>Let me share a secret – the easiest prospects to sell to already buy from you. The best prospects are your existing clients, and the only reason they are not buying more is because you are not selling. If you want to make selling “easy” (I am all about making things easy) then sell deeper, wider and more to your existing clients. I know it sounds crazy, but most sales people sell one product or service to a prospect then move on to the next. Leaving the total needs of the prospect unmet, and the door wide open for their competitors to come in and steal the relationship.
Take a moment, and sit down right now, pull out a pen and make list of all the products and services you offer. Then make a list of your top thirty customers. Then match the products or services they need to the number they buy from you. I will bet, for most of us, the number of needs they have far outweighs the number of products and services they buy from you. Ouch! Wait – there is good news! It is not too late – you have just created a great prospect list. One that is going to be easy to sell. Again, I love easy!
First, these “prospects” already know your company and consider themselves your customer. Two, they already know you and would welcome a call from you. Three, they have purchased from you in the past, and most likely trust and value what you tell them – closing the next deal should be a piece of cake!
Why create a prospect list full of your existing customers?
There are a number of reasons, but here are the best:
- One, your bottom line. My personal favorite! It is expensive to attract new customers and there is no guarantee you will land their business. The cost of attracting new customers can be as high as seven to nine times as expensive as to sell to an existing client. In addition, by selling more to existing clients you are assured that they will remain your customers. The more products and services they buy, the deeper the relationship, the deeper the relationship the less likelihood they will move their business. This is the difference between production and growth. Production is nice, but it does not sustain the company!
- Two, your personal fear or distaste for cold calling. For most sales people, the most stressful part of the call is the beginning. Getting in the door and establishing the relationship. Making that first sale. With existing clients that part is over. You already did all the hard work, why not sit back and reap the rewards. Why not make selling easier by calling on your existing clients? Let your competitors cold call, let them get stressed out and burned out, you call on your existing customers.
- Three, your reputation. As a sales person your customers place their trust in you. If you continue to share information with them and offer them products and services that benefit their business that trust and value will grow. You will move from just their sales person to their advocate and trusted advisor. Plus, there is nothing more embarrassing for a sales person, then to have a customer tell you that one of your competitors offered them a product (that you offer yourself) that would benefit their business, and they wonder why you never mentioned it.
- Four, because they will start to call you. The better you take care of your existing customers, the better your reputation. The better your reputation, the more your customers will call you. They will actually be trained to do that. You will have taught them that when they have a need it is you they need to work with to fill it. Why shouldn’t they, you seem to have all the answers. Then, this gets even easier, they start telling their friends, their neighbors, perfect strangers to call you. Next thing you know you show up at the office everyday, and you are covered in business all without making a single sales call. Life is good!
The top half of your prospect list should be filled with your existing customers. There is “gold” in those relationships, and it is your decision whether you want to hit the jackpot or whether you want to leave it all on the table for your competitor! If you want to turn your prospects into customers, then start by calling on your existing customers.