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58% of companies surveyed by Gainsight for its 2022 PLG Index already have a product-led growth strategy in place, and 47% plan to double their investment.

San Francisco, California (May 17th, 2022) Gainsight has published its 2022 Product-Led Growth Index, a comprehensive report detailing the current status, defining metrics, and tools used by SaaS-based subscription businesses pursuing product-led growth (PLG). Along with RevOps Squared, a benchmarking research firm, Gainsight surveyed over 600 companies of various sizes, with varying annual contract values and across multiple industries. The report can be downloaded here. 

PLG is a go-to-market strategy that transforms the way products are designed and delivered. This strategy puts the product at the forefront of the customer journey to drive acquisition, conversion, adoption, retention, and expansion. PLG achieves these objectives by leveraging product usage data to deliver immersive product experiences at scale. Subscription-based SaaS businesses, which need to align their products to their customers’ needs at every stage of the customer journey, are a natural candidate for PLG strategies. 

While a relatively nascent concept, SaaS businesses clearly are gravitating to PLG, as evidenced by the Gainsight report. For example, a PLG motion already exists in 58% of surveyed companies. Meanwhile, 91% of surveyed companies adopting PLG plan to increase their investment in PLG strategies,  with 47% planning to double their investment in PLG strategies. 

SaaS companies are having success with their PLG initiatives, too. According to the report:

• Free trials using product qualified leads (PQL), a popular PLG strategy, convert to paid customers 25% of the time compared to 9% without PQLs. 
• 36% of responding companies said they’re using product data to predict customer churn (another PLG strategy).
• 38% of companies said they are leveraging usage data to identify expansion opportunities. 

But most companies don’t have everything figured out, as they are not effectively tracking PLG metrics. Only 17% said they are tracking time-to-value, just 26% are tracking activation rate, and merely 24% are tracking PQLs.

“The results are very encouraging overall,” said Mickey Alon, Chief Technology Officer of PX at Gainsight. “The most exciting takeaway from all the data is that there is still so much opportunity for PLG to drive durable growth for SaaS companies. As businesses mature their PLG strategies, the result will be a stronger unit of economics and progression beyond acquisition-led growth to retention-and expansion-led growth.”

Gainsight will be showcasing the insights from the PLG Index at its Pulse conference in San Francisco on August 17th-18th. The global event brings together thousands of professionals from Customer Success, Product, and Community teams to learn winning strategies and share best practices. 

About Gainsight

Gainsight’s innovative technology helps companies increase product adoption and prevent churn by identifying at-risk customers, creating systematic processes to mitigate concerns and efficiently ramping up engagement efforts. Gainsight’s platform offers a powerful set of solutions focused on customer success, product experience, and community engagement that together enable businesses to put the customer at the center of everything they do. Learn how leading companies such as GE Digital, SAP Concur and Box use Gainsight at www.gainsight.com. 

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Media Contact:

Jordan Sher
Vice President, Corporate and Brand Marketing
jsher@gainsight.com 

Churn reduction and product adoption were top priorities indicated by 83% and 81% of respondents, respectively.

San Francisco, California (March 30th, 2022) Gainsight, in partnership with benchmarking research firm RevOps Squared, has completed a study on the strategies and benefits of Customer Success programs within high-growth companies. The resulting report yields several insights on the contribution of Customer Success, most notably that companies that reported the highest Net Revenue Retention Rates (NRR) also reported investing 10% of revenue in their Customer Success Management (CSM) and Customer Success Operations (CSOps) teams. The complete Gainsight Customer Success Index can be found here.

Gainsight embarked on the study with the goal of understanding the current state of Customer Success programs, including what executives are focusing on in 2022, the challenges they face, and how they are scaling their Customer Success operations. Over 350 companies across a wide range of size, industry segments and geographies participated in the research, from which multiple significant trends emerged:

Customer Success is well-defined or present in 95% of companies

• Whether they are newly formed or well-established operations, B2B companies of all sizes are prioritizing customer success. 

Strategic, data-driven investments make a huge difference to the bottom line

• Companies that reported the highest NRR also reported investing 10% of revenue in their CS and CSOps teams.

Customer Success responsibilities tie directly to business value

• Churn reduction and product adoption were top priorities indicated by 83% and 81% of respondents, respectively. 

Customer Success Operations is evolving quickly, with 61% of companies reporting a dedicated organization 

• While 41% of companies reported their Customer Success Operations (CSOps) function as newly formed, 20% indicated they had a well-established CSOps team.

Net Revenue Retention Rate is the top customer retention metric

• Importantly, 63% of companies said that their Customer Success organization is responsible for NRR performance. 

Net Promoter Score® is used by 80% of companies to track customer satisfaction

• However, only 37% of companies measure NPS® for executive buyers or platform administrators 

Customer Success owns renewal responsibility 45% of the time

• The responsibility is also split with Account Management 31% of the time and Sales 24% of the time

“This data mirrors what we’re hearing from our customers, which is that product experience and customer success connect directly to revenue,” said Kellie Capote, Chief Customer Officer at Gainsight. “This report highlights the quick wins and growth opportunities available to digital-focused companies over the next year. Armed with this information, every organization can invest in the people, solutions and strategies to create a company-wide customer success culture that drives revenue and ensures success for all.” 

