No one has any idea why or when the holiday started.
As defined by Merriam-Webster, renewal is “the act of extending the period of time when something is effective or valid : the act of renewing something.” It is also “ the state of being made new, fresh, or strong again : the state of being renewed.”
But for salespeople, renewal means something else – it means renewing your subscriptions with your clients. Those subscriptions can be anything from niche publications to software programs.
As we all know, renewing is a lot easier than obtaining new business or sales. For one thing, you are working with clients who are already familiar with your product, and will most likely continue to renew with you year after year. For another, unless you are dealing with high-end or high-priced products, all you have to do is send your clients renewal notices, and most of the time, they will send you back the payment.
However, I would recommend not waiting until renewal time to contact your clients. Again, depending on the size and price of what you are selling, it’s always a good idea to stay in touch with your clients throughout the year. Also, depending on what you are selling, you may be seeking up-sell or cross-sell opportunities.
Whether you are in sales or not, Happy Renewal Day!