How about bonusing renewals?

It’s a tired policy that runs industry wide. Bonusing only new business. Beyond the typical hitting budget bonuses, almost all media outlets offer bonus programs for securing new business. That’s fine, except if you subscribe to the 80/20 rule, shouldn’t we be rewarding renewal business more than new business? Most, if not all sellers will tell you that renewals are a greater challenge overall than attracting new business. One reason this occurs, in my humble opinion, is that the industry looks at renewals as simply a continuation of the campaign they’ve been running…”if it ain’t broke, don’t fix it”. Renewals deserve at least equal attention to new, innovative ideas as new business. Renewals should be considered for spec samples, just as new business is. Advertisers never tire of great ideas, so why do we ignore this thought when it comes to renewals? It doesn’t make business sense! If the industry started bonusing renewal business we’d see more successful campaigns, happier and impressed clients and thus, more revenue. I welcome anyone in the industry to challenge this common sense line of thinking…? We are in the results business, right?