How should CSMs prepare for an upcoming renewal discussion?

Preparing for a renewal discussion is a critical task for Customer Success Managers (CSMs), as it helps ensure successful outcomes for both the customer and the company. The correct approach involves reviewing the customer's history and preparing for potential objections.

By examining the customer's past engagements, their usage patterns, and any challenges they may have faced, CSMs can tailor their discussions to the unique context of each customer. This knowledge allows the CSM to acknowledge previous successes, address any concerns proactively, and highlight the value delivered over the term of the contract. It also prepares the CSM for any objections that might arise during the renewal negotiation, allowing them to respond effectively and reinforce the relationship with the customer.

Additionally, understanding historical data can uncover trends that may indicate the customer’s satisfaction and likelihood of renewal or churn, enabling CSMs to strategize accordingly. This approach fosters a collaborative and transparent renewal conversation, ultimately leading to better customer outcomes and retention.