413: Benefits of Marketing to Existing Customers | Master Sales Series
The probability of selling to existing customers is 60-70 percent, and the probability of selling to a new prospect is only 5-20 percent.
Master Sales Series is back again; we are reviewing the benefits of marketing to existing customers. As sales professionals, we put a ton of effort into lead generation, but we miss out on opportunities by ignoring the customers we already have. We will go through these five steps:
- What are the benefits?
- Before you sell - re-discover
- Marketing to customers in the retention stage
- Marketing to customers in the advocacy stage
- Onboarding at every stage
Studies show 65% of a company’s business comes from existing customers, but most only spend 21% of their marketing budgets on customers they already have. It's so important to redirect some of our time and effort towards customers who already see the value. They will thrive, and so will you.
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