HARDISON’S TIPS – MARCH 24, 2021 – Sell More to Existing Accounts – 1

HARDISON’S TIPS – MARCH 24, 2021 – Sell More to Existing Accounts – 1

One of the biggest untapped opportunities to increasing sales and profit is growing your existing accounts. Consider:

  • Retaining current customers is 6 to 7 times less costly than acquiring new ones (Source: Bain & Company)
  • Repeat customers, on average, spend 67% more (Source: Bain & Company)
  • 60% of companies believe they should be generating 25% or more revenue from strategic accounts

The question is not if you should be selling more to your accounts, it’s how should you do it.

Here are some tips to get you started:

  1. Select the Right Accounts: Not all customers are created equal. Certain customers—whether they’re bigger, in a certain industry or location, a stronger relationship, or just more open to new ideas—have greater opportunity for growth. You can even ask customers if they would like to engage in a more strategic relationship with your company. In our experience, most buyers react positively when approached with this idea, and become more likely to entertain additional conversations with you.

The first step in your account growth process should include targeting those accounts with the greatest opportunity and then developing a specific plan for each customer. A spray and pray approach does not work for real account growth.

  • Know Your Customer’s Business and Strategic Agenda: I’m not just talking about the part of the business you’re involved with, but their entire business. What are their corporate priorities for the year? What are the big hurdles they are trying to overcome? What are their goals? Who are the key players?

Sellers and account managers often say to us, “We know our accounts’ business very well.” But when pressed, they often have a long way to go when it comes to strategy. If you can uncover your customer’s priorities, you’ll have a much better understanding of where and how you can add value—and the areas in which they are willing to invest more. Simply by having conversations about the big picture, you’re likely to uncover opportunities where you can help.

  • Strategize Internally: Growing accounts takes an investment of time and resources. You can’t expect to call an account, introduce a complementary product or service, and have them sign on the dotted line. Serious account growth requires a well thought-out plan that is customized for each account.

For large accounts—both existing and new—we implement a value discovery session. This is a session where we brainstorm ways that we can bring additional value to our accounts and develop a plan to do so. During this process we bring together a team of internal resources to cover each of the 8 roles required for account growth. Bringing together the thoughts and perspectives of your internal team can be tremendously valuable for your accounts.

From his success on the sales floor of an automotive dealership  to becoming a veteran trainer and then the adoption of technology for Internet-based marketing, his career has evolved to deliver the skills and tools needed to help consumers. Richie Bello combined his automotive expertise with his robust desire to “take care of the customer first” to become an automotive influencer, published author, and renowned trainer.  Bello absorbed the wants and needs of consumers as he worked up the ladder of the automotive industry.

Over the thirty-five years of his career, he developed strong Internet marketing skills, leading him to developing software solutions that create ease for consumers, and helps dealers improve relationships with customers. Innovation drives success. And, for Bello, it’s in his DNA. took years to come to consumers and arrived in a timely manner, during the 2020 Pandemic. With over 6 million vehicles on the site, features that help consumers deliver, finance and warranty, Bello has met the retail digital age head on.

Bello also is founder of Richie Bello Institute of Leadership and Management, a 501C3 not for profit, dedicated to the recruitment, education and employment of veterans into the automotive industry. Visit


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