Renewals Manager Job Description [Updated for 2025]

In the era of recurring business models, the role of a Renewals Manager has become increasingly significant.

As businesses strive for customer retention and recurring revenue growth, there’s a growing demand for skilled professionals who can maintain, enhance, and protect these crucial revenue streams.

But what does being a Renewals Manager truly entail?

Whether you are:

• A job seeker looking to understand the core of this role,
• A hiring manager outlining the perfect candidate,
• Or simply curious about the intricacies of renewals management,

You’re in the right place.

Today, we’re presenting a customizable Renewals Manager job description template, designed for effortless posting on job boards or career sites.

Let’s dive right in.

Renewals Manager Duties and Responsibilities

Renewals Managers have a primary role in managing customer contracts for continued product or service usage.

This includes understanding customer needs, presenting appropriate renewal options, and ensuring the renewal process is smooth and satisfactory.

Their duties and responsibilities include:

• Monitoring and managing all contract renewals
• Developing and implementing strategies to improve renewal rates
• Understanding customer needs and suggesting suitable renewal options
• Negotiating renewal terms with clients and coordinating with sales teams
• Providing excellent customer service to ensure customer satisfaction throughout the renewal process
• Identifying risks of contract cancellations and developing strategies to avoid them
• Working closely with various teams like customer service, billing, and sales to ensure the renewal process is smooth
• Tracking and reporting on renewal activities and trends
• Maintaining updated knowledge of the company’s products and services
• Developing professional relationships with key customer stakeholders to promote contract renewals

 

Renewals Manager Job Description Template

Job Brief

We are searching for a dedicated and detail-oriented Renewals Manager to oversee our renewal processes and team.

In this role, you will be responsible for managing and driving the renewals process, maintaining a high level of customer retention and maximizing revenue.

Our ideal candidate is an excellent communicator with solid negotiation skills, customer service experience, and the ability to work well under pressure.

Ultimately, the role of the Renewals Manager is to strengthen customer relationships, ensure timely renewals, and contribute to the growth of our company.

 

Responsibilities

• Lead the renewals process in collaboration with the sales team to drive renewal rates and minimize churn.
• Develop renewal strategies and processes to ensure seamless customer experience.
• Monitor and manage customer portfolios and ensure timely renewals.
• Identify upsell opportunities and collaborate with sales teams.
• Develop and maintain strong relationships with customers.
• Manage and respond to customer inquiries regarding renewal.
• Provide regular updates to management on renewal status.
• Collaborate with cross-functional teams to address customer concerns and issues.
• Ensure customer satisfaction and loyalty.

 

Qualifications

• Proven work experience in a renewals management or customer service role.
• Excellent communication, negotiation, and customer service skills.
• Strong analytical skills and attention to detail.
• Ability to work well under pressure.
• Experience with CRM software (e.g., Salesforce).
• Strong organizational and leadership skills.
• BSc degree in Business Administration, Marketing or relevant field.

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Renewals Manager
• Work Environment: Office setting with options for remote work. Some travel may be required for meetings or client consultations.
• Reporting Structure: Reports to the Sales Director or Customer Success Manager.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $80,000 minimum to $120,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Renewals Manager Do?

Renewals Managers typically work for companies that offer subscription-based products or services, including software companies, media corporations, and insurance agencies.

Their primary responsibility is to manage the renewal process of customer contracts and ensure a high retention rate for the company.

This involves closely monitoring subscription expiration dates, liaising with clients to negotiate terms and conditions, and processing paperwork related to the renewal.

They also collaborate with sales and customer service teams to resolve customer inquiries, complaints, and ensure a smooth renewal process.

This can involve addressing any technical issues or service complaints, explaining renewal terms, or upselling additional products or services.

Renewals Managers are often tasked with identifying trends in customer behavior to create strategic plans for improving customer retention rates.

They may also be responsible for forecasting renewal rates and revenue for financial planning.

In addition, a Renewals Manager may provide ongoing training and support to their team to ensure they are up-to-date with the latest sales techniques and product information.

Ultimately, the goal of a Renewals Manager is to foster positive relationships with customers to encourage ongoing subscriptions and create a steady revenue stream for the business.

 

Renewals Manager Qualifications and Skills

A Renewals Manager should have a blend of specific skills and qualifications to perform their role optimally.

