In order to accurately track your upcoming renewals, you'll want to automate the movement of renewal deals in your pipeline.
This way, you'll always be able to see which customers are approaching their upcoming renewal date.
The best part about managing renewals in HubSpot deal pipelines is you can easily apply the same reporting and forecasting principles to renewal revenue as you do initial sales.
Now that we have a defined process for managing our renewals, we can also use the structured data about the status and time to renewal for an account to drive our internal renewal preparation and customer engagement. For example:
Investing in a robust process for driving revenue after the initial sale will help reduce churn, increase expansion and as a result lead to ever increasing net revenue retention.
Not sure where to start? Download the 7 playbooks you need to scale across the customer journey.