A real renewal strategy backed by artifacts that you can use today. Learn how to increase your renewal rates and decrease churn using our proven templates.

Bonus Material: Renewal Excel Playbook

**This strategy is not for all SaaS companies.**
**It is designed for Customer Success leaders who want consistent AND scalable retention.**
**In fact, it’s the exact strategy we use to increase retention for all of our customers.**

Bonus Material: Free Renewal Template

Need help increasing your company’s renewals?

Say goodbye to the hassle of customer renewals and let Infinite Renewal’s Renewal Playbook Template do the waiting for you. We have a proven template created by experts that can help you increase your customer retention rates in no time.

This is the same template our client Niamh used to saved months training her CS leaders

Today, I am going to show you EXACTLY how to build out your renewal process.

It’s the same one that we use to help our customers dramatically increase retention rates. In fact, it’s almost the exact same one we used to decrease churn by 28%! We obviously have to customize it for customers, but the core elements will remain the same.

Many people write about the importance of playbooks, but they never actually show you how to do it step-by-step.

With this playbook, you won’t have to worry about lost customers or missed opportunities ever again. You’ll be able to streamline your processes for increased efficiency and success every time.

Read on to create your renewal process and scale your customers from a defined process proven to work.

The Infinite Renewals Renewal Template (no CSP needed)

How do I get lower churn?

You do it by articulating value all through the year, and then use this renewal process. Whether you have a CSP like ChurnZero, Planhat, or Gainsight, or you have workflow processes in Salesforce or Monday.com, or even Google Sheets, it will all work. (Note: we do not recommend Google Sheets due to lack of automation and triggers).

Defining the customer user journey for renewals is a crucial aspect of business strategy, and its importance cannot be overstated. It provides a roadmap for customer engagement, retention, and renewal.

• Understanding Customer Behavior

The customer journey illuminates the path your customers take from initial contact to renewal. It details every interaction they have with your product or service. This understanding allows businesses to tailor their offerings and communications to match customer needs and preferences at each stage, increasing the likelihood of renewals.

• Predicting and Addressing Issues

Mapping out the customer journey can reveal potential obstacles or pain points that might lead to customer churn. By proactively addressing these issues, businesses can enhance the customer experience, thereby promoting customer loyalty and encouraging renewals.

• Personalization

A well-defined customer journey enables businesses to personalize their interactions with customers. Personalization can significantly improve the customer experience, leading to higher customer satisfaction and an increased likelihood of renewals.

• Data-Driven Decision-Making

Customer journey mapping helps businesses make informed decisions based on data rather than assumptions. This approach can lead to improved products or services, more effective marketing strategies, and, ultimately, more renewals.

Here is what that looks like:

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When you have outlined all of the touch points from sales through renewal and beyond, it is much easier to plan for expansion and renewals. The opposite of that is having no plans and then hoping you can renew. It's important to take the time upfront to plan for both, so that when you're in the middle of a sales cycle or renewal process, you have everything mapped out already.

This also helps with communication with customers, as they will know what to expect from your business at each stage of their journey with your company. Additionally, you will be able to track the engagement of customers at different stages and use this data to improve your process.

The 4 Steps To Using a Renewal Template To Get Customers to Renew (and Expand) Easily:

There are 4 Phases that you must execute to renew customers effectively:

• Strategy: This is where you initially start to prepare for the renewal, by reviewing: customer history, including health score and usage trends; customer engagement with your company; the joint success plan; and any risk events.

• Value: It’s a fact- customers will not renew if you do not provide value to them. Here is where you reinforce the value the customer received and progress against goals over the last contract term. Data is your friend here.

• Negotiate: This is the stage where you negotiate with your customer to get them the best deal for their renewal.

• Close: It’s time to close the deal.

By following this 4-step process, you will be well-positioned to increase your customer retention rates and make sure customers are happy and satisfied with the deals they receive from you. You will also be able to use your renewal process as a way to measure success and refine it for future engagements. Below is a breakdown of how every part of the strategy works.

One important point: defining exit criteria between each step is crucial.

Bonus: we put together our renewal template that you can use on its own, or input it into your Customer Success Platform. Click here for this Renewal template.

Step 1: Strategy (120 days out)

**In order for you to have an effective renewal process, you need to be informed about all of the logistics of your customers.**
**In the strategy phase, you will:**

• Review Customer data and account health:

The first step is to gather all relevant customer data and review account history trends. This includes usage data, customer feedback, support tickets, interaction history, and any other information that might provide insights into the customer's experience. Since your CSM should be monitoring this and discussing with the customer throughout the year, you’re looking for any recent changes and preparing for the renewal discussion.

