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What are effective ways to personalize a sales contract renewal or upsell offer?

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Renewing or upselling a sales contract is a great opportunity to increase customer loyalty, revenue, and value. However, it can also be a challenging process that requires careful preparation, communication, and personalization. In this article, you will learn some effective ways to personalize a sales contract renewal or upsell offer that can help you close more deals and delight your customers.

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1 Know your customer

The first step to personalize a sales contract renewal or upsell offer is to know your customer well. This means understanding their goals, challenges, needs, preferences, and feedback. You can use various sources of information, such as CRM data, surveys, testimonials, case studies, and social media, to gather insights about your customer. Then, you can use these insights to tailor your offer to their specific situation, pain points, and desired outcomes.

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??Janet Efere Sales Expert

Global Sales Training Manager
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Obviously you could just talk to them which isn't mentioned in the summary! Ask questions to understand their priorities, listen carefully and make sure you address these.

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2 Segment your customer base

The second step to personalize a sales contract renewal or upsell offer is to segment your customer base into different groups based on relevant criteria. For example, you can segment your customers by industry, size, location, contract duration, usage, satisfaction, or potential. By segmenting your customers, you can create more targeted and relevant offers that appeal to each group's needs and interests. You can also use segmentation to prioritize your most valuable and loyal customers and offer them more incentives and benefits.

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??Janet Efere Sales Expert

Global Sales Training Manager
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I actually don't agree with this. Surely you would have done this BEFORE you get to the upsell or renewal phase? So to me, this is something you would do before starting outreach.

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3 Customize your communication

The third step to personalize a sales contract renewal or upsell offer is to customize your communication with your customer. This means using the right channel, tone, language, and timing to reach out to your customer and present your offer. You can also use personalization tokens, such as the customer's name, company, or product, to make your communication more human and engaging. Additionally, you can use storytelling, testimonials, or case studies to show how your offer can help your customer achieve their goals and solve their problems.

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??Janet Efere Sales Expert

Global Sales Training Manager
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Seriously? 'Personalization tokens'? Alright, again, this starts with talking to them. Some people want to speak with you, some prefer email, some want a formal proposal, yet more a presentation, so ask them what they would prefer. Then in your communication ensure you use customer-centred pronouns (you, your, yours) instead of I, we, us, our. Another tip is to mirror them, so use the words they use in your communication -then they feel like you have really understood them.

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4 Highlight the value and benefits

The fourth step to personalize a sales contract renewal or upsell offer is to highlight the value and benefits of your offer for your customer. This means showing how your offer can help your customer save money, time, or resources, improve their performance, quality, or efficiency, or gain a competitive edge, new opportunities, or access to more features. You can also use comparisons, testimonials, or data to demonstrate the value and benefits of your offer versus the alternatives or the status quo.

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5 Address the objections and risks

The fifth step to personalize a sales contract renewal or upsell offer is to address the objections and risks that your customer might have. This means anticipating and answering the common questions, concerns, or doubts that your customer might raise about your offer. You can also use guarantees, testimonials, or data to reassure your customer that your offer is reliable, trustworthy, and worth it. Furthermore, you can use urgency, scarcity, or exclusivity to create a sense of FOMO (fear of missing out) and motivate your customer to act quickly.

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6 Follow up and nurture

The sixth and final step to personalize a sales contract renewal or upsell offer is to follow up and nurture your customer until they sign the deal. This means keeping in touch with your customer, providing them with relevant information, resources, or support, and reminding them of the value and benefits of your offer. You can also use automation, personalization, or gamification to make your follow-up and nurturing more efficient and effective. Moreover, you can use feedback, referrals, or reviews to enhance your relationship and loyalty with your customer.

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??Janet Efere Sales Expert

Global Sales Training Manager
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I find in this incredibly noisy world we inhabit, doing something nobody else does makes you stand out. So if everyone else is messaging, make a phone call. If everyone else is emailing, send a video. If everyone else is automating, use the personal touch and send a handwritten note. Then you stand out much better!

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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?

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Louie Bernstein

LinkedIn Top Voice helping bootstrapped Founders, Startups to $5 Million, grow profitably. Fractional Sales Management and Coaching help. I know. I've been where you are. -> INC 500 Winner <- DM for an introductory call.
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First, start the renewal or upsell process with a phone call from your CEO thanking them for being a customer. Then, have the CEO ask how your company could best serve them going forward. Nobody wants to feel taken for granted. This puts that feeling to rest. And coming from the CEO is an ego boost and greatly enhances your chances for success. As a bonus, you might find out things that can help you with other customers.

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What are effective ways to personalize a sales contract renewal or upsell offer?

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3

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1 Know your customer

2 Segment your customer base

3 Customize your communication

4 Highlight the value and benefits

5 Address the objections and risks

6 Follow up and nurture

7 Here’s what else to consider

Sales

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What are effective ways to personalize a sales contract renewal or upsell offer?

1

2

3

4

5

6

7

1 Know your customer

2 Segment your customer base

3 Customize your communication

4 Highlight the value and benefits

5 Address the objections and risks

6 Follow up and nurture

7 Here’s what else to consider

Sales

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