensuring customer success may be the single most important driver of business performance.
With 2015 budget planning wrapping up this month, companies are allocating spend on developing and growing their Customer Success footprint. With so many variables such as headcount, quotas, technology and events, how can you ensure that you’ve built a bulletproof strategy going into next year?
See how leading subscription businesses are planning to:
1. Budget for hiring and scaling a CSM team that maps to company performance and account models.
2. Justify the procurement of Customer Success technology with an ROI multiplier on revenue.
3. Consider other Customer Success investments in education and networking to transform their teams into best in class.
Customer Success: The Secret to Subscription Success and the Metrics that MatterGainsight
Did you know? Less than a 1/3 of companies are able to accurately measure and manage churn – the critical metric for subscription businesses.
The challenges are numerous – from emerging roles and responsibilities to inadequate technology stacks built for transactional business models. Fortunately, successful SaaS pioneers have honed their processes and owe success in part to carefully managing a new class of metrics. From survey data, we’ll show you what you need to know as your company scales.
Join Gainsight and Pacific Crest Securities for a live webinar on 2/25 at 10:00 AM PT to learn:
How you stack up against high-performing SaaS companies across a variety of areas
Which metrics a Customer Success team and leader need to start measuring and managing
What you need to do to prepare for public market scrutiny
When: February 25, 10:00 AM PST
Who:
David Spitz, Managing Director, Software & Security at Pacific Crest Securities
Lincoln Murphy, Customer Success Evangelist at Gainsight
Simplifying the Complexities of Customer Success in the EnterpriseTotango
How do you manage customer success if your company sells multiple products into accounts? Across multiple regions? Or through a variety of resellers? All these variables can make your goal - delivering value to all product end-users - a challenge.
Watch this webinar to hear from customer success veteran, Catherine Blackmore, GVP of Customer Success at Oracle Marketing Cloud, to learn why so many enterprise organizations struggle with simplifying customer success processes, managing all customers, and being able to accurately forecast recurring revenue. She is followed by Guy Nirpaz, CEO of Totango, who shares how enterprise organizations can break down the complexity by gaining visibility into all levels of their account relationships to grow revenue and drive greater product value and adoption.
About Totango:
Totango is a customer success platform that helps recurring revenue businesses simplify the complexities of customer success by connecting the dots of customer data, actively monitoring customer health changes, and driving proactive engagements. Leading companies use Totango to reduce churn, grow predictable revenue, and maximize customer value over time.
With 2015 budget planning wrapping up this month, companies are allocating spend on developing and growing their Customer Success footprint. With so many variables such as headcount, quotas, technology and events, how can you ensure that you’ve built a bulletproof strategy going into next year?
See how leading subscription businesses are planning to:
1. Budget for hiring and scaling a CSM team that maps to company performance and account models.
2. Justify the procurement of Customer Success technology with an ROI multiplier on revenue.
3. Consider other Customer Success investments in education and networking to transform their teams into best in class.
Customer Success: The Secret to Subscription Success and the Metrics that MatterGainsight
Did you know? Less than a 1/3 of companies are able to accurately measure and manage churn – the critical metric for subscription businesses.
The challenges are numerous – from emerging roles and responsibilities to inadequate technology stacks built for transactional business models. Fortunately, successful SaaS pioneers have honed their processes and owe success in part to carefully managing a new class of metrics. From survey data, we’ll show you what you need to know as your company scales.
Join Gainsight and Pacific Crest Securities for a live webinar on 2/25 at 10:00 AM PT to learn:
How you stack up against high-performing SaaS companies across a variety of areas
Which metrics a Customer Success team and leader need to start measuring and managing
What you need to do to prepare for public market scrutiny
When: February 25, 10:00 AM PST
Who:
David Spitz, Managing Director, Software & Security at Pacific Crest Securities
Lincoln Murphy, Customer Success Evangelist at Gainsight
Simplifying the Complexities of Customer Success in the EnterpriseTotango
How do you manage customer success if your company sells multiple products into accounts? Across multiple regions? Or through a variety of resellers? All these variables can make your goal - delivering value to all product end-users - a challenge.
Watch this webinar to hear from customer success veteran, Catherine Blackmore, GVP of Customer Success at Oracle Marketing Cloud, to learn why so many enterprise organizations struggle with simplifying customer success processes, managing all customers, and being able to accurately forecast recurring revenue. She is followed by Guy Nirpaz, CEO of Totango, who shares how enterprise organizations can break down the complexity by gaining visibility into all levels of their account relationships to grow revenue and drive greater product value and adoption.
About Totango:
Totango is a customer success platform that helps recurring revenue businesses simplify the complexities of customer success by connecting the dots of customer data, actively monitoring customer health changes, and driving proactive engagements. Leading companies use Totango to reduce churn, grow predictable revenue, and maximize customer value over time.
5 Steps to Apply Deloitte’s Customer Service Delivery Model in SaaSQuekelsBaro
Use the 5 steps given in this article to reform your customer service delivery model. Apply Deloitte's five new capabilities to mitigate market disruptions.
A critical guide to selecting metrics to define a data-driven customer success strategy. Here is the table of contents:
- Metrics are for Decisions
- The Nature of Metrics
- Metrics Can Be Difficult
- Customer Success Metrics
Customer Lifetime Value (CLV)
Customer Churn Rate
Net Promoter Score (NPS)
Customer Health Score
Support Ticket Volume
Customer Log-in Counts Customer Acquisition Cost (CAC)
Product Activity Score
CSM Subjective Score
Customer Newsletter CTR
Background Signals
Ransys Feedback Technology is a leading global provider of Enterprise Feedback Management solutions that has developed Attentive ACE® (Attentive® Customer Experience); a platform that allows organizations to reduce costs by managing all of their feedback needs using one consolidated feedback platform.
