Are You Missing the Biggest Source of Revenue Growth?
Under constant pressure to grow their top-line, most B2B and B2C companies focus primarily on landing new customer and product revenue. But these companies too often overlook the greatest and most game-changing source of revenue: their existing customer base or client base. Unfortunately, for many companies, it’s all too common to find this happening each and every day
The probability of selling to an existing customer is 60 to 70%, while the probability of selling to a new prospect is 5 to 20%. Yet most companies focus much of their sales effort and revenue on it.
Existing customers are 50% more likely to try new products and services and spend 31% more, when compared to New customers or clients.
44% of companies have a greater focus on customer acquisition vs 18% on customer retention.
Customers will stay loyal only as long as you are delivering value. This means you are more challenged than ever to think differently about how you should manage existing customers or clients to avoid cancellations and grow your business at the same time
This is even more critical when we realize it is six to seven times more expensive to acquire a new customer than it is to retain an existing one and it takes 3.1 years to recoup the initial investment you made to acquire that customer.
Recognizing your need to continue to grow develop and retain your business along with the challenge we face trying to gain new customers. A Solution is needed. You need a method and process that can provide all three. Grow, Develop and Retain your business.
The Solution is in “Your Existing Customer or Client Base”.
If you want to tap into the revenue potential of your existing customer or client base while improving customer adoption and satisfaction, you need a program that provides a solution and understands how to navigate your constantly evolving market and unlock greater top-line opportunities.
Below is a Marketing Strategy and Sales Plan to help you Create and launch a “Existing Base Sales and Retention Program”
"EBS" Program Benefits:
- Minimize the opportunity for your competitors to gain your customers attention.
- Improve Retention and Customer Satisfaction
- Develop a Pro-Active culture and customer experience
- Identify products and services your customers could buy and ones they do not
- Make your customers feel they have a “special relationship” with your company
- Maximize your marketing campaigns and investment by gathering focused and targete