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Track and Measure Early Renewals with Goals

Learn how to set an Early Renewals Goal in Vitally to measure renewals that are finalized 30+ days out.

About this Blueprint

Blueprints are a collection of Vitally best practices and use cases brought to you by today's Customer Success thought leaders.

Customer Success teams use Vitally Goals to track how their strategies and activities impact their business and customers.

In this Blueprint, you’ll learn how to create a Goal for ‘Early Renewals’ which tracks how often renewals are finalized 30+ days out. You can use this Goal to determine whether your forecasting is accurate, and if your Customer Success activities are yielding the desired results.

How this Blueprint works

To get started, you'll need to create a Goal Template, which are reusable goals that can be set across your entire customer base. In the 'Early Renewals' Goal Template, we've provided example criteria below that you can customize to fit your business needs:

  • Name: Early Renewals
  • How long until the goal is achieved? 60 days (for a typical 90-day renewal window, we'll set it for 60 days so we can have that 30-day window at the end)
  • When will this goal be considered achieved? As soon as all conditions are met before the end date
  • What conditions need to be met? ‘Renewal Stage’ is Finalized

The Renewal Stage’ metric could be a custom Trait that you’ve built in Vitally, or one that you’re syncing from other systems like Salesforce or HubSpot. Once your ‘Renewal Stage’ is marked as finalized within the designated time frame, the Early Renewals Goal will be marked as achieved in Vitally.

You can also automate the creation of an Early Renewals Goal by adding it as a Playbook action. If you’re already automating your renewal process in Vitally, simply add the ‘Set an Account Goal’ action to the very beginning of your Playbook.

Pro-tip: Embed Goals in a Vitally Doc to share them with customers or with your internal team members for better visibility and collaboration.

KPIs Impacted
  • Renewal Rate
Create Your First Goal

Head over to our blog post to learn more about the different use cases with Goals and how to create your first Goal in Vitally! If you’re new to Vitally’s Customer Success Platform and looking to improve your team’s efficiency and productivity, request a demo today.

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