by Tim Roberts
It’s well known in sales management circles - It’s easier to grow existing business than pursue new opportunities – and less expensive. The challenge, however, is that seems to be the ticket to complacency. Clearly, salespeople will default to any activity before attacking the business of prospecting. Empty stapler? Better get that done. Update my Twitter account? Mandatory! Few keep their eye on the accountability ball even in the face of urgency.
Fine. If your strategy is to grow existing business, well then, what’s your strategy? How, exactly, do you pursue new growth? How, exactly, do you navigate the complexities of your “A” accounts – determine the need for new products or services? How do you determine the 1, 2, and 3-5 year growth patterns of your clients? How do you determine which accounts to Keep, Attain, Recapture or Expand (your K.A.R.E. package)? How do you designate which team members are involved at what level? How do you designate who will be responsible, accountable, consulted or just informed? How long do your existing account strategy sessions last?
Going wide and deep with a client is serious business. Yet stories abound whereby otherwise competent sales organizations default to past patterns of winging it.
The pursuit of new business is honorable work. Navigating a complex sales process requires gained intelligence and mental horsepower. Growth opportunity tools and templates remove the guesswork.
Companies that wing their existing account strategy end up losing ground. When they lose ground, they lose profit and margin. When they lose profit and margin, they lose key employees and morale suffers. When morale suffers, they ask poker buddies for advice. When they ask poker buddies for advice they end up in a Turkish bathhouse with Charlie Sheen. Don’t end in a Turkish bathhouse with Charlie Sheen.
At Sandler Training Trustpointe we help our clients plan strategically. To learn more about K.A.R.E. packages, our Growth Opportunity Booster tool and crazy poker-buddy advice, contact Tim Roberts at 317-845-0041 or tim.roberts@sandler.com.
Charlie? Is that you???
(With apology to really good DIRECTV commercials)
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