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Gainsight, in partnership with benchmark research firm RevOps Squared, has completed a study on the strategies and benefits of customer success programs within high-growth companies. The resulting report provides several insights on the contribution of customer success, most notably that companies that reported the highest net revenue retention (NRR) also reported investing 10% of revenue in their customer success management (CSM) and customer success operations (CSops) teams. .
Gainsight embarked on the study with the goal of understanding the current state of customer success programs, including what executives will focus on in 2022, the challenges they face, and how they are scaling their customer success operations.
For example, 95% of respondents said that customer success is well defined or present within their company. It’s clear that business-to-business (B2B) companies of all sizes prioritize customer success.
It is also clear that strategic, data-driven investments make a huge difference to the bottom line. According to the Gainsight survey, companies reporting the highest NRR also reported investing 10% of revenue in their customer success and CSops teams.
Unsurprisingly, responsibilities for customer success are directly related to business value. According to the Gainsight study, reducing churn and product adoption were top priorities, indicated by 83% and 81% of respondents, respectively.
“This data reflects what we hear from our customers that product experience and customer success are directly related to revenue,” said Kellie Capote, Chief Customer Officer at Gainsight. “This report highlights the quick wins and growth opportunities available to digitally-focused companies in the coming year. Armed with this information, any organization can invest in the people, solutions and strategies to create a company-wide customer success culture that drives revenue and ensures success for everyone.”
More than 350 companies in various sizes, industry segments and geographies participated in the survey.
Read the full Gainsight and RevOps Squared report.
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This post Report: 95% of companies have a customer success feature
was original published at “https://venturebeat.com/2022/03/31/report-95-of-businesses-have-a-customer-success-function/”