We believe there’s a goldmine in your current customer base when Client Services Teams have a solid strategy to manage your relationships.
Does this sound familiar?
They licensed your solution, they signed up for a lower tier of users and options, they didn’t really implement it well, they didn’t interact during the subscription, and just before their renewal deadline you received an email informing you that they would no longer be using your platform.
Now you’re in crisis mode with a client you hardly know. You ask for a meeting, beg for continuation, ask what went wrong, offer discounts, etc. The problem was, they simply didn’t use the application like they thought they would and the cancellation is being directed by an executive that no one had met.
“With the right plan in place you’ll get the renewals AND grow revenue long after the sale.”
You Need a T minus 12 Strategy
No matter what you offer, this is a relationship business. It is up to the people on your team to help each client achieve the transformative change your sales people promised your customers. You have to be more than a question and answer resource and order takers.
A T Minus 12 Strategy includes goals and tactics that count backwards twelve months from your client’s renewal date. Focus on where you want the customers minds and hearts at the renewal of the subscription. Ask yourself these questions:
- Do you have a milestone-based T minus 12 strategy that your Client Success Managers strive to achieve each month of a client’s contract?
- Is your Client Success team prepared to seek executive contact to learn how your solution can contribute to their strategic initiatives?
- Can your team build and validate a T-12 Renewal Map that connects solution functionality to business impacts to an executives strategic initiatives?
- Is your team prepared to proactively demo to clients additional functionality that they have already licensed that will help them achieve those business impacts and the strategic initiative?
- Can your team deliver stories of other successes that align with an individual client’s T-12 Renewal Map?
- Is your team equipped with a methodology for handling even the most difficult questions and objections from individual contributors, managers and executives?
Gold Isn’t the Only Thing You Can Mine
Honest, deep and lasting relationships with customers help you gain real-time intelligence about what is working for them, what isn’t, and what they’d really find valuable in the next build. Close and deepening relationships with your client’s users are the best way to turn the expressed frustrations of a client you might lose and turn it into an opportunity to innovate past your competition. You’re the provider. It’s your job to drive the relationship. Clients will always chart the smoothest course. The deeper you can plant yourself as integral to their success, the harder it will be for them to switch to someone else.
Reducing customer churn starts with the end in mind and builds back to the beginning. Build your T minus 12 strategy, or call us and we’ll build one with you. Don’t just provide a platform and answer questions. Meet their leaders, learn their pain, adopt their goals, help them achieve them, and become the one partner they can’t succeed without.