How do you follow up with your strategic partners after sending the renewal letter?

2 Be personal and professional

When you follow up with your partners, you should use a personal and professional tone that reflects your relationship and the value of your partnership. You should address them by name, thank them for their collaboration, and remind them of the benefits and outcomes of your partnership. You should also acknowledge any challenges or issues that may have arisen during the partnership and how you resolved them. Avoid using generic or templated messages that may sound impersonal or insincere.

3 Ask for feedback and objections

One of the main goals of following up with your partners is to get their feedback and address any objections they may have about renewing their partnership. You should ask them if they have any questions or concerns about the renewal letter, the terms and conditions, the goals and expectations, or the value proposition of your partnership. You should also ask them if they are satisfied with the partnership and what improvements or changes they would like to see. Listen to their feedback and objections carefully and respond with empathy and evidence.

4 Provide incentives and urgency

Another goal of following up with your partners is to provide incentives and urgency for them to renew their partnership. You should highlight the benefits and opportunities of continuing your collaboration, such as access to new markets, customers, or resources, increased brand awareness or reputation, or enhanced innovation or efficiency. You should also create a sense of urgency by emphasizing the deadline, the limited availability, or the competitive advantage of your partnership. You can also offer discounts, bonuses, or other perks for early or long-term renewal.

5 Confirm and celebrate

Once your partners agree to renew their partnership, you should confirm and celebrate their decision. You should send them a confirmation email or letter that summarizes the key points of the renewal agreement, such as the duration, scope, roles, responsibilities, and deliverables. You should also express your gratitude and appreciation for their trust and loyalty, and invite them to celebrate the renewal with you. You can send them a thank-you card, a gift basket, or a testimonial request, or arrange a meeting, a webinar, or a social event to celebrate your partnership.

6 Keep in touch

After you renew your partnership, you should keep in touch with your partners regularly to maintain and strengthen your relationship. You should communicate with them frequently and transparently, update them on the progress and results of your partnership, and solicit their feedback and input. You should also look for ways to add value and support to your partners, such as sharing relevant information, resources, or referrals, or introducing them to other potential partners or opportunities. By keeping in touch with your partners, you can ensure their satisfaction and retention, and prepare for the next renewal cycle.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?