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Sales Techniques and Other Useful numbers

21 Aug 2011 | Posted Under Sales

When it comes to sales, everyone knows that your best customer is your existing customer.  Sales plans focus on this type of customer and we know that 70%of customers should repeat. 


The area that we tend to ignore and don’t create enough selling time around are ‘lapsed customers’ and the mistake that we make is that we assume we know why they left in the first place and the common thought is that they found your product/service cheaper elsewhere.


Customer Engagement Steps Up


The numbers speak for themselves.  20-40% of folks will buy again; versus a close rate of 5% on new. 


It makes sense to put in a sales and marketing plan and strategy to both win customers back but also to understand why they left in the first place. For example:


74% of folks leave because of bad customer service

32% leave because of quality issues

25% do leave because of price

13% leave because their needs change


Business Strategy to Win Back Business


First identify what was the real reason they left the organization and then address that reason by asking great questions, embrace good listening and confirm that a solution you recommend is the right one for the individual and the company. Don’t just assume it is price and start dropping prices all over the place! 


 This is the business strategy that will win back business. 


Also, make sure you dig deep enough to identify ensure that what you heard is the right reason.



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