Introduction
Expansion opportunities are crucial to maximizing customer value and driving revenue growth. However, identifying the right time to promote additional products or features requires insights into each customer’s readiness for expansion. Predictive analytics allows your team to analyze customer behavior and engagement trends to pinpoint when a customer is likely to benefit from upsells or cross-sells. This article will guide you through using Gainsight’s predictive analytics to identify expansion-ready accounts, enabling your team to engage customers strategically and effectively.
Step 1: Define Expansion Indicators
Before applying predictive analytics, it’s essential to identify the specific behaviors and engagement patterns that signal expansion potential.
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High Feature Usage and Engagement: Customers who actively engage with multiple features and frequently interact with your product are likely candidates for expansion. Use Adoption Explorer to track high-usage accounts, focusing on customers who have fully adopted core functionalities and are ready for more advanced features.
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Health Score Improvements: Customers who show a sustained increase in health scores over time may be seeing growing value in your product, making them more open to expansion opportunities. Scorecards allow you to track health score trends and identify accounts with consistently positive scores.
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Product Fit and Use Case Alignment: Assess whether the customer’s use case aligns with additional features or products you offer. For instance, if a customer uses your product for analytics, they may be a good candidate for an advanced reporting module. Segment customers based on specific use cases to better target expansion efforts.
Step 2: Use Predictive Analytics to Score Expansion Readiness
With expansion indicators identified, apply predictive analytics to analyze customer data and generate insights into each account’s expansion readiness.
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Create Predictive Health Scores: Use Scorecards to set up predictive health scores that factor in usage, engagement, and product fit. These scores provide an overall view of which accounts are most likely to be receptive to upsells or cross-sells.
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Set Up Rules for Expansion Triggers: Configure Rules Engine to automatically identify accounts that meet expansion criteria, such as reaching a certain health score threshold or using a key set of features consistently. These triggers create a list of expansion-ready accounts that your team can focus on for targeted outreach.
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Prioritize Expansion-Ready Accounts by Value: Once predictive scores and triggers are in place, prioritize high-value accounts or those with strategic significance. Use CTA Priority Settings to highlight these accounts in your workflow, ensuring that your team focuses on the most promising opportunities.
Step 3: Engage Expansion-Ready Customers with Targeted Outreach
Once you’ve identified expansion-ready accounts, initiate targeted outreach to introduce relevant features or products that align with their needs.
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Send Tailored Expansion Messaging: Use Journey Orchestrator to automate personalized emails highlighting relevant features, upgrades, or add-ons. For example, if a customer is using basic reporting, share the benefits of advanced analytics. This ensures each message resonates with the customer’s current usage and potential needs.
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Invite Customers to Product Demos: For accounts with high expansion potential, invite customers to demos of advanced features or products. Use PX to display in-app invitations for demos or webinars, targeting users who frequently engage with related features.
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Assign CSMs for High-Value Expansion Discussions: For high-value or strategic accounts, assign a CTA to the CSM to initiate a personalized conversation about expansion options. This ensures that important accounts receive a high-touch approach for increased impact.
Next Steps for Success
With predictive analytics and targeted outreach in place, your team can maximize expansion opportunities by focusing on accounts with the highest potential. Continuously monitor the effectiveness of expansion efforts and refine your criteria to keep engagements relevant and impactful.
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