It costs 5x as much to acquire a new client than to sell to an existing one
5x! (roughly, for many industries)
Not to mention…
🔵 Existing clients know you (and they hopefully trust you)
🔵 You will most likely know who calls the shots and may even have a good relationship with them
🔵 You may be able to identify any new opportunities
Now, I’m not saying you should stop going after new potential clients, just don’t neglect the ones you already have.
So here’s a takeaway for salespeople:
Your job doesn’t end when you close that first sale, that’s only the beginning. The times that we are living in call on you to be farmers, not just hunters. When you acquire a client, work with customer success to help maximise the value they can deliver based on the client’s needs and objectives. Nurture that relationship with your customer by going above and beyond.