Attentive ACE® is a daily operational tool for front line mangers that improves employees’ and customers’ engagement by utilizing the voice of the customer at the right time and place. Attentive ACE® built-in coaching, recovery, and change requests workflows, which are based on aggregated front line managers’ conclusions and recommendations, drives higher customer satisfaction, loyalty and retention and leads to operational cost savings and improved revenues.
How to Automate Low Touch Customer SuccessGainsight
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation - How to Automate Low Touch Customer Success - is from Pulse 2014, the biggest Customer Success industry event ever and included panelists from Blackbaud, Huddle, New Relic
Justifying the Investment for Customer Success TechnologyTotango
Traditionally, CRM systems were designed around sales and service. In the new realities of recurring revenue business models, in which customer value spans beyond a one-time sale, enterprises are now faced with challenges of retention, upsell and optimizing the entire revenue cycle.
In this webinar, Guest Speaker Kate Leggett, VP, Principal Analyst from Forrester Research and Guy Nirpaz, Totango Co-Founder & CEO and the author of “Farm Don’t Hunt - The Definitive Guide to Customer Success” discuss:
- A reality in which CRM systems need to span beyond sales and service in the subscription economy
- The emergence of Customer Success Technology that allows companies to focus on customers
- Ways to optimize the entire revenue cycle Customer Success, as a model and methodology, represents an opportunity for enterprises to break down the silos of customer data and business processes.
Learn how this will lead to operational improvements around customer centricity and growing recurring revenue.
Executing a Billion Dollar Customer StrategyBill Lee
Our newest publication on building a robust customer strategy. This is a major missing link in most firms trying to engage with today's empowered buyers and customers. Both the C-suite, and executives and managers executing the firm’s total customer experience (TCE) operations will want to ready this carefully.
Why do you need a good onboarding strategy? A successful onboarding program can drive adoption, resulting in lower customer attrition and higher customer satisfaction. No matter what a customer’s first touchpoint with your brand is, focus on using the momentum of that first experience to deepen the relationship and future success.
Learn More about The Future is Now webinar series.
Link: http://pages.exacttarget.com/thefutureisnow
Converge your business into a Customer Centric Experience, Customer first is the focus strategy on Customer Intimacy. By using (big) Data, 3rd party data, connecting data for real time transparency, analyze habits, filter needs, offer solutions, increase ROI . By implementing the right technology, you create the best customer intimacy with marketing, technology and creativity. What are you waiting for?
10 Examples of Exit Popups Used as a Customer Retention StrategyMihail Savov
A customer retention strategy is a must for every business. Acquiring customers might grow a company, but keeping them from leaving is what leads to better revenue. Here, we will share 10 examples of exit popups that are designed to stop users from leaving your website.
Original post: https://isenselabs.com/posts/customer-retention-strategy-10-appealing-exit-popups-with-discount-hooks
Customer Success Management is all about pro-actively making sure your customers get value from their relationship with you. You need to do this to reduce your risk of churn and maximize your profits.
But how will you do it? How do you make sure your CSM efforts are successful? And how do you do it in a way that is cost effective?
5 Steps to Apply Deloitte’s Customer Service Delivery Model in SaaSQuekelsBaro
Use the 5 steps given in this article to reform your customer service delivery model. Apply Deloitte's five new capabilities to mitigate market disruptions.
A critical guide to selecting metrics to define a data-driven customer success strategy. Here is the table of contents:
- Metrics are for Decisions
- The Nature of Metrics
- Metrics Can Be Difficult
- Customer Success Metrics
Customer Lifetime Value (CLV)
Customer Churn Rate
Net Promoter Score (NPS)
Customer Health Score
Support Ticket Volume
Customer Log-in Counts Customer Acquisition Cost (CAC)
Product Activity Score
CSM Subjective Score
Customer Newsletter CTR
Background Signals
Ransys Feedback Technology is a leading global provider of Enterprise Feedback Management solutions that has developed Attentive ACE® (Attentive® Customer Experience); a platform that allows organizations to reduce costs by managing all of their feedback needs using one consolidated feedback platform.
Attentive ACE® is a daily operational tool for front line mangers that improves employees’ and customers’ engagement by utilizing the voice of the customer at the right time and place. Attentive ACE® built-in coaching, recovery, and change requests workflows, which are based on aggregated front line managers’ conclusions and recommendations, drives higher customer satisfaction, loyalty and retention and leads to operational cost savings and improved revenues.
How to Automate Low Touch Customer SuccessGainsight
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation - How to Automate Low Touch Customer Success - is from Pulse 2014, the biggest Customer Success industry event ever and included panelists from Blackbaud, Huddle, New Relic
Justifying the Investment for Customer Success TechnologyTotango
Traditionally, CRM systems were designed around sales and service. In the new realities of recurring revenue business models, in which customer value spans beyond a one-time sale, enterprises are now faced with challenges of retention, upsell and optimizing the entire revenue cycle.
