With new customer acquisition becoming harder, and customer acquisition costs soaring, growing your existing customer base becomes that much more critical to achieving your revenue and profitability goals.
There’s no doubt that protecting customer renewals and relying on upsells is crucial to hitting booking numbers and growing profitably. However, improving your Net Retention Rate (NRR) is not as simple as creating a ‘CX’ function. In fact, it all starts at the pre-sale and continues through onboarding. Marc DiGiorgio discusses ways to improve your NRR, and shares some practical tactics to help you get started in this on-demand webinar.
Webinar Highlights:
It Starts in Sales
Set clear expectations during sales, standardize assumptions for each transaction, and ensure a smooth handoff to service teams. Engage customers frequently, and establish a Net Promoter Score benchmark.
Standardize Customer Onboarding
Every customer should have a great onboarding experience. It sets the stage for future success.
Track Everything
Keeping a close eye on all customer interactions and feedback helps tailor your offerings to meet their needs and exceed expectations. This includes: Email communication, Project status, Invoice history, Case history, and Renewal information.
Automate Your Plays
Automating renewal playbooks, at risk playbooks, setting up monthly webinars and quarterly check-ins ensures consistent, high-quality customer experiences across all touchpoints.
Give Your Top Customers to Your Best Sellers
Ensure that your most valuable customers receive the attention and expertise they deserve.
Measure Everything
Some of the metrics you should be regularly tracking include:
- Gross Retention Rate
- Net Retention Rate
- Subscription Momentum
- Existing Customer Win Rate
- Existing Customer Funnel Growth
- Existing Customer Sales Velocity
Watch the on demand webinar
For a deep dive into these strategies and more to take your customer growth to the next level, watch the full on-demand webinar below.
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