RainmakerForce, a San Francisco-based sales technology company features a powerful off-the-shelf SaaS for companies to drive renewal revenue in a systematic, predictable and sales-centric manner. While it is cheaper to keep an existing customer than get a new one, CFOs and sales leaders closely monitor renewal (or churn) rates because renewals are critical for healthy EBITDA margins and to sustain growth. RainmakerForce is a turn-key solution for companies to not only increase renewal rates but also grow the installed base systematically. Its technology encapsulates robust data-science and field-tested selling techniques to predict the likelihood of renewals as well as increase revenue with adaptive cross-selling and up-selling.
Renewals teams in most companies nowadays swivel between CRMs, support ticketing systems, voice dialers and other applications that do not communicate with each other. There is a market problem too: Most of the available commercial renewals software focus on billings or subscription management and completely miss providing a systematic sales solution to renewals. “Every renewal is a cumbersome manual process riddled with inefficiencies, human errors and missing data that generally underserve the customer’s true needs,” notes Mack Sundaram, CEO of RainmakerForce. “Even in companies with best-in-class renewal rates, lack of systematic up-selling or cross-selling leaves them with flat growth and vulnerable to competition. Add unpredictability to the mix and we have sustainable growth in jeopardy.”
RainmakerForce turns renewals into a science by getting teams to reach out to customers with the right messages with the right offer and at the right time. At its core, it forces a selling discipline and fortifies it with machine-learning to achieve the highest net revenue increases from the installed base. Being a smart technology, it proactively synthesizes customers’ post-sales consumption patterns and risk triggers and transforms them into meaningful actions that are both ripe for the taking with existing customers and for increasing value to them. Laying the groundwork to make renewals systematic is seamless with RainmakerForce as it literally snaps-on to any existing CRM and minimizes internal change management. The day-in-the-life of a renewal rep remains unchanged while their actions get customers to describe what they value, when and where they use products and how their organizations work. Such data-capture enables companies to determine which specific actions motivate buying and also whether any given customer is likely to renew, is on the fence and if they can be influenced.
“We started in 2015 by helping a large telecom provider in Denver get a full grasp of their installed base and transform their renewals into a growth engine,” remarks Sundaram. “As our product matured with more companies using it, we have observed an average 22.3% increase in renewals and top-line growth. 2018 has kicked off with strong economic fundamentals and companies will be counting on the investments they made in customer acquisition to pay off. We are excited to help them see that promise of good things to come!”
RainmakerForce technology augments a disciplined adaptive sales technique with millions of customer behavioral data points that predict buying behavior, remove blind spots and eliminate guesswork in sales. For more information, visit https://www.rainmakerforce.com/