In this webinar, Guest Speaker Kate Leggett, VP, Principal Analyst from Forrester Research and Guy Nirpaz, Totango Co-Founder & CEO and the author of “Farm Don’t Hunt - The Definitive Guide to Customer Success” discuss:
- A reality in which CRM systems need to span beyond sales and service in the subscription economy
- The emergence of Customer Success Technology that allows companies to focus on customers
- Ways to optimize the entire revenue cycle Customer Success, as a model and methodology, represents an opportunity for enterprises to break down the silos of customer data and business processes.
Learn how this will lead to operational improvements around customer centricity and growing recurring revenue.
Executing a Billion Dollar Customer StrategyBill Lee
Our newest publication on building a robust customer strategy. This is a major missing link in most firms trying to engage with today's empowered buyers and customers. Both the C-suite, and executives and managers executing the firm’s total customer experience (TCE) operations will want to ready this carefully.
Why do you need a good onboarding strategy? A successful onboarding program can drive adoption, resulting in lower customer attrition and higher customer satisfaction. No matter what a customer’s first touchpoint with your brand is, focus on using the momentum of that first experience to deepen the relationship and future success.
Learn More about The Future is Now webinar series.
Link: http://pages.exacttarget.com/thefutureisnow
Converge your business into a Customer Centric Experience, Customer first is the focus strategy on Customer Intimacy. By using (big) Data, 3rd party data, connecting data for real time transparency, analyze habits, filter needs, offer solutions, increase ROI . By implementing the right technology, you create the best customer intimacy with marketing, technology and creativity. What are you waiting for?
10 Examples of Exit Popups Used as a Customer Retention StrategyMihail Savov
A customer retention strategy is a must for every business. Acquiring customers might grow a company, but keeping them from leaving is what leads to better revenue. Here, we will share 10 examples of exit popups that are designed to stop users from leaving your website.
Original post: https://isenselabs.com/posts/customer-retention-strategy-10-appealing-exit-popups-with-discount-hooks
Customer Success Management is all about pro-actively making sure your customers get value from their relationship with you. You need to do this to reduce your risk of churn and maximize your profits.
But how will you do it? How do you make sure your CSM efforts are successful? And how do you do it in a way that is cost effective?
Ensure Customer Success with Voice of the CustomerGainsight
Did you know? 59% of companies believe that their VoC strategy will reduce customer churn yet only 10% of companies have fully deployed programs.
The challenges are numerous – from non-representative responses to no followup levers. Fortunately, Customer Success strategies have emerged to provide the natural complement to close the loop on VoC programs.
In these slides, we cover:
+ How VoC can be a leading indicator of customer success and growth
+ What VoC strategies are necessary for your business structure, response goals, and customer segments
+ How to make VoC data representative and actionable within a Customer Success solution
How to measure your success as a Customer Success ManagerAmity
As CSMs, we can usually rattle off a number of metrics and statistics that we use to measure our customer's health and success -- but it gets a little less standardized when others ask us how we measure our own success. Renewals and churn are both important metrics to keep an eye on, but they're not the only ones.
In this webinar, we’ve partnered with Sparkcentral to discuss:
- The benefits of a top-down approach when re-evaluating CS team goals
- The importance of CSAT metrics
- Which KPIs to measure if Account Management and CS roles are combined
- Which questions to ask yourself when exploring and assessing your team’s current KPIs and goals
Join Krysta Gahagen and Julia Burnett, two Customer Success Managers from Sparkcentral, for the rundown of which KPIs are truly key for CSMs, and why.
Customer Success University launches June 30, 2014 with the first course: Customer Success Management 101.
This self-paced course, made up of 12 lessons developed by top Customer Success experts, provides you with the critical foundation for a career as a Customer Success Manager.
CSM101 is step one of three on the way to becoming a Certified Customer Success Manager.
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
Totango's 4th Annual SaaS Metrics Survey Report. This year's key take-away underscores the importance of customer success in the SaaS business model – and why it is imperative for SaaS companies to be relentlessly focused on boosting retention and increasing customer upsells in order to increase revenue.
Forrester Research: How the Customer Success Industry is EvolvingGainsight
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation by Forrester Research - How the Customer Success Industry is Evolving - is from Pulse 2014, the biggest Customer Success industry event ever.
How to Scale Your Customer Success Management OrganizationGainsight
The most successful Enterprise SaaS companies know that growing revenue only through new customer acquisition is the less efficient way to scale. Rather, they understand that growing revenue within your existing customer base - through up-sells, cross-sells, and expanded use - is the most profitable way to scale.
In fact, Enterprise SaaS companies that grow revenue - and company valuation - by expanding revenue within their existing customer base also know the key to making this work is to focus on - and operationalize - Customer Success.
This presentation - How to Scale Your Customer Success Management Organization - is from Pulse 2014, the biggest Customer Success industry event ever and included panelists from Box, Marketo, Salesforce.com
This template will help you codify your customer success strategy. You can read the blog post and download the template here: http://blog.preact.com/customer-success-strategy-template
From customer success metrics to the customer journey, and from the customers' critical path to your customer success team, this template enables you to present your vision to your executive team.
How (and When) to Hire a Great VP of Customer Success Management CSMGainsight
The VP of Customer Success role has become one of the hottest hiring priorities for companies in the Subscription Economy. Although the impact is now widely recognized, businesses still struggle with identifying the right time to bring on a CSM leader, and furthermore, how to recognize truly great candidates.
Join a lively conversation between Nick Mehta, CEO at Gainsight, Tomasz Tunguz, Partner at Redpoint Ventures, and Monica Adractas, VP of Customer Success and Retention at Box as they share how (and when) to hire a great VP of Customer Success.
