Are your partners fully equipped to maximize renewal revenue and unlock growth opportunities within your customer base? Recently, a panel of industry experts joined Channelscaler to explore real-world examples of how they have implemented an automated partner renewal program, enabling them to optimize renewal revenue, reduce churn, and improve on-time renewal rates.
If you missed the live webinar, we’re happy to let you know that the recording is now available to watch on-demand, at your convenience. So, if you’re currently looking for ways to leverage your partners to unlock additional renewal revenue gains, look no further.
Tune in as Kenneth Fox, CEO of Channelscaler moderates a panel of channel leaders, including:
- Rob Rosa, SVP of Global Service Sales & Customer Success at Extreme Networks
- Mike Miller, VP of Global Services Portfolio Management at Ribbon Communications
- Sinéad McGrath, Renewals Executive at Channelscaler
In this webinar you’ll gain insights into Partner Renewal Revenue in 2024, including:
- Firstly, How Best to Support Partners with Their Renewals Pipeline
- Driving Higher Partner Renewal Rates and Measuring ROI
- The Role Automation Plays in Driving Partner Renewals
- Key Takeaways on Building a Successful Partner Renewals Program Strategy
Lastly, the webinar also addresses key questions from the audience that you will find valuable. Additionally, there is a brief discussion regarding interesting results from our audience polls.
Partners: Your Key to Renewal Revenue Success
Did you know:
- It costs 7x more to acquire a new customer than to retain an existing one
- 65% of the average company’s revenue comes from existing customers
- Existing customers are 60-70% more likely to expand their footprint and purchase more than that of adding new customers
With their deep customer relationships, in-depth product knowledge, and local market expertise, partners are uniquely positioned to drive renewal revenue and unlock expansion potential. These strengths enable them to effectively close renewal opportunities and develop opportunities for upsell and cross-sell, ultimately driving deeper customer engagement. By leveraging their partner network, vendors can significantly increase renewal rates and drive long-term revenue growth.
However, inefficient systems and poor data quality creates significant obstacles for partners when managing renewals. An astonishing 65% of vendors told us that they currently share renewal opportunities with partners via spreadsheets and emails. One global distributor even told us, “Systems are so bad, 50% won’t be quoted at all”.
How Automation Transforms Partner-Led Renewals
By implementing an automated partner renewal program, vendors can optimize renewal revenue, reduce churn and improve on-time renewal rates, by making it easier for partners to quote and track renewal progress. Thereby strengthening customer loyalty and deepening market penetration. This is certainly a great opportunity to discover how automation and strategic initiatives can transform your partner network into a key driver of renewal revenue.
For more information, schedule a demo with Channelscaler today!
