Friday Funnel Focus by EPOCH Sales Management Solutions
You know the answer to this question, right?
”Where is the easiest place to look for new opportunities? “
Your Existing Clients, right?
We believe that most, if not all prospecting and lead generation activities can be placed into one of five buckets.
- Grow Existing Clients
- Intentional Networking/Referrals
- Intentional Marketing
- Multi-Touch, Multi-Channel Targeted Outreach
- Speaking about Thought Leadership
Today we want to give you 3 pointers on the first one, Grow Existing Clients.
Pointer #1 - Make Raving Fans of Your Clients
We all know this, right? If we want to grow existing clients, it sure helps if they are raving clients.
But, who owns this? As a business owner, you want to ensure that your company is taking great care of the customers you want to keep. As you grow your business, your Operations and/or Customer Service teams need to own this. Account Managers (AMs) need to focus on not just maintaining, but growing your existing clients. We want our Sales Development Reps (SDRs) and Account Executives (AEs) focused more on winning new business at new accounts.
I get it. In the beginning, some people wear multiple hats.
Regardless, we must first make raving fans of the clients we want to keep, come back or help with referrals so we can succeed. Everyone needs to pitch in as needed. But, we encourage those people not responsible for creating new opportunities at new accounts to be the ones to own this responsibility as much as possible. Make Raving Fans of Your Clients
Pointer #2 - Prioritize Your Time with Your Existing Clients
As small business owners, time is precious for you and your team. When “Growing Your Existing Clients”, it helps to prioritize your time with your existing clients. Consider three things as you prioritize your time:
- Current revenue from existing customers
- Potential revenue growth from existing customers
- Risk of losing revenue from existing customers
Balance these three areas as you prioritize your time to maintain/ grow the clients you want to keep.
Sometimes, it pays to fire clients that are not good for your business.
Time is precious for your team. Prioritize Your Time with Your Existing Clients
Pointer #3 - Conduct Periodic Business Reviews
Over the years, we find that taking time to work on the business with customers in the form of a periodic business review does three things to help you maintain/grow your business.
- Periodic Business Reviews are a good time to gauge customer satisfaction.
- It is a great time to explore other ways you might help them eliminate other issues/problems or achieve important goals, creating new opportunities!
- When a business review goes great, you are in a good position to ask for referrals (New Opportunity Process Bucket #2)
What questions do you have about growing existing clients? Or what would you like to share? Feel free to reach out to us at sales@epochsalesmanagement.com with your thoughts or questions.
Next Friday, we share 3 pointers on Intentional Networking/Referrals.
Want to explore the process further, schedule a free 30-minute consultation.
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In the meantime, get our guide to the 3 Part Formula to a Healthy Sales Pipeline