Next, the CSM reviews the health of the customer's account for any changes before initiating the renewal discussion. This involves analyzing the collected data to determine how well the customer is utilizing the product or service leading up to the renewal. Key indicators might include frequency of usage, feature adoption, and the resolution of any issues or challenges faced by the customer.

A CSM should also consider the level of recent engagement between the customer and the company and trends over time. This includes the frequency and quality of interactions with customer support, the response to outreach efforts, participation in events or webinars, and overall responsiveness.

Review Joint Success Plan and Status Meeting Notes

A Joint Success Plan (JSP) is a crucial tool for Customer Success Managers (CSMs) in the SaaS (Software as a Service) industry. It serves as a roadmap that outlines the customer's goals, the steps needed to achieve them, and the metrics to measure success.

• A Joint Success Plan (JSP) with a SaaS customer is important for several reasons:

1. Clear Roadmap: A JSP provides a clear and mutually agreed upon roadmap to achieve the customer's goals. It lays out the key steps, milestones, and timelines, offering a transparent framework for collaboration between the SaaS provider and the customer.

2. Aligns Expectations: By defining success metrics and establishing common goals, a JSP helps align expectations between the service provider and the customer. This ensures everyone is working towards the same objectives and reduces potential misunderstandings or conflicts down the line.

3. Enhances Customer Engagement: A JSP fosters deeper customer engagement by involving them in the planning process. This collaborative approach can lead to increased customer satisfaction and loyalty.

4. Reduces Churn: When customers can see a direct correlation between the use of your SaaS product and the achievement of their goals, they are less likely to churn. A JSP helps make this connection clear, thereby contributing to customer retention.

5. Drives Product Adoption: By linking product features and capabilities directly to the customer's goals, a JSP can drive increased product adoption. It helps the customer understand how to best utilize the product to achieve their desired outcomes.

6. Provides Accountability: A JSP sets clear responsibilities and timelines, providing a level of accountability for both parties. It ensures that everyone knows who is responsible for what and when tasks need to be completed.

In order for your renewal to be successful, it is crucial to make sure that the goals set forward in the JSP are achieved.

• Identify Risk Signals:

In this step, the CSM looks for any signs of potential churn. These could include decreased usage, negative feedback, unresolved issues, or changes in the customer's business that could affect their need for the product or service.

Customer satisfaction surveys like Net Promoter Score (NPS) and CSAT are valuable tools for gauging a customer's overall satisfaction with the product or service and the company. Satisfied customers are typically more likely to renew (of course!).

Also, review how their onboarding and implementation experiences were. You should be surveying your users after that critical step. Are you sending surveys after a successful implementation?

External factors like industry trends and market conditions can also impact the likelihood of renewal. For instance, if a customer's business is growing or if similar products in the market are more expensive, the customer may be more likely to renew. Look up the S-1, Crunchbase, LinkedIn, etc.

• Review the Contract

The CSM starts by carefully reviewing the current contract. They need to understand the terms of the existing agreement, including the services provided, pricing, duration, and any special conditions or clauses.

Next, the CSM evaluates whether the terms of the contract have been met. This includes assessing if the customer has received the agreed-upon services and whether the product or service has delivered the expected results and value.

• Forecast

Most companies use a Customer Health Score, which is a metric that combines various data points such as product usage, customer feedback, and support ticket history, among others. A high health score generally suggests a higher likelihood of renewal.

Customer Success Managers (CSMs) have a plethora of data sources at their disposal to calculate customer health scores and predict renewal likelihood. Apart from the commonly used metrics like product usage data, satisfaction surveys, or support tickets, other less conventional yet insightful data sources can also be leveraged.

Quarterly Business Reviews (QBRs): QBRs provide an in-depth understanding of a customer's business goals, challenges, and overall satisfaction with your product or service. They offer a wealth of qualitative data that can be incorporated into a customer's health score. For instance, if a customer expresses concern over the value they're getting from your solution during a QBR, it might indicate a higher churn risk.
Support Tickets: Firstly, the frequency and volume of support tickets can be indicative of a customer's experience with your product. A high number of support tickets might suggest that the customer is experiencing difficulties or frustrations, which could potentially affect their decision to renew. However, it's important to note that a high volume of support tickets isn't necessarily a bad sign. If the issues are being resolved efficiently and the customer is satisfied with the support they're receiving, it could actually strengthen their relationship with your brand.
Net Promoter Score (NPS): NPS is a widely used metric for gauging customer loyalty. Customers are asked how likely they are to recommend your company to others, providing a measure of their overall sentiment towards your brand.
Customer Effort Score (CES): This metric reveals how much effort a customer has to put into getting an issue resolved or a question answered. A high CES might indicate a low likelihood of renewal.
Financial Data: Payment history, contract value, and billing issues can all impact a customer's likelihood to renew. For example, repeated late payments might suggest financial difficulties, which could affect renewal likelihood.
Salesforce or CRM Data: Data from your CRM can give you insights into a customer's engagement with your sales and marketing efforts, which can indicate their overall health.
Customer Training and Onboarding Data: How well a customer understands and uses your product can directly impact their health score. This data can be sourced from training programs, webinars, or onboarding sessions.
Social Media Engagement: Customers who actively engage with your brand on social media platforms are likely more invested in your product or service, which could translate into a higher likelihood of renewal

Remember, the key to an effective customer health score lies in choosing the right combination of data sources that best suit your business model and customer base!

