The War Room
Discussion
Post

Contract renewals

Assuming your term length is 3-5 years or something (not month-to-month), how far out do you start the renewal conversation? Do you have contract language regarding auto renewal? What's that timeline look like? Ours is 30 days out it goes to auto renewal if no new terms are agreed to.

How far out?
Attached poll
*Voting in this poll no longer yields commission.
πŸ‘‘ Sales Strategy
☁️ Software Tech
😎 Sales Skills
3
Beans
Politicker
+5
Account Executive
About 6 months, however at the QBR's we check in on new modules for their program.

Or after any legislative changes.
HarryCaray
Notable Contributor
+14
Regional VP
@BeansΒ you gonna hit the upvote on these posts??Β  I appreciate all the comments but if you're interested in the topic help me out with the commish if you don't mind!
Beans
Politicker
+5
Account Executive
Fair play.Β 

I'll run through.
Show 1 more replies
Selichimorpha
Politicker
+6
Growth Executive
We renew around 6 months out, Auto renewal hits at 60 days - our contract lengths are around 12 months.Β 
HarryCaray
Notable Contributor
+14
Regional VP
Do you all have contract language for incremental price increase at auto renewal?
Selichimorpha
Politicker
+6
Growth Executive
Sometimes, our client success team is part of our sales division, it's their job to grow their portfolio 10% every month, so it's up to their discretion if they want to increase the price on a specific account.Β Β 
CuriousFox
WR Officer
+11
Needer of Life Alert
6 months out is a sweet spot.
HarryCaray
Notable Contributor
+14
Regional VP
That's what I do too generally
CoorsKing
WR Officer
+11
King of the Coors Knights
It depends if I am trying to add product or just flat renewal. Flat, 3 months ish. Adding product, 6-12 months out. I have "renewed" someone 3 years early before too...Β 
HarryCaray
Notable Contributor
+14
Regional VP
A peer of mine here is awesome at getting a customer to renew early.Β  I've gotta figure out how to get that done.
wHaTyAgOtCoOkInG
Catalyst
+4
Account Executive
depends on quite a few factors, but if you get incentives on early renewals, always work to your incentives
HarryCaray
Notable Contributor
+14
Regional VP
Good call.Β  Need to push some incentives to get these done earlier
Soiboi
Politicker
+5
Account Executive, EIAS/Compliance
Typically hit 3 MO and send it our for reviewal since I meet with them quarterly anyway it works out.Β 
HarryCaray
Notable Contributor
+14
Regional VP
definitely helps if you're in constant contact with them.
8
Deal Story
CountryRoadTakeMahomes closed a deal for $54k to the Legal, Safety departments
This deal took me 7 months to close was my personal biggest deal yet (our Avg ARR is $25k) Super pumped. I sell to safety departments who generally report into Legal - meaning contracts and MSAs and ju...
Say congrats!
3
Currently have a contract out for signing on the last day of the FY
Question
3
How many deals you trying to close before EOFY?
+59
BCD , Β  NoSuperhero , Β  BallerOfTheYear Β  and 59 people voted
*Voting in this poll no longer yields commission.
5
Are your comms paid on MRR rather than annual contract value?
Question
14