customer acquisition is not the same as
keep and grow existing customers to drive long-term value
Analysts estimate that existing customers now account for 70–80 percent of company revenue and profits. Yet, very little purposeful effort has been aimed at leveraging existing customers as a growth engine.
In fact, almost 60 percent of B2B organizations don’t see any need to differentiate their approach between acquiring new customers versus keeping and growing existing customers. They simply use the same approach, regardless of customer relationship.
But new research proves that the buying psychology in renewal, upsell, and cross-sell conversations is 180 degrees different than in acquisition conversations. And if your reps don’t tailor their sales conversations to meet these unique pressures and demands, you’re putting most of your revenue at risk.
defend your customer relationships
Our research shows that disrupting or challenging your customer during a renewal or upsell situation is the exact wrong approach—one that could drive a good customer straight into the arms of your competition. Using the same messages in both situations makes your customers 10-16 percent more likely to shop around.
With Expand Value™ training from Corporate Visions, you’ll equip your team with research-backed messages and skills to defend your incumbent position from competitors, strengthen the relationship, and win more renewal, upsell, cross-sell, and price increase conversations.
Expand Value skills training
Only with Corporate Visions can you give your salespeople the skills they need to answer the questions your customers are asking in four critical buying moments:
Why Stay – Why should I renew with you?
Why Evolve – Why should I buy even more from you?
With a mixture of online training and ongoing coaching reinforcement, you can train your entire organization to engage customers across all these pivotal moments.