5-minute sales training video:
Nearly every salesperson knows that it’s easier and costs less to sell more to existing customers than to find new ones.
No business can thrive without a new customer pipeline – but the figures are stark: when you cross-sell or upsell existing customers, you have a 60- to 70-percent chance of success. By contrast, the chances of selling to new prospects are just 5 to 20 percent.
So what’s the best way to grow existing accounts?
According to research, 88 percent of salespeople and other account managers believe great service and support are the keys to account growth. They’re dead wrong.
The research found that top-drawer service contributes to account retention, but has no effect on account growth.
So what did the research say works for growing existing accounts?
In this video, you will learn:
- Why the service approach to account growth doesn’t work
- What does work to grow accounts, and
- Three steps you can use to create win-wins for you and your customer
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Rapid Learning provides online training and talent development tools for businesses, government agencies, nonprofits and educational institutions in the areas of sales, leadership and management, human resources, employment law compliance, and workplace safety.