Most of us are sitting on a gold mine but are not mining it – your customers.

I have learned that if you place an intentional focus on customer expansion as one of your revenue growth drivers, you can get the growth you want by applying 6 best practices that I will cover in this CEO Power Hour.

Going hand in hand with customer revenue expansion you may have these goals

• retention and eliminate churn
• value realization and ROI
• strategic alignment
• referenceability

Challenges

There are several challenges that can inhibit your ability to expand customer revenue so a 360 degree strategy needs to anticipate how to address them.

• The Customer knows who you were, not who you are today
• You expanded your Offerings or Services, but they are not aware of them
• Your Sales organization originally sold “too low” in the organization, and you do not have an Executive Sponsor, or they do not see the strategic value you provide
• They are not knowledgeable about how to best use/leverage your services or solution
• They have had turnover and lack understanding how to best use what you provide
• They purchased a piece of what they need and believe that is all you do

There is a Solution

There is a way to address each of these challenges, but most importantly implement your customer success program. It includes 6 key components, and I would like to cover them in our conversation today.

Your Customer Success Program starts with the creation of Your Customer Success Playbook. There are six areas that we help our clients address to achieve greater success with their customers. In every area, I will review specific client examples to better help you understand the application and value.

1. Build Your Account Management Team or Function – we help our clients build their account management team and function so that you have accountability and responsibility to drive customer success and revenue every quarter.
   1. Define your Ideal Customer Profile (ICP) – if you don’t do this you cannot be intentional about the outcomes you want to create
   2. Tier your customer based on importance to you – 1,2, and 3
   3. Focus on Value Realized and ROI not on services delivered
   4. Design your engagement for expansion not just acquisition and retention
   5. Expand your involvement higher in the org to align strategically
2. Reimage Your Whole Solution to double your ACV – your customers today only use a portion of your solution or service. When you help them reimage how you can expand the value you deliver you help them expand their usage of your services and solutions.
   1. Create value bundles that include subscriptions, services, enhancements and third-party solutions.
   2. Move from seats to suites -eliminate point solutions unless they are the initial adoption lever
3. Conduct an Executive Performance Review with Every Customer at least once per year – we develop a proactive program to reach and meet with every one of your customers. These periodic Performance Reviews will help you stay aligned with your customers strategically and create additional revenue opportunities.
4. Elevate the Strategic Value with Your Decision Maker – your service or solution needs to be mission critical and a must have. You also need a “hero”, an executive sponsor that receives amazing ROI from your service or solution.
   
   a. Think about how you deliver strategic value
   b. Eliminate churn by delivering demonstrable value and ROI every day.
5. Build a Strong Customer Success Motion – create a monthly engagement program for your customer base. Build a continuous program that delivers customer success presentations, enhancements and new solutions or services every month. Now you are constantly and consistently engaged with your customers and expanding the value received and relationships.
6. Create a Community of Decision Makers – Our peers are the #1 reference group that we want to hear from and relate to. It is incumbent on every company to foster sharing, interaction, and best practices with your target group of decision makers. This alone prevents churn, increases adoption and shortens your sales cycles to new decision makers.

If you would like to learn more or discuss how you can double your customer revenue by 50% every year, set up an appointment with me and let us discuss how we can create your customer revenue expansion playbook.  My calendar availability is here: https://calendly.com/revenuegrowthstrategy/discuss-your-revenue-growth-goals