Yes! You Need to Close. You’ve done all you can to provide the best possible customer experience. You have a terrific customer success team and you regularly communicate with all of your customers to offer help and suggestions – without being too sales or spammy. Throughout the year, you’ve kept your customer success and your …
Is putting added emphasis on pushing customers early and often for a decision to renew is worth the effort? According to a 2011 report from Morgan Stanley, on average, for the technology sector, 30-40% of the revenue and about 50% of the profits are driven by recurring revenue. For those exclusively focused on web-based software …
Want Renewals? Step 3- The Decision: Ask Early and Often Read More »
It would be nice to believe that your customers are loyal; that their relationship with you is valued, and they will give you a chance to respond to any claims or promises made by your competitors. Yes, it would be nice to believe that but not too bright. Even though you can assume that a …
Want Renewals? Step 2- Customer Nurturing – Think Negative Churn Read More »
Everybody knows that the squeaky wheel gets the grease, and your customer service or account management staff are brutally well aware of that simple axiom. They deal with squeaky wheels every day, slathering on the grease until problems are solved, questions are answered, information is provided and clients are purring with satisfaction. Once the intensity …
Want Renewals? Step 1- Reach Out from Customer Service Read More »
As more companies take advantage of new online business opportunities and models, the importance of a segmented communications program to support contract renewals is more critical than ever. With some companies, maintenance agreement and support contract renewals are almost treated as an afterthought, but that is changing. There is simply too much money at stake. …
Renewal Revenue Goals Need a Communications Plan Read More »
According to Morgan Stanley, 30-40% of the revenue and over 50% of technology company profits come from recurring revenue- and that number is even higher for SaaS/XaaS organizations. From 2012-2014 “cloud billing” will grow by about 35% Given it’s importance, one would expect that companies depending on recurring revenue would have that re-sell process firmly …
Background – A North American security software developer, selling to business organizations of all sizes, was concerned about the low rate of maintenance agreement renewals from its base of smaller customers (under 50 seats). Because they already knew that a call from the sales reps at 90, 60 and if necessary 30 days, was the …
Case Study – Solving a Small Account Renewal Challenge Read More »
Background: A large non-software client needed to improve their renewal rates and the accuracy of revenue projections. In a weak market the contract renewal rate had been declining and even with over 61 dedicated phone reps, over 40% of renewal sales lapsed without any sales follow up. Challenge: Because the previous sales management had supported …
More Renewals and Better Forecasts with Guided Voicemail Read More »
