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Renewal Deal

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A renewal deal is similar to an expansion deal. It refers to an arrangement where a brand’s existing customer agrees to continue their subscription or service agreement with a brand after the initial contract term has expired. 

This is a common practice in industries that operate on a subscription or recurring revenue model, such as those in the Software-as-a-Service (SaaS) space. Renewal deals are important for brands because they represent a continuation of the revenue stream from existing customers, often with lower sales and marketing costs than acquiring new customers.

Renewal Selling
Source: CSM Practice

An Approach to Deal Renewals:

https://www.youtube.com/watch?v=Ekkpq2P9e3U