In this webinar, you’ll learn:
- How data supports hiring a VP Customer Success earlier in the company lifecycle
- What the key characteristics of greatness are and how to identify them early
- How maturing companies have evolved the VP Customer Success role to meet the changing needs of their customer base
Featuring: Tomasz Tunguz, Partner at Redpoint Ventures; Monica Adractas, VP of Customer Success and Retention at Box; and Nick Mehta, CEO at Gainsight
The Definitive Guide to Customer Success 2017Lincoln Murphy
The Customer Success movement has taken the SaaS industry by storm, even requiring an updated SaaS Business Model definition.
But what exactly is Customer Success? Is it an organizational mindset? Is it a corporate strategy? Is it a set of tactics designed to produce happy, successful customers that in turn creates success for you, the SaaS vendor?
The answer is... all of the above.
In this guide I've enumerated 17 key elements of Customer Success for SaaS companies. I hope it helps you reach your goals.
Every year we take the opportunity to run a comprehensive survey of professionals at SaaS companies ranging from early startups to established businesses with over $100M in revenue. Our aim is to better understand the key performance indicators used by SaaS companies to run their business.
For the 2016 SaaS Metrics survey report, we have added several questions based on the comments and responses over the years. New topics covered this year include company spending on customer retention and the definition/measurement of customer health.
Sales levers SAM commercial reconnaissance electronic flyer July 2020richardhigham
Strategic accounts present significant opportunities but high risks. A SAM Commercial Reconnaissance will give you a clear picture about where you stand today and how you might capitalise on your SAM strengths.
Understanding the Financial Health of your Subscription BusinessTotango
Industry leaders, Zuora and Totango, present which metrics truly give an accurate picture of the health of your subscription business. Which metrics should you calculate and optimize on - ARR, GEI, CRC or other ratios?
Chief Financial Officer, Tyler Sloat from Zuora shares 3 metrics they measure for their company and track against other best-in-class subscription companies. Chief Marketing Officer, Kaiser Mulla-Feroze from Totango, also presents a couple key metrics he finds missing from the boardroom discussions.
Visit totango.com to view the entire webinar and hear their insightful commentary that accompanies these slides and Q&A.
Making Metrics Matter: An investigation of sales-aligned marketing reporting...Remen Okoruwa
31 HubSpot Marketing Agency Partners share details on how they report on the metrics that matter most to clients, and the challenges they face in reporting.
Whitepaper: Using Technology to Manage and Optimize Incentive CompensationIconixx
In today’s complex business environment, companies increasingly struggle to manage their plans across hundreds or thousands of product lines, customers, territories and employees. Consequently, companies from all industries are using Incentive Compensation Management (ICM) technology to manage and optimize their compensation plans.
Customers are the heart and soul of every organization. As a company grows, it becomes increasingly important to streamline processes while improving the customer experience.
For many companies resolving customer issues and seeking areas for improvement is labor intensive, manual, and unstructured. Statistically, inefficiencies like these increase costs and decrease overall company profitability.
The cost to acquire one dollar of new customer Annual Recurring Revenue (ARR) is $1.60., while the cost to expand an existing customer is only 69 cents. To successfully drive real growth for your business, you must focus on preserving and expanding the customers you already have.
Despite the obvious advantages of mastering and scaling the renewal process as SaaS companies grow, renewals still pose a big challenge for most. Some of the renewal management challenges for many businesses include:
- Craft a compelling RFP Executive Summary that includes quantified measures of business impact and KPIs.
- Prepare a Business Value Assessment (BVA) of their existing solution’s business value.
- Executive-ready presentation that is included as an appendix to the RFP.
- Providing existing RFP customers with a “cost to conduct an RFP” calculator.
- Estimate the full cost of going out to multiple RFPs.
Working with the Mainstay team, the Cisco IOT Manufacturing Marketing team combined research from manufacturing trade associations, management consulting research and an internal benchmarking project to create an Executive Briefing Presentation that would educate CxOs on the opportunities IOT can provide. This content was also repurposed to create a manufacturing IOT whitepaper to provide an asset to entice prospective customers to consider Cisco’s IOT offerings.
Kofax turned to Mainstay to help define the key value drivers and impact levels to help promote their Claims Automation Solution. Working closely with Kofax’s product team and working with key customer references, Mainstay was able to build a very compelling infographic that provides a simple, rapid way to digest a very complex solution.
Mainstay was introduced to Bluewolf through their relationship with Oracle and brought our team in to help capture the business value story at Kele. Working with the Bluewolf sales team and the Kele project sponsor, Mainstay was able to develop a quantitative view of the business value achieved. The story focused on the impact of developing a marketing automation solution to benefit Kele’s customers by providing greater customer support and a deeper partnership with their clients.
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
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Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
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Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Mainstay - Measuring the ROI of Customer Success Management Solutions
1. Measuring the ROI of
Customer Success Management Solutions
WHITE PAPER
2. Measuring the ROI of Customer Success Management Solutions WHITE PAPER
1
A new paradigm known as Customer Success Management (CSM) is exploding in
popularity among business-to-business (B2B) enterprises, and especially among
Software-as-a-Service (SaaS) companies that depend on recurring subscription revenue
to sustain business growth. It’s not uncommon for these companies to get a majority of
their revenue from existing clients (renewal and up-sell), which means that customers
who churn after an initial contract purchase can have a huge impact on a company’s
long-term financial prospects.
