Article | June 19, 2018

Don't Miss The Low-Hanging Fruit—Five Best Practices For SaaS Renewals

Source: SaaSOptics

By Clayton Whitfield

Grapes.jpg

You’ve worked hard to acquire your customers, but holding onto them through multiple renewal cycles is really the key to subscription business success. Many SaaS businesses rely on auto-renewals to support the business. This is integral to the subscription business model, but it doesn’t mean you can kick back and relax. Common pitfalls related to renewals include:

  • A lack of data or bad data which prevents you from seeing accurate renewal rates.
  • Relying on untrained non-sales staff to handle renewals.
  • Poor processes (based on the above) that result in customer contracts expiring without a sales call.
  • Absence of knowledge about the best way to engage renewing subscribers.

Best practices for managing SaaS renewals actually goes back to the beginning of the relationship.