Grow Existing Accounts Faster
If you want to increase revenue, go first to your existing customers. According to research by Bain & Company, retaining current customers is almost 7 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 to existing customers, you need to be sure that you:
1. Identify and Focus on Ideal Target Accounts
High performing sales reps ruthlessly focus on target customers where they know they will win the majority of the time. Ideal target accounts don’t just buy your stuff; they passionately buy and use what you have to offer. Start by making sure that you are not chasing or serving the wrong accounts.
2. Know Exactly What Your Target Accounts Need and Want
Once you know your ideal target accounts, make sure your team always understands your customer’s top priorities and articulates how you can help them to succeed in a way that makes sense for their unique situation. Chances are you that your sales team understood what mattered most to your customers when you first won their business. But are you sure that you have kept up to date and know how to best address your customer’s changing needs?
3. Align Frontline Staff to Your Target Accounts
Your customer service and delivery teams are responsible for living your brand promise. Can you guarantee that your team is well trained in how to keep customers satisfied? Your frontline personnel are critical to keeping existing customers satisfied, to uncovering new opportunities, and to increasing the likelihood that existing customers will continue to buy from you.
Your desire and ability to consistently do what you say you will do is a clear indication of your commitment to ensuring customer success.
4. Never Take a Customer for Granted
You can’t retain and grow current customer accounts without consistently adding value and having timely touch points. Just picture your competition waiting in the wings to grab your spot on the stage. Customers need stroking and attention on a regular basis – not just quick check-in calls, but actual value-added conversations.
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
4 Tips to Keep Your Team Engaged
Top 4 Sales Leadership Mistakes to Avoid
A Better Way to Set Strategic Priorities
How to Better Handle Office Politics
How to Ensure Smart Talent Management
I consistently look to LSA Global when I need custom programs put together for my client groups. I can always count on LSA to do a thorough needs analysis and to put together spectacular programs that are well received. Their management development and performance management expertise and professionalism make them one of my top-rated learning and development partners.
HR Program Manager
We recently contacted LSA Global to assist us with a unique training request. We gave LSA a very short deadline and LSA custom designed a training program to meet our exact requirements within the limited time allotted to them. We found their facilitator to be well versed in the subject matter and very credible; the design provided practical and valuable information to our team of managers. I highly recommend LSA Global, particularly in the area of management training.
Julaine K. Souza
Senior Vice President
LSA provided top notch solutions right when and how we needed them. They exceeded my expectations from a speed, quality, and cost standpoint. I recommend them to anyone looking for a true business partner in the Learning and Development arena. The breadth and depth of their expertise has helped us hit tight deadlines across multiple projects.
Fortune 500 Financial Services Company
Director of Infrastructure & Technology
I am very impressed with the quality of work and talent. LSA did a great job of listening to my needs and providing the exact management training program expertise I needed to get the job done.
Director, Business Planning & Analysis
What a refreshing change from the half-baked psycho-babble you normally get from training and consulting organizations. LSA gives you the practical and results-oriented assistance you need to define and reach your goal. They provide a results driven plan – not just a temporary fix. They are great to work with, and even more importantly, they “get it!”
Vice President Human Resources
We partnered with LSA to pilot a customized behavioral interviewing program to help ensure that we continue to hire the best and brightest as we continue to rapidly scale. LSA’s ability to understand our business and our unique culture combined with their desire to ensure that the best practices framework truly fits our performance environment and is highly adopted by our people is a real blessing. Most other firms want to just ‘give you training.’ Not LSA, they are focused on helping me hit our hiring forecasts and attract A players.
Director of Global Recruiting
I’ve been associated with LSA for the last 8 years and have found them to be an extremely professional, well managed full service training organization. Since working with LSA, I’ve participated in a number of solutions ranging from Performance Management to Assertiveness Training – I’ve found that the quality of the resources is superior. They are well prepared and have definitely done a considerable amount of pre-work in order to customize our culture and business into the total learning experience – making it most beneficial for our employees.
Human Resource Manager
We have worked with LSA Global for our learning and development needs and have always had great success. They helped us recently with customized Management Workshops that we held for the second time. It was fantastic, and I would highly recommend LSA to anyone that is attempting to get immediate and impactful improvements.
HR Manager, BU Radiology Informatics
Understanding and conforming to legal compliance was very important to our company. We turned to LSA Global to provide a quality and cost effective way to ensure that we were AB 1825 compliant. Their interactive eLearning program was top-notch. It allowed our managers to learn at their own pace, and on their own time. The program was tailored to include our logo and our internal harassment policies. It was interactive and met all federal and state legal requirements. I would highly recommend LSA Global to any company looking for an efficient and effective and top quality way to train their managers to be in compliance.
Kelly Warren, SPHR
Director, HR & Compliance
Over the years, both at 3Com and now at Redback, I’ve found LSA Global to be a valuable resource. The recent compliance program that they delivered for Redback’s executive and management team was the right solution, of the highest of quality, and customized to our business and culture. I would highly recommend LSA to any company looking for top quality solutions.
Vice President of Human Resources
Our company engaged LSA to do a specialized “train the trainer” program, and the consultant’s performance outdid our exceptionally high standards for such a program. Very crucial to the success of this program was the work done upfront to discuss our needs and to interview key members of our organization so that the program specifically met our goals. Our facilitators continue to comment on the success of the program. Thanks also for the follow-up.
Chief Financial Officer
I continue to be impressed by the level of leadership development and management expertise and quality of advice and facilitation that LSA has to offer. What a smart and client-centric group of great people who really know how to help leaders attract, engage, develop and retain top talent.
Director, HR Business Partner
I had been working with LSA for many years with my prior company. Currently, I’m with a company who hadn’t done much basic management skills training. After identifying and presenting a program recently, our managers are excited and talking in the halls about the great experience. LSA saves us time in delivering the right training for our needs.
Avon’s success is dependent on strong relationships among our Customers, Representatives, Associates, and outside resources we hire to help us meet our business objectives. We were very pleased with the results from working with LSA Global to design and facilitate a custom program for our events management team. LSA demonstrated responsiveness, flexibility, and an innovative approach to working with us.
Senior Manager, HR Destiny Sales Region
The LSA Global team was very receptive and flexible to our needs every step of the way. Their staff and facilitator demonstrated attention to detail, responsiveness, and professional courtesy. The participants were thrilled with the outcome and rated the communication skills workshop and the facilitator as ‘Excellent’. I’d highly recommend working with the LSA Global team to meet your professional development needs.
Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.
Want to know how you stack up against leading organizations? Receive a complimentary benchmarking analysis courtesy of an LSA Expert.
Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.
First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.
Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.
Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.