Renewals

Data

Why Care About Usage Data?

In recurring revenue business models, the most critical customer relationship question shifts from, “Was the product shipped?” to, “How is the service providing value?” This shift creates a critical gap in your customer intelligence. The ability to monitor how your customer is actually using your services becomes essential to proving your service’s value.
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Data

3 Steps to a Data-driven Revenue Lifecycle

How do you create data-driven customer retention processes that deliver both higher renewal rates and a lower cost to serve? This is the million-dollar question that many companies are looking to answer, and one that we addressed in a recent webinar and the 3 Steps to a Data-driven Revenue Lifecycle whitepaper.
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Life Sciences Revenue Growth Strategy

A Healthy Strategy for Life Sciences Growth

Many life science and healthcare companies are ailing when it comes to revenue growth. Even with moderate growth in the sector, opportunities for new revenue are difficult to identify because of changing regulation, payor/payee pressures, disruptive technologies and increased third-party competition. As sales margins get squeezed and as the bottom line gets hit, it’s becoming apparent that future success for these companies may depend on managing recurring revenue after the initial sale.
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Losing Money with Flat Annual Price Increases

Renewals Process – Don’t Leave Money on the Table with One-Size-Fits-All Annual Price Increases

In doing some research on optimizing customer renewals processes, I came across some research we conducted on the correlation of annual price increases to customer churn. The research delved into how, in recurring revenue business models, the cost of delivery matters in setting prices, but the factor that’s become dominant is value and business outcomes delivered.
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Staying the Course: 5 Reasons for Renewing

Staying the Course: 5 Reasons for Renewing

My insurance broker contacted me the other day. It’s nearing renewal time, and she wants to meet to review my coverage. I’m perfectly happy with my coverage and simply want to renew without taking the time to meet in person. She wants an opportunity to sell me more. It is The post Staying the Course: 5 Reasons for Renewing appeared first on SourceTalk.
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Winning Strategies for Cross-Selling and Upselling at Renewal

Winning Strategies for Cross-Selling and Upselling at Renewal

Cross-selling and upselling seems like it should be an easy source of revenue since you’ve already tackled the feat of an initial sale. Yet to uncover into these opportunities you need to truly understand your customer, their needs and environment. The time of renewal presents you with a prime opportunity The post Winning Strategies for Cross-Selling and Upselling at Renewal appeared first on SourceTalk.
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Realities of Renewals: Finding the Necessary Resources

Realities of Renewals: Finding the Necessary Resources

Increasing your recurring revenues sounds like a great business objective – but as with any other major business initiative, it requires an investment of time and resources. Reallocating the necessary resource is the first major hurdle in any renewals transformation. My last blog was about the first of five keys The post Realities of Renewals: Finding the Necessary Resources appeared first on SourceTalk.
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Realities of Renewals: First Understand the Culture

Realities of Renewals: First Understand the Culture

When starting out to help a business transform its renewals culture, we carefully gather all existing data about revenues, opportunities, resources, etc. The most difficult thing to measure may be the most important in terms of the success – the business culture. Misaligned culture can show up in many ways, The post Realities of Renewals: First Understand the Culture appeared first on SourceTalk.
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Show Me the Money

Show Me the Money: 2 Ways the Internet of Things Will Unlock Your Customer’s Revenue Potential

Over the past few years, there’s been a lot of hype about the Internet of Things (IoT) and its massive potential to change how we live, work and conduct business. From wearable devices to smart appliances that share information via sensors, it seems every company is embarking on a bold The post Show Me the Money: 2 Ways the Internet of Things Will Unlock Your Customer’s Revenue Potential appeared first on SourceTalk.
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