2010-2019 was a key decade of growth for enterprise-focused SaaS businesses, and this continued into 2020. At least, until the Covid-19 crisis hit. Now, instead of favoring the pursuit of new logos while frequently neglecting their existing customers, the time has come to really invest in customer success instead of just pretending to do so.
In recent weeks Zoom has rapidly overtaken competitors to become the videoconferencing app of choice for business, government, and individual users as a result of the confluence between the Covid-19 pandemic and the massive spike in demand for an effective way of staying in touch with loved ones or conducting meetings from enforced social distancing or self-isolation in their homes. What explains Zoom’s success, and what risks must Zoom avoid if it is to solidify its leadership?