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McKinsey, 2021 (SaaS and the Rule of 40)
"Slower-growing Saas companies underinvest in customer success.
Neglecting existing customers ends up adding costs in the long run, resulting in more churn, lower cross- and upsell, and more pressure on sales teams just to stay level."
Why Does Customer Success Matter?
A 5% increase in customer retention can increase a company’s profitability by 75%
Source Bain & Company
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The cost of acquiring a new customer can range from 5-25x more expensive than keeping an existing one.
Source Harvard Business Review
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60-80% of customers who describe themselves as satisfied do not go back to do more business with the company that initially satisfied them.
Source Bain & Company
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