Good gross retention for B2B #saas is 90% or higher... best in class is 95%+
...using a simple customer lifetime calculation, 92% gross retention translates into customer lifetime of 12.5 years.
So are your new customers going to stay with you for the next 12.5 years?
If you have any doubt, it's time to adopt a customer-centric culture which prioritizes:
📌 customers over products
Customers are the center of our world as opposed to being enamored with our product.
📌 outcomes over tools
Tools are meaningless unless they produce verifiable outcomes for our customers.
📌 prescriptive solutions over customization
Because we work on similar problems day-in and day-out, we guide our customers toward best practices.
📌 relationships over transactions
There's no sense in optimizing departmental performance (sales, support, services, etc) if the customer is still suffering.
📌 proactive over reactive
We learn from our customers and our mistakes and constantly iterate processes to improve outcomes and experience.
Transforming organizational culture toward customer success takes work, and we need guiding principals if we're going from good to great.
What are your guiding principals for #customersuccess?
