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How (and When) to Hire a Great VP of Customer Success Management CSM
The document provides guidance on hiring a VP of Customer Success, addressing key considerations such as timing, organizational fit, and candidate evaluation. It emphasizes the importance of customer success in reducing costs and driving growth, along with specific recommendations for role definition and assessment. Finally, it outlines recommendations for future VPs to ensure alignment with company culture and readiness for investment in customer success initiatives.
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Similar to How (and When) to Hire a Great VP of Customer Success Management CSM
How (and When) to Hire a Great VP of Customer Success Management CSM
- 1. How and Whento Hire a VP of Customer Success January 15, 2015
- 2. Housekeeping • Q&A panelon your right • Recording for colleagues who can’t make it • All attendees will receive slides • Twitter hashtag #customersuccess
- 3. Our Speakers Nick Mehta CEO @nrmehta TomaszTunguz Partner @ttunguz Monica Adractas VP, Customer Success and Retention
- 4. On Your Mind? •Timing • Why do I need to invest in Customer Success this year? • When should I bring in a leader of Customer Success? • What do my CEO and board think? • Hiring • How does Customer Success fit into my organization? • What does Customer Success own? • Where do I find a leader with the skills my company needs? • Preparing • What do I need to know about Customer Success? • What do I have to keep in mind about transitioning? • How do I evaluate roles and employers?
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- 6. Advocacy Reduces CAC CustomerSuccess is a powerful growth mechanism
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- 8. Retention Affects TheTop Line Hypothetical SaaS Co $50k in MRR 50 customers at $1k ARR each $1250 in CAC, Sales Efficiency of 0.8 Growing 15% m/m
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- 10. CSM Drives GreaterShare-of-Revenue • Customers use more of a product over time • CSM teams help customers adopt and expand
- 11. The Whole CompanyBenefits Product feedback Marketing relationships
- 12. Economics For YourInvestment • Compare CLTV to your growth trajectory • Is it less expensive to retain or replace your typical customer?
- 13. CSM Improves CLTV •Model expected benefits • Include organization change needed for full effects
- 14. Protect Against BadOutcomes • Don’t just invest in technology • Hire a leader
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- 17. Revenue SuccessMaturity Adoption Retention Expansion Optimization Transformation $1 - $5MM $5 - $20 MM $20 - $100 MM $100 MM - $1 B $1 B+ Gainsight CSM Maturity Model
- 18. Revenue SuccessMaturity Manager or Director of Customer Success VPof Customer Success SVP of Customer Success or CRO CCO CCO Reporting to President or COO Who Owns Customer Success?
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- 20. Sales- oriented Support- oriented Services- oriented Product- oriented • Low ACVOR • High cross-sell / up-sell • Complex deployment OR • Naturally sticky • Low ACV OR • Non-tech user • Low ACV OR • Tech savvy user What Background Fits?
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- 23. How Do IFind A Unicorn?
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- 28. What Should IAsk My Candidates? • How do you define Customer Success? • Whom do you admire in Customer Success? • How should I measure you in this job? • How will you track your team’s performance? • What do you look for in team members? • What will you do with the 25th hour of the day? • Tell me about your toughest customer situation
- 29. How Can ITest? • Mock board meeting • Mock QBR presentation • Call one of their clients
- 30. What Should MyJob Description Look Like? www.gainsight.com/job-description
- 31. How Can ISell? • Importance to business model • Customer commitment • Org-wide customer culture • Support from product • Support from sales • Investment (systems, training, comp) • Career growth
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- 34. What I lookedfor in an opportunity Company vision, future prospects, and leadership A customer-back mindset Ability to have impact (company readiness to invest / change) Culture Specifics: role, comp, career trajectory
- 35. Recommendations for FutureVPs 1 2 3 4 Define the company stage and complexity that is right for you Make sure you *love* the people and culture Spend a *ton* of time listening Find companies with evidence of a cross- functional, customer-back mindset
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