Acquiring new customers—so-called "new net logos"—has been the prime directive in the B2B tech realm. From private equity to venture capital, from startup to IPO, value was based on the ability to add customers at an ever-increasing rate. When the pandemic struck, adding customers became increasingly challenging, except for essential sectors including security, cloud or remote work capabilities such as Zoom. Attention turned to existing customers, with retention being Job One and upselling the tactic for stability if not growth.
For Carlos Carvajal—who started at K2 Software as CMO in November 2019—the focus on customers began as a research exercise to identify new messaging. What K2 learned proved to be far more important as the pandemic took hold. Fortuitously, the business process-management and automation company was increasingly delivering software to help automate essential, mission-critical processes. Packaging this insight into a new product, K2 had a powerful story to tell existing customers. It drove engagement and revenue and preceded K2's acquisition by Nintex in October.
CMO discusses how K2 adjusted strategy in response to the pandemic.
Read the full Q&A on Ad Age: How App for Mission-Critical Processes Drove Customer Retention for Software Company
Listen to the Episode: B2B Partnerships That Matter
