LSA Global Insights Newsletter: April 2022

April 30, 2022

How to Grow Revenue from Existing Accounts Faster



A Proven Way to Increase Revenue and Margin

 

Savvy sales managers and leaders know how to increase revenue from existing customers because, when compared to acquiring new customers, Bain and company found that on average:

 

·    Retaining current customer accounts costs almost 7x less than acquiring new customer accounts.

 

·    Current and repeat customers spend 2/3rds more than new customers.

 

Sales Context + Strategic Account Planning

Outperforming B2B sales organizations do two things that their lagging peers do not.

 

First, they ensure that their sales strategy and sales culture are defined and aligned to grow existing strategic accounts. This includes:

 

·    Identifying your ideal target client profile so that your sales team is not wasting time trying to serve the wrong customers

 

·    Defining your unique value proposition that clearly sets you apart in the eyes of those ideal target clients.

 

Customer accounts that fit you and your business create repeat purchases, provide referrals, and supply testimonials to help grow your top line profitably.

 

Second, outperformers double down on three critical strategic account planning tactics.

 

 

 

VOICE OF THE CUSTOMER

 

John Ferguson

SVP Sales

Getty Images

"Within a year of implementing the complete strategic account development process, revenue growth within existing accounts grew 46%.

 

Thank You!"

See More Testimonials

 

 

 

Toolkits for Sales Leaders

 

Proven tools for sales leaders to boost performance

Proven tools for impactful sales training

 

 

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