I was chatting with some founders about how they were managing renewals in this climate. With permission, I’m sharing the tactics we discussed. Feel free to forward these to sales/marketing leaders or others who’ll find this useful. The co-marketing efforts make customers think of you as a strategic partner and they become more invested in your success. Customers now would want to make the relationship work instead of looking at other options.
If users see a continuous benefit because they actually use your product, they will be LIFERS.
The key is making your product an important item in their life. Best examples are utility services (water, power, trash) and phone. If you can make your product/service like a phone, you'll be able to lock them in.
The other strategies (annual contract, etc) are of course valid as well, but it always comes back to the necessity of the service.
If users see a continuous benefit because they actually use your product, they will be LIFERS.
The key is making your product an important item in their life. Best examples are utility services (water, power, trash) and phone. If you can make your product/service like a phone, you'll be able to lock them in.
The other strategies (annual contract, etc) are of course valid as well, but it always comes back to the necessity of the service.