Customer Success: How Innovative Companies Are Reducing Churn and Growing Recurring Revenue

Customer Success: How Innovative Companies Are Reducing Churn and Growing Recurring Revenue

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Overview

Customer Success: How Innovative Companies Are Reducing Churn and Growing Recurring Revenue by Nick Mehta, Dan Steinman, Lincoln Murphy

Your business success is now forever linked to the success of your customers Customer Success is the groundbreaking guide to the exciting new model of customer management. Business relationships are fundamentally changing. In the world B.C. (Before Cloud), companies could focus totally on sales and marketing because customers were often 'stuck' after purchasing. Therefore, all of the 'post-sale' experience was a cost center in most companies. In the world A.B. (After Benioff), with granular per-year, per-month or per-use pricing models, cloud deployments and many competitive options, customers now have the power. As such, B2B vendors must deliver success for their clients to achieve success for their own businesses.

Customer success teams are being created in companies to quarterback the customer lifecycle and drive adoption, renewals, up-sell and advocacy. The Customer Success philosophy is invading the boardroom and impacting the way CEOs think about their business. Today, Customer Success is the hottest B2B movement since the advent of the subscription business model, and this book is the one-of-a-kind guide that shows you how to make it work in your company.

From the initial planning stages through execution, you'll have expert guidance to help you:

  • Understand the context that led to the start of the Customer Success movement
  • Build a Customer Success strategy proven by the most competitive companies in the world
  • Implement an action plan for structuring the Customer Success organization, tiering your customers, and developing the right cross-functional playbooks
Customers want products that help them achieve their own business outcomes. By enabling your customers to realize value in your products, you're protecting recurring revenue and creating a customer for life. Customer Success shows you how to kick start your customer-centric revolution, and make it stick for the long term.

Product Details

ISBN-13: 9781119167969
Publisher: Wiley
Publication date: 02/29/2016
Pages: 256
Sales rank: 197,389
Product dimensions: 6.30(w) x 9.10(h) x 1.20(d)

About the Author

NICK MEHTA is CEO of Gainsight, where he brings the right people together and puts them in the best position to win for customers, partners, employees, and their families. He's a big believer in the Golden Rule, and he uses it to bring more compassion to interactions with others.

DAN STEINMAN is the chief customer officer for Gainsight. He is the author of dozens of relevant blogs, contributed articles, and Customer Success University created by Gainsight and a recognized thought leader in the Customer Success world.

LINCOLN MURPHY is founder of Sixteen Ventures, a consultancy helping companies accelerate growth through Customer Success. He's a prolific writer and international speaker on Growth and Customer Success.

Table of Contents

Gainsight Book Foreword xi

PART I Customer Success: The History, Organization, and Imperative 1

Chapter 1 The Recurring Revenue Tsunami: Why Customer Success Is Suddenly Crucial 3

Chapter 2 The Customer Success Strategy: The New Organization versus the Traditional Business Model 25

Chapter 3 Customer Success for Traditional Nonrecurring Revenue Businesses 45

PART II The Ten Laws of Customer Success 63

Chapter 4 The Practice of Customer Success 65

Chapter 5 Law 1: Sell to the Right Customer 69

Chapter 6 Law 2: The Natural Tendency for Customers and Vendors Is to Drift Apart 79

Chapter 7 Law 3: Customers Expect You to Make ThemWildly Successful 91

Chapter 8 Law 4: Relentlessly Monitor and Manage Customer Health 103

Chapter 9 Law 5: You Can No Longer Build Loyalty through Personal Relationships 113

Chapter 10 Law 6: Product Is Your Only Scalable Differentiator 125

Chapter 11 Law 7: Obsessively Improve Time-to-Value 137

Chapter 12 Law 8: Deeply Understand Your Customer Metrics 147

Chapter 13 Law 9: Drive Customer Success through Hard Metrics 159

Chapter 14 Law 10: It’s a Top-Down, Company-Wide Commitment 171

PART III Chief Customer Officer, Technology, and Future 181

Chapter 15 The Rise of the Chief Customer Officer 183

Chapter 16 Customer Success Technology 199

Chapter 17 Where Do We Go from Here? 215

Index 229

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Customer Success: How Innovative Companies Are Reducing Churn and Growing Recurring Revenue 5 out of 5 based on 0 ratings. 5 reviews.
EFoster More than 1 year ago
Customer success has become a critical business function for not just subscription-driven software businesses, but businesses of all shapes that want to achieve increased revenue, reduced customer churn, and ultimately increased growth. Interestingly as well, Customer Success as a career has become one of the best training grounds for achieving the position of CEO - one key aspect of being a successful CEO is understanding intimately how the pieces of the company fit together and one could argue that Customer Success people will understand this better than any other role in the company, as customer success crosses Product, Marketing, Sales, Engineering and Delivery. The three authors are literarily the leading minds on Customer Success and this book is exceptionally well written, to the point, and easily accessible regardless of your background. Dan, Nick and Lincoln have literally written *the* book on Customer Success. "Customer Success" is strongly recommended for anyone looking to grow their business or advance their career in one of the hottest new fields in business.
joeblack24 More than 1 year ago
This book is great insight into the incipient Customer Success movement. There are great stories about Customer Success that will give valuable insight into what exactly Customer Success means and how to live by it! It's clearly and heuristically written to make it an easy but comprehensive read. I'd highly recommend to anyone trying to dive deeper into Customer Success.
Anonymous More than 1 year ago
Excellent tool for customer success managers and anyone wanting to learn more about Customer Success, in general. Customer Success plays a critical role in a company's success...reduces lost revenue and customer attrition rates. A must have for our account managers!
Anonymous More than 1 year ago
I am transitioning into a client facing position at my company and this provided me with a lot of good insight into what I should be focusing on. Could be a great eye opener for anyone who is currently struggling in the customer success field!
Anonymous More than 1 year ago
This is a must-have purchase for Customer Success practitioners. Customer Success is still a new field, but this is the most comprehensive book available right now on the subject. I hope the authors update this annually based on the latest studies, trends, and best practices.