Many of the companies we talk to today all have the same challenge, they are sick and tired of fire fighting their customer accounts. Fire fighting happens when you don’t have visibility into what is going on in your customer portfolio so you are constantly putting out fires, especially around renewal time.
To move away out of this pattern, we suggest organizations put in place an Early Warning System which enables their customer success team focus on proactive customer retention. With this system, alerts are generated about any customer who requires attention – be it a customer with deteriorating health or an upsell opportunity that is set to renew soon. We find this solution works best for teams operating in a high- to medium- touch engagement model.
If you want to learn how to build an Early Warning System you can view our solution guide here.
By successfully implementing an Early Warning System you are able to:
Become more proactive and data-driven: By creating a system that alerts you to customers who need your attention automatically, your team becomes more effective in preventing churn and creating upsell opportunities. By using data straight from your product, it allows you to be more proactive when it comes to managing your customer base as opposed to relying on anecdotal feedback from your customer-facing team.
Focus on your entire customer base: When it comes to subscription businesses, if you only focus on the high-value accounts you stand to lose a lot of your base and revenue. By creating a health score for your customers, it gives your team an objective, consistent metric to track customer success across the entire base, not just the high dollar accounts. Now you can spend your time focusing on the accounts that need your attention, not just those that are top of mind.
Better manage your customer portfolio: With an Early Warning System Customer Success Managers no longer just rely on periodic health-check-ins with customer accounts. By utilizing a set of active lists to monitor their customer base and flag those that require attention they can more easily manage their entire portfolio. This allows for more proactive actions and improves the conversation when it comes time for time-based check-ins at renewal time.
Increase executive visibility: When implementing a new solution or strategy one of the most important components is being able to report back to your executive team. With this solution, the Customer Success team can provide regular executive reports to share the status of customer health across the entire organization. These reports enable you track progress as well as identify problem areas and opportunities where you can optimize the process.
If your organization is looking to become more proactive and data driven, read this solution brief to find out how you go about implementing an Early Warning System.