Where Art and Science Collide: From New Sales to Renew Sales
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Transcript of Where Art and Science Collide: From New Sales to Renew Sales
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Where Art & Science Collide: FromNew Sales to Renew SalesJay Ackerman, Chief Renewal Officer & EVP of CustomerSuccess, ServiceSource
Marc Cannon, EVP of Client Services, Bazaarvoice
Gabriel Szulik, VP of Renewal Programs, Red Hat
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Themes we will be covering
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Finding overlookedopportunities
Using differentmetrics
Get your entireorganization alignedaround doing things
differently
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Who is ServiceSource?
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1999
$10 Million
$9 Billion
2013
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New versus renew
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0101001010101010
01010101010010101010100101010001100010100
Newsale
Renewalsale
20X the data
40X thetransactions
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Bazaarvoice Overview
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1. Source: Forrester Research
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By 2016 an estimated
52%of total online andoffline retail sales willbe influenced byInternet content(1)
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Vision:Connect and amplifyall the voices ofthe market
Vision:Connect and amplifyall the voices ofthe market
Mission:Change the worldone authenticconversation at a time
Mission:Change the worldone authenticconversation at a time
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SellersBuyers
Makers
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Red Hat OverviewNovember 2013
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Company Overview
The World’s Open Source Leader
Provide reliable and high performing cloud, virtualization, storage, Linux®, andmiddleware technologies
>$1.3B in annual revenue
S&P 500 company trades on NYSE under ticker RHT
Market Capitalization more than $8 Billion
Headquarters in Raleigh, NC with approximately 80 worldwide offices
Long History of Operating Profitability and Strong Cash Flows
Approximately 6,000 Employees Worldwide
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Open Source Drives Innovation
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Red Hat Portfolio
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The renewals challenge
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It’s a volumeproblem
It’s a timingproblem
It’s a dataproblem
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Deconstructing renewal rates leads toopportunity
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Company A
ResolutionRate
ClosureRate
ConversionRate
95% x 93% x 90%
Net RenewalRate
80%
Company B
ResolutionRate
ClosureRate
ConversionRate
60% x 89% x 150%
Net RenewalRate
80%
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Evolution of customer deployments
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Lay the foundation Unwind bad habits Get strategic
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It’s a big opportunity!
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$30B
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Take a hard lookat your business.
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Don’t let thenumbers lie to you.
#1
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Question thestatus quo.
#2
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What could you dowith 10-20%
increase in renewalrate?
#3
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HOMERUN!
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http://www.servicesource.com/
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