We’re all familiar with the 80-20 rule. More likely than not, 20% of your customers generate about 80% of your revenue. What are you doing to win more business with your most profitable customers?
Brent Holloway put it this way:
If 80% of your revenue last year came from existing customers, and the other 20% from new customers, then a 10% increase in sales from existing customers would have the same impact on revenue as a 40% increase in sales to new customers (8% company growth from either scenario).
Source: Sales 2.0 Blog
In a word, your current customer base houses your biggest potential payoff with the least additional effort and cost. Customer renewal, not customer acquisition, is the key to growth in today’s subscription-model marketplace.
The right tools will help your team spot and leverage these kinds of opportunities.
Make sure the sales 2.0 technology you select includes these features:
- Automatic cross-sell + up-sell recommendations. You’ve already done the work configuring a proposal. Make sure it includes every product and feature that your customer needs. Research shows contract deals can increase up to 30% when you use tools that recommend other products to include in proposals.

- Up-to-the-minute product information. Pricing options and product information can change frequently, especially when product bundles are in play. Your quoting solution should keep track of this information. That way, your reps will make the most profitable configurations the first time around.
- Integrated field knowledge. Your reps’ hands-on insight into customer needs and goals is your golden ticket to profit. Make sure your tool houses comprehensive prospect and customer information in one place, and makes it available on-demand. You team should be able to access field notes and other important data any time, anywhere when they’re generating sales quotes and sales proposals. A solution that’s native to the cloud has a critical advantage here.
When customer contracts are up for renewal, your proposals need to be accurate and competitive—while making the most of your margins.
For more information, check out our buying guide here.
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Posted by Lise’ McCarthy, Director of Sales Operations at Steel Brick.
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