Relationship Retention and Growth Best Practices
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Assure that customers remain actively engaged and productive with the products they own.
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Conduct ongoing assessments to determine if customers are satisfied. Use appropriate assessment techniques such as a health index, transactional surveys, customer interviews and relationship surveys.
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Help customers to understand the benefits they receive from services. Go beyond the number of times a customer has called and help them understand how Success and Support entitlements positively impact their ability to conduct business.
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Nurture and retain existing customers and identify opportunities to grow the relationship by creating opportunities to apply new product and services.
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Institute polices and allocate staffing to proactively ask customers for the renewal. Don’t assume that customers will renew, ask them.
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When customers decline to renew their services investigate the underlying reasons and formulate plans to overcome renewal objections.
Resources
Recurring Revenue Rate
Recurring Revenue Rate provides an indication of how much recurring relationship value you are retaining, growing or losing. It's a crucial metric of how well your Support organization is reaping the benefits of the subscription model. Here's how to calculate...
Seven Engagement Practices for a Successful Sales-to-Service Handoff
Whether Sales in your organization is the responsibility of partners or a direct sales team, those responsible for selling and closing new business create the first impression of your product or service. A successful sales-to-service handoff is essential to...
Three Critical Metrics to Retain and Grow Customer Relationship Value
If you inventory all the metrics used by your customer-facing organizations – Sales, Marketing and Service - you'll find an impressive collection of data elements that describe how you interact with your customers. But with all your customer metrics, what do you...
Essential Customer Success Activities
Customer Success—and the recurring revenue it generates—results from a series of intentional, interrelated activities performed throughout the customer relationship lifecycle. As shown in this graphic, effective customer success activities comprise a continuum:...
GUEST POST: Sell Services Faster and More Accurately
Company executives understand that selling services alongside core product offerings leads to greater alignment and customer value, while subsequently decreasing the likelihood of customer churn and loss of recurring revenue. While products form the basis of a...
How to Measure Net Recurring Revenue
Net Recurring Revenue is a comprehensive indicator that reveals the extent to which you are retaining, expanding, and growing customer relationship value. Examining the specific underlying elements that contribute to the calculation of Net Recurring Revenue provides...
Assessments
Customer Success Health Assessment
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Service Renewal Assessment
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Customer Success Management
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