Expanding Customers: Mining the Gold in Your Top Customers
Sometimes the easiest way to increase sales is to leverage your current customers and grow these accounts organically so they meet their full potential.
This is especially helpful in your top tier customers. Oftentimes, especially with your larger customers, there are almost always other divisions, other departments or other decision makers that you don’t even know exist. Drilling into these possibilities via account mapping is not only a good idea, it is just common sense.
Let’s talk about specific projects that expand your customers.
Account Mapping is a powerful tool and often gives our clients the greatest ROI. We unearth as many points of contact in one company as possible, piecing together their organization and almost always uncovering potential business of which our clients had no previous knowledge. Connects will work with your sales team to ensure consistent messaging and a powerful strategy for:
- Identifying new contacts and decision makers
- Discovering new projects and programs
- Understanding the needs of your customers
- Determining the level of satisfaction of your customers with your products and/or services
- Mapping out “the lay of the land;” who does what, where
- Identifying other locations or divisions to replicate success
Account Mapping, along with the customer satisfaction element, give the most significant ROI. Known customers are already set up in all of your business systems. You know all of their purchasing and shipping preferences, etc., so every new piece of business is incrementally profitable.
It’s in conversations with these customers that you are likely to get your most valuable information. For example, Customer X will say, “I spend 50 percent of my dollar with you. I’d spend 100% with you if you improved X.”
If you make the improvements that these customers note in your general business activities, it’s going to help in all of your accounts.
Account Mapping gives you the full lay of the land of your existing accounts. There is an extensive amount of research that goes into these projects, but there is also a wealth of information that is harvested through quality conversation and active listening.
Mapping: It Works!
One of our clients decided to have us map one of its established, top tier customers. The customer, a large aerospace component manufacturer, had a dedicated sales manager who was responsible only for this customer’s account.
During the account mapping project with Connects, it was discovered that this customer had a whole sub-division, on the same campus, which our client had never even heard of before.
Our client was able to break into this sub-division, made easier by existing vendor approvals and a proven track record with other parts of the customer’s organization, and gain substantial new business.