Below is the answer and explanation for imagine you’re in an agency leadership team meeting discussing how to better manage client cancellations, renewals, and upgrades. The challenge is that you’re never sure what the client is planning to do until the last minute. This is causing the sales team to scramble to find another sale and work to fill gaps in service team capacity, and it is making it nearly impossible to accurately forecast future cash flow. Which would be the best suggestion to solve this challenge?
Imagine you’re in an agency leadership team meeting discussing how to better manage client cancellations, renewals, and upgrades. The challenge is that you’re never sure what the client is planning to do until the last minute. This is causing the sales team to scramble to find another sale and work to fill gaps in service team capacity, and it is making it nearly impossible to accurately forecast future cash flow. Which would be the best suggestion to solve this challenge?
- Implement a “likelihood of renewal”? scoring system. Score each client two months prior to their renewal date, and create different service playbooks for the team to follow. ✅
- Schedule an in-person workshop 90 days prior to the renewal date to get some additional face time and strengthen the relationship.
- Implement a grading system based on the progress you’ve made on their original goals. If the client scores a D or lower, assume they will be canceling, and have the sales team work to replace them.
- None of these suggestions would help with this specific challenge.
Correct answer
Implement a “likelihood of renewal”? scoring system. Score each client two months prior to their renewal date, and create different service playbooks for the team to follow. ✅
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