The specifics of the current contract also play an important role in forecasting renewals. Factors such as contract length, pricing, and terms and conditions can all influence the likelihood of renewal.

Once you have a good understanding of the customer's chance to renew, add that sentiment to your system of record. This will most likely be the CRM and/or your Customer Success Platform.

• Automate Auto-renew (if applicable)

1. Identify Customers for Auto-Renewal:

The CSM identifies the segment of low-paying customers that qualify for auto-renewal. This usually involves customers who have a history of regular usage, low support needs, and consistent payments.

2. Set Up Auto-Renewal in the Billing System:

The CSM or billing team sets up the auto-renewal feature in the billing system. This requires customers' agreement to be billed automatically at the end of each billing cycle.

3. Communicate with Customers:

Customers should be notified about the auto-renewal process. This communication should include details about when and how the billing will occur, how they can opt out if needed, and whom to contact for queries. This can be done via automated emails or in-app messages.

CSM - Customer Communication Templates (Email: Auto-renewal Notification 1 - Automated for Low/Tech Touch Segment)

4. Automate Renewal Reminders:

Set up automated reminders to be sent to customers before their renewal date. This gives them an opportunity to cancel the auto-renewal if they wish.

5. Monitor the Process:

Even though the process is automated, it's important for the CSM to monitor it to ensure everything runs smoothly. They should check for failed transactions, unresponsive customers, or any other issues that might arise.

6. Handle Exceptions:

In case of payment failures or disputes, automated workflows can be set up to manage these exceptions. For instance, automated emails can be sent to customers with payment issues, urging them to update their payment information.

7. Post-Renewal Engagement:

After the renewal, send an automated message thanking the customer for their continued business. This is also a good opportunity to share any updates or new features that have been added to the product or service.

CSM - Customer Communication Templates (Email: Auto-renewal Thank You - Automated for Low/Tech Touch Segment)

By using this automated process, a CSM can streamline the renewal process for low-paying customers, freeing up time to focus on higher-value customers and other critical tasks.

Step 2: Value

**Here is a shocking news flash.... Customers will churn if they do not feel they are receiving value from your product.**

Here is another, even crazier fact.. Customers will not renew, even if they are getting value. That is usually because nobody is telling them that they are receiving value. Many people wait until the QBR that they don’t have to find this out.

CSM - Customer Communication Templates (Email: Customer Business Review - Invitation 1)

Confirm and Reinforce Value- Reach out to customers to notify them of upcoming renewals and schedule a "Renewal" meeting with Champion based on need.

CSM - Customer Communication Templates (Email: Renewal Meeting Request 1)

Prepare and run Renewal meeting -

When preparing and running a SaaS renewal meeting, there are several key steps that Customer Success Managers (CSMs) should take to ensure the process is as smooth and effective as possible.

Understand the Customer's Background: Before the meeting, CSMs should delve into the customer's history with the company, their usage patterns, and their overall experience with the product. This includes understanding why they chose your product in the first place and what their decision-making process looks like. Knowing this information will allow CSMs to tailor their approach during the renewal meeting.
Prepare the Renewal Paperwork: Ahead of the meeting, prepare all the necessary renewal paperwork, including any options for expansion or upgrade. This will help streamline the process and show the customer that you value their time.
Schedule the Meeting: Reach out to the business sponsor to schedule the renewal meeting. Make sure to choose a time that works for all parties involved to ensure maximum attendance and engagement.

4. Run the Meeting Like a Sales Meeting: CSMs should treat renewal meetings similarly to sales meetings. Discuss the customer's journey so far, address any issues they've encountered, and outline the benefits they'll continue to receive if they renew their subscription. Make sure you are asking questions, and listening, versus just reading off of slides.

5. Discuss At-Risk Factors: During the meeting, it's essential to discuss what "at-risk" means for the customer and how to monitor it. This will help the customer understand the potential risks associated with not renewing their subscription and how your team can help mitigate those risks.

