“Have we proven ourselves well enough to win a renewal of this multi-year contract? If not, where are we dropping the ball, and how can we turn things around?”
This supplier worked on-site with a customer in an unfamiliar industry. Not only were they sincerely interested in earning renewal of their $10 million annual contract, they wanted to be viewed as ready to approach other prospects in that industry.
On the whole, their performance was fine, and progress up the learning curve was applauded as swift. However, there was a laundry list of details they had to get right before renewal was secured.
My client took their customer’s suggestions to heart. They had overlooked the importance of some of the “laundry list” issues because they didn’t understand the regulatory requirements in that industry.
The contract extension was signed, and they received hearty praise during reference checks from prospects.
This project’s objectives
Minimize the revenue risk of account defections
Secure customer retention
On-site outsourced services, $10 million annual services contract for a $800 million national services firm