Determine what at-risk means and how to monitor for it - Deepstash

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Determine what at-risk means and how to monitor for it

The first step of establishing a renewal process is defining the leading indicators of risk within your customer base. They could include:

  • Change of an executive sponsor
  • The number of support tickets opened
  • A drop in usage of your product or key features
  • Negative survey responses or low NPS/CSAT
  • Missed onboarding, adoption, or lifecycle milestones
  • Lack of perceived value by your customer.
  • Lack of visibility or missing indicators that can escalate the possible churn of a customer.

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To effectively improve retention, companies need to have a defined process in place to manage renewals.

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 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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