5/23/2023 0 Comments Risk manager squareMany of you saw me present this framework last week at our annual conference, Pulse, and asked if I could share it in written form. Our new framework for managing risks uses an analogy between risks in one’s personal life and risks in customer relationships. Intervening early allows us to avoid firefighting. Segmentation allows us to create a more targeted playbook to resolve a given risk, and also to identify any systemic reasons why certain risks tend to occur in our business.įlag risks earlier, even before the relationship gets to a point at which the customer wouldn’t renew if their renewal date were 1 month away. Segment risky customers based on the cause of the risk.As we’ve grown larger, we’ve found a need to build on this process to achieve 2 goals: The Code Red process worked well for us when we were a smaller company. This process allowed our team to escalate risky customers to our leadership team and coordinate across executive sponsors, Support, Services, Product, and Engineering to get these customers back on track. In our original Code Red process, CSMs identified customers that would not renew if theoretically their renewal date were 1 month from now. In the past, we introduced the concept of Code Red as an approach to tackling risk in our customer base. We’re making it available to the community for the first time in this blog post. Allison introduced this framework for managing risks at Gainsight’s annual Pulse conference earlier this month.
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