Most sales leaders talk too much about new business development. The truth is: they would be better off yapping less about selling new customers and yapping more about growing existing customers.
Here are five selling techniques you can use to grow revenue without selling new customers:
1. List your current customers from top spender to bottom. Spend more face time with the top 25%.
2. Find five accounts with significant spending upside in the remaining 75% of your list. Hyper focus your upsell efforts on these accounts.
3. Talk to every existing customer in the next 30 days. Look for one problem they need help with, and develop and sell them a solution to the problem.
4. Ask each current customer for an internal referral to someone else in their organization who could benefit from your expertise.
5. Give three current billing accounts to somebody else. Dump accounts that spend little and eat up valuable time (this will free up time to do the other things on this list).
A sales strategy designed to increase revenue from existing customers will pay dividends—and muffle the barking about new business development.
Kurt Sima is a VP/Senior Consultant at The Center for Sales Strategy