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MediaRadar, Inc., New York, New York, United States: Churn Challenge

Company: MediaRadar, Inc., New York, NY
Company Description: MediaRadar is an ad sales intelligence platform used by media and ad tech companies. It offers comprehensive ad analysis for over 4mm brands across multiple media platforms including TV, digital, mobile, email, and print. Our 3600+ clients enjoy the superior quality and amazing customer service that helps them identify new sales opportunities, create compelling pitches and outshine competitors.
Nomination Category: Customer Service & Call Center Awards Team Categories
Nomination Sub Category: Customer Service Team of the Year - Recovery Situation - Technology Industries
2023 Stevie Winner Nomination Title: Churn Challenge
  1. Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the achievements since July 1, 2021 of the nominated team, OR written answers to the questions? (Choose one):
    Written answers to the questions
  2. Briefly describe the nominated team: its history and past performance (up to 200 words):

    Total 198 words used.

    In 2023 MediaRadar faced a churn challenge, marked by a 60% renewal rate for first-year customers. This issue presented a stark lose-lose scenario, putting us in jeopardy from a financial and credibility standpoint, and customers in jeopardy from an ROI standpoint.  

    With an average contract value of twenty-five thousand dollars, MediaRadar risked turning over millions in revenue and our dominance of the advertising intelligence space. Competitor Winmo is a small fraction of the price, and MediaRadar is priced in accordance with the projected value of the product for each customer on an individualized basis. It would thus be impossible for MediaRadar to prove and defend that value if clients did not see reflective results via the ability to effectively conduct the most comprehensive competitive advertising analysis and win more business. 

    The Client Services team concluded that clients were struggling to fully master the platform, rendering it less impactful as a solution for their needs. All signs pointed to gaps in the onboarding process that limited client engagement with the platform or obstructed their ability to unlock the full scope of its offering, so the team set out to deploy a more hands-on approach to client education for adoption.

  3. Outline the team's achievements since July 1 2021 that you wish to bring to the judges' attention (up to 250 words):

    Total 249 words used.

    Recognizing the need to expediently adapt our customer training program to address the issues, we established the Onboarding Team to provide scalable support, prime clients to maximize the efficacy of our platform, and deliver superior service tailored to each client’s unique goals and journey. This service is bolstered by focused attention, but also leverages AI to weave in automation, blending personalization with technology. 

    We introduced success guides to enhance the learning experience, ensuring that clients demonstrate proficiencies within the first several months of their training. One key strategy involves identifying crucial accounts for each team. During their conversations, our team members inquire about the importance of specific accounts—information which is then used to provide customized data to support client objectives. 

    To further streamline the onboarding process, MediaRadar implemented different in-app messaging to guarantee that newcomers receive step-by-step instructions tailored to their onboarding journey, eschewing a generic "welcome to the university" approach. This evolution in our training program reflects a dedication to continuous improvement and empowers clients with the knowledge and skills needed for success. Each new client’s users undergo this process so that no one is left in the dark. 

    Since its inception in Q3 2023, the Onboarding Team has impressively increased 30-day user activity by 33% and sales rep activity by 49%, with respective 60-day increases of 44% and 57%—all compared to historical benchmarks. Stronger adoption rates in turn decreased early opt-out conversations to 0 in Q4 2023—an early sign of improvement amidst economic uncertainty for our clients.

  4. If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the spaces below.

  5. Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the team's past performance (up to 250 words):

    Total 248 words used.

    The Onboarding Team at MediaRadar addressed an urgent matter with remarkable turnaround. Despite the size of the lift, the Client Services team collaborated with leadership to promote a "we're all in this together" mentality, leading to the creation of a new team and a revolutionary training approach. This involved hiring new talent and restructuring roles with a meticulous separation of the people process of onboarding from its technical aspects. 

    The Onboarding Team displayed the utmost dedication to alleviating stress on our Sales Team, who are no longer forced to work tirelessly for renewals. Streamlining the hand-off process provided a smooth transition for sales reps, allowing them to step away from the renewal process confidently. 

    Eliminating the "bait and switch" issue, where decision-makers who weren’t actually using the platform felt blindsided by subpar results, was a hallmark of the Onboarding Team's success. Their achievements were quantifiable, with remarkable 33 and 44 percentage point increases in 30 and 60-day user activity, surpassing not only the team's past performance but also typical SaaS benchmarks of 80-90% renewal rates. Achieving 3x higher user engagement, the team mitigated against the leading causes of churn—low use and lack of value. 

    But the team’s achievements extend beyond metrics; they’re centered around fostering lasting partnerships for outstanding outcomes. Through understanding and addressing client needs with exemplary problem-solving skills, the Onboarding Team has not only set a new standard for onboarding procedures in the SaaS industry but also demonstrated prowess in delivering ROI, even in challenging conditions.

  6. Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):

    Total 126 words used.

    In the attached pdf and videos, you will find both client testimonials and testimonials from three of our Onboarding Managers from the Onboarding Team whose achievements we’ve detailed in our responses.

    The client testimonials serve as evidence of the impact that the new onboarding process has made and how instrumental the Onboarding Team has been in facilitating uptake of the MediaRadar platform. Clients understand and see the value in the platform as a result of the great work that the managers have done to educate them.

    The Onboarding Manager testimonials serve as examples of those team members’ dedication to ensuring the success of their clients in adopting the Mediaradar platform, descriptions of that success from the perspective of the educator, and further insights into their work.

Attachments/Videos/Links:
Churn Challenge
PDF Client_Feedback_from_Onboarding.pdf
URL Onboarding Manager Testimonial 1
URL Onboarding Manager Testimonial 2
URL Onboarding Manager Testimonial 3