Archives for November 2018

Account Expansion: How to Upsell Unsuccessful Customers

Getting your customers to buy more from you is awesome.

Remember, you’re in business here and getting customers you’ve already spent money to acquire and serve to then expand their relationship with you – giving you more revenue – just seems like a super-efficient way to grow.

And it is.

But if you think for one minute you’re going to build a sustainable growth engine off the backs of unsuccessful customers, you couldn’t be more wrong.

Stop trying to upsell unsuccessful customers.

Unsuccessful customers don’t need – or want – to buy more of your stuff.

Obviously, right? Maybe… let’s explore this together.

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Customer Growth: Why Lack Of Expansion Is A Really Bad Sign

Customers buying more from you is awesome.

I mean, you’re in business here and getting customers you’ve already acquired to expand their relationship with you just seems like a super-efficient way to grow.

And it is.

So when you have customers that don’t expand their relationship with you, it’s obvious that this is less-than-ideal revenue-wise.

But it’s more than that.

So much more than that.

Let’s dig in, shall we?

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Account Expansion: If You Want To Grow Fast, Do This…

If you want to grow fast, don’t do what most companies do!

When most companies want to eke out some quick incremental growth, they’ll often have their sales people turn to their existing customer base to make some sales.

After all, you have a captive audience that you can sell to with little to no real effort, right?

Yeah… and you’ll get little to no real results, too.

Look, your existing customer base IS incredibly valuable… assuming you leverage that asset the right way.

Most companies handle Account Expansion poorly and therefore experience very poor results.

If you don’t want to be like most companies and to actually grow fast, leaving incremental growth for the other guys, and doing so in a customer-centric (and therefore sustainable!) way, continue reading.

This post could change your business. Seriously.

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Customer Growth: Upselling Hurts Trust (When You Do It Wrong)

When it comes to Customer Growth or Account Expansion (upselling & cross-selling), I assumed people knew that…

…you don’t have to hurt the relationship with your customer to hit your numbers.

…it doesn’t have to be a difficult slog that you struggle through to barely hit your numbers.

…giving CSMs or other non-sales people a sales quota is fraught with danger (on so many levels).

…expansion quotas – and, frankly, most expansion strategies – at best result in incremental growth, doing much damage in the process (which often offsets whatever “growth” they bring)

I assumed… but I was wrong.

I think it’s time to dive into why upselling hurts trust (when you do it wrong).

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