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The Expansion Sale

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The Expansion Sale

Four Must-Win Conversations to Keep and Grow Your Customers

McGraw-Hill,

15 min read
8 take-aways
Audio & text

What's inside?

The supposedly best selling practices may not be the best. Try science instead.

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Editorial Rating

9

Qualities

  • Scientific
  • Applicable
  • Well Structured

Recommendation

Salespeople often pattern their techniques on the best practices of experts in the field. Erik Peterson and Tim Riesterer, who base their recommendations on behavioral research, suggest that instead, salespeople should rely on “scientific rigor,” by applying the lessons their firm learned from studying thousands of salespeople’s techniques and their ensuing success. They focus on the practical application of the cause-and-effect results of their studies and tell you how to put their data to work.

Summary

Current customers account for 70% to 80% of most firms’ revenue; treat them well.

According to analysts, existing customers account for three-quarters of most companies’ revenues and sales expansion opportunities. So, besides treating existing customers with kid gloves, companies must communicate with them in a compelling, engaging way. They are crucial revenue sources.

The problem is, most vendors have a one-size-fits-all marketing, sales and messaging approach for prospects – and the same approach for existing customers. That’s counterproductive; when it comes to the sales issues that matter most to B2B companies, existing customers have virtually nothing in common with prospects.

Powerful sales messages are worthless if B2B salespeople don’t communicate them properly.

You can arrive with the greatest sales messages for your customer, but if you lack the communication skills to deliver your messages convincingly and compellingly, you’ll waste precious assets.

Consider how you want to communicate and what skills you want to bring to the fore, so you deliver the correct sales messages in the best...

About the Authors

Erik Peterson is the CEO of Corporate Visions, where Tim Riesterer is chief strategy officer. Collaborators include Rob Perrilleon, senior vice president in charge of delivery services; Doug Hutton, VP in charge of training; and Leslie Talbot, VP of customer and commercial excellence activities. Joe Collins is a consultant, and Nick Lee, PhD, is a professor of marketing at the Warwick Business School.

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