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.
Because the previous sales management had supported aggressive, high pressure selling tactics, the new sales team was subjected to many negative customer encounters when making renewal calls. As a result call volumes were well below objectives.
- Email was considered and rejected as it created very low response rates. It also failed as a means to rebuild a personal and positive relationship with some irate customers.
- Replacing reps who did not meet calling quotas was rejected since the problem extended to over 80% of the sales team.
The Company selected Boxpilot to execute an intensive calling campaign with voicemail plus synchronized email left 60, 45 and 30 days prior to renewals. The messages were recorded by the sales reps and provided information about renewals with a concerted effort to communicate the emphasis on better customer service and a positive tonality.
Within 120 days the percentage of resolved renewals increased from 56 to 75% and the positive response for renewals increased from 25 – 33%. While the positive responses were lower than desired, they were significantly better than before and the company management was able to create benchmarks of anticipated renewals to create new incentives for both the customers and the sales team.