Originally published on April 19, 2019. Since we know a lot has changed since 2019, we’ve updated the article in 2022.
One of the best ways to grow revenue is to sell more to your current clients. My friend Mark Hunter likes to say, “You don’t close a sale, you open a relationship.” Once you get a new client (especially a new Ideal Client) the selling and marketing shouldn’t stop. With the right marketing and sales processes in place, your new clients can now become a source of additional revenue.
In order to get additional revenue from your current clients, you must earn the right. In this article, you’ll learn several ways you can do this.
ETR – Earn the Right!
This week I learned a great acronym: ETR! Earn the Right!
As sales professionals we must Earn the Right to further engage with our current clients.
- Sales reps close deals and move on. Sales professionals open relationships and follow through.
- Sales reps suffer from low customer retention. Sales professionals enjoy long-term relationships with their clients.
How do you ETR? Here are a few ideas.
Know The Client’s Business Goals
If you’re smart, you’ll open every sales conversation by asking about the prospect’s business goals and challenges. These goals will form the basis for the value that you present. Not only will this help you win the deal, it will set the stage for adding additional value and thus selling more products and services. If you understand your client’s business goals and challenges, you can recommend additional products and services to help them achieve their goals. Every business has multiple goals and challenges. I’m willing to bet that you have additional ways you could help.
Regular Business Reviews
The vast majority of salespeople close a deal and then move on. The true sales professional goes back after the deal to review the progress. A Regular (I recommend Quarterly) Business Review provides a regular touchpoint where you can:
- Reconnect with the client’s goals and challenges
- Review your progress in helping them achieve their goals
- Resolve any issues (there are always issues!)
- Recommend additional ways you could help
- Request references
All of this begins with connecting to their business goals. As you earn the right to move from being a vendor to a partner you not only protect your base, you uncover additional opportunities in the account. As a bonus, you can ask for referrals.
Your clients know, like, and trust you for the core products you sell. They may not know about your additional solutions and services. You can certainly discuss these during QBR’s, but smart professionals take it a step further by making sure to always share new ideas. This can happen on your social profiles. It can also happen by sending helpful ideas to your clients.
For example, the other day, I saw an article that I knew would be interesting to one of my long-term clients. I took 2 minutes and emailed it to him. That article helped his business and also opened up a conversation about his net-new business development strategy. I now have an appointment tomorrow to talk to him and his VP of sales about implementing a Strategic Prospecting System!
Are you taking your current client base for granted? Stop! Your top ten clients are your competitions’ top 10 prospects. If you don’t take care of them, someone else will! If you do take care of them, taking the time to understand their business goals and challenges, there is a good chance you’ll earn the right to sell them more!
*This article originally appeared on LinkedIn Pulse on February 21, 2019. The article was updated on March 18, 2022.