Consequently, more B2B enterprises are focusing on maintaining high customer
retention levels and reducing the churn in their customer base. But boosting retention
requires comprehensively managing the satisfaction and success of customers, keeping
all health metrics up to date, and moving proactively when warning signs appear in
any given account. This can be a complex assignment, and even more so for SaaS
companies that are growing rapidly and onboarding scores of new customers in the
cloud on a daily basis.
Dozens of metrics come into play when managing customer success — everything from
product usage to net promoter scores (NPS) to contract and billing data — and companies
need access to this intelligence early to know when an account could be in trouble.
Typically when a customer is unhappy or simply not using the product, companies find
out late in the game, when customers have already decided to end the relationship.
It remains true that the cost of retaining an existing customer is always lower than
finding a new one; and once lost, a customer’s lifetime revenue stream is usually gone
forever. It is not surprising therefore that more companies have launched CSM initiatives,
and why a growing number are adopting automated CSM technology, best practices,
and data science from providers like Gainsight.
Key Findings
In this study, we interviewed a number of fast-growing companies that invested in
Customer Success Management to improve customer retention, uncover selling
opportunities, and boost the lifetime value of their customer base. Many of these
companies started with “manual” CSM programs — that is, by simply hiring people
tasked with paying attention to customer success. However, the manual approach ran
into bottlenecks, causing companies to turn to solutions like Gainsight that provides
automated tracking, reporting, and alert systems that significantly extend the reach and
effectiveness of their CSM programs. Figure 1 summarizes the findings of the study,
which documented a range of benefits from investing in automated CSM solutions.
Executive Summary
Table of Contents
EXECUTIVE SUMMARY 1
Key Findings 1
REVENUE LIFT 2
Manual CSM Programs 3
Automated CSM Boosts
Retention and Revenue 3
Up-sell and Cross-sell Impact 5
Estimated $11 Million Revenue
Impact Over Three Years 5
OPERATING SAVINGS 6
PRODUCTIVITY BOOST 7
CONCLUSION 9
Investments in Customer Success
Management (CSM) have been
accelerating as business leaders
recognize that ensuring customer
success may be the single most
important driver of business
performance. In this study, we
break down the value proposition
of CSM and quantify the revenue
improvements and cost savings
reported by companies that have
adopted Gainsight’s CSM solution.
3. Measuring the ROI of Customer Success Management Solutions WHITE PAPER
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Figure 1. Gainsight drives $16 million in bottom line impact over three years per customer
“Customer revenue
saved using Gainsight
has valuable ROI.
Between the just-in-time
identification of
at-risk customers in
order to intervene
and improved staff
efficiency using the
technology, we’ve
paid for the Gainsight
solution several times
over so far.”
– Chris Cabrera,
CEO at Xactly
REVENUE LIFT
In our study, every company that adopted Customer Success Management programs reported a significant boost in
sales revenue as it retained more customers and sold more products and services to existing customers. Revenue
was on track to increase by more than $11M over a three-year period.
Companies noted that revenue lift was clearly the most compelling reason for adopting CSM programs, whether
manual or automated. However, companies said they saw significantly greater lift with CSM automation tools like
Gainsight. Both approaches — manual and automated CSM solutions (Gainsight) — are evaluated below, drawing on
interviews with more than a half dozen companies that adopted CSM programs and solutions. Many of these companies
started with manual CSM initiatives and later augmented the programs with automated solutions such as Gainsight.
Healthcare company saves $1.8M annually with Gainsight
This fast-growing SaaS company serves the healthcare industry with an innovative staff-scheduling solution.
Its 1,000-strong customer base includes households, small businesses and large enterprises, but many are
new to technology solutions, so onboarding and retention can be a challenge. The founders realized that
without adopting Customer Success Management, customer churn could hit double-digits. The company chose
Gainsight for its superior analytics and insight and immediately integrated the solution into its cloud-based
scheduling platform.
Positive results followed: the company cut customer churn rates by 50% and generated 10% more cross-sell
leads, half of which were converted to additional revenue. It also used the solution to cut operating overhead.
Instead of needing a team of 30 customer success personnel, the company fields a lean team of seven
managers, saving $1.8M per year. Intelligence from Gainsight is also helping the company find more effective
ways of segmenting and targeting its customer base to boost sales.
$3.3M
$1.2M
$1M–$5M
80% reduction
100
(a 250% increase)
1,200
(a 300% increase)
Annual $ Impact
Reduce Churn
and Drive
Upsell Revenue
Scale
Customer
Success Team
Strengthen
Customer
Engagement
Reduce churn
and increase revenues
Increase cross-sell/up-sell revenues
Reduction in CSM staff size/
Report preparation effort savings
Retention effort savings
from early at-risk detection
More valuable interactions—increase
number of customer success metrics
reported per customer report
Number of customer outreaches
Benefit Category Benefit Description
4. Measuring the ROI of Customer Success Management Solutions WHITE PAPER
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Manual CSM Programs
Many of the companies interviewed started on the path of Customer Success Management by hiring people
specifically tasked with reaching out to customers, gauging satisfaction levels, and generally trying to avert
defections through early intervention. By “manual” we mean that these efforts involved significant amounts of
legwork, manual data collection, and hand-built tracking tools such as spreadsheets.
Manual CSM initiatives are difficult to scale because they lack the automation needed to easily collect a
range number of customer success metrics across the entire customer base and monitor them continuously.
