Ideas from books, articles & podcasts.
To effectively improve retention, companies need to have a defined process in place to manage renewals.
Your team will be more efficient in their day-to-day and ensure that nothing slips through the cracks when renewal time comes along. Additionally, it will also allow them to deliver a more consistent and positive customer experience for your customers.
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You need to define a standardized plan of action or a playbook that enables your team to mitigate risks before a renewal cycle. Playbooks help your team be more proactive in managing renewals and provide step-by-step guidance on the actions your team should take to close the renewal.
The first step of establishing a renewal process is defining the leading indicators of risk within your customer base. They could include:
The key to driving a lasting and meaningful impact on customer retention metrics is scaling your processes properly. For most companies, this is where CS technology can have the most significant impact.
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