2023 Customer Success Leadership Study, based on a detailed survey of more than 1,200 CS leaders, also reveals significant adoption of AI and new technology.
WASHINGTON, Oct. 9, 2023 /PRNewswire/ -- ChurnZero, the platform and partner for customer success, together with SaaStr, ESG and HubSpot, has released the 2023 Customer Success Leadership Study: its fourth and largest annual study of the customer success (CS) teams driving recurring revenue and customer-led growth at SaaS and subscription businesses.
2023's study reveals that although the tough economy has impacted customer success teams, who remain understaffed according to benchmarks, with headcount and budget growth at a standstill, they are becoming more operationally sophisticated and better equipped with purpose-built technology and new tools like AI. Additionally, CS teams' metrics have shifted, reflecting how they contribute to their organization, with greater emphasis on improving churn rate, renewals, and expansion revenue under the overarching, top metric of NRR (net recurring revenue).
Based on a detailed survey of CS leaders worldwide, conducted between May 23 and July 15, 2023, the study focuses on four key areas: the influence of CS within the wider organization, the organizational alignment of CS teams, CS operations, and CS leaders' goals and aspirations. An expanded set of questions for 2023 addressed current and future usage of AI, compensation for renewals and expansion, and the frequency of in-person customer interactions. Survey respondents were most likely to be directors or senior directors of customer success, reporting to CEOs of companies with between $5m and $49m in revenue and between 51 and 200 employees.
"Customer success is a pivotal function within every SaaS organization," says You Mon Tsang, CEO and co-founder, ChurnZero. "The recent headwinds have prompted SaaS leaders and investors to hit the brakes on 'growth at all costs', and to refocus on profitable, sustainable, customer-led growth. While not immune to our industry's wider budget and headcount freezes, CS teams have earned their influence as revenue and growth drivers."
On Wednesday, October 18, leaders from ChurnZero, ESG, SaaStr and HubSpot will analyze key findings from 2023's Customer Success Leadership Study in a live webinar. These findings include:
Download the 2023 Customer Success Leadership Study in full at ChurnZero.
About ChurnZero
ChurnZero is the platform and partner for customer success, dedicated to helping subscription businesses grow and succeed at scale.
ChurnZero's customer success software provides automation, in-app communication, health scoring, actionable reporting, revenue forecasting, and Customer Success AItm to help Customer Success teams work efficiently, deliver greater customer value, and drive more revenue.
The ChurnZero team prides itself on being a top-rated partner, consultant, and coach to customer success teams worldwide who use ChurnZero to increase and scale their impact.
Founded in 2015, ChurnZero is a remote-first company with headquarters in Washington, D.C., and an office in Amsterdam.
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