On average, companies using manual methods covered about a quarter of the customer base; collected less
than 30 measures of customer success, and reached out to a relatively modest number of customers in total.
Nevertheless, these labor-intensive CSM efforts generated measurable value, the study showed, delivering a
revenue uptick by helping companies avert defections among a portion of the customer base. However, manual CSM
programs were also shown to have a number of limitations. In particular, companies were found to miss signs of
dissatisfaction — such as product non-usage — in the early days of the customer lifecycle. This is because new
customers are easily overlooked by account managers who prefer to focus on bigger customers that have been
around awhile. Yet these new accounts are precisely the customers that hold the most potential for future sales.
Automated CSM Boosts Retention and Revenue
Each customer we studied adopted Gainsight’s Customer Success Management solution, in many cases to build
upon early non-automated CSM efforts. All of the companies in the study reported a significant revenue lift after
moving to Gainsight, with executives attributing the gain to reducing customer churn. On average companies in
the study reduced churn to about 2–3%, a 5–10 times reduction from before Gainsight.
Automated CSM solutions reduced churn and improved retention for a number of reasons, companies reported:
• Timely alerts. The automated CSM solution (Gainsight) automatically issues alerts when customers show
signs of dissatisfaction, especially during the critical first 90 days. The alerts helped companies act quickly
and more effectively to stem defections — and required only one-fifth the effort compared to manual efforts.
• More performance metrics. Companies using Gainsight’s CSM automation solution had access to more
than three times the number of metrics (from 30 to 100 metrics per report), providing a more holistic view
of customer satisfaction and retention, and allowed for more targeted communications.
“Before Gainsight,
customer retention
was a reactive activity,
with ‘management by
expiry date.’ There
were simply too
many surprises.”
– Performance
management company
Cloud-based demand-gen company enhances retention, set to realize $10M in
revenue enhancement
Marketing and demand generation is the focus of this SaaS company, which was recently acquired by a
global technology powerhouse. In the past, the company pieced together customer success reports within its
Salesforce.com CRM platform — but there were limitations, including excessive spending on CS-related staffing.
A move to Gainsight propelled the company to better performance, helping drive a five percentage point improve-ment
in retention rates, which should boost revenue by $10M over three years. The company also gained
control over its operating expenses, leveraging the automated CSM solution to cut $3M in CSM-related costs.
Today the company can not only generate twice the number of customer success reports but also more relevant
metrics, and is leveraging more insights to target early-cycle customers who are most likely to drop out.
PROFILE OF
COMPANIES STUDIED
• Average customer
base: between 1,400
and 4,500 customers
• Average revenue per
customer before CSM:
$4K per month
5. Measuring the ROI of Customer Success Management Solutions WHITE PAPER
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• Higher levels of engagement. CSM automation enabled companies to touch more customers with
commu-nications, visits, and pro-active interventions. On average, companies said they significantly boosted
engagements with customers, reaching 250% more customers with some form of outreach activity — from
900 to 2,800 outreaches per week on average.
Figure 2. Gainsight delivers wider coverage of the customer base, provides more metrics for better
retention efforts, and enables more customer interactions/outreaches
Figure 3. Gainsight reduces risk of churn with
proactive intervention in the first 90 days
“If issues are detected
early, it takes only
one-fifth to one-fourth
the effort to retain a
customer, all other
things being the same.”
– SaaS-based marketing
automation company
SaaS-based marketing automation company drives cross-sell revenue,
cuts operating expenses by $5M per year
This SaaS-based marketing automation company helps improve customer engagement. In the past it used a
number of manual tools to track customer success. The company believes it needs about 100 metrics to get
a full picture of customer health, and this can get very expensive to calculate manually.
Choosing Gainsight to automate Customer Success Management, the company cut overhead by reducing
CS report preparation time from hours to minutes, saving as much as $5M annually. The company has tripled
its customer outreaches, from 400 to 1200 per week, and is leveraging Gainsight to get early insights into
customer health. Especially valuable: the solution helped track and renew out-of-compliance customers,
which has resulted in a six-figure revenue addition each quarter.
First 90 Days >90 Days
Source: Mainstay Partners
Gainsight makes
it cost-effective
to monitor risk in
the first 90 days
With Gainsight
Manual
Likelihood of Churn
100%
Coverage
100
Metrics
2,800
Outreaches
25%
Coverage
0–30
Metrics
Number of
Customers Monitored
Number of
Metrics Reported
Number of
Customer Outreaches
700–900
Outreaches
After
Before
“The general assump-tion
is that large
customers need
attention. However, in
our case there are a
huge number of new
customers that are still
adopting the product
and therefore are at
high risk for churn. It is
expensive to service
these customers and
this is where Gainsight
automation helps.”
– Staffing automation
company
6. Measuring the ROI of Customer Success Management Solutions WHITE PAPER
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Up-sell and Cross-sell Impact
While greater customer retention rates drove revenue gains, companies also reported improvement in selling more
products and services to existing customers. Up-selling and cross-selling opportunities surged due to the wealth
of customer data provided by the CSM solution, which gave marketing and sales teams insights into what else
customers might be interested in. Simply communicating and interacting more with customers also generated
more leads and contributed to additional sales.
Gainsight’s usage-monitoring capability gave companies another avenue to sales: they could easily spot customers
who were continuing to use the product beyond the trial period or past the contract renewal date, triggering a sales
opportunity. The automated CSM solution also alerted companies when customers fell behind in doing required
software upgrades necessary to qualify for support and customer service — again triggering a sales opening.
