Driving Renewals & Expansion (3DRenew™)
For many businesses, contract renewal and expansion is a critical driver of growth and value.
The fastest growing SaaS companies generate $3.9 in new and expansion revenue for every $1 lost to revenue churn (InsightSquared). Any business with multi-year contracts is critically dependent on account upsell/expansion and low churn to drive growth.
Only 54% of SaaS companies treat upselling and add-on sales as a high priority (Totango), and many B2B account managers are ‘Friendly Helpers’ who do not proactively pursue share of wallet, so account expansion is a significant opportunity for most organisations.
But at scale, the percentage of longer-tenured customers is so high that churn often becomes the dominant issue. This is why 3DRenew focuses on the critical renewal phase of the relationship, as well as account expansion.
Imparta’s 3DRenew programme focuses on:
3DRenew focuses on techniques for driving customer success and adoption, including onboarding, listening and monitoring, data-based insights and root-cause analysis.
3DRenew uses a unique approach to monitoring the health of an account, building advocacy through data, stories, account-based marketing and stakeholder management.
Renewals and Expansion
3DRenew deepens trust through intimacy with the customer’s objectives, creates insights into their evolving needs, and influences renewals, price increases, and account expansion.
As companies scale their growth engines, a slightly-above-average churn rate becomes harder and harder to offset with net new revenue growth, especially when the goal is to outpace it by 4x.Insight Squared