Deal RENEWALS stuff
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      3. Deal RENEWALS stuff

      Renewals Pipeline [Overview]

      The "Renewals pipeline" is where we visualize and track the process of renewing - and possibly up-selling products to - existing clients.

      Inside the Renewals pipeline are "deals" - and each deal consists of a collection of data (information) gathered over time (as the deal develops). This information includes:

      • Contacts (the client-side people we are working with to gain the renewal)
      • Entities (the radio stations involved in the renewal, the entities that are licensing our product)
      • Communications with contacts (emails) and manual notes (added when meaningful / relevant)
      • Contract terms (agreement length, payment type, products licensed, start/end date, etc.)
      • Contract (the signed legal document; gets added when the deal is "won")

      Deals move through "stages" in the Renewals pipeline, and in each stage contains corresponding "tasks" that must be completed (before the deal can move on to the next stage).  These stages and tasks add clarity to "who" is responsible for "what" and "when" (in the Renewal process), and bring transparency to the "current status" of every renewal deal.

      Stages include:

      • Upcoming Renewals
      • Renewal Prep
      • Client Outreach
      • Negotiation
      • Contract Creation
      • Contract Sent
      • Won

      Below is an outline of the stages, the tasks and responsibilities involved in the Renewals pipeline.

      Stage 1: Upcoming Renewals (Nia)

      A deal enters and remains in this stage of the Renewals Pipeline until its "contract end date" is within 270 days.   

      Responsibilities & Tasks

      • [MIKE M.] When a deal enters this stage, Mike M. gets a task assigned to "Update end dates in admin"
      • [NIA] Monitors "Upcoming Renewals" smart list for Deals approaching the 270 day window & updates stage to "Renewal Prep" (when deal falls within window)


      Stage 2: Renewal Prep (Nia)

      In this stage Nia prepares the new (upcoming) renewal deal and ensures the current (soon to expire) renewal deal is properly archived.

      Responsibilities & Tasks [9 months out]

      • [NIA] Clones original deal, names new deal ("Company Name - Market") and edits certain deal terms including:
        • Owner (changes to appropriate CSM)
        • Projected Close Date (removes)
        • Has Rocco signed the contract? (make "blank")
        • Has Antonio reviewed? (make "blank")
        • Deal stage (changes to "Client Outreach")
      • [NIA] Moves original deal to the "Archive" pipeline, "Pending Renewal" stage


      Stage 3: Client Outreach (CSM)

      In this stage the deal owner (the Customer Success Manager) communicates with client contact(s) in an effort to gauge satisfaction level and needs / opportunities with the client.

      Responsibilities & Tasks [7-9 months out]

      • [MIKE E.] Sends "Initial Renewal Outreach w/ Survey" email template to deal contact(s) & end
      • Over the next 30 days [CSM] / [MIKE E.] denotes outcomes of outreach as notes in contact / deal records
      • [SALES + CSM + NIA] Discuss in weekly meeting
      • Only after discussing in a live meeting or via email communication --> [CSM] Sends "Introduction to Nia" email template and CC's Nia on the email
      • Don't forget: [CSM] Changes deal stage to "Negotiation"


      Stage 4: Negotiation (Nia)

      Nia has been introduced and now works to determine whether or not the client will: renew their contract, add more products, add more radio stations.

      Responsibilities & Tasks [5.5-7 months out]

      • [Nia] Sends email to deal contacts using "Renewal Outreach after CSM Intro" email template
      • [Nia] Denotes outcome(s) of outreach as notes in deal, time for Rachel to review


      Stage 5: Deal Review (Rachel & Nia)

      Rachel reviews the Deal information and either approves for contract creation OR the Deal is discussed more deeply in a standing/TBD/weekly CS meeting.

      Responsibilities & Tasks [5.5-7 months out]

      • [Rachel/Nia] Add note that gives Nia clear direction, update deal stage to "Contract Creation" 


      Stage 6: Contract Creation (Nia)

      Using the renewal terms and other information, Nia creates and sends the contract. 

      Responsibilities & Tasks [5-5.5 months out]

      • [Nia] Updates deal "fields" based on terms noted in Deal (from Stage 5 review w/ Rachel)
      • [Nia] Creates contract, configures Docusign, sends to client
      • [Nia] Updates deal stage to "Contract Sent"


      Stage 7: Contract Sent (CSM)

      The CSM is responsible for the return of a signed contract prior to the end date of the current deal.

      Responsibilities & Tasks [5 months out]

      • [CSM] Uses "Contract Follow-Up" email template to nudge client to return the signed contract 
      • [CSM] Receives signed contract, changes stage to "Deal Won"


      Stage 8: Deal Won (Multiple people involved)

      With the return of a signed contract the deal is "won."  The final steps are countersignature from Rocco, review of the deal by Antonio and adding the fully executed contract to the deal. 

      Responsibilities & Tasks [4 months out]

      • [Nia] Adds fully executed contract to the deal
      • [Rocco] Notes the date he signed the contract in the "Date Signed (by Rocco)" Deal field
      • [Antonio] Reviews deal information (for Cash deals), notes date in Deal dropdown
      • [Nia] When Rocco & Antonio tasks are complete, change stage to "Upcoming Renewals"