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?

Transcript

1. © 2021 SugarCRM Inc. All rights reserved.
   TOP 3 WAYS TO
   STOP REVENUE
   LOSS AND
   CUSTOMER
   CHURN
   

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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
   

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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
   

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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   out of date,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
   

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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
   

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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
   

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7. Account
   Management
   3 WAYS TO MANAGE
   CUSTOMER CHURN
   

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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
   

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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
   

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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
    

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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.
    

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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
    

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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
    

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14. © 2021 SugarCRM Inc. All rights reserved.
    The Relationship Links Dashlet indicates who has the
    strongest relationship with individual contacts.
    RELATIONSHIP ANALYTICS
    

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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.
    

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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
    

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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
    

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18. Recurring Revenue
    Management
    3 WAYS TO MANAGE
    CUSTOMER CHURN
    

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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.
    

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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
    

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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.
    

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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.
    

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23. Existing Customer
    Pipeline Management
    3 WAYS TO MANAGE
    CUSTOMER CHURN
    

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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
    

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25. © 2021 SugarCRM Inc. All rights reserved.
    AUTOMATICALLY CREATE RENEWAL OPPORTUNITIES
    

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

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

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

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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
    

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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
    

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31. © 2021 SugarCRM Inc. All rights reserved.
    Q&A
    

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

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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%
    

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