CSM Practice - The Customer Success Podcast Why Giving Renewals to CSMs Works (and How It Can for You Too)
Apr 4, 2025
Ephrat Peled, Head of Customer Success at Bring, shares her expertise on innovating renewal processes. She reveals how transferring renewal responsibilities to CSMs boosted accuracy from 80% to 100% and elevated customer satisfaction by 5 points. Ephrat discusses the strategic steps necessary to empower CSMs, even for complex enterprise accounts, highlighting the transformation of their roles into trusted advisors. Get ready to rethink renewal management and learn new approaches to enhance customer relationships!
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Bring's Initial Renewal Process
- Bring used a traditional model where CSMs managed the customer relationship but sales handled renewals and upsells.
- This caused friction and missed renewals, especially for smaller deals where sales lacked incentive.
Initial Concerns about CSMs Handling Renewals
- Transitioning renewals to CSMs wasn't easy, as some CSMs believed handling financials would jeopardize their trusted advisor role.
- CSMs feared customers would be reluctant to share business goals if they thought CSMs were just trying to sell.
Pilot Program Success
- Piloting CSM-led renewals yielded surprising positive results, exceeding expectations for secured renewals.
- Customer satisfaction improved, with NPS increasing by five points, contrary to initial concerns.