Community platform and Gainsight SMB sales break records as customer success, product experience, and community drive durable growth despite market headwinds
Gainsight announced the close of its first fiscal quarter of FY2023, during which the company expanded its customer base across its three products, launched its new Essentials offering, released foundational research on the trends in product-led growth adoption and the state of customer success, and added several new enhancements across its customer success and product experience products.
“The market has been a true rollercoaster this quarter, but product-led growth and net revenue retention have a very high correlation to durable success regardless of these ups and downs,” said Nick Mehta, CEO of Gainsight. “It’s clear that our products are offering the right benefits at the right time for companies of all sizes.”
Gainsight’s fiscal first quarter 2023 highlights included:
Record Growth Quarter of InSided, the Gainsight Community Offering
Gainsight recently acquired InSided, a leading self-service community platform for companies like Gong, Miro, and Looker, to drive product adoption, increase retention and build lasting customer advocacy. The market validated this move as the platform saw record growth with its best quarter in its history at an increase of 91% in new bookings from the previous quarter, and the addition of several new logos including Contentsquare, Unbounce, Zencity, Monday.com and Clari.
The Addition of Several Notable Logos in Customer Success and Product Experience
New and notable customers include CDW, Siemens, and Limeade, alongside the logo growth for InSided and Essentials.
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Launch Of Essentials Pricing, Packaging, and Accelerator Program to Help Companies at Any Stage Start and Scale With Gainsight In as Little as Two Weeks
The company launched Gainsight Essentials in March, introducing two new packages and a revamped customer journey designed to make it easier and more affordable for companies of all shapes and sizes to start and scale with Gainsight. More than 20 new customers signed-on with Essentials in Q1, including SmartRecruiters, Uniphore, SupportLogic, and Starburst. Essentials customers can also participate in Essentials Accelerator, a cohort-style program featuring hands-on bootcamps, webinars, office hours, 1:1 mentorship, and other exclusive learning opportunities focused on helping start and scale their customer success program alongside their peers.
New Enhancements In Gainsight CS and PX to Support More Growth, Alignment, and Scale For Customers
Gainsight CS – Gainsight now makes it possible for Customer Success teams to easily share up-sell and cross-sell leads with sales and marketing and track how much revenue that CS teams contribute to the business with the addition of Customer Success Qualified Leads (CSQLs). The company also added integrations with Zoom and Gong, allowing customer-facing teams to immediately access important Gainsight data during customer conversations and automatically log these conversations to the account in Gainsight. Impact Analyzer was also introduced, powered by Horizon AI, which shows how different drivers like scorecard measures or customer sentiment impact business goals like net-promoter score (NPS) and renewals.
Gainsight PX – Gainsight PX continues to support multi-product growth strategies with new capabilities for identifying user drop-off and friction points across multiple products. PX also now allows users to easily view KPIs of multiple products on a single dashboard for quick side-by-side comparison and monitoring. Additionally, the new Engagement Editor delivers an enhanced workflow model making it seamless to preview what the user experience will look like in-app, in real-time. The new WYSIWYG interface delivers a simple way to style, configure, align, and map engagements to product elements without additional coding or CSS.
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The Release of the PLG Index Sharpens the Focus on Trends in Product-Led Growth
Gainsight also released its comprehensive PLG Index, which included data on product-led growth adoption in the SaaS industry. Notable findings include a whopping 91% of companies plan to invest in PLG initiatives this year, and 47% of companies plan to double their PLG investments.
Preparation For Pulse, Its Annual Conference For Customer Success and Product Teams
The company is also preparing for Pulse, its annual conference in San Francisco. This year’s event features keynote speakers including actor and comedian Jason Sudeikis known for his roles in Ted Lasso and SNL, organizational theorist and management consultant Geoffrey Moore known for his groundbreaking book Crossing the Chasm, and author and investor Nir Eyal known for his bestseller Hooked: How to Build Habit-Forming Products. For the first time ever, Pulse will also include a dedicated experience for product professionals including speakers, demos, and activations focused on generating success with product-led growth strategies.
The Addition of a New Chief Financial Officer
The company also promoted Alka Tandan as its new Chief Financial Officer. Tandan has been with Gainsight for over three years and brings over 20 years of corporate finance and operations experience in the technology industry, mostly focused on SaaS. She began her career in investment banking where she helped take Salesforce and Google public as well as holding various strategic and operational roles at MetricStream, Actian Corporation, and SAP. Tandan is also a limited partner and advisor for the venture fund Operator Collective as well as an angel investor, and is a founding member of The F Suite, a community platform for Chief Financial Officers of leading venture capital funds and high growth technology companies.
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