WORK YOUR BASE
Researches regularly prove that 20-30% of new business is being generated from your existing customers. And it is probably the most repeated point in all possible sales and business development trainings. How many of us though do follow the advice of maintaining your existing customer base?
Surprisingly, this is one of those projects that often gets pushed back due to the day-to-day pressure of closing new deals. Whenever I speak to an MSP Partner or any other company and ask them “How many customers do you have in your base?”, if their response starts with the word AROUND I know there is a problem…
I have witnessed the situations of mergers and acquisitions when business owners found out in the audit details that they have lost about a third of their customers over the years and didn’t even know about it.
And yet, it is one of the simplest things to do – maintain your existing relationships with the customers.
Besides of your regular content marketing and automated communications, set up several simple tasks to your reps, an executive team and yourself:
- Assign the entire executive suite including the CEO/owner to pick up the phone and call two existing customers every day. Just say hello, ask how they are doing and how business is going. Thank them for their loyal business and offer to be in touch at any time they need anything.
- Assign your sales/account reps and other team members who are involved with the customers the same task to keep the same dynamic on all levels of communication.
- Everyday, speak in person or on the phone with three people you have never spoken before. I promise, it will expand your world.
I have followed these rules throughout my career and every time have found that it helped me grow the revenue by at least 30% from just an existing customer base (not including referral business) while keeping customer retention loss below 2%. This exercise also helps keeping your eyes on the current trends and customers’ desire to move on with the solutions that have been of your radar.
Director of Channel Sales,