The LAER-Based Approach To Customer Growth
Overview
Challenges
Summary
Included in the full report
Four Key Stages:
The LAER model consists of Land (acquiring new customers), Adopt (ensuring product/service adoption), Expand (selling more to existing customers), and Renew (customer retention).
Unified Business Capabilities:
Companies should establish cohesive processes, technologies, and personnel aligned with strategic goals to facilitate customer growth.
Importance of KPIs:
Aligning metrics such as contract renewal rates and expansion rates is vital for monitoring performance and achieving business objectives.
Resource Orchestration:
A team-based approach is necessary to handle different complexities in the growth process, ensuring the right resources address the appropriate tasks.
Best Practices for Success:
Implementing practices like designing renewable offers and training customer success managers can significantly enhance subscription growth rates and customer retention.
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