Expansion
This refers to growing the commercial value of an existing account. It can be seen as more seats added for an existing account, upgrading to a higher tier, buying more of the product/service lines. Expansion revenue is tracked separately from new business revenue. It's the core driver of Net Retention Revenue.
💡
THE TRUTH: Before pushing for expansion, ask yourself if the customer has achieved value from the current solution. If the answer is no, any attempts to bypass this (through upsell or cross-sell) will cost you at the renewal conversation.