1.Add more customers at a good, solid margin.
2.Serve those customers even beyond their level of expectation.
3.Sell those customers more and then utilize those happy customers as referral sources.
Let's take a look at each of these strategies and some of the secrets behind implementing them. As we do that, we'll also examine precisely why each one is so important.
1. Growing your customer list with more customers at good margin.
There is no secret that an ever growing customer base is essential to the success of any business venture. But remember, it is not growth for its own sake that is valuable. All business is, simply, not the best business. Sales has always been much more a function of margin than of pure volume. And it will always be that way. However, coupling good volume with profitable margin is the real key. How do you accomplish this two-pronged goal?
- Constantly prospect in as many proactive ways as you can.
- Be concerned about properly positioning yourself, product and company.
- Constantly re-think, re-tool and refine your organization. Whether it is focus, price or differentiation - be sure to maximize it to your advantage.
2. Service those customers you acquire beyond any reasonable level of expectation they could ever have.
Quality service is essential; however, breathtaking service coupled with an internal knowledge of your customer's deepest needs, greatest fears, impending problems and then anticipating them will establish you as a valued business partner who is an indispensable member of your customer's team. When it becomes far too burdensome for them to replace you, your level of service, knowledge, and support, then, and only then, will you have achieved the level you want. How do you do that?
- Never take any customer for granted.
- Constantly monitor your performance as it relates to delivery, service, anticipating and solving customer's problems and monitoring their level of satisfaction.
- Maintain frequent contact and look for additional opportunities to facilitate the use, value and understanding of your product or service.
3. Vertically integrate your accounts and make them feel good about referring you to others.
Everyone knows that it is far less expensive to sell existing customers more than it is to constantly find new customers. It is also less daunting. There is also little doubt that your chances are significantly enhanced at doing business with someone who already knows you. However, how often do you overlook this valuable asset you have worked so hard to earn? How do you maximize this opportunity?
- Seek every opportunity to look for other, varied ways you can assist your customer. Other divisions, branches or affiliates…acquisitions…new products or old products reconfigured in new ways to existing accounts are just some of the options you have.
- Maximize opportunities to educate your customers through activities such as user's conferences, clinics and related functions. Remember, the more your customers know about your product or service, the more they'll use it.
- Actively ask existing customers about others whom they know who could use your services. Make it easy for them - suggest names of others and ask their help. If you have exceeded their expectations they will be happy to help you.
You have the opportunity of a lifetime; the opportunity to grow your business or territory. However, these strategies are not for the lazy, self-satisfied, self-centered or timid. They are the strategies of sales champions we've seen use over and over again.