HarryCaray profile picture
HarryCaray profile picture

HarryCaray

HMFIC

Notable Contributor
Notorious Answer
Celebrated Contributor
+12

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?

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16 comments

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CoorsKing
WR Officer
2
Retired 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...ย 
HarryCaray
Notable Contributor
1
HMFIC
A peer of mine here is awesome at getting a customer to renew early.ย  I've gotta figure out how to get that done.
Beans
Big Shot
2
Enterprise 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
1
HMFIC
@Beansย you gonna hit the upvote on these posts??ย  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
Big Shot
2
Enterprise Account Executive
Fair play.ย 

I'll run through.
HarryCaray
Notable Contributor
1
HMFIC
A true Savage, thank you!!
Selichimorpha
Celebrated Contributor
1
Growth Executive
We renew around 6 months out, Auto renewal hits at 60 days - our contract lengths are around 12 months.ย 
HarryCaray
Notable Contributor
0
HMFIC
Do you all have contract language for incremental price increase at auto renewal?
Selichimorpha
Celebrated Contributor
1
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.ย ย 
CuriousFox
WR Officer
1
๐ŸฆŠ
6 months out is a sweet spot.
HarryCaray
Notable Contributor
1
HMFIC
That's what I do too generally
wHaTyAgOtCoOkInG
Catalyst
1
Solution Consultant
depends on quite a few factors, but if you get incentives on early renewals, always work to your incentives
HarryCaray
Notable Contributor
0
HMFIC
Good call.ย  Need to push some incentives to get these done earlier
Soiboi
Politicker
0
Account Executive, EIAS/Compliance
Typically hit 3 MO and send it our for reviewal since I meet with them quarterly anyway it works out.ย 
HarryCaray
Notable Contributor
1
HMFIC
definitely helps if you're in constant contact with them.
MR.StretchISR
Politicker
0
ISR
Cheers! Carry that momentum into Q2 after knocking back a few this weekend!

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