[Infographic] Expand Selling: A Cost-Effective Approach to Growing Customers

Posted by Technology Services Industry Association on 1/10/17 9:00 AM

Landing new customers will always be an important part of growing your business, but what happens after they've been onboarded? Tech companies invest a great deal of time and money in sales and marketing initiatives to capture net new business, but often overlook the chance to take advantage of revenue opportunities from within their existing customer base. This infographic takes a look at how investing in expand selling capabilities can unlock lower-cost accelerated revenue growth from existing customers.

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Topics: revenue growth, business growth, infographic, expand selling, LAER

Using Predictive Analytics for Cross-Sell and Upsell: Lessons from E-Tailers

Posted by Steve Frost on 12/20/16 5:00 AM

The holidays are upon us once again, and along with them, the corresponding annual shopping season. For dads like me with school-aged children, this is also the time of year when I turn to my favorite e-tailers to fulfill our family's wish lists. It's a tough call as to whether I love my children or hate the mall with more fervor, so in our house, “Santazon.com" with “Reindeer Prime" delivery has saved Christmas like the repentant Grinch at the end of the book. I know that it's certainly made me a lot merrier.

As we proceed to checkout with our shopping carts, we notice the e-tailer's recommendation engine making "frequently bought with" suggestions at the bottom of our screens. If I'm buying my 11-year-old son a new PlayStation 4 (Shhh...it's a secret), I have no problem with the e-tailer making the suggestion that he also perhaps could use an extra controller or might enjoy a specific game to go with it. 

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Topics: B2B, sales, data analytics, expand selling, internet of things (IoT), analytics, cross-sell, upsell, recommendation engine, predictive analytics, machine learning

5 Metrics to Measure Maintenance and Support Revenue Health

Posted by Julia Stegman on 12/1/16 5:00 AM

Service revenues continue to play a greater role in driving both top-line and bottom-line revenue growth in technology companies. For those who deploy their technology on a customer site, maintenance and support revenues represent a significant percentage of their service revenues. As a result, these companies are receiving increasing pressure from their C-level executives to grow maintenance and support revenues year over year, which adds to the expectations for sales and marketing leaders to make that growth happen.

However, before you can start down the path to growth, you should first assess the health of your existing maintenance and support revenues so that you can make the right investments, solve problem areas, and address any blind spots in your current reporting. Here is a list of 5 critical key performance indicators (KPIs) sales and marketing can use to measure the health of maintenance and support revenues.

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Topics: adoption services, support, renewal, adoption, expand selling, services revenue generation

How to Increase Sales by Helping Customers

Posted by Steve Frost on 11/3/16 5:00 AM

As the legend goes, early in Google's storied history, the founding team was in a meeting with some of their early investors who asked them how they were planning to make money. The answer seems obvious now, but at the time, it was quite revolutionary. When people search for something, Google could show them ads based on what they were searching for, exactly at the moment they were thinking about it. It was a conversation and a concept that has revolutionized entire industries.

I was privileged to be one of Google's first 700 employees, and heard this story first-hand from the founders. They were committed to the idea that a company could make money without being "evil" about it, and that advertising could indeed be helpful if presented in the right way and at the right time. The AdWords program, and its underlying algorithms, were optimized over time so that the most useful advertisements were promoted to the top of the page. Google prioritized helpfulness over short-term gain, building a fiercely loyal audience, along with the world's most valuable brand, and made billions of dollars along the way. 

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Topics: sales, customer outcomes, field services, expand selling

TSW Day 2 Recap: Top Attended Sessions

Posted by John Ragsdale on 10/19/16 1:39 PM

Today is the final day of Technology Services World Las Vegas, and I'm back to take a look at the top attended sessions from yesterday. Our 1,600+ attendees had more than 75 breakout sessions to choose from yesterday, crossing all of our service disciplines, with a good mix of tactical and strategic topics. I always like to point out the top attended sessions, because people vote with their feet for the hottest trends and topics.

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Topics: customer success, customer experience, professional services, customer service, expand selling, professional services automation (PSA), Technology Services World Conference

Calling All Sales Leaders! Hit Your Quota Through Expand Selling

Posted by Mark Middlekamp on 6/9/16 6:30 AM

A refrain I often hear from many of our Expand Selling (ExS) discipline members is that the collaboration between the services and sales functions leaves a bit to be desired in the context of expand selling. TSIA research shows that only 33% of technology companies consider the level of collaboration between sales and services within their organization as “high”, and that's not even in the context of how services helps sales with expand selling!

Suffice it to say, there is certainly much room for improvement in how the sales and non-sales functions like services and customer success work together to systematically drive revenue growth with your existing customers. Therefore, my mission for this post is to explain why sales leaders should actively embrace services and customer success as expand selling partners. The reason is simple: they can help your team achieve quota. 

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Topics: customer success, support services, services, sales, customer support, expand selling, LAER

[TSIA Spotlight] Expand Selling and LAER for Marketing

Posted by Thomas Lah on 5/12/16 6:30 AM

Recently, an article I wrote was featured on MarTech Advisor, a marketing technology publication, called, "Why Marketing Technology Platforms Need New Innovations to Drive Revenue and Growth," about how Expand Selling and TSIA's LAER model applies to the role of marketing. In this post, I explain how important it is for marketers to focus on finding the right technology innovations that will enable them to better drive ROI for their business and cost-effectively re-ignite revenue growth. Here's an excerpt from that article:

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Topics: expand selling, LAER, marketing

3 Expand Selling Tactics to Drive Immediate Revenue Growth

Posted by Mark Middlekamp on 3/29/16 8:35 AM

In May, TSIA's Expand Selling discipline will be celebrating its one-year anniversary. In our first year, we have worked to define this emerging concept for both our industry and our members, as well as provide insight into how you can begin on your expand selling journey. However, while traveling down this strategic path, I've observed a number of expand selling tactics that drive immediate revenue growth. Here are three I would like to share with you.

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Topics: expand selling

Identifying What “Good” Looks Like in Expand Selling

Posted by Mark Middlekamp on 3/1/16 7:30 AM

Expand selling requires many functions, including sales and services, to work together to accelerate revenue growth with existing customers. However, as a sales or services leader, do you know what it costs for your respective teams to generate every new dollar of revenue growth? Based on our research, TSIA observes that only a fraction do, which has a profound impact on the ability to know what "good" looks like when it comes to effectively driving expand selling initiatives.

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Topics: sales, expand selling, LAER

Technology Services: What Lies Ahead in 2016

Posted by Thomas Lah on 12/17/15 6:30 AM

'Tis the season of giving, and today our gift to you is the ninth day of our annual 12 Days of Insights blog series. Enjoy!

If there was any doubt that the technology industry is undergoing a major transformation, this year has produced even more compelling evidence that we are nearing the end of the first great era of tech. There are no tea leaves involved here; the story is playing out in the publicly reported financial data from traditional technology companies. Collectively, tech company revenues have declined steeply in 2015, with tens of billions of dollars coming off the table quarter after quarter.

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Topics: outcome-based services, customer success, customer retention, customer outcomes, customer churn, expand selling, 12 Days of Insights, outcome engineering

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