Recipe: Deal board for 'Renewals'

Who can do this? Anyone who can manage deal boards

Where to go? Deals > Pipeline > > Create new board

Stay on top of your team’s renewals by creating a deal board to see all account activity in one place. Use this deal board to get a pulse on your most important renewals and ensure that you can step in to help an account that may be at risk.

Follow this recipe to set up your own deal board showing renewals. We recommend that you build the deal board while you follow the recipe. You can modify the recipe to fit your needs. This recipe goes over the key differentiators for setting up a renewals board. Full instructions on creating a deal board are here.

Note:

You may not have all of the CRM fields we mention available to you. It depends on how your organization has set up your CRM and  which fields are being pulled into Gong. If you’re missing a field, get started with the fields that you have, and get in touch with your Gong tech admin for help. You can add fields to a board at any time.

Step 1 - Filter to see the right opportunities

1. In the Create new board > Filters section, select the CRM field you use for "deal status" and set the value to "open".

2. Create a filter for "opportunity type" set to "Renewal" and/or "Upsell".

3. Create a filter for "account health" set to "red" and "yellow".

Step 2 - Customize board columns

Add columns that give you a snapshot of the account status.

• In the Columns section, set up the following columns:

  • Amount

  • Close Date

  • Next Call

  • Warning

  • Stage

  • Account Health

  • Opportunity Owner

  • CSM

Step 3 - Configure warnings

• In the Warnings section, set the following:

  • No activity for  10 days

    • Set your activity warning based on SLAs and expected account activity.

  • No response on the prospect side for  3 days

    • Ensure your customers are not going dark just before the renewal is complete.

  • Close date in the past

    • Stay on top of lapsed contracts or bad CRM hygiene.

  • Only  2 or less active prospects for  15 days

    • Make sure the rep is engaging multiple people and teams in the renewal process

  • No  Vice President level or above active on the prospect side for  30 days before close date

    • Set this criterion based on internal executive requirements or SLAs for leadership engagement.

    • Depending on the renewal size, you will want to ensure your team engages executive leadership well in advance of the renewal, so determine these parameters and executive level accordingly.

Step 4 - Subscribe your team to the board

Make sure your sales team is up to date with what's happening on their swing deals, and give them a nudge to keep moving those deals forward, by making sure they get a weekly email digest tailored to them.

• In the Digest section > Subscribers tab, pick the teams that should get this mail.

Step 5 - Send updates to stakeholders

Make sure key stakeholders stay on top of these deals too by them up for a weekly summary of the board. Some people you may want to include are your Customer Success leadership and managers.

• In the Digest section > Observers tab, pick the relevant stakeholders and pick the team(s) they should see it for.

Step 6 - Set the board to show deals closing this and/or next quarter

When sharing this board with others either copy the URL, or ask them to make sure they're looking at closing this quarter and/or closing this month.

• On the Renewals deal board, set the time period to Closing this quarter and/or Closing next quarter.