70-80 percent of company revenue and growth in a given year will come from existing customers. Yet, customer success programs typically have to make do with commercial content from the customer acquisition side. Best case, they manage to cobble together their own communications with a comparably limited budget.
Despite getting short shrift from an investment standpoint, customer expansion has emerged as a key growth engine.
But do the same approaches that work for customer acquisition pass muster when you need to renew customers, get them to pay more, expand the relationship, or regain their loyalty? Or do these situations have their own unique pressures and demands that revenue teams need to understand and tap into?
Just because the majority of companies—58 percent, according to a DecisionLabs survey—see no need to differentiate their messaging and content between customer acquisition and customer retention/expansion—doesn’t mean a one-size-fits-all approach is right.
In fact, research reveals it’s quite wrong. Selling to existing customers does require distinct messages and conversation approach because the demands of those must-win situations are radically different from those of customer acquisition.
In this collection of science-backed resources, you’ll learn how to navigate the pressures and demands within four acute commercial moments with existing customers—renewals, price increases, upsells, and service recoveries.