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Top 3 Ways to Stop Revenue Loss and Customer Churn

58ed7368f1de80df0b380087b19a4ac1?s=47 SugarCRM
March 23, 2021

Top 3 Ways to Stop Revenue Loss and Customer Churn

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?

58ed7368f1de80df0b380087b19a4ac1?s=128

SugarCRM

March 23, 2021
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  1. © 2021 SugarCRM Inc. All rights reserved. TOP 3 WAYS

    TO STOP REVENUE LOSS AND CUSTOMER CHURN
  2. © 2021 SugarCRM Inc. All rights reserved. SARAH FRIEDLANDER GARCIA

    SugarCRM sarah.friedlander @sugarcrm.com DENNIS SMITH SugarCRM dennis.smith @sugarcrm.com CHRISTIAN WETTRE SugarCRM christian.wettre @sugarcrm.com PRESENTERS
  3. © 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&A AGENDA
  4. © 2021 SugarCRM Inc. All rights reserved. 52% of sales

    leaders said that their CRM system is causing them missed revenue opportunities. 50% said they cannot access customer data across marketing, sales and service systems. Over 30% reported having incomplete, out of date, or inaccurate data. CRM IS BIG BUSINESS The $35 billion CRM market provides the foundational technology for customer engagement. THE STATE OF CRM
  5. © 2021 SugarCRM Inc. All rights reserved. Churn is costing

    mid-market companies $5.5 million a year each. 57% say they have trouble predicting when customers will churn. 48% say they don’t know why customers have churned. Without access to the right data, companies can’t keep customers happy or calibrate the customer experience to minimize churn. 56% of respondents said their customer churn has increased in the last 12 months, and it’s costing them missed revenue opportunities. CHURN RATES
  6. © 2021 SugarCRM Inc. All rights reserved. 1 Account Management

    2 Recurring Revenue Management 3 Existing Customer Pipeline Management 3 WAYS TO MANAGE CUSTOMER CHURN
  7. Account Management 3 WAYS TO MANAGE CUSTOMER CHURN

  8. © 2021 SugarCRM Inc. All rights reserved. One major factor

    that could lead to churn is having your customer siloed in multiple sources, leading to missing vital information about your accounts’ health. ACCOUNT MANAGEMENT
  9. © 2021 SugarCRM Inc. All rights reserved. By deploying Sugar

    Serve, our customer service solution, you avoid getting blindsided by unresolved customer issues. CUSTOMER SERVICE ENGAGEMENT
  10. © 2021 SugarCRM Inc. All rights reserved. Allocate points for

    engagement like opening an email, clicking a link, visiting a specific page or downloading content. Sugar Market will automatically track these activities over time and push them to Sugar Sell. CONTACT SCORING
  11. © 2021 SugarCRM Inc. All rights reserved. ACCOUNT ENGAGEMENT Sugar

    Sell users are able to dive into Contact Scoring details by accessing Sugar Market’s Scoring Summary section directly in Sugar Sell.
  12. © 2021 SugarCRM Inc. All rights reserved. Sugar Market scores

    your contacts at an account level for an at-a-glance view of their engagement. ACCOUNT SCORING
  13. © 2021 SugarCRM Inc. All rights reserved. The Monthly Volume

    Dashlet enables your account managers to view and compare the number of monthly email and phone interactions at a glance. RELATIONSHIP ANALYTICS
  14. © 2021 SugarCRM Inc. All rights reserved. The Relationship Links

    Dashlet indicates who has the strongest relationship with individual contacts. RELATIONSHIP ANALYTICS
  15. © 2021 SugarCRM Inc. All rights reserved. RELATIONSHIP ANALYTICS The

    Missing Contacts Dashlet reveals contacts and relationships not currently present in your CRM database, and enables you to add missing contacts to your accounts.
  16. © 2021 SugarCRM Inc. All rights reserved. SugarBPM™enables you to

    automate complex business processes using a CRM workflow automation engine based on Business Process Modeling Notation standards. SugarBPM® Automation
  17. © 2021 SugarCRM Inc. All rights reserved. Hint automatically gathers

    data from a broad range of social, news, and business sources to provide valuable customer intelligence directly within Sugar Sell. Relationship Intelligence
  18. Recurring Revenue Management 3 WAYS TO MANAGE CUSTOMER CHURN

  19. © 2021 SugarCRM Inc. All rights reserved. MANAGE PRODUCTS ON

    ACCOUNT Sugar Sell’s purchases module enable you to track sold contracts with multiple revenue line items per contract. Track the term of the contract, the unit price, extended price, discounts and configurable special data points for your organization.
  20. © 2021 SugarCRM Inc. All rights reserved. NURTURE CUSTOMERS As

    we add products to our accounts we want to engage those accounts in product communications using Sugar Market’s nurture builder throughout the contract period
  21. © 2021 SugarCRM Inc. All rights reserved. ADDING PRODUCTS TO

    ACCOUNT Sugar Sell’s purchases module enables you to quickly add contract units such as additional subscription users. Sugar will automatically align add-on products to contract expiration date. Sugar will update the next renewal opportunity with updated product unit count and revenue.
  22. © 2021 SugarCRM Inc. All rights reserved. MANAGE ACCOUNT PURCHASE

    HISTORY Sugar Sell’s purchases module enable you to quickly add contract units such as additional subscription users.
  23. Existing Customer Pipeline Management 3 WAYS TO MANAGE CUSTOMER CHURN

  24. © 2021 SugarCRM Inc. All rights reserved. Not having a

    central view of your customers recurring services may lead to lost opportunities and revenue. RENEWAL PIPELINE MANAGEMENT
  25. © 2021 SugarCRM Inc. All rights reserved. AUTOMATICALLY CREATE RENEWAL

    OPPORTUNITIES
  26. © 2021 SugarCRM Inc. All rights reserved. QUICKLY ADD MONTHLY

    SUBSCRIPTIONS
  27. © 2021 SugarCRM Inc. All rights reserved. AUTOMATICALLY CREATE RENEWAL

    OPPORTUNITIES
  28. © 2021 SugarCRM Inc. All rights reserved. ARTIFICIAL INTELLIGENCE PREDICTIONS

  29. © 2021 SugarCRM Inc. All rights reserved. LEARN MORE Download

    the complete report for all the facts and figures, plus a country comparison chart for the U.S., U.K., Germany and Australia. sugarcrm.com/hd-cx/content/crm-sales-impact/ DOWNLOAD REPORT
  30. © 2021 SugarCRM Inc. All rights reserved. Sugar Platform Overview

    Sell Smarter Create more meaningful experiences and build lasting relationships. SugarCRM empowers your marketing, sales and services teams to collaborate across the entire customer lifecycle for more meaningful, memorable experiences. Market With Insight Capture the attention of your most promising prospects. Serve Exceptionally Give customers the support they need quickly and confidently. REQUEST A DEMO www.sugarcrm.com/demo
  31. © 2021 SugarCRM Inc. All rights reserved. Q&A

  32. © 2021 SugarCRM Inc. All rights reserved. Thank you!

  33. © 2021 SugarCRM Inc. All rights reserved. Country Comparison Chart

    AUSTRALIA GERMANY UK US Cannot access aggregated data across marketing, sales and service systems 50% 42% 48% 61% Agree that a consolidated view of customer information across the whole organization is critical in delivering optimal CX 82% 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 system provider 45% 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 existing processes 95% 76% 78% 89% Expect the use of AI to increase over the next 24 months 98% 80% 83% 93%