Win, Retain and Grow is a well known mantra in the sales world!
Yet when organisations grow at speed the desire to acquire new logo’s often sucks resources away from retaining and growing the existing customer base.
This strategy more often than not works when companies are in a “green field” market where there are an almost unlimited supply of new prospects.
But eventually this strategy will become a key inhibitor of growth for a number of reasons
- Their market will eventually tighten, as the number of prospects reduces as the market becomes more saturated,
- Competition for prospects will always increase as more products / services come to market that solve the same customer need.
- The more customers you churn, the more your reputation is “tainted” by past customers who influence other buyers in the market. Making it harder to gain market share.
- If there is not a “retention foundation” built on a satisfied customer base, the capacity to upsell to a receptive audience will be limited.
We talk about practical strategies companies can employ to protect their existing customer base by building a strong foundation of “customer satisfaction & value”.
Key Areas of Discussion with Rebecca:
- Why an “account plan” is the foundation of a great retention & expansion strategy
- How do you motivate the different stakeholders in an account to contribute and collaborate?
- How to use adoption and usage information as the catalyst for a change in the account management strategy
- Having the courage to ask the client “how” they feel about their investment in your solution
- Taking the time to assess and discuss ROI of existing customer investment
- Why staying alert to M&A in your customer base will allow you to see post acquisition / merger “churn threats”
- Taking time to think “what’s the next thing” you could be doing to support that customer or add value.
About Rebecca Bell:
Rebecca Bell is the Director of Operations at ZenDesk, where she helps the Head of Revenue “get stuff done” (in her words) She is also a member of the Global Board of Advisors for the Sales Enablement Society.
With more than 20 years’ experience across a range of marketing, strategic planning, communications, sales acceleration and enablement disciplines, she excels in building teams and strategies that accelerate business success and create advocacy.
Rebecca is a fantastically clear communicator that always shares practical and readily applicable strategies that listeners can apply in their own businesses today.
Rebecca’s Dream App:
Rebecca feels that it is very hard for revenue teams to track all the customer data and insights from all the internal and external sources.
She would love an app that allowed a team to track external data “market insights, staff movements, competitor activities along side internal data such as relationship quality, product usage in one dashboard.
Rebecca’s Book of Choice:
How to use dissension, disagreement in your daily life to get the positive out comes you want.
Rebecca’s Boxset of Choice:
After fleeing an abusive relationship, a young mother finds a job cleaning houses as she fights to provide for her child. A great insight on how many people exist in the hinterland between society and survival.