5 Things You Need to Do to Create a Category (and What Makes Them Super Hard) with Gainsight
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The document discusses 5 things needed to create a new product category and what makes them difficult. It outlines focusing on people not just product, evangelizing the category vision, being authentic at scale, and having a long term view rather than short term goals. Each step is described as challenging because it requires ignoring analysts, gaining early customer buy-in, spreading the message authentically, developing trusted relationships, and prioritizing long term planning over short term gains.
![1. Market is getting sizeable
2. Market is growing rapidly
3. International opportunity is huge
CSM Profession is Exploding [LinkedIn]
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5 Things You Need to Do to Create a Category (and What Makes Them Super Hard) with Gainsight
- 1. 5 Things You Need to Do to Create a Category (and What Makes Them Super Hard) NICK MEHTA CEO Gainsight @nrmehta ANTHONY KENNADA CMO Gainsight @akennada
- 2. 5 Things You Need to Do to Create a Category (and What Makes Them Super Hard) Nick Mehta CEO Gainsight @nrmehta Anthony Kennada CMO Gainsight @akennada
- 3. © Copyright 2018, Gainsight, Inc., All rights reserved December 2012 January 2013
- 4. © Copyright 2018, Gainsight, Inc., All rights reserved
- 5. © Copyright 2018, Gainsight, Inc., All rights reserved
- 8. © Copyright 2018, Gainsight, Inc., All rights reserved
- 9. © Copyright 2018, Gainsight, Inc., All rights reserved
- 10. © Copyright 2018, Gainsight, Inc., All rights reserved Me! Mom
- 11. © Copyright 2018, Gainsight, Inc., All rights reserved
- 12. Category Creation • No/few competitors • Not much noise • No pre-existing notions • No customers
- 13. © Copyright 2018, Gainsight, Inc., All rights reserved
- 14. © Copyright 2018, Gainsight, Inc., All rights reserved NEED TO CREATE CATEGORY AND REAP BENEFITS
- 15. © Copyright 2018, Gainsight, Inc., All rights reserved “Companies that were instrumental in creating their categories accounted for 53% of incremental revenue growth and 74% of incremental market capitalization growth.”
- 16. © Copyright 2018, Gainsight, Inc., All rights reserved
- 17. © Copyright 2018, Gainsight, Inc., All rights reserved Requirement: Have started PeopleSoft previously.
- 18. © Copyright 2018, Gainsight, Inc., All rights reserved
- 19. © Copyright 2018, Gainsight, Inc., All rights reserved
- 20. 5 Things You Need to Do to Create a Category (and What Makes Them Super Hard)
- 21. #1: Ignore Analysts (Initially)
- 22. © Copyright 2018, Gainsight, Inc., All rights reserved Customer Support CRM Account Mgmt.
- 23. © Copyright 2018, Gainsight, Inc., All rights reserved
- 25. "You need to find a demographic and a customer that no other software company is paying attention to in a modern way, and help them realize their ultimate ambition. Your software comes way down the road -- your job is to make them be heroes. Make them feel like they are transforming their business in the role that they have, internalizing that there is a company out there that cares about me, cares about my role.”
- 26. At the end of the day, the customer defines the category.
- 28. Hard, because no one will tell you it’s the right idea.
- 29. Category Name Suggestions • Customer analytics • Customer machine learning • Customer business intelligence • Customer insights • Customer artificial intelligence • Customer autonomous scooters
- 30. #2: Focus on People, Not Just Product
- 31. © Copyright 2018, Gainsight, Inc., All rights reserved
- 32. © Copyright 2018, Gainsight, Inc., All rights reserved “We should host an event…”
- 34. Funny Pulse photo from 2013
- 35. 2013 300 2014 927 2015 2039 2016 3200 2017 4026 2018 5000+
- 37. A Lifestyle Brand for Customer Success Industry Conferences Content & Digital Community GroupsEducation & Careers
- 40. Community Learnings 1. So many lessons from open source 2. Huge value to branding separate from company 3. “Momentum” is important 4. All about connecting people 5. This is your product too!
- 41. Hard, because CFOs or investors may not get it.
- 42. “Not all things worth counting are countable and not all things that count are worth counting.” Albert Einstein
- 43. #3: Evangelize
- 46. © Copyright 2018, Gainsight, Inc., All rights reserved 50,000+ copies sold Translated into Japanese and Portuguese “… more than 2 years after publication. It’s unusual for a book to sell so consistently at this point in its life—most books have flamed out by this point.” - John Wiley & Sons
- 47. Content Learnings 1. Authentically get into daily mindset of community 2. Don’t just focus on content related to your product 3. Go for reach (LinkedIn posts, blogs) over capture (gated) 4. Podcasts work really well 5. Book is huge amount of effort but home run to reach broad audience
- 48. Hard, because you need ‘voices of the customer’ in your company.
- 49. #4: Be Authentic at Scale
- 50. Our Purpose Our Values To be living proof that you can win in business while being human first. Golden Rule Childlike Joy Shoshin (Beginner’s Mind) Success for All Childlike Joy Shoshin Stay Thirsty
- 51. “Authenticity is the most effective form of leadership. In business, time is currency, and the ability to create trusted relationships at scale is a superpower.” Keith Krach
- 52. © Copyright 2018, Gainsight, Inc., All rights reserved
- 53. © Copyright 2018, Gainsight, Inc., All rights reserved
- 54. © Copyright 2018, Gainsight, Inc., All rights reserved
- 55. © Copyright 2018, Gainsight, Inc., All rights reserved
- 56. © Copyright 2018, Gainsight, Inc., All rights reserved
- 58. Brand Learnings 1. Blurred lines between company, culture, community 2. Conferences create great opportunity to break walls 3. Needs to be authentic to company 4. Have no shame!
- 59. Hard, because you need to get comfortable being vulnerable.
- 61. #5: Be Long Term Greedy
- 62. 1. Market is getting sizeable 2. Market is growing rapidly 3. International opportunity is huge CSM Profession is Exploding [LinkedIn] 3883 7522 16203 32479 2015 2016 2017 2018
- 63. Tech Go-to-Market: Make Customer Success a Cornerstone of Your Customer Experience Strategy Customer Success Management is the Key to Outstanding B2B Customer Experiences Introducing Customer Success 2.0: The New Growth Engine How Smart, Connected Products Are Transforming Companies Customer Success: Creating a Virtual Cycle of Adoption, Loyalty and Revenue
- 64. Hard, because short-term planning is… well, hard.
- 67. THANK YOU