The agreement expired in March, and nobody called until June

What’s inside

• Measuring renewal rates

  Renewals, lapses and cancellations counted by month and by agreement type.

• The renewal calendar

  Contacting customers on a schedule well before expiry, with one named person responsible.

• The renewal visit

  Using the last visit of the term to review the equipment, the service delivered and the renewal itself.

• Automatic renewal and notice

  Renewal terms that are clear and disclosed, set up with counsel, and a reminder the customer receives before any charge.

• Winning back lapsed customers

  Reaching customers whose agreements ended, with a genuine reason to return.

• What a renewal is worth

  The value of a renewing customer in agreement margin and repair work, compared with the cost of finding a new one.

The measure it works from

Measure

Margin per agreement per year

Which means

What an agreement brought in over its year, less the technician time, drive time, parts, consumables, covered repairs and office time it actually used.

Compared against

The agreement price set on the day it was sold.

Every figure in the document is illustrative, produced by one internally consistent model, and the document says so on its own cover.

The Renewal Window