4.1 Identify the Steps to Perform an End-To-End Renewals Motion with the Customer in Partnership with the Account Team 700-805 Practice Questions (Page 5)

Questions 21–25

1. 21application · medium

   A renewals manager is assigned a large enterprise account with 200+ active contracts expiring over the next 12 months. The account team has historically managed renewals reactively, only engaging customers in the final 30 days before expiry. The renewals manager wants to shift to a proactive motion. What should the renewals manager do FIRST?

   • AWait for the account team to initiate renewal discussions since they own the customer relationship.
   • BSchedule a joint planning session with the account team to review the contract portfolio, identify at-risk accounts, and agree on a prioritized engagement plan.
   • CImmediately send a renewal proposal to all customers with expiring contracts to secure early commitment.
   • DAsk the account team for a list of all customer contacts so the renewals manager can begin direct outreach independently.
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2. 22expert · hard

   A renewal contract has been signed by the customer, but the vendor's internal system shows the order as 'pending' due to a missing approval from a regional manager who is on vacation. The customer expects the renewal to be active immediately. What should the renewals manager do?

   • AAsk the account team to manually override the approval requirement in the system.
   • BContact the regional manager's delegate or escalate to the appropriate authority to obtain the approval, while keeping the customer informed of the status.
   • CTell the customer that the renewal is active even though the order is pending, to avoid disappointment.
   • DWait for the regional manager to return from vacation before taking any action.
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4. 23expert · hard

   A renewals manager is new to an account with a renewal in 6 months. The previous renewals manager left no documentation. The account team is busy with a large new-sale opportunity and has limited time. The customer has a history of late renewals and often requests retroactive coverage. What should the renewals manager do to set up a successful renewals motion?

   • APrioritize a brief but focused discovery session with the account team and the customer to understand the renewal history, current usage, and any outstanding issues, then build a simple renewal plan.
   • BAsk the account team to provide all historical data and then create a comprehensive renewal proposal without customer interaction.
   • CEscalate to management to get more resources assigned to the account because the account team is too busy.
   • DWait until 90 days before expiry to engage, as that is the standard industry timeline for renewals.
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5. 24foundation · easy

   Why is it important to follow up with the customer after a renewal closes?

   • ATo renegotiate the contract
   • BTo confirm satisfaction and identify any issues early
   • CTo verify the customer's payment method
   • DTo request a referral
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6. 25foundation · easy

   What is a common tactic for handling a customer objection about price?

   • AEnd the discussion
   • BReinforce the value and return on investment of the renewal
   • CImmediately offer a discount
   • DIgnore the objection and continue the presentation
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