Have you thought about your clients’ year-​end renewals yet? Don’t wait until December to address renewals. By starting now, you can get a snapshot of their usage and the value you deliver. You can also uncover future opportunities. Then, you’ll be ready for the conversation.

Start now to drive year-​end renewals

Being proactive can boost your chances of continuing business with current clients. Starting early shows them that you care about working with them. And as Andres Lares points out for Selling Power, it gives you lots of prep time. 

“It allows you to propose and collaborate on a rough timeline of key milestones during the negotiation, he writes.

You have enough time to do a quality deep-​dive to determine all of the value you’ve delivered. This way, when the time does come to re-​sign, you have ample materials to share.

Churn Zero’s Cori Pearce agrees, noting that there are specific pieces of information that are particularly valuable. She recommends you have an understanding of their 

• product usage
• overall customer health score
• personal Net Promoter Score (NPS)

“These…provide a clear picture of where your customer might be experiencing gaps in the value of your product.”

So, in addition to showing value, you also can present opportunities for future success and satisfaction. 

Research now for renewals later

About three months before it’s time for year-​end renewals, reach out to the customer. Ask, or schedule a call. Find out what they consider to be major milestones of your past nine months together. Questions should include:

• Have you had any big wins? 
• Have you passed any major milestones?
• How has your business grown this year?

Compare their responses to your own data. You should have enough insight into their journey to craft a picture of their time with you. Find the connections between what they’ve achieved and their future goals. 

And be sure to draw on your knowledge of the client and their business, Lares reminds readers.

“You have first-​hand insight on what your client values, how they operate, and what moves the needle for their business.”

Use this meeting to introduce the topic of renewal. Make it clear you understand what the client wants to accomplish moving forward. Then, explain how a renewal will make this possible. 

Make sure that you engage in active listening during this meeting. While you want to inspire the desire to renew, you also need to listen. This is a time to hear what the client truly thinks about your time together. You may hear opportunities to fill gaps in satisfaction and expectations. 

And be sure to ask probing questions, Lares advises. 

“Don’t be afraid to push when they seem to be uncomfortable," he adds. 

Navigating tough conversations is the only way to improve and deliver what the client needs and wants. 

You also have the chance to gain insights that may be new or never previously communicated. These can be used to improve upon your plans for doing more business together. 

Introduce terms

Once you’ve optimized your year-​end renewal plans, it’s time for another meeting. During this engagement, steer the conversation toward your proposed terms of renewal. Be sure to circle back and highlight points from the previous meeting to support your plan. 

This is a time, too, to set expectations. The client should walk away with a clear understanding of what to expect during the renewal process.

“Customer success and renewal strategies go hand in hand here,” Pearce explains. 

Once again, use your time together to get their feelings on the proposal. Use the time ahead to work with them to fine-​tune details. You also have the chance to offer incentives for early renewal if possible.

While there is still ample time before it’s time for the year-​end renewal, you’ve set the stage for success. By being proactive, you’ve given yourself time to clearly demonstrate how you’ve delivered value. You also gained a deep understanding of the opportunities that lie ahead for you both. 

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