The Ledger, every show

“So in our business kind of predicting churn, you know what the number one predictor of customers retaining is? If the customer's CEO is friends with the vendor's CEO, right?”

“I've seen a lot of startups for growth stage companies where their net retention rate is down 1015, or 20 points year over year.”

“And we looked at this year versus last year on average gross attention is down one point. But again, this includes a lot of big companies with more sticky products for smaller companies. Gross attention is down anywhere from five to 10 points year over year.”

“And I think the product team is the whole funnel in the future.”

“So I believe that your retention forecast will be hit, because some of your customers will go out of business, and some will hit budget troubles, but your sales forecast will probably hit significantly more than retention.”

“We'll be there in that timeframe.”

“Some spaces tend to you end up being a power law where one company ends up getting more of the space than the others. In other spaces, there's a lot of players, right? Ours is probably ending up a little bit more of a power law”

“Now, the flip side, if you look at my executive team today, we're 1300 people. Let me just go through it. Chief Customer Officer, seven years ago, was a CSM at Gainsight. Head of sales. Nine years ago was a sales rep at Gainsight. Chief marketing officer six y…”

“So again, tying to our ARR, I think it was one to five to 16 to 30, and there's like 48. That was 61, right? And we didn't do anything wrong. It's just like they started having the same number of logos a year. So what that means is like your new bookings flatt…”

“Today we are close to two hundred million of ARR, just about, almost there. And we're about 1200 employees.”

“Honestly, our time to value literally went from, like, you know, months and months and months to now it's, like, average four weeks, and a big chunk of it was this of being more prescriptive.”

“We didn't exit Gainsight. We had a new investor.”

“We're like a hundred and something million of AR now.”

“I think the bottom line of all of this is everyone's going to be affected, particularly in new sales, and we'll talk about retention as well, but your question here is about deals. I think every business is going to be affected, and whether that's a 20% slowdo…”

“And we asked people your net retention rate this year versus last year. So this essentially the chart looks at the X axis is the net retention rate. The Y axis is number of percentage of people that are in each of those buckets. And net retention rate was down…”

“In general, you find roughly in SAS that SMB oriented businesses that sell to SMB have gross retention somewhere between mid seventies and mid eighties. Enterprise oriented businesses that are maybe departmental apps are anywhere from 85 to low nineties. Poor …”

“ServiceNow has almost a hundred percent, for example.”

“We closed our first gigantic enterprise deal. 2.6 million dollars of ARR. The biggest deal we'd done till then was maybe 300 grand, 400 grand. We're high-fiving around the office. I'm sure champagne is being passed around. I don't remember. But it was a big da…”

“We were profitable company now and generating cash and things like that.”

“Glassdoor is kind of B to B part of their company, has a customer success team, and has actually done CS for a long, long time. But they were doing it kind of in hand-to-hand combat, right? Talking to individual customers, sending them emails, and then last ye…”

“And if you check out GitLab's S-one they just filed last week, 154% net retention. Second highest public SaaS company out there in terms of net retention.”

“Yeah, we're close to, I think about a thousand customers now, a little bit more than that, but the ASP has gone up a lot too.”

“And then most of our customers, about 17% of our customers have our PX product today. That means there's 83% still to go buy it.”

“Like for example, Bain Consulting Group did a study for us and found that CSM kind of teams are growing about 30% a year overall.”

“You know, we reported that we had crossed a hundred million of AR and all that.”

“We started the year at 700 employees. I need to update my bio. We're already at 900.”

“I would love to take Gainsight public because, and I have no idea if it will happen or not, but because, I mean, certainly there's an ego part of it. There's a part that I really believe in our business and I want to do it.”

“About seven, seven, 750 customers roughly.”

“We have about 700 customers now, and it's kind of a who's who in technology, so publicly traded SaaS companies like an Okta or Workday or Twilio or DocuSign, big companies that have gone to the cloud like an IBM or an Adobe or a Cisco, as well as companies in …”

“So we don't report exact numbers, but we've had in the gross retention in the nineties, so very good gross retention. And generally speaking, our customers have been willing to partner with us for a very long period of time. And that's been very consistent ove…”

“Yeah, I think it's in that rough range that you just said. We are aggressive, probably not, you know, if you kind of plotted everyone, we're not at the extreme of aggressive, but we're not yet at breakeven, right?”

“Significantly higher than that. Our average customer is spending well into the six figures.”

“In the higher end of that range.”

“You know, I think enterprise, it typically is like 12 to 18 months in that range. I think that's pretty common that our customers, a lot of them are spending a lot of money. So it fluctuates kind of quarter to quarter, but that's the rough range.”

“I think especially as you grow, people are going to say, how are you using AI in your customer journey? It's like a standard checklist question nowadays, right?”

“Klaviyo, Kate Walsh, runs customer support and customer success there, and she's built this incredible model where they basically work with lots of online merchants, e-commerce companies, et cetera, And to get them live on Klabio and getting value, they define…”

“I was ate alone every day, kindergarten through 12th grade, like, the entire time, all the way before college, and never felt like I fit in.”

“So we've got actually a similar number about coming up to 700 employees.”

“And today about 250 customers, 275 employees.”