Published April 2, 2022
In a market full of stiff competition, an economy facing unprecedented headwinds, and technology needs increasing among companies while budgets are under pressure, positioning for long-term success will take new ways of thinking. Here are three big ideas technology sellers can use now to drive strategic revenue growth:
- As-a-Service Roadmaps
The subscription-based, as-a-service world is growing quickly, and companies that find a way to get there first are winning. Especially in times like these, a budget-friendly monthly payment for everything a customer needs to leverage a solution can be a powerful driver of revenue. Building a roadmap of customer needs and the connective tissue between your solutions might elevate a few unique opportunities to build service-based programs that are differentiated and help drive new channels of revenue.
- Major Account Strategies
Developing major account growth strategies is the first key step in unlocking new revenues from your largest customers and opportunities. These strategies include business plan-level analysis of customer profitability, current services, past proposed solutions not enacted, and even a calling chart on the parties that influence potential new solutions. Start by assembling a scrum of your cross-functional team members (financial, executive, sales, operations, service, and marketing) along with key partners like your customer finance program provider. Then conduct a twice-per-year brainstorming meeting to discuss tactics, campaigns, relationships, and business dynamics that can help you develop a new opportunity. This strategic technique has been proven successful across several industries in penetrating targets and driving high-value revenues.
- Selling Financially
Many technology sales teams express hesitancy when it comes to challenging the financial status quo. We all understand that no matter how beloved the technology solution, if it doesn’t fit into the financial framework, opportunities fail. Building a strategic effort to elevate the financial acumen of your sales leaders can open doors previously believed closed. Another added benefit to selling financially is that it leads to a higher level and more strategic business discussions with your customers and prospects. This line of dialogue, when managed well and often, leads to more opportunities.
At LEAF, we help technology sellers think bigger and offer solutions that reach far beyond customer financing.