About Gainsight

Gainsight’s innovative technology helps companies increase product adoption and prevent churn by identifying at-risk customers, creating systematic processes to mitigate concerns and efficiently ramping up engagement efforts. Gainsight’s platform offers a powerful set of solutions focused on customer success, product experience, and community engagement that together enable businesses to put the customer at the center of everything they do. Learn how leading companies such as GE Digital, SAP Concur and Box use Gainsight at www.gainsight.com. 

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Media Contact:
Jordan Sher
Vice President, Corporate and Brand Marketing
jsher@gainsight.com

The company hit multiple major milestones, enhanced its PX functionality, and made a strategic community platform acquisition, all while adding large enterprise accounts

San Francisco, California (March 17, 2022) Gainsight announced the completion of its 2022 fiscal year, during which the company exceeded its growth expectations, expanded its customer base, completed a strategic acquisition, grew its employee count, and enhanced its products, among other notable achievements. 

“Our customer and product communities are growing like never before,” said Nick Mehta, CEO of Gainsight. “I’m more fired up than ever by the direction of our industry, and how the ideas of customer-led, product-led, and community-led growth are transforming the ways companies grow.”

Gainsight’s fiscal year 2022 highlights included:

Large Enterprise Customer Growth Across Industries

Gainsight continued to grow its share of the Customer Success and Product Experience markets with multiple large enterprise wins, including its largest Product Experience deal ever. Gainsight’s customer base now includes nearly 200 public companies. New and notable customers include Refinitiv, HMH, Trend Micro, and Powerschool.

Gainsight CS and PX Products Deliver More Opportunities For Companies To Drive Durable, Consistent, Customer-Led and Product-Led Growth 

Gainsight CS – Gainsight made CS easier to use by redesigning several areas of the product using its Horizon Design system, and enhanced its survey settings to give teams more control over how NPS and CSAT are calculated within Gainsight.

The company also extended the availability of its AI-powered bot, Sally, into Microsoft Teams, and added the ability to include renewal analytics within its Horizon Analytics Dashboards. It also made enhancements to its Playbooks and Success Plans features  to help Customer Success Managers improve their productivity by allowing them to more easily manage their daily tasks within Gainsight CS. 

Gainsight PX – Transformative enhancements were made to the Gainsight PX Knowledge Center Bot with the addition of Article Editor, which allows users to increase feature adoption and awareness by creating great-looking product release “note cards,” including embedding multimedia files. The company also released enhancements to its multi-question survey with ability to display multiple questions in a single step for optimized completion rates. Significant upgrades were made to the Gainsight PX Mobile SDK to natively support hybrid mobile applications. The company also built on its strength of supporting businesses with multiple products by launching Gainsight PX Multi-Subscription Admin which enables the management of global throttling and template sharing, making it easier to seamlessly orchestrate user experience across products. And Gainsight introduced a product mapper enhancement which adds heat mapping of instrumented features on each application page, making it easy to identify areas of the product that have been mapped or not. 

Gainsight Announces Pulse Impact to Expand Customer Success Employment Opportunities

Gainsight doubled-down on its support of the communities where its employees, customers, and stakeholders work and live through the launch of Pulse Impact. Inspired by an industry-wide movement for greater Customer Success growth and market performance, Pulse Impact advances an equitable, human-first CS industry culture by addressing professional barriers to success and promoting an inclusive community that reflects the diverse world around us. Led by Gainsight’s Senior Vice President & Chief of Staff, Robin Merritt, key components of the program include job training and mentorship, DEI initiatives, strategic communications, shared platforms and curriculum.

Gainsight Makes Strategic Acquisition of Industry-Leading Community Platform

In January 2022, Gainsight acquired InSided, based in Amsterdam, adding to its portfolio a Customer Success Community platform uniquely designed to leverage the power of communities to drive product engagement and adoption, increase retention, and build lasting customer relationships. In conjunction with the acquisition, Gainsight named Robin van Lieshout, CEO and Founder of InSided, to the position of General Manager. 

Gainsight Grew Its Team and Earned Multiple Awards 

Also in January 2022, Gainsight announced the appointment of Brian Shelton to CFO. The company now has over 1,000 employees, an increase of 40% year-over-year. Additionally, Gainsight was awarded the Excellence in Engineering Award and Nick Mehta received the Top Individual Contributor Award (Flagship Fund) from the company’s investor, Vista Equity Partners.

Finally, Gainsight garnered the highly competitive Great Place To Work award from Great Place to Work for the second year in a row, and Mickey Alon, CTO of Gainsight PX, was named one of the Top 25 CTOs in 2022.

About Gainsight

Gainsight’s innovative technology helps companies increase product adoption and drive greater net revenue retention by identifying at-risk customers, creating systematic processes to mitigate concerns and efficiently ramping up engagement efforts. Gainsight’s platform offers a powerful set of solutions focused on customer success, product experience, and community engagement that together enable businesses to put the customer at the center of everything they do. Learn how leading companies such as GE Digital, SAP Concur, and Box use Gainsight at www.gainsight.com.   

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Media Contact:

Jordan Sher

Vice President, Corporate and Brand Marketing

jsher@gainsight.com