Your best customers are your competitors’ best prospects. At The Center for Sales Strategy, we have long said that it’s much easier to fill the bucket if it’s not leaking from the bottom. Many companies have an incredibly large need to go out and get new business every month—mainly because they are losing 33% or more of their current business.
It's true… and while new business is certainly one of the solutions for curing the problem of not retaining existing business, it’s really only a bandage. The problem of account attrition needs to be addressed and quickly solved. Churning through clients quickly and not getting any sort of renewal will fatigue your sales team. Over time, they will lose confidence in what they are selling. Just imagine the revenue growth you might be experiencing today if you did not have all that attrition—and you still had the same amount of new business coming in.
It’s easy to blame the economy, the category, or the competitive landscape as the reason your business is suffering, but the true sales professional doesn't just look at the external factors that might be causing this situation. He or she also looks inward at her own systems and priorities to determine what could have been done differently to retain the business.
In the real world, there is a certain amount of business that might renew or go away that is really out of your control, but there is a lot of business that is absolutely in your control. It’s up to you to make sure you are taking care of your best clients, letting them know that they are important and, of course, helping them to overcome business challenges with the product or service your company offers.
Here are 5 things you can do to pay attention to your best customers.
- Set an appointment with them today to review what you have done for them over the last 90 days and what you are working on looking ahead.
- Write them a hand-written thank you note for being such a good client.
- Schedule a meeting with them to talk about 2016 and the new goals, objectives, and challenges they foresee.
- Bring them new ideas. Not the same old ones that you have always brought (and that they have always bought) but different ones that show them you are thinking about their business.
- Read a book that is directly related to their industry, and share your notes and thoughts, as this will position you as a resource to them.
Let’s hear from you…
What are some of the things that you are doing to show your best customers that they are important?