The Thomson Reuters Tax Pros Guide to Renewals

Log your notes in Salesforce · 2023-04-27T17:58:13Z

Here's a guide to ensure retention and renewal: Customers can’t decipher their invoices, so they don’t know what they’re canceling when they cancel. People are afraid of losing content or software and maybe a good price, so they just auto renew every year. Play off of this fear to ensure renewal and ARR stay high. If option one doesn't work, turn to BP. Although he's in retirement, he now supplements his stock options and social security with a for-hire stable of henchmen that will go out and cajole customers that cancel and spread dirty rumors at industry conferences about customers daring to leave TR. A combination of the two approaches will result in 99% renewal rates.

Here's a guide to ensure retention and renewal:

Customers can’t decipher their invoices, so they don’t know what they’re canceling when they cancel. People are afraid of losing content or software and maybe a good price, so they just auto renew every year. Play off of this fear to ensure renewal and ARR stay high.

If option one doesn't work, turn to BP. Although he's in retirement, he now supplements his stock options and social security with a for-hire stable of henchmen that will go out and cajole customers that cancel and spread dirty rumors at industry conferences about customers daring to leave TR.

A combination of the two approaches will result in 99% renewal rates.

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I’m in renewals and this is a d-mb take depending on your BU. Our renewals have the expiration date and cost. Cancel policy is online. The customer can email me anytime if they don’t want a call to talk about it. It’s not rocket science and we used to get good renewals because the products were actually good. This is the first year I’m nervous in a long time.

I'm gone from Thomson Reuters Tax & Accounting, but still in the tax and accounting business. Some of what you say is very true, such as they can't decipher invoices. Issue is, these are CPA's and they are actively looking to dump TR. At some point they will bite the bullet on re-training/learning new software and jump. There is nothing that will bring them back.

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The Thomson Reuters Tax Pros Guide to Renewals

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