How to Grow Existing Accounts Faster

grow existing accounts faster by focusing on them

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

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Blackhawk Network

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.

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Vice President of Human Resources

LSA custom designed a Management Development program that is absolutely “on target” for our technical managers. Their facilitator has done a superb job delivering the material in a way that is fast paced, highly interactive, and fun. She presents practical solutions to the people situations that our managers face every day. I regard LSA as an excellent partner that understands our business needs and a virtual member of our HR department.

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Vice President Human Resources

Hyperion has a commitment to lifelong learning. LSA helps us provide the right business sales training, management training programs, and leadership development programs at the right time to meet the needs of both individuals and departments. I especially appreciate their ability to listen to my needs and recommend the appropriate facilitators, solutions and content.

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Senior Project Manager

Hyperion

LSA helped us design and deliver a blended learning solution for our leaders to help drive our growth plans in a way that aligned with our specific culture and values. LSA understood our business, had deep expertise in the content areas, tailored the programs to fit our specific needs, and delivered great results. They constantly strive to deliver business impact and align their solutions with our business initiates, culture, and performance management systems. I highly recommend them to anyone looking to take their leaders to the next level.”

Beth A. Taylor
Vice President of Human Resources

Thoratec

LSA’s consultant designed and delivered a half-day team building solution for our recent conference. It included careful customization to integrate the design with our new mission and values. Everyone had fun and identified key issues with our teamwork. Altogether a great program!

Bob Ward
Director of HR

For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!

Elizabeth Siebert
Director, Organizational Excellence & Development

Intuit

LSA Global’s consultant brought a fresh perspective to our behavioral based interviewing strategy for two key executive positions we needed to fill, and their consultant helped us develop questions that produced a much deeper understanding of candidates’ capabilities. I am confident that the two new executives joining our organization have the right skills to add significant value. Throughout the process LSA was also very responsive in dealing with short lead time requests.

Because of the unique nature of our business, Excel is a core application in our accounting organization. After three attempts to find an Excel consultant who is capable of helping our finance team integrate advanced applications into our work processes we found LSA and Alex. He was not only a “Real” Excel expert but was masterful in helping us identify where to use Excel applications in our processes to increase our group’s efficiency.

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Kim Silva, CFO

I have worked with LSA Global at previous companies and welcomed the opportunity to bring them in to support my new organization. We worked closely with LSA to design a solution for our Client Partner Teams and Management Training on both coasts. LSA designed a customized solution for our business and organizational culture. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner that makes an impact.

Laurie Torres
Chief People Officer

We value our relationship with LSA Global. We came to LSA because we wanted to improve overall behavioral based interviewing capabilities of our managers to increase the probability of both hiring top talent and future leaders. LSA designed a highly customized solution for our business and culture. We are currently rolling out this solution to our leaders. I would highly recommend LSA Global as a top quality resource.

Rae Phillips
HR Project Manager - Training & Development, PHR

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.

Tracy Esposito
Director, HR Business Partner

Here’s a token of my appreciation for ALL your efforts. I’m offering my most sincere appreciation, and it extends to all the folks who made our customized management development programs possible.

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Workforce Planning Bureau

In my years working with LSA, it seems like I’ve had a personal consultant at my fingertips to help me identify just the right solution to satisfy our needs. The entire LSA team has become a trusted friend of Actel — assuring we provide state-of-the-art learning to meet our complex, high-tech business and people needs.

Linda Mitchell
Training Manager

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Vice President, Information Technology

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