The CEOs of two different companies recently asked for my help. They have similar challenges, how to grow their revenue and market share, but from different perspectives.
Company 1 delivers high-quality products to nationally known customers. They’ve grown their business by growing their customers and expanding their footprint across their customers’ business lines. Their customer focus is second to none. Existing customers find ways to expand their business with this company. However, Company 1 has difficulty attracting and closing new customers.
Company 2 is in a completely different industry. Company 2 has built its business by attracting new customers with industry-leading metrics on services that provide customers with significant savings and greater responsiveness than its competitors. