Recession Ahead, It's Time To Land And Expand
Recession Ahead? Some say it's already here
Some say yes, others say no. One thing is certain, in times of flat to low growth, a land & expand strategy works
In an economic slowdown or downturn, it's critical to focus on your install base clients.”
CASTLE ROCK, CO, UNITED STATES, July 11, 2022 /EINPresswire.com/ -- According to a recent Bloomberg article, The US economy is likely to slow in 2022 and 2023 but will “narrowly avoid a recession” as the Federal Reserve implements its rate-tightening plan to curb inflation, the International Monetary Fund said. — Chad Burmeister
At a recent sales event in Indianapolis Kevin O'Leary (aka Mr. Wonderful) shared similar sentiments. Mr. Wonderful recommended a plan for slow to no growth and a plan for negative growth (recession).
For those who lived through the last recession (or two) may remember the term "land and expand".
What is a land and expand strategy? Presumably you have a client base that pays your company money every year. And presumably you have a team who handles incoming orders from this client base. What you may not have is a strategy to proactively reach out to new departments within your install base, to "land and expand" your footprint within current clients.
Some immediate steps to take to land and expand inside your existing client base.
Step 1: Determine your core user groups (finance, IT, marketing, sales, to name a few)
Step 2: Source the appropriate contacts within these departments from best of breed data providers
Step 3: Create a warm outreach message to these department line of business leaders (phone, email, social media), letting them know that their company is already purchasing from you (your company is a "safe bet" to purchase from).
Step 4: Land & Expand! I used to call this process "named account bingo" because the goal is to reach out via multiple sales channels at least once/quarter to grow business within the account.
According to Chad Burmeister, Founder and CEO of XHumn.ai, "In an economic slowdown or downturn, it's critical to focus on your install base clients. We're excited to help CEOs and CROs not just keep their current clients, but also grow them."
About XHumn.ai: XHumn.ai delivers pipeline as a service, powered by artificial intelligence. Whether you are looking to penetrate 250 - 500 targeted accounts with warm introductions, or you serve the SMB or Mid-Market and need to penetrate thousands, the XHumn AI for Sales solutions have you covered.
Chad Burmeister
XHumn.ai
+1 800-933-0886
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