Would love some feedback on best practices for Churned Deals. I have spoken a little bit with my CSM about this but I think I would like some more in depth answers from the community.
We are a SaaS company. Our deals involve self signup monthly deals as well as some more long term contracts. I want our customer success team to track our churn, as well as maintain historical data for the sales team. The dilemma is that if we don't have a churn function within a deal pipeline then we lose out on that KPI. But if we moved closed won deals to churn when they discontinue service we will lose that historical sales data of that deal being won.
My proposed solution that I really need feedback on: having a main sales pipeline that would follow the customer journey until the point of deal won / closed. Never moving deals out of a closed section, and our onbarding workflow triggers remaining with that sales pipeline
All closed won deals would flow into a new pipeline that would track active customers and then different types of churn that we have, all falling under different names but funneling to close lost. More of a view point from the customer success side, and not utilizing closed won.
Are you selling B2B or B2C. You can track churn on the Company or Contact level
Tracking on Company or Contact
Customer Status - Active (WF trigger to update when a company has an associated deal that is in Closed Won Add Timestamp Properties and Workflows for each customer Status to trigger when the customer status is updated
When a customer churns you update the company or contact to Churned and the Churn Timestamp will get set from above workflows
Tracking on Deal You could add similar property for Customer Status on the deal, and have similar timestamp properties to log the activity
Either way will help you see the length of the subscription.
I'd recommend tracking these on the Company or Contact versus the deal so your marketing team can create remarketing campaigns based on their customer status
Are you selling B2B or B2C. You can track churn on the Company or Contact level
Tracking on Company or Contact
Customer Status - Active (WF trigger to update when a company has an associated deal that is in Closed Won Add Timestamp Properties and Workflows for each customer Status to trigger when the customer status is updated
When a customer churns you update the company or contact to Churned and the Churn Timestamp will get set from above workflows
Tracking on Deal You could add similar property for Customer Status on the deal, and have similar timestamp properties to log the activity
Either way will help you see the length of the subscription.
I'd recommend tracking these on the Company or Contact versus the deal so your marketing team can create remarketing campaigns based on their customer status
