Investing in customer success functions improves net revenue retention rates

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 01, 2022, 2:55 AM GMT+0

Gainsight and RevOps Squared studied over 350 companies across geographies, sizes and industries.

Gainsight’s study revealed a correlation between net revenue retention (NRR) rates and investments into customer service management. The correlations is that the companies seeing the highest NRR are those that have invested 10% of revenue in customer success and customer success operations (CSops) teams.

95% of all the companies surveyed report that customer success is well-defined or present at their businesses. Companies must look to make strategic, data-driven investments as those can be beneficial to the bottom line.

Further, the research also revealed that churn reduction was a top priority of 83% of respondents. 81% of those polled would prioritise product adoption.

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