Keep your head out of the cloud when acquiring or renewing martech software
Whether you're acquiring or renewing your martech cloud software, watch out for frequently used contract provisions that aren't in your company's best interest. Third Door Media CEO Chris Elwell shares important lessons for contract renewal season.
Disclaimer: This article does not provide legal advice. Consult an attorney regarding all legal matters.
Contract season just ended here at Third Door Media (the publisher of this site). We try to sign/renew contracts for our martech cloud software at the end of the year for the subsequent year. That makes tracking renewals easy and gives us the most leverage with vendors who are eager to conclude agreements (and book the revenue) before the end of the year.
Renewing more than a dozen contracts in a couple of weeks is demanding since most contain provisions that even Gerry Gallo, I mean Callo, would recognize as inequitable. It helps when everyone within the organization — no matter their role — takes responsibility for identifying and addressing those inequities. When you do so before passing contracts on to your management, that saves time and money and also demonstrates your business maturity.
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