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Wednesday, October 29, 2008

Focus On Renewals After the Sale

Wednesday, October 29, 2008

There have been times when my marketing colleagues sit in a room and discuss current customers who have subscribed to a service - wondering how to get them to renew. Unfortunately, this is the wrong conversation to have.

The best time to renew a client is from the first day after a sale. You need to provide evidence of value to your existing customers from day one... not just day's before their service expires. Do you have products or services that must be renewed on a regular b

Think about engagement. Do you engage your customer in a dialog throughout the year? There are a number of tactics for doing so that will help you engage your customer, develop a relationships and prove value.

1. Newsletters or announcements. Each month, give yourself and your company a reason to reach out to your customers with information that's valuable to them. Don't underestimate the power of frequent communication. Be flexible with your content and include opportunities to solicit feedback from your customers.

2. Customer surveys. Ask your customers through an online survey what matters most to them. Show them that their opinion matters. But don't stop there. Once you ask them to complete a survey, college the responses and analyze them. Once you have something meaningful to share, distribute your findings. Customers will see the value your provide and develop more trust in you and your services.

3. Share best practices. Whether it's a white paper, brief, or forum, share information you've learned from you customers and distribute to a larger group. Share these findings in various formats. This shows that you value your customers' time and want to make them successful.

These are just a few of the tactics for communicating the value of your products and services to your customers. When it comes time to renew, you won't have to sell. Your customers will inherently know and feel that value you've provided over the past year.

Remember, the time to renew is now. Don't wait until days before the subscription is about to end to make your first contact. As they say, get out in front of the curve. Over time, this strategy will help you exceed your sales goals and allow you to develop a large following.


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