SUBSCRIPTIONS AND RENEWALS
Getting customers onto a regular subscription is a good way to build predictable revenue. They are hard to keep track of though. At many organizations renewal dates are held on a spreadsheet. A regular check of this prompts contact with the customer. But data held on spreadsheets is notoriously susceptible to error.
The benefits of having subscriptions can be outweighed by the cost of remembering when they’re due and managing the renewals process. Again CRM can help.
Understand who is due for renewal when.
Automate many parts of the renewal process for increased efficiency.
Track customer at risk and ensure remedial actions are taken before renewal.
Ensure timely follow-up and nurture of customers to drive greater renewal rates.
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