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We've all done it... spent way to much time chasing up hot, lukewarm and even freezing cold 'prospects'.
What about opportunities with existing clients?
Gap Analysis.... It's not too tricky. Life moves on, service offers change. We all need to be sure our customers actually know how we can help them.
- What 'services' do they buy from you at the moment?
- What 'services' do you have that existing customers aren't even aware of?
Missing the obvious.... Are they buying anything similar from one of your competitors? If you ask them they will most likely tell you. This is a genuine comment from a 'top customer' we interviewed on behalf of one of our clients.
"We spend £5-10K every month…. we could quadruple the amount of business we do with them."
They then went on to say how this could happen. Making it very easy for this supplier to 'quadruple' the amount of business they did with one of their key customers.
The reality for most businesses is that the 'marketing' budget (if there is one) would be better focussed on 'customer engagement'. Surely this is better that trying to raise 'brand awareness' with complete strangers, most of whom will have little or no interest in their services.