Tomasz Tunguz from Redpoint points out that ServiceNow, one of the most valuable SaaS companies in the world, uses Land, Expand and Retain to describe their growth strategy. He also points out that as a SaaS business grows, “the fraction of revenue from renewals and expansion outpace new bookings.” This means that the company has captured… Read More SaaS Growth = New Business + Upsell + Renewal
Last week my team and I had the opportunity to spend a full day with Customer Success leaders representing over 40 growth-stage B2B SaaS companies at the JMI Equity Customer Success Round Table.… Read More What we learned from 40 B2B SaaS executives
Have you ever considered the difference between the word change and transform? Here’s how Webster’s dictionary defines each: Change: To make different in some particular; to alter. Transform: To change in composition or structure. Do you notice the difference? To change is to modify, I think of incremental improvements. Making something fast, faster; something big, bigger;… Read More Don’t change, transform
Great article on new customer onboarding communication from the Highrise team which describes techniques they use, such as: Keeping email drip campaign content fresh, relevant and personal every day Creating a system to encourage direct replies to automated emails Using personalization like this: I can't believe this is real. This is the most incredible onboarding I've… Read More Welcoming Customers
The Second Sale begins immediately after the first sale is closed, and it’s a continuous flow of small wins.… Read More The Second Sale
…we often lose sight of the fact that we actually need to win over users and on board people successfully… Read More Customers don’t onboard
Customer portfolio segmentation strategy is usually determined by size of account, industry vertical, product package purchased, or a combination of these and other factors. While this defines the company’s customer engagement strategy at a macro-segmentation level, it’s also important for CSMs to think about their own portfolios as a book of business that also needs to be segmented.… Read More Customer Portfolio Segmentation for Customer Success Managers
Change of Sponsor/Champion can be a major source of churn. This is when the financial buyer of your service leaves the company or is promoted into another area of the business. How big this issue will be for your company varies widely by industry norms of leadership retention in the markets you serve. Root cause of churn related… Read More Loss of champion as a churn reason
I was chatting with a former colleague this week who is now VP, Sales for a fast-growing tech company in Charleston, SC. He intimated that he has found great success using Outreach.io to automate outbound prospecting for his BDR team. But that’s not where his Outreach.io story began. In his prior company he also used Outreach, but never felt… Read More You’re giving customers tools when they need solutions
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