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Meet Your Renewals MVPs
Today’s Host: Nichole Lemieux
Partner Experience ArchitectGlobal Customer Success Cisco Systems, Inc.
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Customer Success Methodology#successtalk
People
Automation
Process Analytics
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On demand webinars, videos, infographics, blogs, whitepapers and much more!
Visit SuccessHub
Visit Success Hub
Meet Your Renewals MVPs
Guest Presenter:Justin Crotty
Director Business DevelopmentCisco Systems, Inc.
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“The economic value of a customer is realized over time, instead of upfront at the initial sale. Being successful increasingly requires that companies actively manage their customers during their engagement
relationship.”Forrester
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Supporting the customer lifecycle.
Adopt
Welcome
2nd Chance AttachExpand
Renew
Refresh
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Audience Poll
7
Do you currently have a dedicated renewals team within your organization?
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The path to success with renewals.
Develop Your Team Create a Plan Leverage Resources to Drive Customer Value
Realization
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Roles in the customer lifecycle.
Client Services Manager
Onboarding Specialist Training Specialist
Get Your Winning Team infographic
Renewal Specialist
Customer Success Manager
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Your solutions expert.
Training Specialist
Function: Solutions Expert
Priorities:• Contract renewal• Product offers• Additional services
Renewal Specialist
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What makes a renewals specialist?
Empathetic, Attentive Listeners
Excellent Communicators
Critical Thinkers
Product Experts
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Tips for Building an Effective Team
Sometimes assembling a new team can be challenging. You can use these tips to guide your recruitment process and assist you in selecting candidates that will embrace your customer success goals.
Virtual Handout
Watch Anatomy of a Customer Success Team
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Audience Poll
13
Based on contract value, where do see the biggest opportunity for improving your customer retention rates?
$50K +
$25 - $50K
$10K - $25K
Under $10K
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Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy
“A 2% increase in customer retention has the same effect as decreasing costs by 10%.”
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You renewals strategy will...
Increase Profitability Enhance Productivity Improve Customer
Satisfaction and Loyalty Through Value
Realization
$
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Renewing services in a timely manner helps your customers ensure continuous service coverage, and protects valuable and often mission-critical network resources.
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You need a plan to be successful.
Discovery Highlights Opportunities Proposal Communication
?
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Discovery leads the way in customer
retention.
Create a holistic view of your customer and their desired outcomes.
Review account history
Review organizational structure
Review current product offers
Review changes in the industry
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Highlight the value your solutions delivered for
your customer.
Demonstrate where and when your solutions have helped your customer achieve their business goals.
Increased Revenue
Optimized Expenses
Improved Cash Flow
Maximized Asset Use
Managed Risk
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Opportunities represent potential
revenue.
Identify areas where your solutions can improve your customer’s business.
Hardware and software that have reached lifecycle milestones
Security advisories
Uncovered equipment
Contract expiration
Data reconciliation challenges
?
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Customized proposals increase your chance
of success.
Create the most relevant, profitable, results-oriented proposal for each customer.
Focus on business outcomes
Address opportunities identified
Cover industry requirements
Emphasize your commitment to their business
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Communication is key to facilitate the
renewal process.
Review the renewal proposal with your customer and have candid conversations about their business needs.
Initiate contact
Celebrate historical achievements
Highlight product improvements
Review renewal proposal
Address areas of concern
Follow a customized communication plan
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We are absolutely committed to you (our partners), and that will not change. Everything we do, we do with you in mind.
-Chuck Robbins
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Partner Success Managers are here to help.
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CISCO IMPACTCHARTER
Simplify, digitize and automate the renewals
experience for our customers and partners.
Data-Driven Partner Consumable
Automation
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Data Intelligence
•Data aggregation, normalization, enrichment & management
•Complete picture of installed base of services
•Key Benefits: accurate and actionable customer data, uncover new revenue streams
AutoQuote Campaign Engine
•Automation of pre-validated renewal and attach quote creation/delivery
•Cisco delivers opportunity data; partner provides contact data
•Email campaign is partner branded with a “call to action” to buy now
•Key Benefits: reduced cost of sale, increased renewals, address low dollar renewal opportunities
Cisco Impact Portal•A single view of Cisco service opportunities
•Service contract management, visibility to renewal or attach sales opportunities
•Auto notifications and AutoQuote setup and mgt
•Key Benefits: sales opportunity visibility, self help product/lifecycle management
Cisco Impact supports your business goals.
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Getting started with your renewal strategy.
Assemble your dedicated renewals team.
Validate your customer’s business needs.
Focus on the value your solutions provide the customer.
Identify opportunities to upsell/cross-sell.
Remember to use a solution-led selling approach.
Be prepared in advance to overcome objections.
Use your Cisco tools and resources.
@CiscoImpact
Let us know what you think!
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Churn is your enemy. The fact is you could be missing out on up to 36% of your renewals revenue. While renewing a contract may sound simple, the reality is that low-dollar, high-volume opportunities are often missed because they’re too difficult and time consuming to manage. Discover new ways to automate your contract renewals to capture those low-dollar opportunities.
Renewals for Low-dollar, High-volume CustomersAugust 30, 2016
Upcoming Sessions#successtalk
Sign up for a webinar
What should a renewals process look like and how do you flawlessly execute and consistently deliver continued value to your customers. Learn more about the practical application of the renewals process.
Countdown: T-Minus 24 Weeks to RenewalSeptember 13, 2016
Thank you.
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