# Renewal Deal

A renewal deal is similar to an expansion deal. It refers to an arrangement where a brand’s existing customer agrees to continue their subscription or service agreement with a brand after the initial contract term has expired.

This is a common practice in industries that operate on a subscription or recurring revenue model, such as those in the Software-as-a-Service (SaaS) space. Renewal deals are important for brands because they represent a continuation of the revenue stream from existing customers, often with lower sales and marketing costs than acquiring new customers.

[Source: CSM Practice](https://www.csmpractice.com/customer-renewal-process)

## An Approach to Deal Renewals:

Renewals and Expansion: How to drive growth as a CSM - YouTube  
[Renewals and Expansion: How to drive growth as a CSM](https://www.youtube.com/watch?v=Qb9FoLjVKrI)

## Renewal Deal