One cloud-based marketing automation company told us that by helping track these out-of-compliance customers,
Gainsight has generated hundreds of thousands of dollars of revenue per quarter.
Estimated $11 Million Revenue Impact Over Three Years
WWhat is the total revenue lift that a company might expect from using an automated, cloud-based CSM solution?
The dollar value will depend on factors like company size, customer base size, and business model characteristics.
However, based on our interviews, we made a rough estimate by looking at an average SaaS company with
1,400 customers. Assuming that the Gainsight solution reduces churn by 5%, the company would retain 70 more
customers on an annual basis. Assuming annual revenues per customer of around $47,000, these additional
customers would contribute an extra $3.3M per year — or $10M over three years, according to our conservative
estimate based on interviews with Gainsight customers.
In addition to retention-driven revenue benefits, Gainsight provided insights and alerts that-enabled up-selling and
cross-selling (including compliance-related sales). One of the customers interviewed, a typical SaaS company,
added approximately $100,000 per quarter, or $1.2M over 3 years.
Performance management leader expects a 5% churn reduction and 10% up-sell lift
with Gainsight
This company’s cloud-based software helps businesses discover sales opportunities, increase visibility, and drive
revenue growth. Not long ago, high customer churn was a big issue at the company, due largely to the lack of
visibility into critical account relationships. Customer retention was a reactive activity that mainly involved
“management by expiry date” — or simply waiting for the contract renewal date to approach before starting
your retention activities. To turn things around, the company launched a new Customer Success Management
initiative that is now integrating Gainsight’s CSM automation capabilities with the company’s Salesforce.com
CRM platform.
Executives say the Gainsight initiative is on track to deliver nearly a dozen more measures of customer success,
including product adoption and usage, and provide greater visibility into relationship touch points. The company
expects Gainsight’s alerts and insights to improve cross-selling and up-selling by making opportunities visible
60 days sooner. Assuming a 5% churn reduction and 10% upsell revenue lift, the company expects its $50M
customer base to grow to more than $140M in five years.
“How much of the
benefits can be
attributed to Gainsight?
We would attribute a
third to Salesforce.com,
a third to organizational
and process changes,
and at least a third
to Gainsight.”
– Performance
management company
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Adding together these enhancements, we estimate that the Gainsight solution could generate an additional $11M in
revenue over a three-year period for an average SaaS company. Figure 4 illustrates how Gainsight generates greater
retention and cross-selling revenue over time compared to companies with manual CSM programs — and even
more so when compared to companies with no retention efforts. Companies consistently cited the ability to drive
greater “customer lifetime value” as the principal reason for adopting automated CSM solutions.
OPERATING SAVINGS
Beyond revenue enhancement, companies reported significant cost-cutting benefits from adopting automated CSM
solutions, averaging between $1M and $5M per year in operational savings when compared to manual CSM programs.
For example, companies that adopted Gainsight, which comes with an automated reporting engine, found that
managers spent about 95% less time preparing reports, or nearly two hours per report, on average. For a company
that prepares about two reports per customer, twice a month, for 1,400 customers, the labor required is substantial;
for the study, we estimated this workload would require the equivalent of about 17–20 customer success program
resources, costing about $1M per year. For companies with more customers and more extensive outreach efforts,
we estimate that automated solutions would generate savings of as much as $5M per year.
Figure 4. Gainsight-driven revenue lift comes from two critical improvements:
Less customer churn and more cross- and up-selling
Time
Source: Mainstay Partners
Revenue from
retention
automation
using
Gainsight
Revenue from manual
retention efforts
Revenues
No retention
efforts
Revenue from
contracts renewed
Cross-sell/up-sell
revenue
“Gainsight saves us
3,000 hours every
month in data
preparation for
customer retention
meetings. That’s
about $1M per year
in cost avoidance.”
– Staffing automation
company
Sales incentive management SaaS company improves revenue potential by
over $4M by reducing customer churn
This global sales-incentive management company has been experiencing a growth spurt and early on
embraced the philosophy of Customer Success Management. It learned that retention rates were only part
of the picture, and soon it developed a richer and more detailed set of CSM metrics, including dollars lost
to discounts, product usage levels, support ticket activity, licensing, cross-selling, training, and more.
Gainsight easily supported all of these measures, helping the company cut churn by 2-5%, translating into
a $1.35M revenue increment per year. Gainsight-led CSM efforts have also generated additional sales from
20% of existing customers, driving about $900K annually in extra revenue. Meanwhile, streamlined CSM
report preparation helped the company save about $200K per year in operational overhead.
8. Measuring the ROI of Customer Success Management Solutions WHITE PAPER
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Companies said that automated CSM solutions excelled
at monitoring recently on-boarded customers, whose
revenues are typically lower than established customers
and therefore more expensive to monitor (per dollar of
revenue). By adding automation software, companies
found it cost-effective to focus on this critical buying
phase, when loyalty is most at risk. Overall, companies
said that the expense of monitoring and retaining at-risk
customers tended to be about 75% to 80% less using
automated CSM software solutions, mainly because
managers could detect dissatisfaction earlier and
draw on better intelligence to design more effective
communications.
One Gainsight customer, a typical SaaS company, said that with manual CSM efforts, retaining of at-risk customers
requires more effort and costs (such as discounts, free extensions or giveaways). Gainsight’s early insights and alerts
should help the company reduce these efforts and control costs involved in retaining at-risk customers by up to 75%.
