Hi Everyone!
My name is Michelle and I manage one of our Solution Consulting Teams in the Professional Services Department. If you’re looking to learn some best practices as it relates to Net Retention & Churn, please review this in-depth video & deck (attached below) as you’re thinking about bringing that process into Clari! We go over the following:
- Why is forecasting/tracking renewals is important?
- Net Retention SFDC & Forecasting Set up
- Best practices for Calculations
- Churn SFDC & Forecasting Set up
- Key Considerations & Next Steps
In regards to requirements gathering, here are the Key Questions we will ask you:
- Who owns and is responsible for forecasting renewals, churns, and upsells?
- Attribution to the correct teams: If sales/AM team owns upsells and not CS, how can we attribute upsells to CS team members to get to NRR and GRR?
- Understanding opportunity set up: If expansions/upsells are in renewals, are they attached to the renewal opportunity or created as separate opportunities?
- Does the current role hierarchy structure support the forecast rollup for the Customer Success/Account Manager Teams?
- What record types/opportunity types are used to measure Renewals/Churn/Upsells?
- What amount fields are used to measure Renewals/Churn/Upsells?
- Do the following fields exist:
- Target Renewal Amount, Actual Renewal Amount, Expansion/Upsell Amount, Churn Amount
- Do the following fields exist:
- Do you have quota attainment against Renewals/Churn/Upsells?
- Are you tracking Renewal/Account Health?
- If so, what segments should we look to break it out in the Forecasting module?
- Ex. Red/Yellow/Green Renewals
- If so, what segments should we look to break it out in the Forecasting module?
- Are you tracking Churn Reasons?
- If so, what segments should we look to break it out in the Forecasting module?
- Ex. Addressable/Non-Addressable deals
- If so, what segments should we look to break it out in the Forecasting module?
Please start to think about these question as we’ll need this information to build it out for you! If you have any questions in the meantime, you can reach out to your Customer Success Manager and Account Manager.
