Image: OpenAI’s Illustration Land and Expand Sales Strategy
"Opportunities multiply as they are seized."
-Sun Tzu, The Art of War
I swear The Tzu-nster was a sales guy before he became a general, philosopher and strategist. If there is one hard core sales mentality that is vital, it’s to view every opportunity as an expedition that opens new doors. Land and expand, establish a beachhead or as one of my old school sales managers used to say, insert and swell.
Like a master chess player, always be looking 2-3 steps ahead and ask yourself the following questions:
Is this a one and done? Finding that unicorn that buys your whole product stack or offering right out of the gate is a rarity. But in the case the stars, budget and timing is aligned and you hit a homer, you have some thinking to do. How much more can I get out of this account with my current arsenal? Figure out your expansion opportunity and devote your time accordingly. Selling is all about time management and figuring out where you should focus. I see reps all the time get dragged into account matters, support, useless meetings and the like. Don’t get stuck on the beachhead with no where to go and get stuck in the sand. Move to the next opp. Read more on sales prioritization.
What are my expansion opportunities at this account? How can I expand into the current base and how do I reach into other departments, divisions, business partners, etc? If you have sold the deal, you should have rapport with your internal stakeholder. Don’t be afraid to ask for referrals internally and externally. Talk to procurement. Ask if there are other initiatives within the organization for your solution, and if he/she is aware of other projects. Procurement folks love it when you make their life easy and if you have already gone through the procurement process, his/her life will be simplified for follow on purchases once you have gone through vendor onboarding and diligence.
Who can help me in my expansion opportunities? Selling is a team sport. Leverage all your assets and marshal the troops. If you have a technical resource like a solutions engineer, divide and conquer to uncover opportunity. Get product marketing involved in a “lunch and learn” for other departments. Brief professional services on your game plan and get them into the fray. Many hands make light work. And explore the external opportunities. How can this opportunity open doors with net new business? Can your stakeholder speak at conferences? Are they part of an association with a few willing to speak about your solution and products? Be creative and think of ways to leverage a relationship and establish your expansion strategy
Just some Monday thoughts. This technique will help you build an impressive forward looking pipeline and the deals will be lining up like airplanes on a runway. Happy expanding!