If you are a subscription business, customer retention and account expansion are essential in driving your growth engine. Whether encouraging upsells, cross-sells, or product / service add-ons, consistency is key. After managing churn, driving expansion sales can be transformative to your team and bottom line. In fact, SaaS companies that thrive are often able to recover revenue lost to churn through effective expansion selling.
Check out our Customer Expansion Knowledge Hub below to learn the strategies and tactics that can help your team drive effective account expansion.
Monitoring adoption trends is key to driving account expansion. Looking at usage data and license utilization, your team can easily identify which accounts are ready for upsell or cross-sell opportunities.
Keep customers informed with targeted in-app messages alerting them of new product add-ons they might be interested in. In-app messaging allows you to engage customers at the optimal moment: as they use your product.
Don’t let customers get lost in your product. Lead them straight to value with multi-step in-app guided tours. By directly engaging and supporting users inside your application, your team is positioned to identify trial users who are ready to be converted into paid accounts.
Customer Success teams thrive by taking a data driven approach. Expansion sale activities are no exception. Use customer data and automation to trigger personalized communications that target the right customers, at the right time, with the most relevant upsell offers.
Relevant posts just for you:
Managing the Customer Journey to Accelerate Account Expansion
Perfect timing for upsells, avoiding flawed CS frameworks, the power of proactive customer education
Churnopedia: Expansion Monthly Recurring Revenue (MRR)
Content from around the web:
Customer Success and Expansion Opportunities (via The Success League)
Who Owns SaaS Customer Expansion and Renewal: Sales or CS? (via SaaSX)
Expansion Selling Strategies: Tips for SaaS Companies (via CSM Practice)
If you’re looking to improve the effectiveness of your team’s expansion selling efforts, look no further than ChurnZero’s real-time Customer Success platform. Our robust automation tools enable CS teams to reduce previously manual day-to-day tasks and communications. Paired with advanced reporting, your team is armed with the right insights to accurately forecast renewals and identify accounts with upsell and cross-sell opportunities.
Ready to see the impact ChurnZero can have on your account expansion efforts? See ChurnZero Live
