After renting your product for years...

There might come a time when your customers, after paying for your services for years, think they should pay less. So maybe it's time to start thinking about ways to prevent the coming churn already now?. Churn might be new to many software developers, but all Telco's know everything there is to know about it. You need a plan for how to squeeze the last months out of a rental agreements.

Here is a model that might work:

First, investigate how many months your current customers have been renting your service. Then find out who you lost, and why. Then set a clear goal, e.g. "an average customers should rent for 36 months". Then make a contractual incentive, e.g. give them -10% off price if they sign up for a 36 months binding period. Then make a plan for how their rental cost will decrease after 36 months. By doing that, and if you make it attractive enough, you might be able to have them sign up for another 24 or 36 months?

Also, since you are getting to know your customers, you should also find out what other needs they have. It might be a start for you to build another service to continue the relation you already have. Remember, up-sale is the least expensive way to increase your profit margins.