Startup Funding Espresso – Systems for Selling Recurring Revenue Products

Systems for Selling Recurring Revenue Products Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing Recurring revenue gives the company several sales opportunities. Here are the key systems to install for selling recurring revenue products. New logos -- this process finds new prospects and acquires them as an initial customer. New logos represent an expansion of the customer base by bringing in new users. This customer acquisition system must generate awareness among new prospects. Renewals -- this process seeks to retain existing customers by increasing renewals. Maintaining existing customers comes from the successful use of the product. The renewal process tracks the customers' usage of the product and looks to maintain the customers' engagement through customer success. Customer retention comes from strong customer support. Customer expansion -- this process seeks to sell more services to existing customers. Recurring revenue companies have multiple products to sell. This system proposes additional products to existing customers. A good, better, best product offering helps with the upsell and cross-selling. There are three systems for selling recurring revenue products: find new customers, renew existing customers, or sell more to existing customers. Consider the system for each one of these for your startup. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Investors check out: https://tencapital.group/investor-landing/ For Startups check out: https://tencapital.group/company-landing/ For eGuides check out: https://tencapital.group/education/ For upcoming Events, check out https://tencapital.group/events/ For Feedback please contact [email protected] Please follow, share, and leave a review. Music courtesy of Bensound.