You’re probably tired of hearing about this, but growing revenue in today’s market is rough. So for SaaS companies, growing revenue from your existing customer base through upsells and cross-sells is what we should all be focused on. However, most companies' upsell efforts are terribly inefficient:
- Sales just want to know what customers are ready to talk so they can meet quota
- Customer Success wants to build a long-term partnership
- Customers want you to provide them value rather than try to sell to them
No one is talking to each other, which causes a significant silo and lack of data.
The key to unlocking these opportunities lies in a customer-first approach, where Sales and Success are incentivized to deliver customer value.
In this month's newsletter, we explore the dynamics around expansion more closely, providing insights and tips on improving your upsell strategy and driving strategic growth for your SaaS business from the TheySaid team and other go-to-market leaders.
Lihong & the TheySaid team
Who Owns Upsells? Finding the Right Combination For Customer Growth
This blog discusses the importance of a clear ownership structure for upselling and how the teams involved should partner. It provides insights and tips for finding the right combination to drive customer growth. Read the blog
TK Kader knows the secret to strategic growth — growing and retaining revenue.
Most sales models focus on new revenue, especially PLG. But regardless if you are a more traditional sales-led or product-led company, your biggest source of growth will be to expand and retain existing revenue, so how are you prioritizing your customer insights to fuel that growth? Read TK's post
The Reasons Why CROs and CCOs Are Surprised when Customers Churn
So why are we surprised? The reasons could include a lack of customer engagement and ineffective communication strategies. Read this blog for insights and suggestions for preventing churn and improving customer retention.
Shiv Narayanan highlights levers that impact the true value of a customer.
Revenue organizations often prioritize customer acquisition costs and Customer Lifetime Value but neglect expansion opportunities, missing out on potential upsell and cross-sell opportunities. This leads to a significant impact on customer value. Shiv Narayanan highlights this and suggests companies capture all the value a customer brings by pulling various levers to impact Total Customer Value.
Account-Based Customer Success
Marketing leader Matt Heinz suggests companies apply what we know that works with account-based marketing to post-sales for a more proactive, customer-centric approach to retaining and growing your customers.