At a Glance
- Tasks: Manage vendor relationships and ensure client retention through excellent service and communication.
- Company: Join The Knot Worldwide, a global leader in celebration planning across 16 countries.
- Benefits: Enjoy hybrid work, 25 days holiday, life insurance, and mental health support.
- Why this job: Be part of a passionate team making a difference in people's lives through celebrations.
- Qualifications: 1+ year in a revenue-focused role; experience in subscriptions or account management preferred.
- Other info: Opportunity to work in a fast-paced environment with a focus on growth and retention.
The predicted salary is between 28800 - 43200 ÂŁ per year.
WHAT WE DO MATTERS:
Here at The Knot Worldwide, we believe in doing work that matters. In more than 16 countries around the world, The Knot Worldwideâs leading family of brandsâincluding The Knot, WeddingWire, Bodas, The Bash, The Bump, and moreâhelp people take celebration planning from inspiration to action. When you join our global team, youâll be a part of a diverse group of individuals passionate about serving and enabling our communities to celebrate the moments that make us.
ABOUT THE ROLE AND OUR TEAM:
As a Vendor Retention Specialist youâll be responsible for vendor management. You will be given an account base which you will have regular contact with, build relationships with and minimise any risk of them leaving the platform by giving excellent customer service support and through demonstrating outstanding sales negotiation skills. Your key focus will be revenue, growth and retention rates each month as well as regular check-ins to discuss account set-up, expectation management, âoperational healthâ performance, needs analysis and return on investment. You will also be responsible for re-contracting clients who may have dropped from your portfolio in previous months; convincing them to re-join our services.
Youâll be working to tight turnaround times, using your communication skills, empathy and problem solving abilities to navigate requests from vendors across the country. You will spend a lot of time on the telephone building relationships, and will be an excellent communicator.
RESPONSIBILITIES:
- Serve as the primary point of contact for all of your assigned clients in our Tier 1 segments, working efficiently and in a fast-paced environment to handle and renew all of your accounts within the required timeframe.
- Achieve a monthly revenue target which is set based on the retention of your client portfolio.
- Ensure timely and successful delivery of TKWW solutions according to Vendor needs and objectives, including the management of contract renewals & cancellation requests.
- Track and report on all activity and results in our CRM, as well as ensure accurate customer account information.
- Achieve expansion & winback goals through educating customers on the value of our Hitched Pro program and services.
- Maintain ownership and accountability of a select number of priority accounts to achieve monthly ACV targets via expansion, winback, and cancellation mitigation.
- Ensure adherence to all prescribed call metrics, meeting targets, and outbound call/email campaigns.
- Remain 100% compliant with all data, record-keeping, and reporting requests.
- Other projects/duties as assigned.
SUCCESSFUL VENDOR RETENTION, SPECIALIST CANDIDATES HAVE:
- Ideally 1+ year in a revenue-responsible role
- Preferred experience working with targets or other individual metrics accountability environment
- Preferred experience working in subscriptions or managing high-volume of accounts.
- Ideally renewal/retention/cancellation experience in a B2B setting
- Comfortable with direct accountability for individual and team outcomes
- Proven influencing and problem-solving skills. Can get customers to âyesâ in multiple situations using multiple tools
- Excellent written and verbal communication skills
- Customer service and relationship building skills, including the ability to de-escalate sensitive conversations with customers via phone and email
- Thrives in a high-pace and collaborative team environment
- Quantitative and analytical skills
- Comfortable with change, ambiguity, and decision-making with incomplete information
- Ability to prioritize and stay organized while balancing inbound client requests/questions and outbound proactive outreach
BENEFITS:
- Hybrid working
- 25 days of holiday + bank holiday
- Pension Scheme
- Life insurance
- Medical expenses covered
- Access to a laptop and mobile phone as a work tool
- Birthday day off
- On demand mental health assistance
- Referral program
\”Please be informed that as part of the application process, and only if you achieve the final phase of the process, your personal data may be used for a pre-employment screening check as permitted by applicable law. The pre-employment screening will include verification with your former employers of skill proficiency, education, employment history, and other information (development as employee) that may be necessary for determining your qualifications and suitability for the open position at TKWW. You will be informed thoroughly about the entire screening process beforehand separately.\”
Subscription Retention Specialist employer: The Knot Worldwide
Contact Detail:
The Knot Worldwide Recruiting Team
StudySmarter Expert Advice đ¤Ť
We think this is how you could land Subscription Retention Specialist
â¨Tip Number 1
Familiarize yourself with The Knot Worldwide's family of brands and their unique offerings. Understanding the specific services and value propositions will help you effectively communicate with vendors and demonstrate how our solutions can meet their needs.
â¨Tip Number 2
Practice your negotiation skills by role-playing different scenarios where you might need to convince a vendor to renew their contract. This will prepare you for real-life conversations and help you feel more confident in achieving your revenue targets.
â¨Tip Number 3
Develop a strong understanding of CRM tools and how to track client interactions effectively. Being organized and data-driven will not only help you manage your accounts better but also demonstrate your analytical skills during the interview process.
â¨Tip Number 4
Showcase your customer service skills by preparing examples of how you've successfully de-escalated sensitive situations in the past. Highlighting your ability to build relationships and resolve conflicts will be crucial for this role.
We think you need these skills to ace Subscription Retention Specialist
Some tips for your application đŤĄ
Understand the Role: Make sure to thoroughly read the job description for the Subscription Retention Specialist position. Understand the responsibilities and required skills, especially focusing on vendor management, customer service, and sales negotiation.
Tailor Your Resume: Customize your resume to highlight relevant experience in revenue-responsible roles, account management, and customer retention. Use specific metrics or achievements that demonstrate your success in similar positions.
Craft a Compelling Cover Letter: Write a cover letter that showcases your communication skills and problem-solving abilities. Mention specific examples of how you've successfully managed client relationships and achieved retention goals in the past.
Highlight Relevant Skills: In your application, emphasize your quantitative and analytical skills, as well as your ability to thrive in a fast-paced environment. Make sure to mention any experience you have with CRM systems and managing high volumes of accounts.
How to prepare for a job interview at The Knot Worldwide
â¨Show Your Relationship-Building Skills
Since the role focuses heavily on vendor management and relationship building, be prepared to share examples of how you've successfully built and maintained relationships in previous roles. Highlight your communication skills and any specific strategies you used to foster strong connections.
â¨Demonstrate Your Problem-Solving Abilities
Prepare to discuss situations where you've had to navigate challenges or de-escalate sensitive conversations. Use the STAR method (Situation, Task, Action, Result) to structure your responses and showcase your ability to find solutions under pressure.
â¨Know Your Numbers
Familiarize yourself with key metrics related to retention, revenue growth, and account management. Be ready to discuss how you've met or exceeded targets in the past, as this role is heavily focused on achieving monthly revenue goals.
â¨Be Ready for Role-Playing Scenarios
Expect to engage in role-playing exercises during the interview to demonstrate your sales negotiation skills. Practice common scenarios you might encounter in the role, such as handling a cancellation request or convincing a vendor to rejoin the platform.