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

ISBN: 978-1-119-16796-9
256 pages
February 2016
Customer Success: How Innovative Companies Are Reducing Churn and Growing Recurring Revenue (1119167965) cover image

Description

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.
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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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Author Information

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.

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