![]() ![]() A platform bot messages the employee (via your business communications platform) that the account is at risk of churning within its message, it provides additional information on the account from your other applications.ģ. Once the client’s product usage drops below a certain threshold and they’ve used your product for a predefined period, the workflow gets triggered.Ģ. ![]() Here’s an example that our sales team uses:ġ. To help your reps prioritize the leads they pursue and use compelling messages in their outreach, you can activate prospects’ intent data with automation. Share intent data in near real-time and make it easy to act on Now that you know what revenue leakage is and the various forms it can take, let’s explore some automations that can help minimize it at your organization. Related: A guide to integrating your ERP system and CRM How to prevent and stop revenue leakage Whatever the invoicing issue, the outcome is consistent: you’re unable to collect the revenue you’ve earned in full, on time. For instance, finance, for some reason, might not become aware of the client, and as a result, they don’t deliver the invoice alternatively, if the data sync between, say, your CRM and ERP system isn’t working properly, finance might end up sending the client an inaccurate or incomplete invoice. Once you close an opportunity and are ready to invoice the newly-minted client, a few issues can take place. Unfortunately, like intent data, these health scores in and of themselves won’t prevent revenue leakage you’ll need to make the scores easily accessible to and actionable for the appropriate team members. The reasons behind churn, however, can be nuanced, which explains why organizations often attach health scores to accounts that consider a number of factors. Losing existing customersĬustomer churn is, clearly, the most concrete form of revenue leakage, as it’s revenue that your business loses. For instance, based on the sales process your organization establishes, your reps should gather certain pieces of information on a lead within a given time frame.įailing to meet whatever processes your GTM teams set can ultimately lead to wasted time your customer-facing employees might focus too much on prospects or clients that were never going to close or renew-and not enough on more lucrative and promising opportunities. ![]() Your customer-facing employees likely have to follow certain steps when nurturing leads and managing clients. Unfortunately, without a built-out automation (which we’ll cover in the following section), identifying and engaging with these leads quickly can be extremely challenging. G2) are often warm leads that can be converted relatively easily if nurtured promptly and strategically. Prospects that view your competitors’ pages on a 3rd-party review site (e.g. Here are just a few sources of revenue leakage. Related: What is customer success automation? (5 examples) The causes of revenue leakage Given this broad definition, revenue leakage can take different forms, depending on the department you look at. It’s the potential revenue your business could receive, but for whatever reason doesn’t come in. Workato, the leader in enterprise automation, lets your team build automations that can block any leak. ![]()
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