TRUSTED BY LEADING BRANDS
Identify and prevent revenue leakage.
- Quickly understand which renewals are non-events vs. those that need attention
- Accurately forecast your renewals book of business using machine learning
- Keep tabs on champions to stay ahead of the renewal
Drive a high performing renewals process.
- Reduce cost-to-renew by automating the renewals process for low-risk customers
- Standardize your team’s actions with situation-specific renewals playbooks
- Ensure on-time renewals with pre-configured alerts and notifications
Identify and execute on expansion opportunities to drive growth.
- Analyze rich customer data to identify accounts that are ripe for expansion
- Drill into individual accounts to identify the best path for upsell based on factors such as current products purchased, usage and health
- Create detailed account plans to execute more consistently and power growth in your customer base
“Using Gainsight for revenue optimization has allowed us to both specialize and scale our team. We have built an automated renewal system that can and has frequently facilitated a zero touch renewal plus growth process.”
Revenue leaders who own both renewals as well as new business recognize that managing renewals is a completely different beast. From forecasting to managing KPIs, the renewals motion requires a fundamentally different approach. But what exactly makes managing a renewals business unique? We outline five key differences:
Revenue. It’s the bottom line for any business. But in the new economy, it’s not enough to build a company on one-time transactions. Today’s customers demand successful outcomes and great experiences, and if you don’t provide them, the market is fluid enough to meet their needs when you can’t. But if the economy is operating under new rules, how are you supposed to grow your revenue through renewal, expansion, and beyond?
Signing new customers costs five times as much as retaining old ones. So why are businesses failing at renewals? One of the most common problems I see in forecasting renewals is that businesses simply don’t know how to leverage their data in the right ways. They treat it the same as they treat sales and are stumped when their forecasts show up as less than accurate.