In 2023, subscription businesses will continue to be a mainstay in the digital economy. Companies must look beyond simple customer acquisition account and focus on account expansion to keep up with the competition. No wonder, customer success expansion is a hot topic these days.

Best Account Expansion Strategies

1. Leverage Usage Data – Analyze usage data to understand better how customers interact with your product/service and how you can add additional services or features that could boost engagement.

2. Offer Personalized Experiences – Create personalized experiences that cater to each customer’s individual needs, interests, and preferences.

3. Improve Customer Support – Upgrade customer support channels such as toll-free numbers, live chat options, email support systems, etc. To ensure timely resolutions to service complaints and inquiries.

4. Get Creative With Pricing – Offer packages that incentivize customers to purchase additional services or extend their contract period.

5. Focus on Cross-Selling – Identify opportunities for cross-selling and upselling, such as bundling related products/services or offering discounts when multiple items are purchased.

6. Leverage Referral Programs – Create referral programs that encourage existing customers to refer new users, which can quickly increase subscription numbers.

7. Engage Through Mobile Apps – Develop mobile apps that let customers access their accounts and use your service more conveniently while on the go.

8. Optimize Your Website For Retention – Ensure your website is optimized for retention by featuring informative content and highlighting promotional offers that can help drive customer loyalty.

9. Increase Subscription Flexibility – Give customers control over their subscription plans by allowing them to customize features. Pause or cancel their accounts as needed, and pay for additional add-ons.

10. Implement Automated Renewals – Allow customers to automatically renew their subscriptions instead of having them manually do it every month or year. It is important for account expansion for SaaS.

11. Provide Multiple Payment Options – Make sure your payment system is flexible enough to accept various payment methods from different nations worldwide.

12. Educate Customers About Benefits – Promote customer education through webinars, blog posts, etc. That explain the value and benefits of your service to encourage more extended subscription periods.

13. Offer Discounts/Coupons – Create promotional codes and discounts to incentivize customers to purchase additional subscriptions or extend the duration of their accounts.

14. Implement Retargeting Campaigns – Use retargeting campaigns to reach out to inactive users who haven’t logged into their accounts in a while with attractive offers that can help re-engage them.

15. Personalize Subscription Options – Allow customers to choose from different subscription options based on their needs and budget, such as annual plans, monthly plans, etc.

16. Target Underserved Markets – Identify underserved markets with growth potential. Create tailored plans for those markets, and reach out to them through targeted campaigns.

17. Use Subscription Management Software – Leverage subscription management system to manage subscribers efficiently, collect payments, generate invoices, and track usage.

18. Send Reminders – Automate reminders that can be sent to customers when their accounts are about to expire or when additional services are available for purchase.

19. Deploy Loyalty Programs – Launch loyalty programs that reward customers for sticking with your service over time. Such as offering gift cards or exclusive discounts upon renewal.

20. Offer Free Trials – Allow potential customers to try out your service before committing by offering free trials of your product/service (limited access, short duration).

21. Promote New Features – Highlight new features in promotional emails or through social media campaigns explicitly designed to attract existing customers who want to stay up-to-date.

22. Create VIP Programs – Develop VIP programs that offer exclusive benefits and rewards to customers using your service for an extended period.

23. Utilize Incentive Marketing – Incorporate incentive marketing techniques into your campaigns. Such as offering a discount when customers refer their friends or giving away free items with purchase.

24. Monitor Customer Feedback – Regularly check customer feedback on social media, review sites, etc. So you can identify issues quickly and address them before they become significant problems.

25. Customize the Experience – Use customer data to personalize their subscription experience by offering relevant content, discounts, and other features tailored to their needs. It can help boost engagement and loyalty over time.

26. Leverage Influencers – Utilize influencer marketing to reach large audiences and / or create brand awareness. It can be a powerful tool for converting potential customers into subscribers.

27. Strengthen Customer Support Team – Invest in your customer support team to respond quickly to inquiries, troubleshoot issues, and ensure that customers get the best possible experience with your service.

28. Monitor Subscription Trends – Analyze trends in subscription plans. And usage metrics over time to identify areas where improvement is needed or more features could be added.

29. Offer Referral Bonuses – Encourage existing customers to refer their friends by offering referral bonuses. Such as discounts or free products/services when they sign up.

30. Develop an Affiliate Program – Create an affiliate program to partner with influencers and other organizations. It can help promote your service and drive more subscribers.

That’s it! Following these steps can help you in account expansion in subscription businesses and make your service more successful overall. Good luck!