Gallup studies show that 82% of B2B customers are indifferent, disengaged or actively looking to replace a vendor. Yet, many companies still put a greater emphasis on building a pipeline vs. protecting and expanding key accounts. In this podcast, customer success expert, Kristi Faltorusso, joined Kristina Jaramillo to discuss the state of customer success and how account retention and expansion is an organization-wide issue. As Sangram Vajre from GTM Partners likes to say, companies do not have a sales problem, they do not have a marketing problem, and they do not have a customer success problem. They have a customer success problem.
Click below to listen to the podcast:
Here Are Additional Key Points From This Webinar with Kristina and Kristi:
- Sales teams are struggling to bring in new business. Companies like Commvault report 8-10% drops in enterprise deals as budgets are limited or frozen. To sustain growth, companies need to protect and expand the existing revenue they do have. But because customers are not getting the experience they want with their vendors after the deal is closed, many companies are seeing churn and lost revenue – while not generating enough new revenue to replace it.
- Leadership at most companies are unfamiliar with what is required to execute a customer success strategy – and they are not focused on how the whole organization contributes to the account experience and the outcome of customer success especially for key accounts they need to protect and expand.
- Customer success is not a one-size-fits-all all model. It’s not a one-sized fits many model either. It should be unique to each company and to the company’s different segments. It should be unique to each individual tier 1 account that the team wants to protect and expand. You cannot treat all existing accounts the same, just like sales and marketing teams cannot treat all ICP accounts the same.
- Customer success and GTM teams need greater alignment and a clearer understanding of their customer’s goals and their shifting priorities in order to change the strategic “Why stay?”, “Why evolve?”, “Why expand?” conversations that need to happen to drive more profitable growth.
Check Out This Case Study to See How You Can Enable Customer Success and GTM Teams to Drive Stronger NRR Growth:
