Growth reflects success and the focus of subscription-based businesses on Customer Success during economic volatility.
WASHINGTON, July 25, 2022 /PRNewswire/ — ChurnZero, a leading Customer Success platform, stands ready to help organizations fortify the foundation of their businesses: existing customers. The company announced today a continued commitment to expand internal resources and add headcount as the Customer Success industry and subscription-based companies shift focus more and more to customer retention in light of the current uncertain economic environment.
“In a downturn, new leads slow, win rates narrow, and deals take longer to close,” said You Mon Tsang, CEO and co-founder, ChurnZero. “The rule of thumb is that it costs five to seven times more to win a new customer than it does to keep a current one. As that multiple expands, each dollar invested in customer retention matters more. The most agile companies are focusing on Customer Success and using customer data to get ahead of expansion opportunities and potential risk.”
ChurnZero is dedicated to supporting these companies in need as well as their existing customer base. The company has more than doubled its staff in the last year, bringing on more than 100 new employees in the last six months, with nearly 30% being customer-facing or customer support roles.
The growth in the ChurnZero team includes two key executive appointments: Aaron Levine as chief financial officer and Allison Tiscornia as chief customer officer. The company is particularly proud that 40% of the team is comprised of women, ahead of the tech industry average of 33%.
Plans also include additional new hires in the sales, development, implementation, G&A and marketing departments.
Over the past three years, ChurnZero has gone from new entrant status to being recognized as a leader and one of the fastest-growing Customer Success platforms in the industry. Among the most notable of many recent accolades is being named among G2’s “Best Relationship” and “Software Leader” for more than 16 consecutive quarters, underscoring ChurnZero’s unique commitment to delivering both ongoing partnership and continued platform innovation for subscription businesses to deliver the best possible customer experiences.
“Companies that stand the test of time are those who are obsessed with their customers,” continued Tsang. “It is these customer-centric companies that can be agile and resilient in the face of market changes and who thrive even when budgets grow tighter. ChurnZero strives to be this company and to arm other organizations with the tools to thrive as well.”