Relationships Drive Outcomes: How to reduce churn and drive expansion with Champify and Sendoso
March 14, 2023
In today's macro-economic climate, a dollar saved is often more valuable than a dollar earned. As the cost of acquiring users (CAC) continues to increase, improving the lifetime value (LTV) of your customer base and the net renewal rate become increasingly important metrics for a company's success.
That’s where tools like Champify and Sendoso can help. Sendoso is the corporate gifting platform leader who helps companies realize the benefits, business value, and results of maintaining and strengthening relationships. They've helped customers like Blend, Tealium, and hundreds of others boost new meetings by 33%, drive onboarding completion and retention, and save hours of hours in manual effort.
Champify and Sendoso customers like Clari, Modern Health, and Thoughtspot:
Identify the contacts most likely to respond and start a new conversation
Identify and build new champions when multi-threading in an active new or expansion opportunity
Get in front of churn due to key contact departures, by addressing personnel changes in a timely manner
How to get started with Champify and Sendoso
Define & rank the customer relationships that matter to your business: typically buyers, post-sale stakeholders, and product power users.
Map out your orchestration: each job-change scenario, the owner, and the action (example below)
Incorporate this "relationship orchestration" into your routing logic using a tool like Leandata, which can automatically trigger actions in tools like Outreach, Gainsight, and Sendoso.
In Sendoso, configure your account to provide guidelines for gift giving. We recommend configuring spending thresholds based on seniority, account tier, and relationship tier.
Enable your Account Management and CSM team. How you action the data is just as important as if you action it.
Top 3 Champify + Sendoso Plays for Driving Renewals & Expansion
Protecting and expanding existing customers is becoming increasingly important in today's macroeconomic environment. Sendoso can be used to enhance existing relationships as well fostering new ones. We recommend you configure similar routing logic to drive Customer Success (CSM) and Account Management activities which can be activiated in platforms like Catalyst or Gainsight.
Play 1: Champion Departure Creates an At Risk Account
This play aims to de-risk key accounts by quickly and proactively identifying strategic contacts after your main point of contact leaves for a new job. This helps prevent ugly surprises around renewal and is especially important to automate when CSMs are managing a high volume of accounts.
Key contact leaves
Leading indicators: Response Rate, Meetings
Success Metrics: Net Renewal Rate
After identifyingthe next best contact(s) by seniority, replacement, or active product usage you are going to want to explain who you were working with, the outcome you delivered, and why you are reaching out to this person (role, product usage, etc.). We recommend sending a company branded gift in this case to make sure you are top of mind (i.e. company branded mug, water bottle, some coffee, etc.).
Play 2: Expansion Opportunity - New Target Persona joins a Customer
A former customer in an ICP role joins an existing account
Account Manager/CSM (team member who owns expansion)
Leading indicator: response rate/meetings
Success Metrics: Expansion revenue, Net Retention Rate
First and foremost you're going to want to congratulate them on their new role, using Champify to pull in information like their former CSM name to personalize your message. At this stage you are in the position to help your former customer feel in the know at their new job. Introduce to them to how their new company is using your product today and who you are working with. Last, see if there is an opportunity for you to help them deliver results in their new role.
Why use Champify to power your Sendoso Campaigns?
Champify has increased overall positive response rate 3.8X across its customer base, increased the number of meetings per SDR by 12%, and has even influenced more than 60% of all the pipeline for a 500-person B2B SaaS customer.