Subscription and XaaS offers are clearly powering the growth of the technology industry (and even other industries). The best way to achieve profitable growth in Subscription models is by driving more revenue from your existing customers, and aggressively migrating them to your subscription and hybrid offers. The strategy, methods and tactics required to grow existing customers in subscription models are very different than the ones required under the traditional transactional approach to selling technology. You’ll need to have a plan to migrate your customers to your new offerings, and grow them once they get there.
The end of a quarter/half year is always a time for reflection – this has never been truer than the end of Q2, 2020. The biggest thing that hit me as I was reviewing the past quarter’s accomplishments was just how much has changed in such a short time. In March, clients were completely uncertain. We were having daily discussions with clients that included questions like:
- Should we reduce our forecast for the quarter to 0? What about the rest of our year?
- We had 3 big events this quarter that were going to drive our leads, what do we do now?
- How do we need to re-think our organization and structure?
- What will we do now that we can’t meet with customers and prospects in person?