Enhancing The Renewal
Renewals can either be order taking or evaluating the sales opportunity. It matters when considering whether the customer is ready to move up the sales escalator.
Too often, the sales rep doesn’t want to scare off the customer. They know that they have their money. They know that they are making the sale. Why bother asking about expanding the piece of business, because it might cause the customer to deny the entire renewal order?
This is a defeatist ploy that isn’t grounded in reality. Often, the customer doesn’t know they don’t know. They may not know that there is a better, higher level of buying to be had. The money maybe sitting in their bank accounts, waiting to be used, yet isn’t because the sales rep refuses to ask.
When a sales rep becomes scared to lose a renewal, they often hinder the amount of service that can provided to the customer. And eventually, that renewal will become stale and be refused in future transactions.
The reason the renewal exists in the first place is that the customer likes the product and the service. It is a chance to show them why buying at a greater price, volume, or level will increase the amount of product and service that they can achieve.