Renewals

Rough rough draft / placeholder

Goal/Objective of Renewals

We want to maintain our customers and their revenue, but also to grow our relationship with them and increase their overall lifetime value.

Who is involved

• CRO

• Customer Success

Resources

Hubspot: List of all companies and their first contract date and renewal date

• Go to Contacts > Companies > Renewals

Google Sheets: 2024 Sales Renewals

Process

The process is subject to change as we learn more about our customers and develop a playbook. In the meantime, we will identify what processes work and are repeatable. For these first renewals we will structure the process as follows:

Start Early - 60-90 days out should be enough time to have the conversations and work on the next agreement.

Questions to Ask / What We Need to Understand

• What are the expectations moving forward? Are there any timelines they are working against?

• Are there any new goals? How can we support them?

Success Metrics and KPIs

We should develop a baseline to understand our renewal performance and identify common themes across customers that could help us improve the renewal process.

Churn	Customers who do not renew	NumberPercentAnnual Contract Value
Expansion or Upsell Bookings	Current customers who add to their existing contract	Number Expansion/Upsell Contract Value Average percent increase in Annual Contract Value
Time to Complete Renewal	KPI to track how long the process is taking	Number of weeks

Also important to note are commonalities across customers such as:

• Pain points?

• What is working well?

• What is missing?

How will we measure and track the above three bullets?