How to Design a Value-Based Renewal Management Process
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The document discusses the development of a value-based renewal management process to improve customer renewal experiences and create visibility into renewal performance. It identifies key business pain points, such as lack of standardized practices and forecasting processes, and outlines essential workflow components and features to enhance the renewals process. The aim is to implement consistent engagement practices and utilize reporting tools for better management oversight of renewals.
How to Design a Value-Based Renewal Management Process
- 1. 2018 How to Design a Value-Based Renewal Management Process Kelly Dehart RVP of Customer Account Management
- 2. 2©2018 Gainsight. All Rights Reserved. BUSINESS PAINPOINTS No clear playbook for managing renewals and coordinating across functions No standardized leading indicators to influence future performance Repetitive motions that would benefit from automation Lack of visibility into upcoming renewals & risky renewals No process for forecasting renewal likelihood or performance relative to targets
- 3. 3 Build a scalable renewals process, which optimizes the likelihood of a successful, on-time renewal AND provides visibility & predictability at the portfolio level. Do this in a way that generates an experience for our customer that aligns with our values. THE MISSION
- 4. 4 “In the Renewal Management Element, you will implement processes and motions aimed to (1) provide a consistent framework for engaging your customers throughout the renewal process and (2) provide rollups enabling management oversight of the renewals book of business RENEWAL MANAGEMENT ELEMENT
- 5. 5 FEATURES USED REPORTING Reports & Dashboards WORKFLOW PLAYBOOKS Email Assist Linked Objects CTAs Best Practice Playbook TIMELINE
- 6. 6 FEATURES USED REPORTING Reports & Dashboards WORKFLOW PLAYBOOKS Email Assist Linked Objects CTAs Best Practice Playbook TIMELINE
- 7. 7 WORKFLOW COMPONENTS Renewals CTA & Playbook Drive consistent & timely behavior via CTA & Best Practice Playbook
- 8. 8 WORKFLOW COMPONENTS Renewal KPIs: Days in Advance (DIA) Playbook drives behavior in line with key Leading Indicator of Renewal - Contacting & Quoting DIA
- 9. 9 WORKFLOW COMPONENTS Leverage Email Assist Save team members time by prompting standard email templates
- 11. 11 WORKFLOW COMPONENTS Linked Objects Update forecast data from within the CTA (linked to Opportunity record)
- 12. 12 WORKFLOW COMPONENTS Timeline Access Timeline from the CTA to document renewal notes & status details, or to review previous customer updates from other team members
- 13. 13 FEATURES USED REPORTING Reports & Dashboards WORKFLOW PLAYBOOKS Email Assist Linked Objects CTAs Best Practice Playbook TIMELINE
- 14. 14 REPORTING & DASHBOARDS PORTFOLIO SUMMARY Quarterly Rollup
- 15. 15 REPORTING & DASHBOARDS PORTFOLIO SUMMARY Remaining Renewals by Forecast Category Open Renewal Details Deal by Deal details for forecast rollups & 1:1s Use In-Line filters for quick views by Expiration Month, Forecast Category, etc.
- 16. 16 No Contact Proposal Sent DM Discussion REPORTING & DASHBOARDS LEADING INDICATORS DIA: Renewals by Expiration Month Links to DIA Tasks in Playbook. Quickly understand renewal qualification status by expiration month. Identify areas of focus and drive team accordingly
- 17. 17 Sally Sam Sarah REPORTING & DASHBOARDS LEADING INDICATORS DIA: Renewals outside of SLA Links to DIA Tasks in Playbook. Quickly identify deals that are outside of their Days in Advance SLA
- 18. 2018 Thank you! ©2018 Gainsight. All Rights Reserved.