These include:

• Strong negotiation skills to secure renewal contracts and effectively handle pricing discussions.
• Exceptional relationship management skills to maintain positive interactions with existing clients, fostering loyalty and ensuring long-term customer retention.
• An understanding of contract details and terms in order to effectively manage and negotiate renewals.
• High level of customer service skills to address customer concerns, queries, and complaints, ensuring customer satisfaction at all times.
• Effective analytical skills to identify trends in renewal behaviors, forecasting and setting renewal targets.
• Excellent communication skills for liaising with internal teams, such as sales and customer support, as well as external stakeholders.
• Project management skills to oversee renewal processes from start to finish, ensuring timely and efficient execution.
• Financial acumen to understand pricing strategies, discounts, and their impact on revenue.
• Proficiency in using CRM software for tracking renewals and customer interactions.

 

Renewals Manager Experience Requirements

Renewals Managers often have a background in sales, customer service, or account management, with a minimum of 2-3 years of experience in a relevant field.

This could be through full-time roles, internships, or part-time positions.

They should have experience managing customer accounts, preferably within the software or technology industry, which includes identifying customer needs, providing solutions, and successfully closing deals.

Those with 3-5 years of experience often show a deeper understanding of customer retention strategies and have proven success in meeting or exceeding renewal targets.

They are also likely to have had experience in managing teams or leading projects.

Candidates with more than 5 years of experience may have a background in strategic planning, data analysis, and forecasting, which are critical for the role.

At this level, they may have led renewal teams, trained staff on renewal processes, and influenced company-wide customer success strategies.

In addition to this, experience with CRM software, such as Salesforce, and a solid understanding of the SaaS (Software as a Service) business model are commonly required in this role.

 

Renewals Manager Education and Training Requirements

Renewals Managers generally hold a bachelor’s degree in business administration, sales, marketing, or a related field.

They are expected to have a strong understanding of customer relationship management, sales principles, and business operations.

Familiarity with renewal sales software and platforms is also beneficial.

Experience in a sales or customer service role can often be as important as formal education for this position, with many employers requiring a minimum of a few years of related experience.

For those looking to advance in their careers or gain a competitive edge, additional training or certifications in areas such as sales management, customer relations, or specific sales software could be beneficial.

While not required, a master’s degree in business administration (MBA) can provide a comprehensive understanding of business operations, which can be extremely valuable in this role.

Moreover, excellent communication skills, leadership potential, and an ability to handle stressful situations are key qualities that are often sought after in a Renewals Manager.

 

Renewals Manager Salary Expectations

A Renewals Manager earns an average salary of $73,649 (USD) per year.

However, this income may fluctuate depending on factors such as years of experience, industry, the size of the company, and the geographical location.

 

Renewals Manager Job Description FAQs

What skills does a Renewals Manager need?

Renewals Managers should possess excellent communication and negotiation skills.

They should have a strong understanding of sales processes and customer relationship management.

Analytical skills are also important to assess and evaluate the effectiveness of renewal strategies.

Further, they need to have good organizational skills to manage multiple accounts and renewals at the same time.

 

Do Renewals Managers need a specific degree?

There’s no specific degree necessary for a Renewals Manager, but a degree in Business Administration, Sales, Marketing, or a related field can be beneficial.

Experience in sales or account management is usually more important.

However, some companies might require a bachelor’s degree for this role.

 

What should you look for in a Renewals Manager resume?

When reviewing a Renewals Manager’s resume, look for previous experience in sales or account management, especially in roles that involved contract renewals.

Evidence of strong negotiation and communication skills is a plus.

Other notable attributes could be proficiency in CRM software, proven track record of meeting or exceeding renewal targets, and experience in customer relationship building.

 

What qualities make a good Renewals Manager?

A good Renewals Manager is proactive, able to anticipate customer needs and address them effectively.

They are skilled negotiators with a keen sense of business.

They also possess strong interpersonal skills to build and maintain client relationships.

Renewals Managers should be detail-oriented, able to manage multiple tasks at once and always striving to improve processes and efficiency.

 

What are the daily duties of a Renewals Manager?

On a typical day, a Renewals Manager may review upcoming contract expirations, reach out to customers to start renewal discussions, and negotiate terms of contract renewals.

They may also collaborate with sales and account management teams to ensure customer satisfaction and handle any issues that might impact renewals.

Additionally, Renewals Managers often analyze renewal rates and strategies, looking for ways to improve the renewal process.

 

Conclusion

And there you have it.

Today, we’ve delved into the crucial role of a renewals manager.

Surprised?

It’s not just about managing contracts.

It’s about steering the future of customer retention, one renewal at a time.

Equipped with our comprehensive renewals manager job description template and hands-on examples, you’re ready to make your mark.

But why stop there?

Go further with our job description generator. It’s your ticket to finely-calibrated job listings or sharpening your resume to perfection.

Remember:

Every renewal contract is a step towards long-term customer loyalty.

Let’s shape that future. Together.

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