Whether it's 30 days, a year, or 5 years, at some point, your deal is officially up for renewal. But what many salespeople don't realize is that your deal is up for review each and every day. Learn how to build your success story before renewal time and make the decision to continue easy for your buyer.
- When is your deal up for renewal?…30 days, 12 months, five years?…What many BusDev reps fail to realize…is that the contract is up for renewal…each and everyday.…Sure, your terms and conditions might penalize…an early termination but your buyer isn't saving…that decision of renewal for the one day you bring it up.…That's why your focus on renewal starts…the day your deal is signed.…Every interaction you have with a customer…from that point forward is an opportunity…to sure up your contract renewal.…
And to ensure a successful renewal, you'll need to zoom in…on two key areas in your customer conversations.…First, report regular results.…Waiting until a goal is 100% complete is too long.…Reporting updates, progress and milestones…keeps you top of mind with your buyer.…Help them see that progress is being…made against their original objectives.…Routinely update your buyer on what's happening…and how progress is being made.…
Second, acknowledge implementation challenges.…A lot of reps are afraid to ask about or bring up problems.…
- Prepare for strategic conversations.
- Describe how to ask pointed, high-value questions.
- Articulate how to anticipate objections.
- Identify effective body language.
- Personalize your pitch deck.
- Manage the handoff effectively.
- Ask for internal referrals.