Torchora
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Job Specification: Renewals Specialist

💰 $55,000 - $85,000 Annually (Varies by Experience and Location)

SalesCustomer SuccessAccount Management

🎯 Role Definition

The Renewals Specialist is a cornerstone of the post-sales organization, acting as the primary driver of customer retention and the guardian of the company's recurring revenue. This role focuses on proactively managing the entire contract renewal lifecycle for a dedicated portfolio of clients. More than just a transactional processor, the Renewals Specialist builds strong relationships, reinforces the value of our solutions, and strategically negotiates renewal terms to ensure high retention rates and long-term customer loyalty. They are meticulous planners, skilled negotiators, and trusted advisors who work cross-functionally with Sales, Customer Success, and Finance to create a seamless and positive renewal experience for our customers, identifying opportunities for growth along the way.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Customer Support Representative
  • Sales Development Representative (SDR)
  • Account Coordinator

Advancement To:

  • Senior Renewals Specialist / Renewals Team Lead
  • Renewals Manager
  • Customer Success Manager (CSM)

Lateral Moves:

  • Account Manager
  • Sales Operations Analyst
  • Customer Onboarding Specialist

Core Responsibilities

Primary Functions

  • Proactively manage the entire renewal lifecycle for an assigned portfolio of customer accounts, from initial notification 90-120 days out to the final execution of the contract.
  • Develop and execute tailored, on-time renewal strategies for each account to ensure the highest possible retention and minimize customer churn.
  • Build and maintain strong, long-lasting professional relationships with key stakeholders, decision-makers, and day-to-day contacts within customer organizations.
  • Prepare, generate, and deliver accurate renewal quotes, proposals, and formal order documents to customers in a timely and professional manner.
  • Lead and conduct renewal negotiations on commercial terms, pricing, and conditions, aiming for win-win outcomes that protect and grow the business relationship.
  • Identify and qualify opportunities for upselling and cross-selling additional products, licenses, or services during the renewal conversation, collaborating with Account Executives to close.
  • Maintain a highly accurate, real-time forecast of the renewals portfolio within the CRM system (e.g., Salesforce) to provide clear visibility to sales leadership.
  • Articulate and reinforce the ongoing value proposition of the company's products and services to secure timely renewal commitments.
  • Skillfully address and overcome customer objections, risks, and competitive threats that may arise during the renewal cycle.
  • Collaborate closely with Customer Success Managers and Account Managers to maintain a unified account strategy and ensure a seamless customer experience.
  • Track, analyze, and report on key performance indicators (KPIs), including net and gross renewal rates, churn rates, and renewal bookings against targets.
  • Become a subject matter expert on the company's diverse licensing models, pricing structures, and standard contractual terms and conditions.
  • Manage a high volume of concurrent renewal transactions, demonstrating exceptional organizational and pipeline management skills.
  • Meticulously document all customer interactions, negotiation details, and renewal activities in the CRM to ensure a complete and accurate account history.
  • Partner with Legal and Finance departments to ensure all renewal contracts are structured to comply with company policies and revenue recognition standards.
  • Actively engage with at-risk customers who have indicated an intent to churn, executing "save" strategies and re-engaging them on the product's value.
  • Process executed renewal orders and work with the provisioning team to ensure the customer's transition into their new contract term is seamless.

Secondary Functions

  • Provide structured feedback from the customer base to the Product and Marketing teams to help inform future product enhancements and go-to-market strategies.
  • Assist in the continuous development and refinement of renewal processes, team playbooks, and internal best practices to improve overall team efficiency and effectiveness.
  • Participate actively in team meetings, QBRs, and ongoing training sessions to stay current on product updates, the competitive landscape, and advanced sales techniques.
  • Collaborate with the Billing and Accounts Receivable departments to resolve any invoicing or payment issues that could potentially delay a renewal closure.

Required Skills & Competencies

Hard Skills (Technical)

  • CRM Proficiency: Advanced skills in using CRM platforms, especially Salesforce.com (SFDC), for pipeline management, forecasting, and activity logging.
  • Quoting & Contract Tools: Experience with Configure-Price-Quote (CPQ) software and electronic signature tools like DocuSign or PandaDoc.
  • Data Analysis: Strong command of the Microsoft Office Suite, particularly Excel (or Google Sheets), for creating forecasts, analyzing renewal data, and building reports.
  • SaaS Business Acumen: Solid understanding of SaaS business models, subscription-based revenue, and key metrics like ARR, NRR, and Churn.
  • Forecasting Accuracy: Proven ability to generate and interpret reports on renewal metrics and maintain a precise sales forecast.

Soft Skills

  • Negotiation & Closing: Exceptional negotiation and closing skills with a demonstrable track record of successfully managing commercial conversations.
  • Communication Prowess: Excellent verbal and written communication abilities, with a knack for articulating value propositions and building rapport over the phone and email.
  • Organizational Mastery: World-class organizational and time-management skills to effectively prioritize and manage a large volume of concurrent renewal cycles.
  • Relationship Building: A natural ability to build trust and foster strong, long-term relationships with a diverse set of clients.
  • Resilience & Problem-Solving: A tenacious and solution-oriented mindset for creatively overcoming objections and resolving complex customer issues.
  • Attention to Detail: Meticulous attention to detail, particularly when it comes to contract specifics, pricing accuracy, and data entry.
  • Proactive Ownership: A goal-oriented and proactive disposition with a strong sense of personal accountability for the renewal portfolio.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree or equivalent practical experience in a professional business setting.

Preferred Education:

  • Bachelor's degree in a relevant field of study.

Relevant Fields of Study:

  • Business Administration
  • Marketing
  • Communications

Experience Requirements

Typical Experience Range:

  • 2-5 years of experience in a customer-facing role.

Preferred:

  • Direct experience in a Renewals, Account Management, Customer Success, or Inside Sales role, ideally within a B2B SaaS, software, or technology company. A proven history of meeting or exceeding quotas is highly desirable.
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