For agencies, a successful extension has the potential to revitalize your customer relationships. It’s an opportunity to highlight the value of social media, learn more about your client’s future strategy, and share your vision for the future. That said, taking this opportunity to express your worth can rightly be causing some nerves.
Customer renewal talks can be challenging, but when they do If you are convinced of the work done, it is all a matter of preparation. Shake your nerves and use the following tips to build a strategic, quantitative business case for the continuation of your agency-client relationship.
The end of a contract is not the end of the world
In fact, it’s just the opposite. Renewal calls are an opportunity for agencies to educate customers about how social networks affect key metrics in their business. Take advantage of the teaching opportunity and continue to build on the relationship you have built with your great work.
It’s all a matter of preparation. Take the time to review all of your conversations and efforts from the end of the contract term to determine which pieces of evidence are most effective during the renewal process. Once that’s done create one updated proposal and get ready to usefully expand your services.
This is how you prepare for customer renewal talks
We spoke to Katie Dubow, President of Garden media group, Winner of our 2020 Always Be Growing Sprout Partner Value Awardfor tips on preparing for successful customer renewal meetings. This is what she had to say:
Retaining a customer is a lot easier than finding a new business, so invest in the planning. Be proactive and start renewal calls early so you have time to find opportunities to delight your client as their contract nears the end.
“We start internal talks about three months before the contract is extended,” says Dubow. “What do we have left in the household that we haven’t finished yet? How can we keep knocking it out of the park for the past three months? Are there any free reports, bonuses or anything else we can deliver to the customer to exceed expectations? “
Empower your case by hosting a separate call to discuss past performance and future goals. Use the information you receive to ensure your renewal proposal covers all of the client’s most pressing goals and concerns.
Dubow recommends planning the conversation about the extension with enough time. “When working on social media for customers, we try to plan two months in advance so that the editorial calendar is complete and, ideally, there is no service break.”
According to Dubow, managing expectations is the best way to encourage ongoing customer renewals. “You should know during the months of work if you have a strong reason to renew.”
Large agencies lay the foundation for loyalty right from the start. Open communication about the full scope of services – including potential risks or pitfalls – can help you take control of a situation when things don’t go as planned.
Do this by identifying potential barriers to success as soon as possible. Your customers rely on you to be the expert so they may not know what information you need to meet and exceed their social goals. Ask thoughtful questions, generate regular reports, and don’t expect your customers to understand the details of your service offering straight away.
Go the extra mile
It’s the little things that can turn your agency from a service provider into a partner. Results are important, but what makes a lasting impression is the experience you give your customers.
Dubow’s advice? “Do your job, do it well and do it with as little effort as possible from the customer.”
“After you’ve nailed this part, don’t forget to make each customer feel special. Even if the ‘gift’ you are offering is meant for all customers, you make your customers feel like they are part of your business world and vice versa. “
These gestures don’t have to be extravagant. This can be a simple birthday card or a small gift to start a big campaign. Make sure all of your packages come with the white glove service required to make your agency indispensable and talks about renewals will be in your favor.
4 Social Media Reports That Can Empower Your Case For A Renewal
When building a business case for customer renewals, sharing reports is only half the battle. Show your effectiveness by designing your customer reports in the context of their overarching business goals and the impact of social initiatives. The following reports can help you collect the metrics you need to position yourself as a necessary partner for your customer’s success.
Audience growth and engagement
Awareness and engagement metrics align with multiple social media goals. An audience growth report that shows upward trends will always result in a job well done.
Take this performance report to the next level by dealing with the spikes and dips. What content drives most actions? What does this say about audience preferences? The deeper insights you can share, the more valuable your services become.
Sprout users can leverage the Profile Performance Report, which provides a high-level summary of performance data across multiple channels to help shape renewal conversations. Start with the big picture, then move on to areas of success and opportunities for growth.
Social media management services never pause when the clock strikes 5 p.m. 77 percent of consumers expect brands to respond within 24 hours of a message of, according to a new study conducted by the Harris Poll on behalf of Sprout Social. It may seem natural for agencies to maintain high standards of social engagement, but that doesn’t mean it is an easy job.
Use Sprout’s internal reports to show that your agency is uniquely positioned to keep up with your target audience. Specifically, use the Inbox Team Report to show how quickly customers can expect a response when they contact the accounts you manage.
Brand share of the voice
In the social field, brand Share of vote measures how much your customer dominates the conversation in his branch. In addition to measuring brand visibility, a healthy share of voice shows the time, skill, and strategy your team has invested in your client’s social media presence.
Sprouts Competitive analysis hearing performance report calculates share of voice by dividing the number of messages sent within a topic by the number of messages with specific brand mentions. The report measures share of voice estimates for your customers and their top competitors.
Using social listening tools to go beyond that traditional surveillance practices shows the value of your services and partnership. As an agency, you can gain unprecedented insight into the conversations that are being conducted not just about customers’ brands, but about their industry as a whole, enabling you to make smarter marketing decisions that drive results.
Sentiment data speaks volumes and quantifies how people think of a company. In today’s world, emotions are Factor number one in purchasing decisions. Positive feelings towards a brand can directly support sales growth.
If you’ve helped clients navigate and respond to social crises, sentiment analysis is a great way to prove your impact. Use it to compare how it has changed or rebounded brand sentiment. Combine these insights with a customer response report to highlight the tangible fruits of your brand management efforts.
Make your case with confidence
To create a successful business case for a customer renewal, you need a compelling combination of qualitative and quantitative evidence. Think about your work and what makes up your social media services. When it’s time to crack the numbers, download our. down Social media metrics map to find the stats you need to make an impact.