Contract and warranty renewals should be bread and butter. Happy customers stay loyal and only wander if they feel unloved, unappreciated or they get a better offer. Renewals should be a formality but are often overlooked due to the amount of effort versus reward.
Renewals might be considered a formality by your accounts department but they are not always big ticket items that bring in high ROI or earn the best commission. Sales teams can easily be distracted, or directed, away from such relatively small beer income by the bright shiny lights of new, high value business.