Discuss Sell Renewal

Define Renewal Sales and Contracting?

Renewal represents the following examples:

  • Subscription service renewal
  • Software licensing
  • Consumables sales
  • Selling additional services (post initial sale)
  • Product refresh
  • For government: Vehicle Registration Renewal

Level-3 Processes

  1. Initiate Renewal - Identification of the need for renewal. This may be done based on reports, automatic notifications or sales agent driven
  2. Select Renewal Type - Identify the renewal process and assign renewal sales resources
  3. Notify Customer - Inform the customer it is time for renewal
  4. Refresh Customer Needs - Collect information of customer problems and update customer
  5. Develop Solution - Analyze customer application and usage information and develop a renewal value proposition. This includes developing the value proposition of an up-sell
  6. Propose Solution - Present the product or service renewal proposal to the customer and collect feedback - In person, online meeting, written
  7. Review Feedback - Review customer feedback on presentation and determine corrective actions (link back to develop solution)
  8. Release to Contract - Identify the contracting resources and request renewal proposal.