Renewal Management

The Renewal Management program ensures that champions and decision makers are kept informed about upcoming renewals, subscription details, and any necessary actions required to secure the renewal. This program provides clear visibility into the renewal timeline and ensures proactive communication to avoid surprises, helping to safeguard the renewal process.

Main Audience

• Champions
• Decision Makers

Main Company Goal Supported

• Secure Renewals: By providing clear and timely renewal information, this program ensures the customer takes the necessary actions well in advance to secure the renewal and continue using the product without disruption.
• Improve Customer Success Efficiency: Automating renewal reminders and providing self-service access to subscription details allows the customer success team to focus on value-driving activities, reducing the need for manual follow-ups.
• Reduce Churn Risk: Ensuring the right actions are taken in a timely manner, and keeping customers informed throughout the renewal process, helps mitigate the risk of churn by addressing potential concerns early.

Customer Outcome (Objective)

Keep champions and decision makers informed about their upcoming renewals and subscription status, ensuring they have the information and actions needed to renew without any disruptions.

Main Actions for the Audience:

• Champions: Ensure internal teams and stakeholders are aware of the upcoming renewal, and confirm all necessary actions are taken in time to secure it.
• Decision Makers: Review and approve renewal details, ensuring the subscription aligns with the company’s ongoing business goals and budget.

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Key Actions:

• Renewal Reminders: Send automated reminders leading up to the renewal date to ensure that champions and decision makers are aware of the upcoming renewal.
• Subscription Information: Provide easy access to the current subscription details, including plan, pricing, and usage, so that the customer can make informed decisions.
• Renewal Action Items: Highlight any necessary steps, such as reviewing usage, confirming budget, or addressing any concerns, that must be completed before renewal.
• Proactive Communication: Reach out to customers to discuss any outstanding issues or opportunities for upsell/cross-sell during the renewal process.

Measurement of Success (Key Metrics):

• Percentage of renewals secured before the expiration date
• Customer engagement with renewal reminders and subscription information
• Number of successful renewals vs. churn at the renewal stage