Vulnerability as strength in business: Nick Mehta of Gainsight

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Orbit - An Hg software leadership podcast 37 min 1 speaker 8 chapters transcribed 1 month ago
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What is Gainsight’s “human‑first” mission and why does it matter?

Nick Mehta 0:00
We have a mission statement in our company, and the mission statement has nothing to do with customer success or SaaS. It's to be living proof you can win in business while being human first.
Joe Jefferies 0:10
Welcome to orbit. the HG podcast series where we speak to leaders from across the tech ecosystem to hear how they've built and scaled some of the most successful companies in the world. I'm Joe Jeffries, a director in our Saturn fund, and I'm delighted to be joined by Nick Meta today, the longtime CEO of Gainsight. Nick, thank you so much for taking the time to join us on our HG Orbit podcast today. It's great to have you here.
Nick Mehta 0:34
Joe, it's so great to see you. I I love just learning from you and the team at HG Capital and couldn't be more excited about the for this podcast.
Joe Jefferies 0:41
So for those of you that don't know, Nick, you've been the CEO of GainSite for over a decade now. GainSite's the leading customer success software business globally. You've got more than two hundred million dollars of ARR. And you and your business have effectively defined the customer success software segment as your business has grown. Better in your words though. So do you want to summarize GainSight today, Nick, and the journey that you've been on over the last decade or so? GainSight, we launched a company in
Nick Mehta 1:05
2013. And in 2013, the insight we had or the belief we had was that companies are going to move more and more to recurring gravity business models. You know, so the traditional business model of selling something and then just waiting for the support call works in a transactional business where you're just selling a you know a widget or a product or something. But in a world where you're selling a subscription, you're selling SaaS, cloud, consumption-based pricing. Anything that's a recurring relationship, you have to think differently. You can't just sell and walk away. The sale is the beginning of the life cycle, not the end. After the sale, you gotta onboard them. You got to get them to use your product, you get that like get them to like it, be an advocate, you know, connect with other customers.
Nick Mehta 1:48
And so we believe that. This is critical to driving one of the most important metrics in business, which is some people would call it a net retention rate. How much am I keeping and growing my existing clients? So Gainsight, we built a suite of products after you know years of customer feedback, started with this software called Gainsight Customer Success, which is the by far the leading platform to help companies help their CSMs be more proactive. Focus on the right customers, identify risk, and scale. That's used by more than 100,000 CSMs every day. About half of the CSMs on the world use Gatesite. And then over time we realize, hey, it's not just about the CSM, it's about the customer journey. And so we introduced this concept internally we talked about called customer OS, customer operating system.
Nick Mehta 2:34
How do you drive that whole journey from onboarding to adoption to renewal, expansion, advocacy? So today we have five products, our customer success product, a customer community product to get customers to talk to each other and connect and learn. Customer education product focused on enabling customers through self-service learning content to be experts at using the product. uh what we call our product experience product which is all about embedding in the product tracking usage and driving adoption through in-app guides. And then finally, most recently, what we call staircase, which is a generative AI solution to help you understand where there's risk in your customers based on looking at all the communications, all the emails, all the video meetings, all the Slack messages, et cetera.
Nick Mehta 3:18
So our kind of direction is how do we look at that entire customer journey? orchestrate it end to end so that you improve net retention and you do it in a scalable and
Joe Jefferies 3:27
efficient way. So if I take a step back, you're a Harvard graduate by background. You've worked in Silicon Valley for over twenty years now. multiple venture capital and private equity firms along the way.

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