Renewals during COVID
For mid-term contracts, 6+ months away, hold off on making any contract changes right now.
If customer needs flexibility on an upcoming payment, consider moving from annual --> semi-annual, quarterly or monthly payments for a period of time.
For near-term renewals, provide a 15-month renewal and flexibility on next payment. Drawback is that this could appear to cause a drop in ARR (revenue recognition over 15 months instead of 12). Track that as a separate bucket from downsells or cancels.
Add a triage process to validate needs (vs. wants / opportunism). Doing this custom for each customer that asks is going to get time-consuming and painful.
In general, seems like folks are also avoiding blanket discounts.
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