Everyone seems to be focusing on getting more customers primarily. It doesn’t matter what size the company is, they’re focused on increasing their customer base. I can see 2 easy avenues for growing revenue that most companies are missing.
- Leveraging existing customers for referrals could be a game changer. Asking for referrals can be so simple.
Finding out who your contacts are connected to and then asking if you can send an email to their connection and copy your contact, is an effective way to integrate a referral system to your sales process.
The best thing is that doing this doesn’t increase headcount, it doesn’t add new products and it doesn’t extend the sales cycle.
84% of customers are starting out as a referral. The transfer of trust from a referral carries through and that shortens the sales cycle. But only 28% of sales reps utilize referrals as a lead gen method.
2) What is your upsell, cross sell and expansion plan. Again, these types of sales have a shorter sales cycle and the trust factor is already there.
Integrate a system that allows this sort of growth plan. Have a point in the customer journey where you show your client what other areas you can help them with. This can be done 2 ways:
- You can ask questions and uncover new needs.
- Manufacture new opportunities by expanding existing solutions across departments.
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