win the expansion growth play
leverage relationships to grow revenue
Selling to existing customers should, theoretically, be easier than selling to brand-new prospects.
Existing customers know you. You have a history together. They’re more likely to pay attention to your marketing and meet with you to hear about new offerings.
But expansion conversations can be risky. If you succeed, you lay the groundwork for stronger, longer-lasting relationships. If you stumble, those relationships stagnate. Or worse—deteriorate.
Your customers face evolving pressures that continually change their requirements for success. On top of that, your competition will relentlessly challenge your position as your customers’ status quo.
If you aren’t offering new insights that help your customer stay competitive, you risk losing the relationship.
identify your expansion growth levers
To win your expansion growth play, you need to use a unique approach that shows existing customers why they can stay with you and stay competitive. Your messages, skills, process, and teams must all be aligned to execute it effectively.
Process: If your teams aren’t following an expansion process that aligns with your customer’s behaviors and motivations, you’ll be far less likely to win expansion opportunities.
Messages: An effective expansion message offers new insights that show your customers they need to evolve their approach. But it also doesn’t disrupt the relationship so much that they decide to look elsewhere.
Skills: Your sellers need to be able to continually reinforce your value and show your customers how they can stay with you and stay competitive.
Leadership: For your expansion growth play to succeed, you need to pull your managers out of the day-to-day minutia and empower them to lead.
Technology: Your tech stack binds your messages, content, and seller skills to your process. You don’t need more tools, but rather the right tools to support your expansion growth play.
empower your teams for customer expansion
Every team that interacts with your customers needs to understand how to cement your value and offer ways to grow the customer relationship. Your sales, marketing, and customer success teams must all be telling the same story and following the same process to show your customers the value of your solution as they continue to evolve.
close the confidence gap
When you execute your expansion growth play successfully, you solidify your position as your customer’s vendor of choice, bolstering the relationship and improving your chances to win more revenue. And when your expansion strategies are in sync with the psychology behind your buyers’ decisions, it closes the gap between strategy and results, leading to shorter sales cycles and outsized revenue growth.