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Contract flexibility options to discuss with your team

March 27, 2020

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  • Contract Flexibility
    • Levers available when talking with clients about account freezes or pricing reduction requests: Contract Term Length, Discounts and Free Services, Evaluating Pricing Structure
    • Some objectivity during this time is still warranted as you enter contract negotiations. Looking at their industry, product usage data, and other analytic sources can help you understand if your customer truly needs you to be flexible for them, or they are taking advantage of the situation.
    • Most people are currently providing free services for a short amount of time, as long as they are able to lock in a full-term contract on the tail end of the free period.
    • Ensuring that team members are empowered with the necessary information for challenging contract discussion with clients is key. Investing in a dashboard that aggregates this data for them now will continue to be hugely beneficial once we are back to business as usual.
    • For organizations whose customers are in an industry that is heavily affected by these times, revenue will absolutely be reduced as customers are unable to pay.
    • Consider working with them for a defined time, as it is better to retain the customer in the long term if the revenue is going to be leaving in the interim regardless of what action you take.
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