Monthly renewals: How can you incentivise retention and expansion for these?
Contributor 
Updated by Heather Wendt
Hey everyone. I'm building a comp plan for our larger customer segment as we're growing our team and have some ambitious growth goals for 2022!
I've searched far and wide for material on this but it seems as though most companies deal with annual contracts only, or monthly customers are placed in a completely separate segment. In our case, some of our monthly customers are paying us quite a bit of money, more than some annual contracts, so we're very keen to retain (and hopefully expand) them, and of course incentivise this for the team.
For annual customers, we'll be working towards an NRR goal tracked on a quarterly basis - fairly straightforward. We have an existing amount of revenue, and we want to maintain a certain NRR figure.
For monthly customers, I'm a little bit stumped. I've looked at tracking results, and compensating, for these across each quarter but keep running into some issues. A big thing to also consider is that the number of monthly customers in this segment will continue to grow throughout the year, we'll need a plan in place so these are also being considered as part of our quarterly retention & expansion targets.
Any thoughts and guidance would be appreciated!
Thank you
I've searched far and wide for material on this but it seems as though most companies deal with annual contracts only, or monthly customers are placed in a completely separate segment. In our case, some of our monthly customers are paying us quite a bit of money, more than some annual contracts, so we're very keen to retain (and hopefully expand) them, and of course incentivise this for the team.
For annual customers, we'll be working towards an NRR goal tracked on a quarterly basis - fairly straightforward. We have an existing amount of revenue, and we want to maintain a certain NRR figure.
For monthly customers, I'm a little bit stumped. I've looked at tracking results, and compensating, for these across each quarter but keep running into some issues. A big thing to also consider is that the number of monthly customers in this segment will continue to grow throughout the year, we'll need a plan in place so these are also being considered as part of our quarterly retention & expansion targets.
Any thoughts and guidance would be appreciated!
Thank you