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The ROI of CSM Solutions

Gainsight's customers benefit from a CSM Solution

The ROI of CSM Solutions

  1. 1. The ROI of Customer Success Management Solutions Febrary 2014 2014 Gainsight, Inc. All rights reserved.
  2. 2. Housekeeping Q&A panel on your right Recording for colleagues who couldn’t make it All attendees will receive slides Stick around til the end for a chance to win a CSM ROI Value Assessment • Twitter hashtag #customersuccess • • • • 2014 Gainsight, Inc. All rights reserved.
  3. 3. Today’s Panelists Anthony Kennada Head of Marketing Gainsight Craig LeGrande Managing Director & Cofounder – Mainstay Company L. Venkatraman VP Consulting, Mainstay Company 2014 Gainsight, Inc. All rights reserved.
  4. 4. To a CSM ROI 2014 Gainsight, Inc. All rights reserved.
  5. 5. HOW MUCH VALUE ARE YOU PROVIDING YOUR CUSTOMERS? 2014 Gainsight, Inc. All rights reserved.
  6. 6. 3 R’s of Value Creation Revenue Resources Relationship 2014 Gainsight, Inc. All rights reserved.
  7. 7. Tie It Back 2014 Gainsight, Inc. All rights reserved.
  8. 8. But It’s Been Hard 2014 Gainsight, Inc. All rights reserved.
  9. 9. THERE’S A BETTER WAY 2014 Gainsight, Inc. All rights reserved.
  10. 10. The Solution 2014 Gainsight, Inc. All rights reserved.
  11. 11. ROI Research Data Collection Information Gathering Week 1 Draft/Finalize White Paper Content Value Tree Development/ Summary PPT Development Week 2-3 Graphics/Final Production Week 6-7 Week 4-5 Kickoff Meeting Scope Interview Candidate List with HS Conduct Interviews Request/Collect Existing Materials Develop Interview Guide Review/Approve Messaging with Stakeholders Draft Value Tree/ Summary PPT Draft Whitepaper Review with Stakeholders A Refine/Adjust based on Feedback Refine/Adjust based on Feedback PDF/ Graphics Creation
  12. 12. Gainsight ‘Value Tree’ >$3M annual revenue lift and $1-$5M annual operational expense savings 12
  13. 13. THE DETAILS
  14. 14. Gainsight improved Retention and Cross-Sell Revenues by over $11M over a 3-year time frame • Gainsight clients interviewed had a customer base of between 1400 and 4500 customers • They reported that churn rates reduced to less than 2-3%, a 5-10X reduction from before Gainsight. • The average revenues for these Gainsight clients was about $4K per month per customer • This represents a $11M revenue lift over a 3-year timeframe
  15. 15. Gainsight customers also realized $1M-$5M annual savings in operational expenses • Gainsight clients interviewed had a customer base of between 1400 and 4500 customers • On an average, they prepare 2 reports per customer, twice a month • For a customer base of 1400, that means 2800 person hours per month, which would require about 17-20 CS resources, or about $1M investment in staff per year. For a larger customer base or for companies that do more outreaches, these savings can be as high as $5M • This represents a $1M annual savings in operational expenses
  16. 16. Gainsight drove more valuable relationships 3X customer outreaches and 3X richer reports
  17. 17. Gainsight customers reduced risk of churn with proactive intervention in the first 90 days • Newly acquired customers (<90 days) are most at-risk but expensive to monitor manually since their revenues may be small / still growing compared to larger more mature accounts. • Gainsight made it cost-effective for its clients to do this critical piece.
  18. 18. Customers are creating the scalability to handle customer base growth For every 1,000 customers added, Gainsight clients will need 15–20 fewer CSMs, or $1M less annually.
  19. 19. THE ATTRIBUTION
  20. 20. The Customer Success Management Journey Reduce churn & drive up-sell revenue Scale customer success team Strengthen customer engagement
  21. 21. We understand our customers in more ways than just the old segments – households, small and large enterprises. Gainsight has helped us segment customers in different ways Without any CSM, customer churn would have been in double digits, but Gainsight can reduce churn by over 50% to just a few % Gainsight saves us 3000 person hours every month in data preparation time for customer retention meetings. That’s about $1M per year avoidance Before Gainsight, it was always 'the hot customer of the week', now it is ARR and customer-health based For CSM automation, SFDC cannot become Gainsight Gainsight also helps with cross-sell by tracking out of compliance customers, which has resulted in hundreds of thousands of dollars of revenue per quarter additional revenue The general assumption is that large customers need attention. However, in our case there is a huge # of new customers (<90 days) that are still adopting the product and therefore high risk for churn. It is expensive to service these customers and this is where Gainsight automation helps We were able to cross-sell / upsell 10% more thanks to Gainsight Before Gainsight, CSM reports were pieced together in SFDC and we only had 1/2 the number of reports and much of the information required going to multiple places. 2014 Gainsight, Inc. All rights reserved.
  22. 22. APPENDIX: EXAMPLE OF HOW A GAINSIGHT CUSTOMER REALIZES VALUE 600 1000 1400 3000 30* # customers $48K # data points reported per report $90K $72K Average annual revenue per customer 1 hour 2 hours 3 hours 4 hours 1 400* 1200 per week** Number of customer outreaches with CSM reports >10 % points $1M 4 # of ’CSM’ conversations per customer per month 10 25-30 # CSMs required per 1000 customers, if done manually Time spent on CSM reports per report 2-3 % points ($10M) 100 10 25-30 # CSMs required per 1000 customers, if done manually $2.4M $100,000 per quarter $1.2M per year Churn reduction & Revenue Lift (3 years) Opex Savings (data preparation) per year Additional cross-sell / upsell revenue generat *(before Gainsight)
  23. 23. HOW TO GET STARTED 2014 Gainsight, Inc. All rights reserved.
  24. 24. CSM ROI Assessment • 2 Winners from Attendees • 2-3 week study • Data workshop • Growth & Churn Assessment • Custom ROI Model 2014 Gainsight, Inc. All rights reserved.
  25. 25. QUESTIONS SALES@GAINSIGHT.COM NEXT WEBINAR: BIT.LY/1FK0JV2 2014 Gainsight, Inc. All rights reserved.
  26. 26. Thanks For Joining! 2014 Gainsight, Inc. All rights reserved.
  • luisromeroplasencia

    Feb. 2, 2016
  • JoeFaddoul

    Jan. 11, 2016
  • fbuk2

    Feb. 22, 2014

Gainsight's customers benefit from a CSM Solution

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