Were you unable to attend Transform 2022? Check out all of the summit sessions in our on-demand library now! Watch here.
It’s no secret that prioritizing customer success ties directly to business value. A recent study by customer success software platform, Gainsight, supports this and found that, in fact, churn reduction and product adoption were top priorities for over 80% of respondents.
In a move to allow businesses to zero in on product innovation, customer collaboration and management, Gainsight just released several AI-powered updates to its customer success (CS) technology platform at its annual conference Pulse 2022, held this week in San Francisco.
Gainsight, which was founded in 2009, focuses on orchestrating customer-facing teams and data together into actionable dashboards and playbooks. Its platform is designed to empower companies to drive growth through net revenue retention and product adoption. The solution combines customer success, product experience and community software for a unified perspective of the customer journey, user experience (UX) and collaboration.
“Customer success is evolving from a single department’s responsibility to a company-wide initiative,” said Maksim Ovsyannikov, executive vice president of products and design at Gainsight. “As a result, executives at SaaS [software-as-a-service] businesses are adopting new KPIs and frameworks that require multiple departments such as product management, sales, marketing, etc. to partner with customer success teams to deliver value and positive business outcomes for their customers.”
MetaBeat will bring together thought leaders to give guidance on how metaverse technology will transform the way all industries communicate and do business on October 4 in San Francisco, CA.
An all-digital touch to customer collaboration
The new features Gainsight introduced are Nucleus and Nucleus Spaces, both of which are designed to allow companies to engage with their customers at scale across an arrayof resources that include community content, product documentation, success planning and adoption trends.
“Nucleus and Nucleus Spaces are designed to bring together all customer content, product feedback/ideation and other customer-facing capabilities across Gainsight’s product lines (CS, PX, inSided) into a centralized customer-facing hub,” Ovsynaikov said. “With Nucleus, businesses will be able to digitally scale collaboration, education, support and efficiently drive success across all stages of the customer journey.”
Customer-centric product innovation
With this release, Gainsight hopes to bring the voice of customers and customer communities closer to product management teams. Product Requests acknowledge the overlap between customer success and product teams when it comes to capturing customer requests that appear in both Gainsight 360 and Productboard. For example, this makes it easier for customer success teams to submit product requests to product management teams directly in Gainsight CS and to track the progress of those requests in a structured way.
AI-optimized customer management
Gainsight says it taps the power of AI to optimize critical aspects of customer management at scale to drive higher adoption and minimize churn. Gainsight’s Journey Optimizer, Scorecard Optimizer and Retention Optimizer – all powered by the company’s powered by Horizon AI – help customers make sense of ever-increasing amounts of data, and help find deeper insights into the customer journey. Specific features of the new offerings include the following:
- Journey Optimize automatically suggests what steps to add to a customer journey.
- Scorecard Optimizer improves the accuracy of a company’s existing health score model. It makes intelligent recommendations for scorecard changes – such as different weightings, new measures to include, and thresholds – to improve the accuracy and predictive power of scorecards.
- Product teams can use Retention Optimizer to provide a better product experience for customers. The Horizon AI-enabled capability automatically identifies the stickiest features and surfaces opportunities to further improve user retention. With this, Gainsight says its customers gain new product insights without spending time trying to discover them.
Along with the product announcements, Gainsight also launched The Durable Growth Playbook, a framework focused on the six key cross-departmental steps SaaS companies can take today to drive growth that endures market headwinds.
By leveraging these best practices, Gainsight claims companies can better anticipate the risk factors associated with customer churn, drive greater product adoption, identify expansions and ultimately increase net revenue retention.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.