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 6)

Questions 26–30

1. 26foundation · easy

   What is the purpose of the final step in the renewals motion?

   • ATo ensure a smooth transition to customer success and confirm satisfaction
   • BTo obtain internal approvals for the renewal contract
   • CTo qualify the renewal opportunity
   • DTo present the renewal proposal to the customer
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2. 27application · medium

   A renewals manager is reviewing a portfolio of accounts and notices that a mid-sized customer has a renewal in 9 months but has not engaged with any support services in the past year. The account team has limited visibility into the customer's current needs. What should the renewals manager do to qualify this renewal opportunity?

   • AAsk the account team to provide a list of all past interactions and use that as the sole basis for qualification.
   • BAssume the customer will renew because they have been a customer for several years.
   • CSchedule a discovery call with the customer and the account team to understand their business priorities, usage patterns, and any challenges they are facing.
   • DSend a renewal proposal immediately to lock in the customer before they consider competitors.
   Reveal Solution Discussion Select an answer first
4. 28application · medium

   During renewal negotiations, a customer states that a competitor offers a similar support plan at a lower price and asks the renewals manager to match it. The account team has confirmed that the customer values the vendor's proactive support and fast response times. What is the best negotiation tactic for the renewals manager?

   • AAgree to match the price but reduce the scope of support to keep margins intact.
   • BAsk the account team to offer a one-time discount to close the deal quickly.
   • CEmphasize the unique value of the vendor's support, such as proactive monitoring and faster resolution, and reinforce the total cost of ownership versus the competitor's offering.
   • DImmediately match the competitor's price to secure the renewal and maintain the relationship.
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5. 29application · medium

   A renewal contract has been signed and the order processed. The account team is already moving on to new opportunities. What should the renewals manager do to ensure a successful post-renewal phase?

   • AArchive the contract documents and close the renewal case in the CRM.
   • BConduct a handoff meeting with customer success to review the renewal terms, customer expectations, and any open action items.
   • CAsk the account team to schedule a quarterly business review to discuss future upsell opportunities.
   • DSend a congratulatory email to the customer and consider the renewal complete.
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6. 30application · medium

   A renewals manager is working on a complex renewal that involves multiple product lines and a customer procurement team that requires detailed contract terms. The account team has deep relationships with the customer's IT leadership. What is the most effective way for the renewals manager to collaborate with the account team?

   • ADefine clear roles: the renewals manager leads the commercial and contract discussions while the account team facilitates executive relationships and provides strategic context.
   • BHave the renewals manager and account team both independently contact the customer to ensure all bases are covered.
   • CLet the account team handle all customer communication since they have the relationships, and the renewals manager only processes the paperwork.
   • DAsk the account team to draft the proposal and the renewals manager to review it after the customer has seen it.
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