Renewal Incentive Process

Renewal Incentive Process

Overview: 

As part of retention efforts, agents may:
  1. Offer an incentive that applies only to the renewal year
  2. Extend the current year's incentive into the renewal year before it expires.
    1. Use discretion based on customer engagement and eligibility.
When applying an incentive to a renewal year while the account is inactive, it’s important to use the discovery process to identify additional sales opportunities —
such as plan changes or adding options and add-ons.



Warning
Once the incentive is applied, the plan CANNOT be modified without assistance from I.T. (no plan changes, additions, or option updates). 
See, Process: Adding Options/Additions or Plan Change below for more details.

'WOW' Offer

Agents now have the option to retain customers with the 'WOW' Offer, which extends incentives from the current year into the renewal year.

Guidelines

Key Details.
  1. Applies to contracts with 12-month installments.
  2. Activates in the 7th month of the agreement term.
  3. Available only for percentage-based offers.
Agent Expectations: 
  1. Build value before offering incentives.
  2. Use discretion with larger offers.
  3. Identify other sales opportunities early in the call—such as plan changes or adding options—to achieve a one-time resolution.

How It Works: 

  1. Select the Percentage Offer first
  2. Then check the box on the bottom right labeled “Apply to current and renewal."


  3. Confirm via the pop-up and accept the offer
  4. Read theOffer Confirmation Script
"Thank you. I have added your discount, and it will be applied to your next billing installment on [insert date].
Your future billing price is [insert amount] per month. You will receive an email shortly confirming your change."
            
            
  1. Verify the incentive in the Incentives tab from Menu Options


While the incentive will show applied in the Incentive Tab, incentives may take up to 24 hours to reflect in the Billing screen, depending on the client
Please view the timeline below.


Cinch Real Estate (HMS),
Sears
Sams

Up to 24 hours

All Other Clients/Plans

AFTER the renewal date

Process: Adding Options/Additions or Plan Change

When applying an incentive to a renewal year during the renewal period, agents must use the discovery process to identify other sales opportunities, such as plan changes
or add-ons.

Warning
If a customer wants to change their plan and/or add options and additions to their renewal.
 DO NOT use the WOW Offer.
The incentive must be applied to the active year and renewal year (inactive) SEPARATELY.
If the customer wants to add options/additions or change their plan, the incentive must be applied last. Follow the order below: 
  1. If applicable, apply the incentive to the current year
  2. Manually process the renewal
  3. Follow standard procedures for Change of Plan or adding Options/Additions.
    4. NotesAdd Options/Additions within the Change Plan screen.
  4. Apply the incentive.

    5. Notes For accepted offers, collect FULL PAYMENT  for both Options/Additions for the first year of the plan change and the renewal year. 
Alert
After Incentive is Applied: If a customer changes their mind and calls back within the renewal period to add options & additions after the incentive has been applied, then a JIRA will need to be submitted to have the changes applied.  This is why it is extremely important to try to identify any coverage changes that may interest the customer before applying the incentive. 

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