How to Design a Value-Based Renewal Management Process

•

4 likes•1,627 views

You can't rely on inertia to renew your customers for you. You can't even rely on customer happiness or delight to ensure a successful renewal event. In the Age of the Customer, the only predictable way to ensure renewal is to ensure your customers achieve their desired outcome. And that's intrinsically linke to value delivery. When you have a renewal process based on value, you're controlling all the variables that are in your control. Learn how to achieve a Value-Based Renewal Management process in this session.

Business

2018
How to Design a Value-Based
Renewal Management
Process
Kelly Dehart
RVP of Customer Account Management

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
“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
FEATURES USED
REPORTING
Reports
& Dashboards
WORKFLOW
PLAYBOOKS
Email Assist
Linked Objects
CTAs
Best Practice
Playbook
TIMELINE

6
FEATURES USED
REPORTING
Reports
& Dashboards
WORKFLOW
PLAYBOOKS
Email Assist
Linked Objects
CTAs
Best Practice
Playbook
TIMELINE

7
WORKFLOW COMPONENTS
Renewals CTA & Playbook
Drive consistent &
timely behavior via CTA
& Best Practice
Playbook

8
WORKFLOW COMPONENTS
Renewal KPIs: Days in Advance (DIA)
Playbook drives
behavior in line
with key Leading
Indicator of
Renewal -
Contacting &
Quoting DIA

9
WORKFLOW COMPONENTS
Leverage Email Assist
Save team members
time by prompting
standard email
templates

11
WORKFLOW COMPONENTS
Linked Objects
Update forecast data from
within the CTA (linked to
Opportunity record)

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
FEATURES USED
REPORTING
Reports
& Dashboards
WORKFLOW
PLAYBOOKS
Email Assist
Linked Objects
CTAs
Best Practice
Playbook
TIMELINE

14
REPORTING & DASHBOARDS PORTFOLIO SUMMARY
Quarterly Rollup

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
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
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

2018
Thank you!
©2018 Gainsight. All Rights Reserved.

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Insurers' journeys to build a mastery in the IoT usage

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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

10. 10 WORKFLOW COMPONENTS

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

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