Grow Existing Accounts Faster
If you want to increase revenue, focus on your existing customers. According to strategic account management research by Bain, retaining current customers is almost seven times less costly than acquiring new ones and repeat customers spend 67% more on average than new customers. Do you have a strategy to grow existing accounts faster?
What Does It Take to Grow Existing Accounts Faster?
True customer loyalty, and their willingness to buy more from you, does not come without consistent effort. A salesperson’s relationship by itself is not enough. You need to prove that you and your entire organization are focused on the priorities of your current customers and are fully devoted to their personal and professional success.
4 Ways to Begin to Grow Existing Accounts Faster
If you are truly committed to building customer loyalty and selling more solutions to existing customers, you need to be sure that you:
Start by making sure that you are not chasing or serving the wrong accounts
But are you sure that you have kept up to date and know how to best address your customer’s changing needs? Customer centric cultures are obsessive about knowing and helping their customers.
Your desire and ability to consistently do what you say you will do is a clear indication of your commitment to ensuring customer success.
The Bottom Line
How can you grow existing accounts faster? By delivering world-class solutions and support for your ideal target accounts each and every day. Do not rest on your laurels. Keep current on your customers’ needs, follow through on commitments, and continue to invest in adding customer value.
To learn more about how to grow existing accounts faster, download 4 Steps to Clearly Define Your Ideal Target Client Profile
Get key strategy, culture, and talent tools from industry experts that work
Assess how you stack up against leading organizations in areas matter most
Download published articles from experts to stay ahead of the competition
Review proven research-backed approaches to get aligned
Stay up to do date on the latest best practices that drive higher performance
Explore real world results for clients like you striving to create higher performance