Sales Tips From One of the the Top Sports Training and Consulting Companies- 
Altitude Premium Consulting

BennettTIPS
Weekly Sales Training Tips From Greg Bennett of Altitude Premium Consulting  
a Kroenke Sports Enterprises 
Partner Organization 

Art of Renewing a Client

Segment 1: Mistakes Salespeople Make in Renewing a Client

Segment 2:
Renewal Strategies for Before the Initial Sale

Segment 3:
Renewal Strategies for During the Engagement

Segment 4:
Saving a Client Relationship After You Hear, "I Want Out"

Past Training Tips

Non-Verbal Communication

Negotiation Strategies That Win

Merged Selling

The Art of Renewing a Client 

Time Maximization Strategies

The Art of Renewing a Client

How to Get Clients to Stay Engaged With
Your Organization Year After Year

-By Greg Bennett

Segment Two:  Renewal Strategies for Before the Initial Sale

We continue our series on The Art of Renewing a Client by addressing an area most people don't think about when discussing renewals, and that is what happens BEFORE the sale is initially made.  In my opinion, this is where we can really start to separate ourselves from the competition, since most other sellers don't think about long-term relationships, only one-night stands.

First of all we need to revise how we think about the whole concept of a "renewal strategy"; a renewal strategy is describing the process from our perspective, as the salesperson, but to a client, the word "renewal" isn't very exciting. In fact, the thought of "renewing" can be rather threatening to the client, given the fact that most people really don't like to be "sold" in the first place.  So instead of the phrase "renewal strategy", let's think more from the client's perspective and call it a "customer maximization strategy". 

While we're "renewing the account"...the client is more interested in "maximizing their investment".

In this segment we're going to discuss what we should be doing BEFORE the initial sale to highlight our "customer maximization strategy" (to us, our "renewal strategy") and then we'll review a checklist for developing your own renewal/maximization process.  I strongly suggest you take the time and effort to make this process as tangible and real as possible and not just leave it in the "good idea" stage.

Why Talk About Renewal/Maximization BEFORE the Initial Sale?

• Sales is all about reducing the risk for the client, and a great way to reduce the risk is to clearly define how you're going to be there for them after the sale is engaged. 
   

• It will separate you from the competition...competition that won't have any such post-buy process to speak of.
   

• It sets the expectation in the client's mind that this is not designed to be a one-time-only "fling" if you will...we're looking for a long-term commitment and relationship.

How We Can Start to Highlight Our Renewal/Maximization Strategy Before the Sale:

• Have your post-buy program printed out and ready to share with the client as you're presenting to him

  • You:  "Bob, I'd like to review what we call our 'maximization program', basically we schedule at least 4 follow-up conferences with you and your key people during the year to make sure the program is on track and meeting your needs.  I'd like to schedule those meetings today..."  (a good Mini-Step closing line actually)
     

• Instead of just setting up a meeting, we'll want to flush-out what we'll be doing, or reviewing, in those meetings...the more specific the better.  Think about a maintenance contract on a car...the more specific they can be about what will be checked and monitored, the more perceived value there is in the program (thus reducing the risk when considering whether to buy or not)
   

• Develop case studies that highlight long-term clients who've been with you for an extended period of time...see if you can get these clients to share why they've decided to renew and how they've maximized their investment with your assistance

 Okay now it's time to do some tangible work on your renewal/maximization program. Below is a checklist to follow to help get you started...obviously there are no "rules", you can make this as elaborate or simple as you like, containing whatever information you feel like including.

Checklist for Developing a Renewal/Maximization Program:

• You'll need to create an initial "Inventory Maximization Check-list" of suggested steps the client should take.   This check-list should contain the following (example given for a pro sports team):

  • Rating games for the entire season -- based on opponent, day of the week, etc.

  • Match your key clients and key prospects to these games

  • Put out a "Goals for Using Our Tickets" information sheet to your sales and marketing people (and anyone else using the tickets), letting them know how and when to invite clients and prospects

  • Develop an easy to manage process for requesting tickets and getting them into people's hands

  • These steps can be adapted to any industry...basically these are action steps the client needs to take to "implement" the program
     

• I suggest that you do an initial "program instillation" with the client where we help them get the maximization program in place. This instillation basically goes over the strategies contained in the check-list and gets the client moving in the right direction. This check-list and installation can be done with the client over the phone, or face-to-face (depending on the size of the account).
   

• Decide how many "check-in" update meetings you need to do each year... 3?  4?  More?  The larger the account the more contact you may need.  These meetings should be called something, like -- "Maximization Reviews", where we check in to make sure the program is on track, and to flush out "issues"
   

• You should establish the questions you would ask a client during these meetings, and put these questions in writing...remember, don't make the questions too much like "visiting questions" ("how is it going?") and more probing in nature ("what parts of the program are really working well?" "what areas of the program would you like improve on?") 
   

In the next segment we'll review renewal/maximization strategies for during and after the engagement, including how to deal with issues the client may be having

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Greg Bennett, a partner in the innovative brand expansion and consulting organization, Altitude Premium Consulting,  LLC, has been one of the top sales and sales management trainers in professional sports and entertainment since 1988.  He has created and delivered training programs for over 80+ professional sports teams and leagues, along with several Fortune 500 companies.   Altitude Premium Consulting provides training as well as the creation of premium-branded goods for pro sports teams, entertainment companies and corporate sponsors, and is in a partnership relationship with Kroenke Sports Enterprises, owners of the Denver Nuggets, Colorado Avalanche, Pepsi Center, the Colorado Mammoth and several other sports and entertainment entities throughout the United States.  Bennett can be reached at (303) 405-6110, or you can email Greg directly at gbennett@pepsicenter.com .