Babette Ten Haken

Contact Babette
  • Home
  • Programs
    • Keynote Presentations
    • Breakouts & Workshops
    • Coaching & Mentoring
  • Blog
  • About Babette
    • Testimonials
    • Honors & Awards
  • Contact Me!
You are here: Home / Collaboration And Convergence / Renewal Business – Cultivate, don’t Ignore

Renewal Business – Cultivate, don’t Ignore

March 20, 2015 by Babette Ten Haken Leave a Comment

Your renewal business is the bread and butter of your customer base. Whether you sell subscription or licensed services or whether you provide custom fabricated manufactured outcomes.

Your renewal business customers represent loyal customers who believe in you as a businessperson of worth. Your partnership with their company has resulted in increases in efficiencies and profitability, over time.

Are you cultivating these important customers or are you ignoring them during the time between renewals or when they issue RFQs?

Each fiscal year starts off with pressing urgency, emphasizing new business development to feed the pipeline. Your managers are pushing you to produce. You want to win the quarterly sales contest. The nicest compensation strategies emphasize new customer contracts over existing customers.

What else are you supposed to do to keep everyone happy back at Corporate?

Here’s another way of looking at the situation. Cut yourself some slack in the process.

While you are busy chasing new business, your existing customers can offer you a sanity oasis. After all, you both are comfortable working with one another. Check in from time to time. Offer relevant content that may not even be related to your own products and services. Ask them why they enjoy doing business with you. Your actions speak volumes in letting them know that while you are out of sight, they remain top of your mind.

Your existing customers can be excellent sounding boards for new business development. Your current customer base has solid information about industry and local trends which may impact your current prospective customers’ willingness or reluctance to sign on with you. Take the time to talk trends with current customers. Their insights may help you better understand why your current selling strategy and tactics may be falling short.

Your existing customers are solid resources for building new business through referrals. While loyal customers may not be open to referring you to competitors, their network can extend beyond their own industry. Let them know you would appreciate their referral. Many times, your current customers overlook how they can assist you in building your own business.

Create a renewal business calendar to assist you in maintaining your touches on these important existing customers. Circumstances change during the course of their business year. Their company structure can change as well. Assure that you and your products, services and platforms are top-of-mind when their company expands into new markets. Become part of their expansion strategy in the process.

Renewal business provides you with a solid foundation to power your sales strategy throughout the year. Don’t take it for granted in your rush to sell new accounts.

Babette N. Ten Haken, President of Sales Aerobics for Engineers®, LLC, is a business coach and management consultant.  She remodels startups and small-to-medium size manufacturing and service companies experiencing unpredictable revenue streams and inconsistent growth and expansion initiatives. Babette was named a Social Selling 2015 Top50  Influencer and a 2014 Top 50 Marketing & Sales Influencer. Babette’s blog won the 2014 Bronze Medal, Top Sales World. Babette’s book on horizontal business development and collaboration strategies, including tools, Do YOU Mean Business?  is available on Amazon.com. 

Enjoy this post? Please share it!

Share on X (Twitter)Share on FacebookShare on LinkedInShare on EmailShare on Reddit

Filed Under: Collaboration And Convergence, Professional Development Tagged With: business, customer base, customers, renewal business

About Babette Ten Haken

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hire Babette to speak at your next conference or corporate meeting.

https://youtu.be/Yf-h80O_QZ4
Sign up to receive posts via email
Please wait...
Please enter all required fields Click to hide
Correct invalid entries Click to hide
No spam, ever. Promise. Powered by FeedBlitz
SalesProCentral
Customer Experience Update

Categories

  • Collaboration And Convergence
  • Customer Experience, Success, Loyalty, Retention
  • Human Capital & Industrial IoT Workforce
  • Professional Development
  • Trending Book Reviews
  • Uncategorized

Recent Posts

  • You Need To Have Your Own Back First
  • Smarter Questions Yield More Informative Answers
  • Find Your Daily True North
  • Are You Upskilling Tactically Or Strategically?
  • Are You Really Spending Quality Time With Colleagues And Clients?

Archives

Revenue-Generating Problem Solving | Professional Innovation | Collaborative Leadership | Keynotes, Workshops, Facilitation Learn more....

Contact Babette
Sign up to receive posts via email
Please wait...
Please enter all required fields Click to hide
Correct invalid entries Click to hide
No spam, ever. Promise. Powered by FeedBlitz

Recent Posts

You Need To Have Your Own Back First

Smarter Questions Yield More Informative Answers

Find Your Daily True North

Follow Us!

Follow Us on FacebookFollow Us on TwitterFollow Us on LinkedInFollow Us on Instagram

Privacy Policy

Change Catalyst | Revenue-Generating Problem Solving | Professional Innovation | Collaborative Leadership | Keynotes, Workshops, Facilitation
Sales Aerobics for Engineers®, All Rights Reserved 2023 ©
By continuing to browse the site you are agreeing to our use of cookies