1/CEO @nrmehta built a 1.1B🦄 co. by creating a new category - Customer Success
I asked Nick how he made CS the new differentiator in our businesses👇
I asked Nick how he made CS the new differentiator in our businesses👇
2/Purple Cow #20 🟣🐮 (a weekly thread I write on what makes something unique or remarkable) goes to Nick Mehta, CEO at Gainsight.
He's what I call a "category creator" (type #4) #purplecow. @nrmehta pioneered the customer success biz model.
He's what I call a "category creator" (type #4) #purplecow. @nrmehta pioneered the customer success biz model.
3/1️⃣0️⃣ years ago, the idea of a 'customer success manager' was mythological.
It simply didn't exist 🤷♀️
Co's like @adobe would sell to customers with little strategy behind reducing churn. They'd assign an account rep & call it a day🤝
It simply didn't exist 🤷♀️
Co's like @adobe would sell to customers with little strategy behind reducing churn. They'd assign an account rep & call it a day🤝
4/@nrmehta attacked this problem by going deep on helping teams retain their customers.
In B2B SaaS, almost all your revenue💰 comes from renewals.
Which is why CS teams are a business imperative.
In B2B SaaS, almost all your revenue💰 comes from renewals.
Which is why CS teams are a business imperative.
5/When Nick joined @GainsightHQ did you know that there were less than 500 CS people in the world?🤔
(mentioned in an interview w/ @joeDmarti from @cloudapp: )
Most people would run 🏃♀️ for the hills with that small of a customer base.
But Nick didn't.
(mentioned in an interview w/ @joeDmarti from @cloudapp: )
Most people would run 🏃♀️ for the hills with that small of a customer base.
But Nick didn't.
6/He got founders, board members & sales teams to rethink customer success as a critical differentiator💪
Even better, he re-shaped how revenue leaders thought about retaining SaaS & encouraged them to allocate a headcount to fix it: the customer success manager🙋♀️
Even better, he re-shaped how revenue leaders thought about retaining SaaS & encouraged them to allocate a headcount to fix it: the customer success manager🙋♀️
7/And what does every CSM need to be successful? Well @GainsightHQ - duh!
https://twitter.com/nrmehta/status/1408129415347806208?s=20
8/Another way he did this was by creating a budding📈 CS community alongside @akennada, @pickensallison & team.
Over 9 years, @GainsightHQ hosted the yearly Pulse conference w/ +20,000 CS professionals from around the globe🌍 joining to learn how CS skyrockets🚀 cust. retention.
Over 9 years, @GainsightHQ hosted the yearly Pulse conference w/ +20,000 CS professionals from around the globe🌍 joining to learn how CS skyrockets🚀 cust. retention.
9/Needless to say, @GainsightHQ became a major benefactor in their effort to create a new reformation of companies that went deep on a custom-centric strategy.
10/What @nrmehta did for B2B customer success is like what @jamescurrier from @nfx indoctrinates for B2C product led growth:
Revolutionize how nailing retention, not acquisition, is the pinnacle of defensible moats🏰
Revolutionize how nailing retention, not acquisition, is the pinnacle of defensible moats🏰
11/What went right👍: @nrmehta’s evangelism of CS created a category defining business model that is now a part of everyone’s larger RevOps strategy💪
It’s turned @GainsightHQ into a unicorn co, & has made Nick the 🏆 2nd Top SaaS CEO (source: bit.ly/3gZwwks)
It’s turned @GainsightHQ into a unicorn co, & has made Nick the 🏆 2nd Top SaaS CEO (source: bit.ly/3gZwwks)
12/@rogerleevc, one of @GainsightHQ’s first investors @batteryventures, said Nick 💬“took the ball 99 yards all the way to the end zone.”
A category creator 🟣🐮 becomes #1 by being the early pioneer of an untapped space...
A category creator 🟣🐮 becomes #1 by being the early pioneer of an untapped space...
13/And for @nrmehta, @GainsightHQ wasn’t just the mission to create a new category, he wanted to change the way businesses viewed their customers.
14/Takeaway for you🙋♀️: How might you create a measurable framework around the promises you make to customers?
Consider how you can make your product AND the methodology for getting customers their desired outcome the best
Because that's just as valuable as the tech you sell⭐️
Consider how you can make your product AND the methodology for getting customers their desired outcome the best
Because that's just as valuable as the tech you sell⭐️
15/As CEO @WarmlyAI, Nick's taught me that stuffing the top of funnel isn’t 🙅♂️ a scalable means for reaching our goals
It’s about discovering & communicating the intrinsic value we drive home for our users.
He’s given @itsjimoneill & I a lot to chew on in how we approach CS🤔
It’s about discovering & communicating the intrinsic value we drive home for our users.
He’s given @itsjimoneill & I a lot to chew on in how we approach CS🤔
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