5 reasons to prospect within your existing customer base
TRANSCRIPT
Business and relationships come with their highs and lows, and all too often there are things that eventually end up being taken for granted.
The same similarity applies to the theory of new vs existing customers. Anyone working in the sales department will agree that prospecting is difficult when trying to secure new clients.
Looking at a broader picture, some clients feel as if they are being taken for granted. In some cases this is true. Some sales teams have an underlying attitude that if their clients need something they will contact them.
Defining 'Prospecting.
In this scenario, prospecting is identifying key accounts that may have stalemated and finding opportunities bring new value through an additional sell.
Finding Advantages in Existing Accounts.New accounts present several challenges, but few of those barriers apply when you work with existing clients.
Prospecting Within the Consumer Base Offers at Least Five Advantages:1. Win rates for obtaining add-on business
should be knowingly higher.2. Buying cycles are much smaller.3. Incidents of "no decision" are likely
less often.4. Key player contacts already are recognized.5. Contracts/legal agreements are in place, making you the incumbent vendor of choice.
As an incumbent vendor, you should focus on finding add-on offerings for key performers within your consumer base.
Paying Attention to Organizational Changes.
Pay as much attention to your existing clients' structural charts as you did when you courted them as potential prospects. Few things are more disheartening than losing a client to a dealer who capitalized on the opportunity to court your client. As you consider how you’ll make this year’s quota, be sure to feature in business that you can find within your client base. If you don't, you’re leaving money on the table.
To Your Best Online!
Ingrid Gee, Internet Marketing Consultant. Blue Dress® Marketing, an Internet Marketing Company headquartered in Knoxville, TN. Internet Marketing Developed, Implemented and Managed to Full Circle! Organic Internet Search Engine Guru. Turn Key Internet Optimization Programs Placing You Everywhere and Anywhere You Need to Be Online®[email protected]