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