Most teams significantly underuse peer referral and expansion campaigns. Both types of campaigns leverage success with a known buyer to make it easier to get a new buyer
Many companies run expansion campaigns that focus on pitching products that a client has not currently purchased. Expansion campaigns, however, work best when they focus on a new buyer goal area. In the strongest expansion campaigns, there is synergy between the initial and the expansion goal areas.
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Jonathan Hawkins shared a clever land and expand strategy with Brent that he has developed during his time at Augmedix. Jon developed three different value props for three parts of an organization. They are able to quantify their financial impact and demonstrate that by removing two to three hours of documentation a day, physicians are experiencing less burnout and seeing more patients – a value prop that resonates with CFOs.
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Brent and John Golden talk about leveraging key accounts – those that have five or six potential customers within one organization. Brent recommends determining how to connect value across those different audiences to tap into different budgets. You need to figure out how to add incremental value on the last purchase, present new opportunities across those potential new audiences, and deepen those relationships around new areas of value.