Relying solely on net retention can be misleading, as it can be influenced by a small number of customers with rapid organic growth.
Furthermore, aligning incentives for your teams to impact both metrics is essential. ๐
NRR vs. GRR: a ๐งต
SaaS companies often emphasize the importance of net revenue retention, and rightly so! Achieving a 125% net retention rate implies the ability to sustain growth even without acquiring new customers. ๐ฐ
#CSM#Strategy#Startups#Revenue#Business#Management
There's an additional layer of complexity in these numbers: 43% of the gross churn can be attributed to contraction, indicating potential issues with pricing or specific product lines.
It's imperative always to evaluate net and gross rates together.
๐จ You will always need strategic, commercially savvy, and relationship-oriented Customer Success Managers! ๐ค๐ฐ๐
Let's go back to 2003 and work our way up to 2023 and AI! ๐ค
A๐งต:
#CSM#AI#Data#MachineLearning#CX#CRM#B2B#SaaS
๐จ You will always need strategic, commercially savvy, and relationship-oriented Customer Success Managers! ๐ค๐ฐ๐
Let's go back to 2003 and work our way up to 2023 and AI! ๐ค
A๐งต:
#CSM#AI#Data#MachineLearning#CX#CRM#B2B#SaaS
There is a whole world where great CSMs can become consultants and own their time. They can monetise their skills and not depend on any company to make money. No pay ceiling, no promotion cycles, no kissing up to a managerโฆ. The CS Solopreneur!
#CSM#Entrepreneur#MondayMood