In SugarCRM’s 2021 CRM and Sales Impact Report, over half (57%) of sales leaders said they were having trouble predicting when customers would churn.
Would you like to know how to reduce your customer churn rate and maximize customer revenue?
© 2021 SugarCRM Inc. All rights reserved.TOP 3 WAYS TOSTOP REVENUELOSS ANDCUSTOMERCHURN
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© 2021 SugarCRM Inc. All rights reserved.SARAH FRIEDLANDER GARCIASugarCRMsarah.friedlander@sugarcrm.comDENNIS SMITHSugarCRMdennis.smith@sugarcrm.comCHRISTIAN WETTRESugarCRMchristian.wettre@sugarcrm.comPRESENTERS
© 2021 SugarCRM Inc. All rights reserved.➔ Research Report Overview➔ How much annual revenue is lost to churn➔ Understanding why customers churn➔ Predicting and preventing churn➔ 3 ways to help manage churn➔ Q&AAGENDA
© 2021 SugarCRM Inc. All rights reserved.52% of sales leaders said that theirCRM system is causing them missedrevenue opportunities.50% said they cannotaccess customerdata across marketing,sales and servicesystems.Over 30%reported havingincomplete,out of date,or inaccuratedata.CRM IS BIG BUSINESSThe $35 billion CRMmarket provides thefoundational technology forcustomer engagement.THE STATE OF CRM
© 2021 SugarCRM Inc. All rights reserved.Churn is costing mid-market companies$5.5 million a year each.57% say they havetrouble predictingwhen customers willchurn.48% say theydon’t know whycustomers havechurned.Without access to the rightdata, companies can’tkeep customers happyor calibrate the customerexperience to minimizechurn.56% of respondents said theircustomer churn has increased inthe last 12 months, and it’scosting them missed revenueopportunities.CHURN RATES
© 2021 SugarCRM Inc. All rights reserved.1AccountManagement2Recurring RevenueManagement3Existing CustomerPipelineManagement3 WAYS TO MANAGE CUSTOMER CHURN
AccountManagement3 WAYS TO MANAGECUSTOMER CHURN
© 2021 SugarCRM Inc. All rights reserved.One major factor that couldlead to churn is having yourcustomer siloed in multiplesources, leading to missingvital information about youraccounts’ health.ACCOUNT MANAGEMENT
© 2021 SugarCRM Inc. All rights reserved.By deploying Sugar Serve,our customer servicesolution, you avoid gettingblindsided by unresolvedcustomer issues.CUSTOMER SERVICE ENGAGEMENT
© 2021 SugarCRM Inc. All rights reserved.Allocate points forengagement like openingan email, clicking a link,visiting a specific page ordownloading content.Sugar Market willautomatically track theseactivities over time andpush them to Sugar Sell.CONTACT SCORING
© 2021 SugarCRM Inc. All rights reserved.ACCOUNT ENGAGEMENTSugar Sell users are ableto dive into ContactScoring details byaccessing Sugar Market’sScoring Summary sectiondirectly in Sugar Sell.
© 2021 SugarCRM Inc. All rights reserved.Sugar Market scores yourcontacts at an accountlevel for an at-a-glance viewof their engagement.ACCOUNT SCORING
© 2021 SugarCRM Inc. All rights reserved.The Monthly VolumeDashlet enables youraccount managers to viewand compare the number ofmonthly email and phoneinteractions at a glance.RELATIONSHIP ANALYTICS
© 2021 SugarCRM Inc. All rights reserved.The Relationship Links Dashlet indicates who has thestrongest relationship with individual contacts.RELATIONSHIP ANALYTICS
© 2021 SugarCRM Inc. All rights reserved.RELATIONSHIP ANALYTICSThe Missing ContactsDashlet reveals contactsand relationships notcurrently present in yourCRM database, andenables you to add missingcontacts to your accounts.
