How to handle renewals in your deal pipeline - Best Practices and Pro Tips

Dan1 · ‎dez 28, 2017

Earlier this year I posted this question to the community and had some great help from many Hubspot Pro's. I wanted to give back to the Hubspot community and pass on the knowledge to other new Hubspot CRM users.

So I put together a 2 minute video to show the renewal pipeline we created and use based on the feedback gathered. We run a B2B SaaS business with annual contracts, so it is specific to our requirements, however, hopefully, it will provide some ideas and a basis for a renewal deal pipeline setup.

If anyone has any further suggestions then please share on this post so that we can build some best practices around this topic.

All the best,

Dan

www.orgcharthub.com

Dan1 · ‎abr 7, 2018

Hi @dleitch,

When the deal is won for the renewal, the cycle starts again and we rename the deal with "2nd year" tagged onto the end. It's helpful having all the renewal deals (1st, 2nd, 3rd year etc) in one pipeline as you can see the renewal amounts for each quarter very easily.

I hope this helps,

Dan

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louischausse · ‎jan 29, 2020

Your solution is awesome, but will only work if your contract always has the same term length.

For businesses working with variable contract end dates, that won't do the trick.

That's why we've built a Recipe to handle that. A Recipe is a small process that you can install in your HubSpot portal. This doesn't require any third-party tool.

Here's a video of how it works:

Watch the video!

Renewal deals are created automatically for each closed-won deals with a known contract end date. Then, a task is generated with a reminder date XX days before that contract end date to notify the deal owner (or another user of your choice) that the renewal is coming soon.

Other settings and configurations are also available to suit your use case.

If you are interested, we can have a chat to setup this recipe on your HubSpot portal.

Learn more here

Louis Chaussé from Auxilio HubSpot Solutions Partner Signature

Louis Chaussé from Auxilio HubSpot Solutions Partner Meeting link

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dleitch · ‎fev 15, 2018

Hi Dan1,

Thanks for sharing. Just a quick question. For the year 2 renewal, is there a 3rd pipeline or does it just start over in the same renewal pipline as year 1? Also, do you think the renewal process you have setup would work for additional years (i.e. 3, 4, 5, etc.)?

Thanks!

Dan1 · ‎abr 7, 2018

Hi @dleitch,

When the deal is won for the renewal, the cycle starts again and we rename the deal with "2nd year" tagged onto the end. It's helpful having all the renewal deals (1st, 2nd, 3rd year etc) in one pipeline as you can see the renewal amounts for each quarter very easily.

I hope this helps,

Dan

BigVaibhav · ‎nov 3, 2023

Hi @Dan1,

We usually have multi year deals, and it get's really clumsy with so many renewal deals.

We tried this, and it worked wonders.

Thanks,

Vaibhav

JAnderson5 · ‎jun 7, 2021

This is so helpful! Thank you so much.

louischausse · ‎nov 28, 2019

Your solution work if you have contracts with standard duration (i.e. 1 year) and the deal close date is the same date as the start date of the contract.

Here's my current situation:

What if a deal can be renewed in advance for a new contract start date in the future and the contract term is always different from one customer to another?

Any thoughts?

roisinkirby · ‎jan 4, 2018

Terrific - thanks for sharing @Dan1

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