The Renewal Call: Tips And Tricks
When a client’s contract is coming upon its last few months, it is a good time to start thinking about the renewal call. This is a chance for the client to renew their contract and even potentially upsell on the new contract. As this call is different from weekly or monthly check-ins, here are answers to common questions surrounding the renewal call or meeting.
When should I have a renewal call or meeting?
The renewal meeting or call should come at least two months prior to the existing contract’s expiration. This way the call will not surprise the client and will give you and the client time to negotiate the new contract.
How do I know if a client is right for a renewal?
Sometimes, you and the client are just a bad fit, and that is OK. It is better to let this client go than waste your time and the clients with a renewal contract. However, if you feel that things are going positively and the campaigns are meeting their defined goals, propose a retainer increase.
What should I do to prepare for a renewal call?
First, set an agenda for the call. Also, give a client a heads up that the renewal call is coming up.
Who should I include on the renewal call?
Besides from your main point of contact, make sure that the person who is responsible for paying the retainer is on the call. Further, invite everyone from the client’s team to the call-you’ve done great work for your client in the past year and it is time to celebrate that and also inspire everyone on the client’s team to see the validity in what you do as an agency.
How should I know to propose an upsell? I do not want to come off as too forward and lose the contract.
Upselling can be tricky but treat it like a conversation and it will go smoothly. Here are some common indicators that your client could be in the market for an upsell:
- Their company is expanding or has plans to expand in the next year
- They are launching new products or services
- They are overachieving their goals
- The client has a steady increase in contacts
These are all indicators of your successful inbound efforts with your client and are good signs that your client would be ready for an expansion of the services you offer.
The renewal call is a chance to prove your agency’s value to the client’s team and move towards another year of delivering success.