Turning Customers into Accounts
Question:
What is the easiest way to grow your profitable sales?
Answers: Sell more to your current customers.
Last
year, I sat with a sales force of fifteen and asked them to
list their top three growth customers, which I defined as
someone who was purchasing at least $100,000 in printing from
them and had at least another $100,000 in additional work
available that fit the plant. This was an important question,
since the printer had just moved to a new facility and had
the added capabilities to increase sales from $30 million
to $50 million without moving again.
When
each of the sales people had completed their list, I asked
them to circle the largest of the three opportunities. We
put each of their largest potential growth opportunities on
the board, and the total growth potential of those fifteen
customers was an amazing $47 million. In other words, if those
sales people could just secure the work they were qualified
to print from their #1 potential growth customer, the plant
would not be able to service it all at their new location.
Your
company's current customer list is the least expensive resource
for building new sales. Think about it. They know you. They
trust you. They are comfortable with your people. Do you know
who your largest potential growth customers are? If so, are
you executing a plan to double sales with them? What would
it mean to your total sales if you could?
Don't
just read these questions as hypothetical situations. Get
out your sales numbers and start asking some important questions
of yourself and your salespeople. Once you have identified
these valuable new sales resources, here is what you can do
to double your work with your largest potential growth customers
within two years.
In
order to secure additional sales from a current customer you
must execute a plan to do three things:
·
Tell these customers that you want to double your sales with
them and that your team of employees is willing and eager
to do whatever it takes to make that happen.
· Tell these people exactly what you are going to do
for them to make doubling their sales with your firm a worthwhile
venture.
· Execute a plan that makes also ensures that their
decision is a good business decision.
Here
is a list of sales activities you can carry out to capture
growth in your numbers:
·
Give the group a name. Call them the "Big Twenty",
or whatever other name gives them precedence. This will both
make them feel special and alert your own employees of the
importance that this client holds.
· Make a "Bible" of the quality specifications
that this client requires in each department of your company.
Put a copy in customer service, pre-press, the pressroom,
the bindery and so on.
· Put important information like register tolerances
and logo restrictions in pre-press and the pressroom.
· Put a quality assurance person in charge of inspecting
every job that these customers buy before it goes out the
door. Get them to hand-pick samples.
· Hold a quarterly seminar/meeting for these customers
and let them bring pertinent employees. I like breakfast seminars
because they are less expensive and can be done in-house or
at a near by hotel. Get your paper suppliers and other you
partner with to give updates on the state of the industries
that are effecting your customers. If you have invested in
new technology like computer-to-plate or digital printing,
focus your seminars on these topics and educate your customers
about how to use this new technology to make money and save
money.
· Have a social gathering at least twice a year. Take
them as a group to a sporting event or just take them bowling.
Invite your employees who work with them so that they get
the chance to deepen relationships.
· Have the president of your company commit to having
lunch with one of these important customers every week. This
opens the lines of communications and makes the customer understand
how important they are to your company's success.
· Develop a web site just for these customers. Let
them send files through it and keep track of their inventory
there.
· Institute a volume rebate program tied directly to
your goal of doubling sales with this group.
· Do a print audit of all these customer needs and
make suggestions to them on how to make money and save money
for them even if you don't provide the printing. Offer to
handle all of their printing needs if it makes their life
easier.
· Constantly brainstorm as a company on how to improve
the quality and service your company provides for these people.
The
bottom line of this program is spelled V-A-L-U-E. Create value
for your most important customers all the time and the dividends
will be immense. Put someone in charge of the program and
make this person's activities part of your regular management
review of how things are going in your company. Using this
system, you can turn all of your customers into accounts in
a measurable amount of time.
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