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GainSite, in partnership with benchmarking research firm RevOps Squared, has completed a study on the strategies and benefits of consumer success programs in high-growth companies. The resulting report provides a lot of insight into the contribution of customer success, especially noting that the companies that reported the highest net revenue retention (NRR) rates also accounted for 10% of their revenue in customer success management (CSM) and customer success operations (CSops). Reported investment. Teams
Gainesite began the study with the goal of understanding the current state of consumer success programs, including what executives are focusing on in 2022, the challenges they face, and how they are increasing their customer success performance.
For example, 95% of customer successes are well defined or present in their companies. Clearly, business-to-business (B2B) companies of all sizes are prioritizing customer success.
It is also clear that strategic, data-driven investments make a big difference in the bottom line. According to Gainesite’s study, the companies that reported the highest NRR also reported 10% of their customer success and revenue investments in CSops teams.
Surprisingly, customer success responsibilities are directly linked to business value. According to the Gainesite study, churn reduction and product adoption were the top priorities suggested by 83% and 81%, respectively.
“These data reflect what we hear from our customers, which is directly linked to product experience and customer success,” said Kelly Capote, Gansite’s chief consumer officer. “This report highlights the rapid growth and growth opportunities available to digital-focused companies in the coming year. Equipped with this information, each organization can invest in people, solutions and strategies to build a company-wide customer success culture that drives revenue and ensures success for all. “
More than 350 companies from size, industry departments and geographical areas participated in the research.
Read the full report by Gainsight and RevOps Squared.
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