Unlock your sales potential in 2013 (part 2): 3 ways to tap into your existing client base

When thinking about increasing sales, there's no better place to start than your current customers. This is where a good CRM system can pay for itself.

Acquiring new customers is critical for continued success but the easiest (and often most overlooked) source of revenue may be right under your nose. People in your existing customer base already know you so there is less risk and effort on their end. More importantly, perhaps, you know them! With complete customer information, you can present the perfect pitch.

3 ways to tap into your existing client base

To do this…	Consider this…
Sell more to existing clients           - more orders per customer           - increased spending per order           - additional products across other categories           - higher-priced products	Automated purchase follow-ups with discounts for complementary products / services (e.g., bundle training, consumables, spare parts, storage) Proactive trade-in offer for older equipment
Reactivate previous customers	Discounts for new products / services that meet their needs Targeted pitches that meet ongoing maintenance needs of competitor product
Get customer referrals	Incentives for new customer accounts (e.g., free storage, gift certificates, credits, free conference attendance)

Your CRM system is more than a customer database – it’s a strategic sales and marketing tool that enables you to expose trends and anticipate customers’ needs.

Make your CRM system pay for itself – key requirements

• Real-time, accurate customer data – such as purchase / interaction history, competitive information, contacts, credit limits, and outstanding deliveries – that’s fully accessible via mobile devices
• A 360-degree view across marketing, sales, and service to fully understand and proactively address customer needs
• Revenue forecasts and closing probabilities for each opportunity to align efforts with greatest profit potential
• Reports that clearly show key metrics – including  defections, average order size, number of orders per customer per period – to evaluate and fine-tune your efforts

Takeaway – don’t overlook this revenue opportunity in 2013

Selling to your existing client base opens doors to significant revenue opportunities for your company – and closes those doors for competitors. If your CRM system doesn’t enable you to effectively tap into this potential, then investing in a fully-integrated tool will garner fast, measurable return on investment.

Useful links related to this article

> Demo video (2:29) – Integrated CRM in SAP Business One

> SAP Product Brief: Win New Customers and Maintain Existing Relationships

> Ask an expert: Submit your CRM question