Many businesses work so very hard to bring in a constant flow of new customers that they forget about their current customers.
I don’t mean the top 5 or 10% from which we all derive a large percentage of our revenue.
I’m talking about the lower and middle rung accounts for whom we do some work but don’t actively stay close or pursue them as aggressively as we should (aka try to get additional work!).
Here’s what you should be asking yourselves:
- Are you getting all of the work from your existing clients or are you leaving some work on the table for your competitors?
- Do you know as much as possible about their current business situation in order to determine if there is additional work to be done?
- Do your existing clients know about ALL of your products or services and do you remind them on an intermittent basis?
It costs much more time and money to bring in new customers than it does to retain and grow your existing ones. Filling your sales pipeline with new prospects is a sales activity that should never be ignored but mining the gold in your existing database should be a sales mandate as well.
Love the One You’re With….indeed!!!