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The financial impact of clients who don't think you care.
With the constant drive to create more revenue for your firm, you typically focus on acquiring new clients. The CMO Council surveyed 450 marketing executives worldwide regarding their approach to customer retention. “Nearly 67 percent of executives say they have no system for reactivating dormant or lost customers, and only half have a strategy for further penetrating or monetizing key account relationships.” Do you have a process in place?
Report on "Business Gain from How You Retain Clients" from the CMO Council
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“Results speak for themselves. In a very short time, Sales-Onsite has boosted our new business development efforts by generating quality leads with big potential. Their professionalism and ability to understand our market have been key factors in the success of our relationship. I’ve worked with other lead-generation firms, but Sales-On-Site has provided a far superior experience -- from their responsive service and willingness to listen to our needs, to their ability to reach the right prospects for us. I can truly say they’ve made a real difference in the growth of our company.”
Patrick Sheehy, Managing Partner, s2 marketing + communications, Chicago, IL
“I engaged Sales-Onsite for a project with which I was involved and worked directly with Kathryn Neal-Odell. She is the consummate professional, and always a joy with which to work. Her expertise in the areas of lead generation, market penetration, and branding would be key assets to any small to medium business or entity looking to grow their business. The caliber of people with which Kathryn surrounds herself mirrors her passion & acumen. I would highly recommend Sales-Onsite to anyone.”
CEO, Technology Marketing Firm, Raleigh-Durham, NC |
How marketing firms miss revenue opportunities
Much like “dating,” when you reach out to a prospective client for your marketing services, they are in one of three relationship stages: 1) They are in a relationship, are happy and are not open to exploring a new relationship; 2) They are in a relationship, not entirely satisfied and are open to finding out more about you; or 3) They are actively looking for a new partner.
#3 is easy. You can then engage in an active sales process. If your prospect can be defined as in the 1st or 2nd stage, you need a strong lead nurturing program to take those relationships to the next level. This is where marketing firms miss the boat. When you acquire a new client, prospect nurturing becomes a non-priority. When you lose a client, you scramble to replace them. Wouldn’t it make more sense to continually build a pipeline of prospects?
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