Renewal
A decision by the customer to continue usage of your product at the end of the current contract. At renewal, the contract value may stay the same (stall); increase via upsell, cross-sell, higher tier subscription; or reduce through downgrades.
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THE TRUTH: A Customer decides whether or not to renew several months before the actual discussion and contract end date. To get ahead, subtly start the conversation at least 90 days before the date, to pick signals on the direction the customer will go. This is where you seek answer one critical question "Has the customer achieved value from the current solution?" If the answer is no, the decision is already made before month twelve.