Can you afford to acquire new clients every time you lose one of his existing clients?
No, right? The loss of MRR (monthly recurring revenue), the higher cost of acquiring new customers, etc. are some of the reasons behind this. Customer retention is one of the most important functions which requires a customer success manager’s constant attention.
Customer retention is the lifeblood of a SaaS business. If your customers stop using your services, you would not have any revenue whatsoever. The key is to keep, nurture and cultivate them.
The objective of this template is to clearly define the step-by-step process for renewals of key accounts
- * Account study- Study the account health parameters and identify renewal opportunity
- * Action Plan- Create commercial renewal plan post-analysis of account study involving CX Head
- * Connect with the right stakeholders- Connect with the decision makers and share updated commercial plans. You can offer discounts, other modules or upgrades also.
- * Decision- Follow up with right stakeholders in case decision is yet not made
- * Renewed- Update contract with new commercials if the decision is positive