Introduction
To proactively manage customer risks, you need to identify and address potential issues before they escalate. By setting up automated risk alerts based on key metrics like product usage, engagement, and customer feedback, you can ensure that your team stays ahead of risks and engages at the right time. This article will guide you through setting up automated risk alerts in Gainsight, so you can streamline risk detection and prevent customer churn.
Step 1: Define Key Risk Indicators
Start by identifying the key risk indicators that can signal a potential issue with a customer’s account:
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Product Usage Drops: Monitor product usage using Product Analytics. A sharp decrease in usage often indicates disengagement or dissatisfaction.
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Low Engagement: Use Timeline and Sponsor Tracking to monitor how frequently your team is interacting with key decision-makers.
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Negative Sentiment: Track customer sentiment via NPS Surveys and support ticket feedback to identify potential dissatisfaction early.
These key indicators provide early warning signals, allowing you to catch risks before they escalate.
Step 2: Automate Risk Alerts Using Rules Engine
Once you’ve identified your key risk indicators, set up automated risk alerts using the Gainsight Rules Engine:
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Create Automated CTAs: Use the Rules Engine to trigger Calls to Action (CTAs) when key risk thresholds are met, such as a drop in product usage or a negative NPS score.
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Prioritize Alerts by Severity: Assign severity levels to risk alerts based on the potential impact of the risk. For example, a high-severity alert could be triggered for a customer that stops using core product features for over a month.
Automating CTAs based on these risk indicators ensures that your team is alerted in real time, allowing for faster intervention.
Step 3: Use Playbooks for Consistent Risk Management
Ensure that your team knows how to respond to each risk by creating Risk Playbooks that outline the steps for addressing specific risk factors:
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Set Up Risk Playbooks: Automatically trigger Playbooks when CTAs are triggered. Playbooks can guide CSMs through actions like scheduling a check-in call, escalating the issue to leadership, or providing additional training.
By standardizing the response to each risk, you ensure that all customers receive timely and consistent support.
Step 4: Monitor and Adjust Risk Alerts Regularly
Risk indicators can evolve over time, so it’s essential to monitor and adjust your risk alerts regularly:
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Review Risk Trends via Dashboards: Use Gainsight Dashboards to track trends in risk alerts and identify which customers are most at risk.
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Refine Risk Indicators: Periodically review the effectiveness of your risk alerts. If certain risk factors (e.g., engagement) are proving more predictive of churn, adjust the thresholds or weights in the Scorecards to reflect that.
By continuously refining your risk alerts, you ensure they remain accurate and actionable
Next Steps for Success
With automated risk alerts in place:
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Monitor risk signals regularly: Use dashboards to monitor risk trends and ensure you’re responding to alerts in a timely manner.
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Automate Playbooks: Use Playbooks to ensure your team has a standardized process for addressing risks as they arise.
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