InTents August/September 2022 - 37

efforts made to generate new customers
beyond traditional advertising.
Growing your revenue begins with a
focused approach to doing the research.
Research is broken down into three
distinct parts:
* What you don't have
(new account acquisition)
* What you already have
(current customers)
* Mastering new technologies and
tools to connect with both
If salespeople are not constantly
doing research, chances are high they
are falling short on their goals (and
losing customers).
New account acquisition: The irst
question I ask salespeople when visiting
a business is " show me your pipeline or
list of prospects. " I am simply asking to
see a list they have compiled of potential
new customers that they are going after.
It could be in a customer relationship
management (CRM) program, on an Excel
spreadsheet, or handwritten on an oldschool
yellow legal notepad.
It is staggering how many salespeople
don't have a prospect list that they are
actively pursuing. It is even worse when
sales leaders do not make this crucial
activity a priority for their business.
If salespeople do not have a current
prospect list that they are attacking
daily, then what are they doing to
generate new revenue for the business?
Immediate red lag.
Building a robust pipeline of prospects
is an ongoing collaborative effort between
management and the sales team.
Prospect lists are generated by researching
new business opportunities, vertical
untapped industries, competitors' accounts,
referrals from existing customers
and other market intel. The list is always
evolving. An approved " hot list " of prospects
should be targeted each week for
discussion and follow-up. New account
wins are always celebrated.
Existing accounts: Your current customers
are yours to lose. Never forget
that. If you don't take care of them, they
will ind someone else. Salespeople
regularly proclaim about " how busy
they are, " but then act surprised when
they lose a large account to a competitor.
It is imperative they have an organized
plan to maintain these key customer
relationships with multiple people at
each top account.
Historically the top 20 percent of
customers make up more than 80
percent of the revenues for the business
(80/20 principle in sales). All salespeople
should have a plan to connect with
their top 50-75 accounts each quarter
with a non-sales-related interaction.
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InTents August/September 2022

Table of Contents for the Digital Edition of InTents August/September 2022

InTents August/September 2022 - Cover1
InTents August/September 2022 - Cover2
InTents August/September 2022 - 1
InTents August/September 2022 - 2
InTents August/September 2022 - 3
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