PRODUCTIVITY BOOST
Because of automation features built into Gainsight, customer success managers immediately become more
productive, with companies saying they could touch three times more customers; for the average company this
meant reaching out to 2,800 customers per month versus 900 before. Moreover, companies took advantage of the
richer set of customer success metrics available in the Gainsight solution, which offers more than 100 measures
of customer success versus 30 metrics that are tracked in the typical non-automated CSM program.
Figure 5. Customer Success Report
Preparation Effort
2 hours
5 minutes
95%
reduction
$1M
annual
savings
Manual CSM Gainsight-led CSM
LMS SaaS provider forecasts 50% reduction in churn
This SaaS provider of productivity-enhancement software had long embraced the concept of Customer
Success Management, but confined it to a sub-function of the account management role. But as customer
churn increased in the face of sharp business growth, the company took a more proactive approach to
customer success, seeking to cut churn rates from a recent high of 20%. Step one was creating a customer
experience group equipped with a playbook of best practices and Gainsight’s automated CSM tools.
The CSM program is now enabling the company to create a single “customer adoption score” that combined
several indicators such as customer adoption, usage, and call center activity, and participation in Webinars and
surveys. All of this helped determine the customer’s renewal potential. Gainsight proved to be the best tool for
integrating data from multiple sources, including Salesforce.com, and for automating reports. Executives now
expect to cut churn by half and improve the quality and frequency of customer outreach activities.
“We’ve more than
tripled our outreach
to customers as a
result of adopting the
Gainsight solution.”
– SaaS-based marketing
automation company
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Figure 7. Lower staff overhead with automated CSM, providing scalability to handle customer base growth.
For every 1,000 customers added, Gainsight clients will need 15–20 fewer CSMs, or $1M less annually.
Size of Customer Base (Number of Customers)
500 1,000 1,500 2,000 2,500 3,000
Source: Mainstay Partners
Manual CSM
Gainsight-led
CSM
Number of Customer
Success Managers Required
What this productivity enables for companies is significantly better scalability as they expand their customer base
over time. This is a critical capability for SaaS or cloud-services companies, many of whom are experiencing growth
spurts. According to our research, automated solutions such as Gainsight will allow these companies to handle
growth with a leaner staff than companies that forego automation, as shown in Figure 7. For every 1,000 customers
added, SaaS companies interviewed would have needed 30 more customer success managers without Gainsight to
provide the same level of monitoring.
Figure 6. More Outreach, Richer Reports
No CSM
Customer Outreach
(number per week)
Gainsight-led CSM
Manual CSM 400
1,200
3x
increase
No CSM
Metrics per Report
(number per customer)
Gainsight-led CSM
Manual CSM 30
100
3x
increase
“Out of 1,400 total
customers, the 1,000
smaller and recently
on-boarded customers
are most at churn-risk.
It is expensive to
monitor this segment
and Gainsight helps
us do this at a fraction
of the cost.”
– Marketing automation
company
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CONCLUSION
Figure 8 summarizes three approaches to managing customer success available to companies competing in
the SaaS marketplace. Companies can choose not to fund any Customer Success Management programs; they
can decide to dedicate resources to Customer Success Management, but do so in a highly labor-intensive way
(customer success managers lack access to an automated platform); or companies can adopt CSM automation
solutions such as Gainsight. As our study showed, automated CSM solutions offer huge potential for reducing churn
and driving sales revenue, containing CSM overhead costs, and building a scalable infrastructure for maintaining
customer success levels to match continuing business growth.
Figure 8. Comparing Three Approaches to Customer Success Management
No CSM “Manual” CSM Gainsight-led CSM
Reduce Churn and Drive
Up-sell Revenue
Customer
Churn
Consistently high Reduced in the short-term
but continues to be high as
customer base grows
Reduced and controlled
in a sustainable,
cost-effective manner
CSM-led
Cross-sell/
Up-sell
Data and insights
unavailable to support
sales to existing customers
Data or insights are too
time-consuming and
expensive to gather for this
Cross-sell/up-sell revenues
driven by Gainsight reports
Newly Acquired
Customers
At Risk
(<90 days)
Unstructured efforts
generally miss this
critical customer segment
Prohibitively expensive
to service these customers
Cost-effective monitoring
of this high-risk segment
Scale Customer
Success Team
Automatic
Alerts
Non-existent Rarely available Widely used, help early
detection of
at-risk customers
Customer
Success Report
Preparation
Effort
Generally not
undertaken
Very high;
3,000–10,000 person
hours per month
Automated reporting
reduces effort by 90%
Strengthen
Customer Engagement
Number of
Metrics
Reported
Not reported or
fewer than 10
0–30 metrics,
constrained by time
and resources
More than
100 metrics
Number of
Customer
Outreaches
Low amount,
does not target
customers strategically
700–900 outreaches
per month for a
customer base of 1,400
2,800 outreaches
per month for a
customer base of 1,400
Customer
Success
Insights
Not reported or
fewer than 10
Contrained by ability
to capture data present
in multiple sources
Gainsight provides
one source and instant
delivery of reports
and insights
Low Churn High Churn Low Churn High Low Churn High Churn Low Churn High Low Churn High Churn Low Churn High Low Churn High Churn Low Churn High ? $
Low Churn High Churn Low Churn High Churn
? $
Low Churn High Churn Low Churn High