Merger and acquisition activity, a dramatic rise in value-added services, and the expansion of solution sales have increased cross-sell demands for sales organisations. Despite having a significantly expanded portfolio, only 28 percent of sales leaders report that their existing account channels regularly meet their growth targets.
Today, managers at most sales organisations try to grow existing accounts through the same activities they have always relied on to renew business and maintain accounts: delivering high-quality service, increasing the value from product/services sold, and exceeding customers’ expectations. However, with the evolution of large-group consensus buying, the impact of customer relationships has significantly decreased.
In fact, what our research revealed is that the traditional formula for success in retaining customers is not only ineffective but harmful to supplier organisations’ efforts to grow accounts. In contrast, the single biggest driver of incremental growth in existing accounts is delivering customer improvement.
High-performing account teams both retain and grow existing accounts by laying out a vision for how the customer organisation can improve their business in the future, offering a unique yet critical perspective on how to achieve that improvement vision.
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