The Renewal Likelihood Score indicates how likely a customer is to renew their contract with you. This score summarizes the customer’s perception in three core areas: How much value they achieved with your solution, how much effort was required to achieve that value, and if competitors will be evaluated at the next renewal.
In This Article:
- How is the Renewal Likelihood Score Calculated?
- Where can I find the Renewal Likelihood Score?
- Read More
How is the Renewal Likelihood Score Calculated?
The Renewal Likelihood Score is calculated based on respondent feedback in three main areas:
- To what extent was the customer able to achieve their desired results from your solution? This information comes from the performance ratings provided by your buyer across the results criteria most important to them.
- How much effort did it take to achieve those results? This information comes from the rating provided on the question,
- At renewal, does the customer plan to evaluate competitors? This information comes from the probability of competition, which is provided in response to, “When it comes time to renew, do you plan on evaluating competitors?”
- Responses to each area above are assigned a score:
- We average performance in the results important to the buyer
- We capture your performance in ease of delivering value (effort)
- We assess whether or not the renewal will be competitive
- Each score is then weighted. We sum the weighted scores, and finally we convert it to a percentage.
- High risk: is shown when renewal likelihood score is 55% or lower.
- Moderate risk: is shown when renewal likelihood score is between 55% to 88%.
- Low risk: is shown when renewal likelihood score is 88% or higher.
- Unknown: is shown when renewal likelihood score cannot be determined.
Please note: Because this is a proprietary calculation, the precise formula is not available for distribution.
Where can I find the Renewal Likelihood Score?
The Renewal Likelihood Score and risk level are represented in the following places in the Dashboard:
Above image is found on the Opportunity Overview page.
Above image is found on the individual interview’s page.
- The Revenue at Risk tile on the Dashboard.
- In the Customer Quadrant tile on the Dashboard.
- Interviews Tile Overview
- Interviews View Overview
- Opportunity Overview for Customer Experience Programs
- Where can I see all of my interviews?
- How can I group my interviews by opportunity or respondent?
- Where can I see an overview of one opportunity?
- Where can I see the transcript for an interview?
- Where can I add and view files for an opportunity?