The majority of companies—58%—see no need to differentiate their messaging and content between new customer acquisition and customer retention or expansion. But that doesn’t mean a one-size-fits-all approach is right. In fact, it’s quite wrong.
Research reveals that key customer success moments like customer renewals (Why Stay) and upsells (Why Evolve) require a distinct messaging and customer conversation approach. Why? Because the buyer psychology in these customer retention/expansion situations is radically different from that of new customer acquisition. Treat them the same at your peril.
Customer success has emerged as a key growth engine—a separate discipline with specific pressures and demands. Only with Corporate Visions do you get the messages, content, and skills rooted in original research and decision-making science to help you answer the most pivotal questions your existing customers are asking: Why should I stay? Why should I pay more if I do? And why should I evolve with you? The most effective customer retention and expansion strategies allow you to answer these questions with confidence, strengthening your customer relationships and propelling them into the future.
Many companies use the same story to keep and expand with existing customers as they do to acquire new ones. But research reveals that the stories you need to succeed in customer renewals and price increases (Why Stay) and upsells (Why Evolve) are fundamentally different—even opposite—from the disruption-minded messaging that’s most effective when you’re trying to acquire new customers. As such, a one-size-fits-all approach won’t give you an edge with your renewal and expansion messaging—it will actually set you back.
With Expand Value Messages, you’ll participate in a swift, clearly defined, expertly facilitated message development process to create stories that answer the key expansion questions you’re customers are asking: Why Stay/Why Pay More for customer renewals and price increases; and Why Evolve for upsells and product migrations. Two days later, you’ll walk out with a compelling customer story and simple, concrete visuals. You’ll have polished drafts of your new messaging in your hands within two weeks of your workshop, and final versions a few weeks after that. That means you can start telling the right story for the right moment almost immediately. Powered by messaging frameworks and expansion strategies that are tested and proven by original research, you’ll develop messages that propel your most important customer expansion efforts forward—whether you need to retain more customers or drive greater account growth.
Whether you’re trying to convince customers to renew their agreement, pay more for your solutions, or evolve to higher-value solutions, you need content that follows a specific messaging choreography and visual storytelling philosophy—tested and proven by research.
With Expand Value Content, you’ll apply a science-backed approach to your campaign and sales enablement content assets to support your account-based marketing communications and account sellers’ conversations. With research-backed messaging frameworks serving as the foundation, you’ll develop content that helps you tell the right story in the customer expansion moments you need to succeed in.
Research shows that the skills and techniques you need to acquire new customers are different from the skills you need to retain and expand with existing customers. The key situations of customer retention (Why Stay) and expansion (Why Evolve) have unique pressures and demands. Disrupting or challenging your customer during a renewal or upsell situation is the exact wrong approach—one that could drive a good customer straight into the arms of your competition.
Only with Expand Value Skills can you give your salespeople the skills they need to renew more customers, communicate price increases, and evolve your customer relationships to drive greater value and growth. With a mixture of online and hands-on application-based learning and reinforcement, you can train your sellers on the research- and science-backed concepts they need to be remarkable when implementing your customer retention and expansion strategies. Whether you need to keep more customers, pass along a price increase, or increase your upsells, Expand Value Skills gets salespeople fluent in the skills they need to engage customers across all these pivotal moments.
For coaching to make an impact today, it needs to provide a more comprehensive approach to the forces that actually change reps’ behaviors in the field. That means a relentless focus on application, practice, coaching, and reinforcement
Only with Expand Value Coaching do you get the most comprehensive and continuous approach to these coaching essentials—all supported by an array of coaching solutions to ensure the skills you invested in get adopted and applied in the field. Expand Value Coaching includes manager coaching skills that turn your sales managers into Expand Value field gurus, making them better coaches, leaders, and communicators. It includes Virtual Coach to help reinforce the skills and create lasting behavior changes; Fluency Coaching to ensure more observable practice, expert feedback, and demonstrated proficiency; and Deal Coaching to help you apply Expand Value Skills to must-win opportunities.
Banner stat: McKinsey & Company