Renewal & Retention
Winning new clients and revenue streams is fantastic - but it is not more important than existing clients renewing and expanding their contracts. A major customer loss can have a devastating consequence on a company's P&L.
Viewpoint Analysis is uniquely placed to help IT vendors increase their renewals and retention performance, and at the same time, improve the customer's experience. One cannot happen without the other.
Through our Renewal Risk 360 Report and our Renewal Mediation Services, we focus on providing an early warning of potential renewal loss and urgent action planning for terminal situations, respectively.
Renewal Risk 360
The Renewal Risk 360 service has a dual objective - to equip SaaS vendors with the insights they need to secure renewals, mitigate churn risks, and enhance long-term customer experience, and, as a result, improve customer satisfaction and user experience. A win-win.
It is called 360 because we interview all the key stakeholders - the users, the product owners, the sponsor(s), and procurement - to get a deep understanding of their experience, expectations, and plans. We use our Customer Success Checkup as the focal point for the customer engagement.
We also interview the sales team - account manager, product specialist, renewals team - to get a feel for what they believe is happening and how things can improve.
Our report then ties this all together and assesses the renewal risk and what steps can be taken to improve customer experience and mitigate contract loss.
Renewal
Mediation
Service
The Renewal Mediation Service is the last resort for both parties. Where the Renewal Risk 360 is deployed ahead of time and gives a risk assessment, Renewal Mediation is precisely that - an intervention plan where Viewpoint Analysis can help the vendor and the customer to continue working together.
Like the Renewal Risk 360 service, we interview the whole team - both on the customer and vendor side. However, the real focus of the mediation service is to find the middle ground, and work at repairing the relationship.
It is ideal for the highest-risk renewals, where it really looks bleak and ominous, or where both teams have just hit an impasse.
It is important to understand that in most cases the customer doesn't want to move - there is usually an opportunity to mend broken bridges. We just need to find how to mend them.
Working Together
We want success for both the customer and the vendor - working together we can make it happen. Viewpoint Analysis sits in the middle and it is this that makes us very different and ideal for the renewal and retention area.
We have worked in enterprise sales and have negotiated hundreds of contracts and many renewals. How can we help your team improve your customer's experience and reduce the risk of a costly contract loss?
