When it comes down to it, sales people have to maximize the following two core strategic areas for success:
1. New customer development.
2. Penetration and retention of existing customers.
New customer development, or lead generation and conversion, is pushed now more than ever. Marketing automation and CRM software in conjunction with inbound marketing is a major reason. Unquestionably it adds tremendously to the effectiveness of this strategy. This is exciting technology and importantly is within reach of any size company.
This post, however, focuses on the penetration and retention of existing customers. It's known that this strategic focus costs four times less than new customer development. These are customers who buy already. They are the steady source of revenue for the company, and are the consistent contributions to sales person income.
The key is to implement effective technology to drive this strategy. Marketing automation, and CRM software is very powerful for penetration and retention of existing customers. This is especially relevant with transaction selling in product areas such as office supplies, janitorial supplies, building supplies, medical supplies and many others. Here is the essence of this powerful solution:
Business intelligence software such as sales-i is synced with a company's ERP system and receives current sales information nightly. The user extrapolates this information into unlimited levels of granularity. The result is unlimited graphical reporting and campaign creation.
The campaign creation is at the core of the penetration and retention strategy we are discussing here. As an example users can ask the business intelligece solution for information such as the following:
The potential is virtually limitless. What is also limitless is how this campaign information is used. The campaign is sent to marketing automation software such as act-on. Unlimited email marketing campaigns ensue that include timed series of emails and subsequent scheduling of sales person follow up within a CRM system such as SugarCRM. The CRM also receives information telling the sales person which emails were opened and how often.
Many companies don't have this kind of technology in place. Sales people work with their customers and talk about maximizing product sales but do it without the levels of information needed. The technology discussed here provides the level of information needed within the sales process to always let sales people know where they have been with a customer's purchasing levels, where they are now, and where they need to go to drive more business. The results are unquestionably more sales revenue for the company and more income for the sales person