When To Review Price On a Renewal Review Call

When we talk about price too early we fall trap into a renewal review all about price!

You always want to leave your rate conversation until the very end of the renewal review call. When you discuss rate too soon on the call you run the risk of tanking the call and making it all about rate. Here are our best tips on defending your process to gain the best outcome. 

Rate Must Wait Until the End of the Call

Make sure you aren't inviting rate in too early. You want to hold the conversation and discuss it until the end. Sometimes we all insert rate in on accident work to hold your horses and get all the information. If you discuss rate and then find a change your rate is no longer valid and you are back tracking. 

What To Do If Someone Asks 

You can control the call, we do not need to be people pleasers. Let the client know this is why you are calling you want to make sure that you get all the updated information so you can finalize their rate. Remember your words and approach matter. 

Surprise! Most people will not bring it up!

When you get started making renewal review calls you will be surprised at how few people bring it up and how you can make it more about coverage than price. Originally you may think that everyone will care about rate but once you get through a few weeks you will be surprised at how few people do!

When to Bring Up Rate

Great question. For many agencies we ask them to create an agency standard. This is the rate increase amount that when you see it makes you feel uncomfortable. When the rate is above this you want to bring rate into the equation but always:

  • Break it into monthly payment
  • Use your late night DJ voice
  • Allow them to respond many will go with it