Introduction
Managing renewals across multiple customers and teams can quickly become overwhelming without a clear, centralized process. By centralizing your renewal operations, you ensure that all renewal-related data is in one place, allowing your team to stay proactive, manage renewals efficiently, and reduce the risk of churn. This article will walk you through how to centralize renewal operations using Gainsight’s tools, providing full visibility and driving renewal success.
Step 1: Centralize Renewal Data Using Renewal Center
Start by consolidating all renewal-related data into Gainsight’s Renewal Center for better transparency and coordination across teams:
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Set Up Renewal Center: Use Renewal Center to centralize your renewal data, giving CSMs, Sales, and leadership access to a unified view of all upcoming renewals.
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Integrate CRM Data: Ensure that your CRM data is integrated with the Renewal Center so that ARR, renewal dates, and contract terms are easily accessible. This integration allows for seamless tracking of renewal status.
Centralizing renewal data gives your team complete visibility, ensuring that renewals are managed efficiently across the organization.
Step 2: Automate Renewal Reminders and Notifications
Once renewal data is centralized, set up automated reminders and notifications to keep renewals on track:
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Automate Renewal CTAs: Use Rules Engine to trigger CTAs and reminders based on key renewal milestones (e.g., 90, 60, and 30 days before renewal). Ensure that your team is proactively reminded to engage with customers.
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Send Renewal Alerts to Stakeholders: Automate notifications to key stakeholders (e.g., CSMs, Sales, and Executives) to ensure everyone is aligned on high-priority renewals. Use Gainsight Dashboards to track these notifications.
Automating renewal reminders ensures that renewals aren’t missed and that your team stays on top of customer touchpoints.
Step 3: Track and Document Renewal Interactions
Ensure all renewal-related interactions are tracked and documented for future reference and visibility:
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Log Renewal Interactions in Timeline: Use Timeline to log every renewal-related interaction (e.g., emails, calls, meetings). This helps create a comprehensive record of all communications related to the renewal.
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Track Renewal Progress: Use Dashboards to track the progress of renewals, including which interactions have taken place, which are pending, and which renewals are at risk.
By documenting renewal interactions, you ensure transparency and accountability across the team, improving coordination and follow-through.
Step 4: Monitor Renewal Health Scores
Finally, ensure that you are monitoring the health scores of customers who are approaching renewal:
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Track Health Scores in Renewal Center: Use Health Scores in the Renewal Center to identify customers at risk of churn. Low health scores can signal that the customer may need additional support before renewing.
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Take Action with Playbooks: When a customer’s health score drops, use Playbooks to guide your CSMs through the steps needed to re-engage the customer and secure the renewal.
Tracking health scores ensures that your team can take proactive action on at-risk renewals, improving the likelihood of success.
Next Steps for Success
With centralized renewal operations in place:
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Monitor renewal data regularly: Use dashboards to track renewals, health scores, and stakeholder interactions, ensuring that renewals stay on track.
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Automate renewal reminders: Set up automated reminders and notifications to ensure proactive engagement with customers at every renewal milestone.
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