We all know that it costs considerably more to land a new account than to grow an existing relationship. Take advantage of your position to go deeper and wider.
Many sales organizations want to execute a “land and expand” strategy – that is, penetrate an account, and then cross-sell and up-sell throughout the customer organization. However, too often, sales teams fail to properly manage and develop initial customer success and growth within those accounts. The result is higher customer churn costs, lost profits, and lower market share.
“Land and Expand” strategies fail for many reasons, such as:
- There is no proven, repeatable method for growing the initial sale into larger business in the account
- The initial sale is low-value product driven, but subsequent sales are high-value solution driven
- The buyer for the initial sale is a lower-level operational manager, while additional business decisions are made by higher-level executives
- Efforts to cross-sell and up-sell are perceived as self-serving and of limited value by the customer
We help our clients improve their ability to land and expand by:
- Implementing sales strategies that support customer account development
- Using our “Voice of the Buyer” research to learn definitively why and how customers buy the types of solutions your organization provides
- Defining personae and value propositions for buyers in an organization for all components of the solution portfolio
- Creating account strategy to identify opportunities to cross-sell products and services effectively, and develop higher levels of relationship with key players in customer accounts
- Enhancing buyer-focused processes to foster incremental business in customer accounts
- Capturing and institutionalizing the sales processes that enable you to successfully penetrate and develop business in a customer organization
- Creating an account management process to systematically identify opportunities to provide enhanced customer value and generate new business
- Establishing a sales management cadence for inspection and coaching to account management standards
- Developing sales talent for improved account management
- Assessing sales and service talent to identify and measure critical sales competencies and prioritize training and development
- Training salespeople and account managers on effective skills and methods for selling customer-focused solutions through value creation
- Training sales managers to coach to the desired account management process and behaviors
- Aligning enabling sales technology to support improved account management
- Enabling easier account planning and management through the use of CRM-integrated tools and analytics
- Providing guided selling applications with embedded learning and reinforcement based on winning sales practices
Our solutions enable you to create more certainty that your “land and expand” strategy can be implemented successfully and consistently across your organization. You will sell larger deals and create more customer loyalty and satisfaction.