You market to prospects and you’ve won new customers. Excellent! You measure your success and track ROI. Is that were it ends? Do you market to your existing customers as well? What’s the marketing ROI for Account Management efforts? Generating additional revenue from your existing customer base not only makes sense, but it’s easier and more cost effective than generating revenue from new sources. With the right Account Management approach, CRM system and follow through you can increase the flow from this specific revenue stream.
3 Simple Account Management Ideas to Increase Revenue with Existing Customers
- Invite Customers to Join Exclusive Communication Channels - By giving customer-only access to invite-only YouTube, Facebook, LinkedIn and other social media outlets you customers will recognize the special treatment they’re receiving and likely remain as a customer longer and buy more from you.
- Provide Customer-Only Content and Special Offers - Sustain healthy communication by providing customer-exclusive content and special offers. Allow the customer to determine the specific topics of interest by need or product line, then customize the content accordingly.
- Have a Follow-On Business Pipeline - In addition to your New Business Pipeline, you should be tracking upsell and cross-sell opportunities with existing customers separately. By having a follow-on only pipeline you can make more informed Account Management decisions and more accurately calculate ROI of your customer-only marketing efforts.
Since selling to existing customers is more profitable than obtaining new customers, it’s important to assist with a successful account management strategy and to leverage leading solutions, such as Dynamics CRM to ensure success. Are you ready to hear more? Please contact us today and we'll talk with you about CRM solutions to fit your unique needs.