© 2021 SugarCRM Inc. All rights reserved.SugarBPM™enables you to automate complex business processes using a CRM workflowautomation engine based on Business Process Modeling Notation standards.SugarBPM® Automation
© 2021 SugarCRM Inc. All rights reserved.Hint automatically gathersdata from a broad range ofsocial, news, and businesssources to provide valuablecustomer intelligencedirectly within Sugar Sell.Relationship Intelligence
Recurring RevenueManagement3 WAYS TO MANAGECUSTOMER CHURN
© 2021 SugarCRM Inc. All rights reserved.MANAGE PRODUCTS ON ACCOUNTSugar Sell’s purchasesmodule enable you to tracksold contracts with multiplerevenue line items percontract.Track the term of thecontract, the unit price,extended price, discountsand configurable specialdata points for yourorganization.
© 2021 SugarCRM Inc. All rights reserved.NURTURE CUSTOMERSAs we add products to ouraccounts we want toengage those accounts inproduct communicationsusing Sugar Market’snurture builder throughoutthe contract period
© 2021 SugarCRM Inc. All rights reserved.ADDING PRODUCTS TO ACCOUNTSugar Sell’s purchasesmodule enables you toquickly add contract unitssuch as additionalsubscription users.Sugar will automaticallyalign add-on products tocontract expiration date.Sugar will update the nextrenewal opportunity withupdated product unit countand revenue.
© 2021 SugarCRM Inc. All rights reserved.MANAGE ACCOUNT PURCHASE HISTORYSugar Sell’s purchasesmodule enable you toquickly add contract unitssuch as additionalsubscription users.
Existing CustomerPipeline Management3 WAYS TO MANAGECUSTOMER CHURN
© 2021 SugarCRM Inc. All rights reserved.Not having a central view ofyour customers recurringservices may lead to lostopportunities and revenue.RENEWAL PIPELINE MANAGEMENT
© 2021 SugarCRM Inc. All rights reserved.AUTOMATICALLY CREATE RENEWAL OPPORTUNITIES
© 2021 SugarCRM Inc. All rights reserved.QUICKLY ADD MONTHLY SUBSCRIPTIONS
© 2021 SugarCRM Inc. All rights reserved.ARTIFICIAL INTELLIGENCE PREDICTIONS
© 2021 SugarCRM Inc. All rights reserved.LEARN MOREDownload the complete reportfor all the facts and figures, plus acountry comparison chart for theU.S., U.K., Germany and Australia.sugarcrm.com/hd-cx/content/crm-sales-impact/DOWNLOAD REPORT
© 2021 SugarCRM Inc. All rights reserved.Sugar Platform OverviewSell SmarterCreate more meaningful experiencesand build lasting relationships.SugarCRM empowers your marketing, sales and services teams to collaborateacross the entire customer lifecycle for more meaningful, memorable experiences.Market With InsightCapture the attention of your mostpromising prospects.Serve ExceptionallyGive customers the support they needquickly and confidently.REQUEST A DEMOwww.sugarcrm.com/demo
© 2021 SugarCRM Inc. All rights reserved.Q&A
© 2021 SugarCRM Inc. All rights reserved.Thank you!
© 2021 SugarCRM Inc. All rights reserved.CountryComparison ChartAUSTRALIA GERMANY UK USCannot access aggregated data across marketing,sales and service systems50% 42% 48% 61%Agree that a consolidated view of customer information across thewhole organization is critical in delivering optimal CX82% 70% 72% 73%Do not know which customers are likely to churn 53% 52% 55% 51%Churn has increased over the last 12 months 52% 46% 56% 68%CRM system is not fit for purpose 52% 40% 48% 53%CRM system is costing them revenue 49% 42% 58% 59%Frustrated with the support they are getting from their CRM systemprovider45% 40% 51% 53%Frustrated with the admin burden placed on their sales team 50% 50% 58% 55%Organization is currently using some AI to augment existingprocesses95% 76% 78% 89%Expect the use of AI to increase over the next 24 months 98% 80% 83% 93%