renewtrak

83% of B2B customers now prefer a “rep-free” buying experience, but many B2B SaaS companies are still lagging by not offering the self-service options customers crave. The solution? E-commerce. 🌐 B2B buyers are ready: 🔹 77% are willing to spend over $50,000 on a single ecommerce transaction**. 🔹 42% say e-commerce is their most effective sales channel, beating out in-person, video, and phone interactions.** At renewtrak, we've implemented this for SaaS renewals as well. With the current economic challenges and the challenge of hiring more staff for renewal follow-ups and customer retention, especially for long-tail customers, we've introduced a B2C e-commerce checkout experience for renewals. This provides the seamless, automated experiences that modern buyers expect. Source:**Mckinsey.com**

Auto-Renewals Does NOT equal Renewal Automation. Here are some things to consider when implementing auto-renewals. #renewals #ai #autorenewal #saas #digitaltransformation #xaas #cro #customersuccess

Regardless of who owns the renewal in your organization - your sales reps can be a valuable asset in the renewals process ⬇ If CSMs, Account Managers, or Renewal Specialists own the renewal: ✅ Partner them with sales reps. ✅ Treat the renewal as a team effort. ✅ Avoid the blame game if issues arise. Here are 3 ways to involve your sales reps early in the renewal process: #renewal #automation #AI #digitaltransformation #saas #xaas

📈Now more than ever, organizations need to grow. At the same time they are struggling with: - Keeping up with modern business models as data volumes increase. - Increased cost to serve existing customers. - Loss of market share as channel and end customers look for vendors providing digital solutions. - Lost revenue from long tail customers & channel partners since it's difficult to justify the cost to support them. The solution? 🤔 Scale Through Automation and utilize a renewal automation tool like renewtrak that enables channel partners to scale. 🌐 Provide a Consistent Experiences Across the Board: Automation ensures every customer and partner interaction is seamless, fostering trust and loyalty. 🔍 Forecast Partner Impact: Get clear insights into partner performance, enabling accurate forecasting and informed decision-making. ⚡ Accelerate Growth with Enhanced Experiences: Deliver user-friendly renewal experiences that drive success for both vendors and partners. #saas #renewals #xaas #digitaltransformation #customersuccess #channel

What’s your churn rate for long-tail customers? 📉 We've seen SaaS companies where overall SMB renewals hit a staggering 90% churn. And while letting a few smaller accounts churn may not seem like a big deal, over time, these small accounts add up, and it leads to massive revenue loss. 💸 The solution? Automation. 🤖 Implementing a tool like Renewtrak ensures every account gets proactive renewal reminders, offers relevant upsell/cross-sell options, and best-of-all a frictionless, one-click renewal experience. It’s efficient, saves time, and boosts your bottom line. 📈 #renewals #saas #longtailcustomers #xaas #digitaltransformation

⌛ Are You Running Behind? As you plan for your company's future, it's crucial to start preparing for scale now to avoid the mistakes larger businesses fall into. Renewals are a big pain point for larger companies. No matter how quickly you grow, losing customers at the same rate can hurt profitability so having a solid renewal strategy is key. 💡 What you can today to prepare for scale: - Embrace Automation Early: When you're small, resources might be limited. Automation helps manage customer interactions efficiently. - Select a renewal automation tool that's proven effective with large companies. These tools have learned from industry leaders' mistakes, so you can tap into their expertise. Want to Learn how to get started with automation? Check out our latest blog: https://lnkd.in/g9h5KZnn #saas #renewals #renewalautomation #digitaltransformation #AI #customersuccess #salesops

Ready to dive into automation but feeling a bit unsure? 😬 💡 Discover how to tackle the common fears and obstacles you might face. #renewalautomation #saas #xaas #digitaltransformation

🔍 On the hunt for the perfect renewal automation tool? Choosing the right one can be make or break. It's crucial to ask the right questions to ensure you make the best choice. Here are some of the key questions to consider before making your decision: For more information about renewals led growth follow renewtrak #saas #renewals #digitaltransformation #automation #renewalsledgrowth #RLG

Why does upgrading B2B subscriptions feel like solving a Rubik's Cube while B2C upgrades feel so easy? It's time to make renewals easier by utilizing a digital buying experience. At renewtrak your customers can upgrade, browse, and check pricing in real-time, just like shopping online. #renewals #saas #b2b #b2c #customersuccesss #sales #tech

❓ Who Should Own Renewals❓ Before you answer this question, there are some factors you need to take into consideration: 🔍 ➡ Company Size: Tailor renewals responsibilities based on your company size. Small companies may leverage sales teams, while larger ones may delegate to customer success or a dedicated renewals team. ➡ Contract Size and Complexity: Let sales handle larger, complex contracts, while customer success teams or specialists may manage simpler ones with auto-renew systems. ➡ Product/Service Complexity: Align renewal management with product complexity; sales for complex offerings, customer success for straightforward ones. ➡ Market Competitiveness: In competitive markets, sales teams excel in negotiations, while CSMs collaborate closely, identifying new opportunities. ➡ Sales Team Bandwidth: Overwhelmed sales teams indicate a need to pass off renewals/expansions to customer success or create a dedicated team. ➡ Customer Success Team Experience: Experienced CSMs are better suited for renewal/expansion responsibilities, particularly when adept at proving value and facilitating adoption. ❓Who owns #renewals at your company? #saas #renewals #xaas #subscription #digitaltransformation #sales #customersuccess #salesops