Introduction
Consistency in managing renewals is crucial for ensuring timely engagement and maximizing renewal success. By using Renewal Playbooks, you standardize the steps that CSMs and Sales teams take to manage different renewal scenarios, such as auto-renewals or high-risk renewals. This article will guide you through setting up and deploying renewal playbooks in Gainsight to ensure a streamlined, repeatable process for managing renewals.
Step 1: Develop Playbooks for Different Renewal Scenarios
Start by creating playbooks that address the different types of renewals your team handles:
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Auto-Renewals: For customers on auto-renewal, create a playbook that ensures proactive engagement at key milestones, such as checking in 90 days before renewal to confirm contract details.
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Manual Renewals: For manual renewals, build a playbook that includes steps like reviewing the contract, confirming the renewal decision with the customer, and sending renewal reminders. Use Playbooks to standardize these steps.
By defining clear steps for each renewal type, you ensure that your team follows a consistent process for every customer.
Step 2: Automate Playbook Deployment Using CTAs
Once your playbooks are set up, automate their deployment to ensure that they are triggered at the right time:
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Trigger Playbooks Automatically: Use the Rules Engine to trigger CTAs and deploy playbooks based on key renewal milestones. For example, trigger the Manual Renewal Playbook 90 days before the renewal date.
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Set Up Renewal Alerts: Automatically generate reminders for both CSMs and Sales teams to ensure that all renewal-related tasks are completed on time, such as sending contract amendments or reviewing usage data.
Automating the deployment of playbooks ensures that renewal tasks are completed consistently and on time, reducing the chance of missed renewals.
Step 3: Monitor Playbook Performance and Refine Strategies
Monitor how well your renewal playbooks are performing and refine them based on real-world outcomes:
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Track Playbook Effectiveness: Use Dashboards to track the completion of renewal playbooks and the outcomes of renewals. Identify which playbooks are leading to successful renewals and which may need refinement.
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Gather Feedback from CSMs: Collect feedback from your team on how well the playbooks are working. Use this input to refine the playbook steps, add new actions, or adjust engagement timelines.
Refining your playbooks ensures that they remain effective and aligned with real-world renewal challenges.
Step 4: Adjust Playbooks for High-Risk Renewals
For high-risk renewals, customize your playbooks to provide more tailored and intensive engagement:
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Tailor Playbooks for At-Risk Accounts: For customers flagged as at-risk, customize your playbook to include steps like escalating the account to leadership or offering additional support and resources. Use Scorecards to identify high-risk renewals.
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Engage Executives for High-Value Renewals: For high-value renewals, engage your executive team to re-engage key stakeholders and ensure the customer feels valued.
Customizing playbooks for high-risk renewals ensures that your team is equipped to handle complex renewal scenarios with precision and care.
Next Steps for Success
With renewal playbooks in place:
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Automate playbook deployment: Ensure that playbooks are automatically triggered at key renewal milestones, guiding your team through consistent steps.
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Monitor and refine playbooks: Use dashboards and CSM feedback to continuously improve your renewal playbooks based on performance data.
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