“Land and Expand” is the major sales strategy for many software companies and great attention is focused on customer acquisition and on corresponding demos. But what about securing renewals and expanding your footprint?
What strategies and positionings are appropriate and how do you frame your demos for the range of renewal and expansion situations?
We’ll discuss:
- Renewals – When Things Are Good
- Renewals – When There Was Low or No Usage
- Renewals – Positioning and Presenting Product Improvements
- Expansion – Same Department, Same Use Cases, More Users
- Expansion – Upselling and Cross-Selling to Existing Customers
- Expansion – Different Departments
The article provides strategies for handling renewals and expansions with existing customers of software products. It emphasizes the importance of reinforcing the value and success already achieved by the customer, leveraging existing investments, and understanding the customer’s goals and challenges. Different scenarios, such as renewals when things are good, renewals when there was low or no usage, and expansions within the same or different departments, are discussed, each with specific strategies and positioning recommendations. The article also highlights the use of Great Demo! practices, such as using Situation Slides and Illustrations, conducting Discovery sessions, and leveraging internal references to facilitate the sales process.
