The Best Way to Sabotage Your Renewals

Treating your customers like an ATM, only showing up when you need cash, is a sure-fire way to lose their renewals. Let’s break the cycle of transactional check-ins…

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Let’s talk about a huge mistake that I see with customer retention.
And that is that we expect a customer to be retained or renewed when we only pay attention to the renewal or talking to the customer when we have something new to sell them.
I mean, think about how the customer must feel.
Oh, you only think about me as a walking PO or a walking wallet.
Wow. You only come around here when you’ve got money that you want me to spend.
That’s not adding much value, right? So what is your customer health check plan? You should be engaging whether you’re a sales rep in charge of maintaining customers or customer success, or customer service professional or retention specialist.
You need to be thinking about a monthly plan to engage with your customer, showing them value for all of the year, not just when the renewal comes up.
Or not just when there’s a new product that you can position.
You know there is a marketing statistic that says every month that your customer goes without meaningful contact from you, they erode their value by 10%.
So that means that if you go the whole year and just wait until, you know, two months before the annual renewal comes up to renew with them, they’ve eroded It’s a huge risk that they’ll even renew.
So start thinking about your customers in terms of monthly value touchpoints.
Create an action plan that puts you in front of your customer through email or meetings or video or phone calls on a regular basis so the renewal or the upsell comes naturally.

Don’t forget to check out: Make Your CRM Irresistible”!

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