Most B2B leaders are enthusiastic about acquiring new accounts, but encounter frustration when it comes to growing revenue from existing clients. Despite continued effort, investments in technology and talent, existing accounts fail to exhibit the expected growth. In fact, B2B leaders even spend more time on client escalations than their B2C counterparts.
Other related challenges that you might face are:
Make no error, growing your existing accounts is not easy. In fact, existing clients know so much about you, that cross-selling and up-selling to them is more difficult than acquiring a new client.
Naturally, adding new clients is an easy way out. Unfortunately, having a large client base with small revenue contribution from each only complicates the matter for B2B organizations. In fact, they create long-term stress in the system.
Clients have to trust you to give more business. In other words, client’s perception about you should change from the tag of “Vendor” to “Preferred Vendor” and then to a “Strategic Partner”. This is illustrated in the below diagram.
For more details, refer to “The Client Centric Protagonist.”
To achieve this, you need a comprehensive system for B2B organic client centric growth. But most organizations have a broken system. By implementing or revitalizing a client-centric growth strategy, you will align business growth with client needs, transition from a vendor to a preferred partner, to a strategic partner and foster client intimacy among employees.
There are 7 organizational areas called the 7 Golden Threads and in each Golden Thread, you need to strengthen several important aspects.
Prioritized, organized, focused improvement of maturity of Golden Threads will lead to unlocking the full growth potential of existing client accounts and consistent growth for B2B organizations. This makes the whole goal a process and so predictable.
This program is for B2B businesses from Manufacturing, Industrials, IT, ITES, Tech and Pure Services with a clear intent to grow their existing client accounts. This is a 9-month immersive journey, our expert consultants help identify challenges and growth opportunities of existing accounts and craft a solid plan to put your businesses on a path to doubling account-based revenue in three years.
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