Documenting Subscriptions lifetimes

NLatNWEnforcement Member Posts: 11
Name Dropper First Comment
edited October 2023 in Sales CRM #1

The Subscriptions option seems to be relatively new and not well integrated. Our business is primarily monthly subscriptions for services. One of the metrics we want to track is why clients cancel their services. I initially thought this would be doable via "Lost reasons". But I'm uncertain what happens if I make a client that's "Won" for the term of their contract and then "Lost" when they cancel. How would that affect our revenue reporting? Our W/L ratio?

Our contracts auto-renew by default so really I would like to set payments to infinite. But if I can't set the deal to "Lost" to obtain the "Lost Reason" then I can only think of changing the subscription price to $0 at the termination of their contract. But then I don't know how to document why they canceled services.

Would love to hear feedback from the community on how they manage the termination of their subscriptions and capturing the relevant data in order to calculate their KPIs

Best Answer

  • Manuel Oliveira
    Manuel Oliveira Admin Posts: 1,115 COMMUNITY MANAGER
    5 Likes First Answer First Anniversary First Comment
    #2 Answer ✓

    Hi @NLatNWEnforcement , yours is an interesting case that could surely be tackled differently by different users. Off the top of my head, I'm thinking you can use automation so that each separate contract is a deal that keeps duplicating, for example.

    As for tracking the lost reason, maybe having one or more custom fields in your contacts for the subscription status, and the Lost Reason.