Did you know that it is 4 times more profitable to get more business from a current client than the first year of new new business. That’s a healthy profit margin, and one which many agencies almost seem to ignore, based on how quickly clients get tired of agencies and move on to the next one.
Growing organic business with current clients takes some imagination and a little spunk. Following are two ways.
- Get on the phone with people who are in your client’s channel – dealers, distributors, wholesalers, sales reps, etc. You should be able to get the names from directories, or even asking your client who they are (if they know). Once on the phone, tell them who you are and say you are looking for suggestions on how your client could work with them better. You will certainly get an earful on everything from pricing to packaging and all things in between. Guess what? Within those conversations lie the roots of any number of suggested projects, programs and upsells that you can bring forth to your client. They will be surprised and amazed at your knowledge and your interest.
- In the same vein, talk to your clients’ customers – what are they thinking, why are they buying or not buying, etc. Same result here. Talking to the customer is a sure way to increase your agency’s knowledge, capabilities and even power in the mind of the client.
The more you know, the more your value grows as it relates to your relationship with your clients.