Increasing business with existing accounts could be the holy grail of sales.
Consider this: Revenue from existing customers accounts for more than 70% of total results at companies across industries, geographies and business models, the most recent CSO Insights Sales Performance Report found.
Sales leaders say increasing penetration into existing accounts is one of their top objectives in meeting goals. Why do they rely so much on the potential in existing accounts?
“Revenues are often more predictable than other sources and ideally, as the incumbent, (you) should have an advantage when it comes to renewing business,” say researchers Tamara Schenk, Yuri Dekiba and Seleste Lunsford.
Your accounts are good, but they could be awesome.