Five Ways to Increase Customer Share in the Subscription Economy

Five Ways to Increase Customer Share in the Subscription Economy

We’ve reached the midway point in 2016 and now’s the perfect time to reevaluate – or even re-think – your current growth strategy. Traditionally in our industry, business growth has been built around gaining market share: adding new logos, making more deals and fueling the sales pipeline.

“Being successful in this new economy increasingly requires that companies actively manage their customers during their engagement relationship, instead of just focusing on making the technology sale.” – Forrester Research

But we all know it’s more costly to land new customers than it is to retain existing clients. Experts say it’s as much as 15% more costly. And as the subscription economy continues to transform the world around us, “customer share” is emerging as the growth strategy that makes the most business sense today.

What is customer share? It’s a growth plan geared toward earning more revenue from fewer customers — as opposed to looking for growth from more new clients. Instead of focusing your sales team on new logos, the emphasis is on expand selling and growing customer lifetime value (CLV).

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