Dec 7, 2018
I hold this truth to be self-evident: No matter what you sell, there is no higher-margin business than repeat business from your existing customers.
Why? Because add-on business doesn't have the high cost of acquisition that new business from a prospect has. in other words, the cost of sales associated with your current customers is much, much lower than the cost of sales associated with brand-new customers.
This principle is no big secret, and most salespeople would probably be able to express it during, say, a job interview. The true secret to success in the realm of sales, I would submit, lies not in your ability to repeat this principle, but in your ability to implement it. Specifically, it lies in your willingness to address this question:
"How can I go about getting all the add-on business I've worked hard for and deserve from my existing customers, and, while I'm at it, take every in-process opportunity I'm currently working on and expand the initial sale amount?"