The Expansion Sale: Four Must-Win Conversations to Keep and Grow Your Customers

by Erik Peterson, Tim Riesterer

Proven customer engagement approaches for winning in the most important moments driving profitability and growth—customer retention and expansion

Industry analysts report that up 70-80% of business growth comes from existing customers.

So why are you still investing mainly in attracting new customers? And, leaving renewals and upsells to chance?  Or, worse yet, using a one-size-fits-all approach to acquisition as you do for expansions?

The Expansion Sale provides everything you need to seize the competitive edge in the customer-success space. Authors Erik Peterson and Tim Riesterer explain how the buying psychology of existing customers differs from that of new customers, and show how to adapt your commercial engagement strategies accordingly. They provide clear, easy-to-apply messaging frameworks for creating and delivering winning conversations in the four must-win commercial moments of customer ensuring renewals, communicating price increases, increasing upsells, and apologizing effectively for service failures.

Genres: Business

257 pages, Kindle Edition

Published February 11, 2020

About the author

Librarian Note: There is more than one author in the Goodreads database with this name.

Reviews

[Austin Parks · Rating 4 out of 5]

Took several notes that will help in my sales process. Listened to audiobook and worth the 4 hour listen on long drive.

[Stephen · Rating 5 out of 5]

Another sales book? Ah but is it? There are shelves filled with how to make the first sale, the first impression. That oh-so-sexy initial contract where the sales team pops champagne and shares high fives.

But Peterson and Riesterer make the point, backed by research, that most sales and growth comes from business relationship expansion (that companies spend only 30% of their sales budget on), not that initial
sale. And this book challenges businesses to spend more effort on that expansion sale.

How to do that is in the book but one thing that struck me is the need for introspection to create a “why stay” narrative. I’m a small business and if I’m just sitting on a business relationship and not reflecting on the value I bring to it and improving it, I am setting myself up for a potential fall because someone else is showing my client the potential value they can bring. The book outlines an approach to creating that why stay narrative and I’ve got some work to do, and probably you do too.

[Ed Barton · Rating 5 out of 5]

It is rare that I gush over a book, or recommend it to my team members, but this was an exception. I am the CEO of a mid-sized SaaS business and picked this book up expecting to read a pretty typical business tome on customer service or upsell techniques. Boy was I wrong. You get that - but you get it backed by studies and best practices. You get it with actionable steps, excellent explanations, and easy reading, focused and short chapters. When I sent this to my performance management (customer success), sales and executive teams, I emphasized that the time would be well spent digesting this book - because it is our company's future. You would similarly be well served to read the book - especially if you are in a recurring revenue business. There will be few other things you will read this year that will impact your business more.

[Michelle Kocar · Rating 5 out of 5]

great easy read grounded in evidence of maintaining and expanding sales contracts

I started a new position that had a primary focus of contract renewals and expansions. I found this book easy to read and understand, but more importantly relevant because a use it was grounded in original evidence from small scale studies that filled current research literature gaps. No, this isn’t a heavy, research statistics-laden report type book, but actually written in a conversational way that supports the statements with easy to understand study results supported by relevant, clean graphics that summarize main findings and models for implementation. I feel
Confident in starting my new position now even though it has been decades since finishing my business minor and being on the sales side of things in my field.

[Rachel Moffitt · Rating 4 out of 5]

Solid frameworks, compelling research, anyone entering CS should read this book. Especially if you're transitioning over from sales - highlights the differences in approach in a really clear way.

[Megha · Rating 4 out of 5]

Read this book for work! But highly relevant to my specific sales role and an easy read!