Could your customers be doing more business with you?

There are varying statistics on how much cheaper it is to do new business with an existing customer than to win over a new prospect. Irrespective of the metric you use, are you confident you are doing the best you can with the customers you have already?

Why not look at each of your accounts in the context of the following questions? Unless you can answer it 'yes' to all of them, you could be missing an opportunity.

  • Do you understand what percentage of your customer's available spend you have already and do you have a strategy to capture more?

  • Do you have a multilevel contact plan in place so that your brand, offering and value is recognised across your customer's organisation?

  • Do you conduct regular reviews with your customer that not only looks at the business you are doing, but that shares your insight as to what they might leverage from the broader market?

  • Do your account managers know that they have the support of your entire business as they need it to help them develop their customer relationships?

  • Does your customer really understand the breadth of what you might be able to do for him?

Without doubt, a regular revenue stream and minimal customer complaints is something to be grateful for in today's climate. But perhaps addressing one of these five questions could help make you impossible for your customer not to do more business with.