In to day’s economic climate, growing business within your embedded base of customers has never been more important. It is relatively easier to up-sell or cross-sell an existing customer than to acquire a new one. However, in order to acquire follow-on business with a current customer, you must do four things, and do them well.
1. First and foremost, you must be meeting your performance metrics with your client. Do NOT ask for more if you aren’t delivering on your present engagement. You should have a set of explicit measurement criteria that you and your customer can measure objectively. In addition to any contractual measurements, consider, at the start of the project, proposing a set of ongoing metrics that you can both use to ensure the customer’s explict and implicit goals are being met. You don’t have to go out of scope to agree that to additional metrics. These are as important to you as they are to the customer. Remember, meeting your performance metrics is your credibility proof-statement. Doing so gives you undeniable credibility with the customer and is the basis of all interaction. Without it, you simply don’t have a leg to stand on.
2. Second, have meaningful dialogue with your client about their future. You have credibility and access. Do not hesitate to build your perspective into the conversation. You need to be seen as a player/coach and not just a fan. Think of the metrics you’re using to monitor performance of the project you’re currently performing as a baseline, and dialog with with your client about the future. If you’re meeting your performance metrics, your observations about current issues and future direction or plans will carry greater gravitas. This isn’t sales-talk either. Put yourself in the client’s shoes. You’re there performing a service in support of their mission, otherwise they wouldn’t be speding the money, and if you’re doing the job well (remember the metrics) in a measurable way, a savvy client is going to want to know what you think. Still a little unsure? Think of yourself as a doctor diagnosing the symptoms of patient. If you’ve been performing well on your current engagement with the client, he or she trusts you. You have insight into the issues that are unique, and, hopefully, you have a solution to whatever is “ailing” the client. Sit with the client, make a diagnosis, be prescriptive, and make a prognosis.
3. Third, measure your progress by the commitments made by the client, not by how much work you’re having to do to move the conversation along. We call this Commitment Oriented Progression. If the client is serious about solving additional problems or giving you additional work they will commit time, data or money. Time and again we’ve seen pipelines where the next step to closing business involves the salesperson doing something while the prospect waits passively. If the prospect is passive, you might as well delete the opportunity from the pipeline. In every interaction, it is essential that you look for the prospect to commit to something, whether is a follow-on phone or meeting(Time), sending you some information(Data), or committing to the next project(Money). These are meaningful milestones.
4. Obtain feedback regularly. Schedule regular review meetings with your customer to review the performance metrics. Share your thoughts on how things are going. Affiliate with the client. At the end of the review meetings it’s helpful to ask if the frequency of meetings is working well for them. You want your discussions to be seen as meaningful, so don’t be afraid to tweak the schedule.
As strange as it may sound to you, I can just about guarantee that your client does not want to go outside their present providers to get the job done. The only thing better than working with someone you know, is working with someone who knows you, and well. Make sure they know what you’re capable of doing above and beyond your present engagement, and make sure that they’re aware of your perspective.
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