Building relationships is not about transactions, it’s about connections. - Michelle Tillis Lederman
The renewal experience is important when it comes to keeping our customers happy and making our business grow. So, it's crucial that your team stays in touch with the right people involved in the process to make sure those renewals go smoothly. One great way to do that is by setting up a system to check and confirm who the key stakeholders are. This way, we can reach out to them directly, have more personalized conversations, and increase our chances of successful renewals.
When we know who the key stakeholders are we are able to build connections.
Before diving into how to set up checks and balances, it's important to understand your organization's renewal process and identify who is typically involved. Answering the following discovery questions will help you:
- What does your renewal process entail? What stages and touch points are involved
- Who are the typical stakeholders involved? Who from your customer do you need to work with? Who internally is responsible?
If you aren’t able to answer these two questions, pause here and work to get the answers before you move on to the next part.
Implementing a Key Stakeholder Validation Workflow:
Once you understand your renewal process and stakeholders, you can implement the workflow to confirm correct stakeholders at your customers. Below I’ve outlined the steps to building this process:
1. Create a Survey:
Surveys allow you to prompt your customers for the information you need. Send the survey to the core contacts who you believe are involved in the renewal process. The survey questions should validate information about the stakeholders' roles, responsibilities, and any changes in the organizational structure.
2. Automated Follow up:
The number one way to improve customer satisfaction is to follow up with them after they respond to a survey. Using the information the customer provides in their answers, you can automate follow ups from the appropriate team members. For example, if a stakeholder change is identified, you can prompt additional personalized outreach to engage with the newly identified stakeholders. This ensures you are starting to build connections with your new stakeholders.
3. Centralize Stakeholder Information:
Now that you have updated information, it’s important for your team to be able to access it. Incorporate the survey responses on the Customer 360 (C360) or the system used within your organization. This provides easy access and reference for the renewal team, ensuring they have up-to-date stakeholder information.
Benefits to Having a Stakeholder Validation Workflow
Implementing the stakeholder validation workflow brings several benefits to the renewal process:
- Targeted and Personalized Outreach: improves successful renewals by addressing individual concerns and building solid relationships.
- Proactive Stakeholder Management: your renewal team can adapt their approach and engage with the right individuals, mitigating the risk of miscommunication or missed opportunities.
- Enhanced Collaboration and Alignment both parties can work together more effectively, ensuring that expectations are aligned, and any potential roadblocks are addressed promptly.
- Streamlined Renewal Process reduces manual effort, enabling renewal teams to focus on strategic initiatives and delivering exceptional customer experiences.
Making sure you’ve got the right people on board for renewals is absolutely key to keeping customer relationships strong and successful. This means better renewal outcomes and a brighter future for your business in the long run. Dive in and explore how these tools can work their magic for you!
Here are the Gainsight Features you can use to accomplish this:
