The contract runs three years. The renewal is decided in week six.
Most retention effort arrives in the final quarter of a contract, long after the customer has quietly made up their mind.
SBy Steve··5 min read
A business with three-year contracts usually has a renewal process that begins somewhere around month thirty. Reminders go into the calendar, an account review is scheduled, someone is asked to build a value story. It feels like diligence. It is often theatre, because by then the outcome has been settled for two and a half years. Plot your churned customers by how long they had been with you when the relationship started to fail, not when the contract formally ended, but when engagement dropped, when the sponsor stopped attending, when…
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Important: General information only. Rialto Bridge articles describe patterns and considerations that may apply to a business; they are not financial, legal, tax or accounting advice, and they take no account of your particular circumstances. Consider your own situation and seek advice from a qualified professional before acting.