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Steps You Can Take to Ensure a Frictionless Renewal

Renewals Growth

向云计算的转变以及订阅模式在许多行业的兴起,已经不是什么秘密了,这凸显了企业需要这样做 consistently show value and create a delightful, frictionless customer journey experience. 当你的客户需要续签合同时,对无障碍体验的需求就显得尤为迫切. 正如阿尔多•古驰(Aldo Gucci)曾经说过的那样,“在价格被遗忘之后,品质仍被长久铭记。.当涉及到用户粘性和产品价值时,这一点尤其正确. 

Often, 当涉及到续签合同时,大型企业失去了对低花费(或长尾)客户的关注. 您可以使用许多策略来确保在客户生命周期中实现价值, recognize churn risks earlier, better understand customer buying behaviors, and increase renewal rates across your entire install base. 但要达到这种水平的洞察力和性能,您必须消除障碍. 在这篇博客中,奥博体育将解决一些常见的摩擦点,以及奥博体育如何帮助克服它们. 

 

Friction Point One: 

Sending Out Renewals Quotes Too Late 

奥博体育与企业(以及他们的合作伙伴)在更新工作中经常遇到的最重要的摩擦是,他们向客户提供更新活动的时间太迟. Often, 这些商家直到续约活动前30天才会主动联系客户(尤其是低成本客户), sometimes as little as 2-3 weeks in advance. If you don’t allow customers time to gain necessary approvals, you risk securing the on-time renewal or worse, losing the customer. 对于与奥博体育合作的许多企业来说,1万美元的产品更新似乎是小菜一碟, 但是对于他们的客户来说,他们的预算要小得多(特别是在SMB领域), and these events are a much bigger deal.  

How to Overcome this Friction Point: 在续订活动结束后的90-120天内将续订报价送到客户手中. 这段时间允许你的更新代表有足够的时间来覆盖库存解决任何问题, changes, or pricing disputes. For renewal contracts with federal, state, or local governments, ensure that your team reaches out 120 days in advance. 

 

Friction Point Two:  

Not Having a Clear Approval Path for Renewals  

您的续签代表在您的客户的业务中有一个负责人或决策权. 然而,你的决策者通常还需要得到领导、财务、法律等方面的批准., to approve the contract. 你的销售代表能不能在每到最后一刻准时续签协议的时候,打电话给整个指挥系统,让协议得到批准?  

How to Overcome this Friction Point: There are various qualification criteria that we use, 但归根结底,要知道需要做什么才能让客户购买. Ensure that your teams identify the need, who supports the purchase (decision criteria and budget), approval chain (decision process), and timelines.  

 当报价发送给客户时,可以与决策者和renew代表进行健康检查对话. Use the discussion to ensure that the original need, budget, approval chain, and timeline used to qualify the account is still relevant. 如果对授权链有更新,请在客户帐户上做笔记. To streamline the approval process, have a clear path of the authority chain (point person in finance, legal, etc.) so that contract renewals can go straight to the source.

Friction Point Three:  

Renewal Coverage Model is Not Focused on the Lower-Tiered Segment 

Many customers, especially in the long-tail segment, only receive an email from their renewal rep 60 days out, ten days out, and the day the contract expires. 他们实际上不与任何人交谈,以了解客户如何享受产品/服务或是否有任何问题,直到他们续签合同(有时是多年后). This is a secure way to lose a customer in today’s SaaS world. 

一旦一个新的客户合同结束,入职过程就完成了, your team should start the renewal process. 这使您的续订经理能够跟踪关键的里程碑,这对与客户沟通至关重要. 

例如,合同签订六个月后,你的续签经理应该去做个脉搏检查. Ask if they are getting the value out of the product/service, if they need assistance, like more training, to get the most value out of certain features. The goal should always be to ensure that your customer is successful, healthy, and happy with your product/service.

How to Overcome this Friction Point: 

  1. Incentivize 你的团队应该关注整个客户区域,而不是只关注高收入的客户. 
  2. 如果您的业务没有专门的续签代表,您的客户主管拥有新的标识和续签, ensure that they allocate enough time to focus on the renewal process. 
  3. 不要让他们负担太多的账户,这样他们就不能专注于他们的整个渠道. 

Friction Point Four:  

Reps Not Knowing Where to Focus Their Efforts  

How well does your organization measure and track renewal KPIs? Businesses often track renewal rate, retention rate, etc.,但他们没有分割更新率,以正确理解数据背后的故事.  

How to Overcome this Friction Point: 将更新率分解为三个子组件有助于确定你的销售代表是否在销售你的产品/服务价值,并可以发现与你的长尾客户之间的问题. Here, we break down three critical components to a renewal rate: 

Resolution Rate: 这个度量度量了您的团队从整个流程中获得了多少答案(“是”和“否”). It proves how well a renewals team covers a “batch” of business. If you’re experiencing a low-resolution conversion rate, 你的团队可能过于关注最赚钱的交易,而对其他交易关注不够.   

分辨率还可以帮助判断你是否在销售渠道中保留了太长时间的死亡机会, thus clogging it up with useless data.   

Close Rate: 你的接近率本质上是有多少客户——在那些回应者中——告诉你“是”.它衡量的是你的团队在多大程度上向公司推销了更新的价值. This metric also enables you to understand why a customer did not renew, 无论是与产品价值相关,还是由客户倒闭引起.  

Conversion Rate: 转换率将已完成的机会金额与当前和之前已完成的交易金额进行比较. This tells you how well your team can increase 

the value of a contract using tactics like multi-years, upselling, cross-selling, add-ons, and upgrades. 转化率可以是负的,这可以为你的未来策略提供参考.   

 

You Can Create a Frictionless Customer Journey Experience 

在一天结束的时候,你的目标应该始终是让生意容易相处. Whether it’s a lack of knowledge around who approves contracts, a lack of insights into where to focus your team’s efforts, or the lack of human touch, 您的组织可以采取上述步骤来创建一个真正无障碍的续订流程. 澳博体育app拥有超过20年创造卓越客户旅程体验的经验, from acquisition through renewals. 奥博体育可以帮助您获得洞察力,扩大全球规模,或增强您当前的资源能力. To learn more, reach out to a talk with a renewals expert today. 

 

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