6. Drive the Right Actions: CSMs need to drive the right actions to close every renewal. This could include offering personalized solutions, addressing specific pain points, or demonstrating the value the customer will gain from renewing their subscription.

7. Follow Up: After the meeting, follow up with the customer to address any remaining questions or concerns they might have. This is also a good time to provide them with any additional information or resources they might need to make their decision.

By following these steps, CSMs can effectively prepare and run a SaaS renewal meeting, increasing the likelihood of securing a renewal and maintaining a strong relationship with the customer.

Schedule internal Renewal Meeting prep as needed (strategic customers, at-risk customers)
Run Renewal Meeting with customer Contact(s)
Agree on contract terms, including upsell, downsell, new growth
Document activity in CRM/CSP.

Step 3: Negotiate

• Prepare contract, internal approval:

In the SaaS B2B landscape, preparing a renewal contract is a critical process that requires meticulous attention to detail and a thorough understanding of both the company's and the customer's needs. Once you've compiled the necessary data and drafted the contract, seek internal approval from key stakeholders within your organization. This ensures alignment across departments, reinforces team cohesion, and guarantees that the proposed terms meet both business and customer success objectives. Remember, a well-prepared renewal contract is more than just a transactional document—it's a testament to your commitment to customer success, backed by data-driven insights and concrete examples of how your product has helped your customers achieve their goals.

• Contract presentation to customer:

In a renewal contract presentation to SaaS B2B customers, it's imperative to underscore the tangible value your product has delivered and how it aligns with their business objectives. Leveraging data-driven insights and limiting industry-specific jargon, illustrate how your solution has enhanced operational efficiency, driven revenue growth, or improved customer experience.

Be sure to include testimonials from other satisfied customers to reinforce your credibility. Highlight any new features or improvements that have been introduced since their last contract, demonstrating your commitment to continuous product enhancement.

Finally, emphasize the importance of team cohesion by detailing how your customer success, sales, and product teams work collaboratively to ensure customer satisfaction and success. This presentation should not only aim to secure the renewal but also to strengthen the partnership between your company and the customer.

• Forecast update:

Don’t forget to update your system and where you are in the process. This is CRITICAL for any business, and can kill your operations if not followed exactly as expected.

Step 4: Close

Contract signed, final forecast - Once the terms are agreed to, make sure to get that contract signed. Don’t make rookie errors, like waiting until the last minute, or sending the contract to the champion when they are out of the office.

Also, make sure to look at the final forecast and confirm that it meets expectations before signing anything. Finally, make sure all details are finalized. These could include access to information, payment terms, deadlines, etc. All of these should be agreed to by both parties before closing out the deal. The devil is in the details.

• Closed/won and systems updated:

Once everything is finalized, make sure to update all of your systems with this new deal. Keep track of the final numbers and follow up with customers for feedback on how they feel about the process. Also keep your team in the loop so that everyone can celebrate a win. This will also help build relationships between you and the customer, which could lead to more business down the

• Send a Thank you email:

Remember how your mom used to nag you to send thank you cards? Uncle Bobby and Auntie Mary ain’t sending checks anymore if you don’t than them!

Send a polite, professional, and personalized email thanking the customer for their business. This will show your appreciation and help you stand out from other companies that may not follow-up after a deal is closed. It can also lead to more referrals and repeat business in the future.

So don’t forget: update systems, keep track of numbers, and thank your customers!

• Advocacy request:

In the SaaS B2B landscape, leveraging customer advocacy is a potent strategy for building credibility and fostering organic growth. As a professional in this realm, it's important to approach your customers with a well-crafted, data-backed proposal. Start by showcasing concrete examples of how your product or service has positively impacted their business operations, emphasizing the metrics that matter most to them. This could include increased efficiency, cost savings, or improved customer satisfaction scores. Then, propose ways they could advocate for your brand, such as providing testimonials, participating in case studies, or speaking at industry events.

Remember, it's crucial to make this process as effortless as possible for your customer, offering support every step of the way. Lastly, express your gratitude for their support and underline how their advocacy not only helps your business but also strengthens their standing within the industry, creating a mutually beneficial partnership.

Also, keep track of how often you ask them for help! You should not be flooding them for advocacy requests, calls with prospects, and othe activities. Customers who find themselves constantly bombarded with requests will be less likely to engage and more inclined to disengage. Instead, set up a clear timeline of when you’ll reach out and how frequently. This way, they know what to expect and can plan accordingly while still sharing their passion for your brand!

Good luck!

Now You Try It!

If you made it this far, THANK YOU. The above is a tried and true process. We have used this specific strategy for many years, and the details matter.

Take this strategy and make it your own. Download our template. If you need our help, reach out to us.

Want to see what a successful renewal process looks like? Don’t forget to download the renewal template here

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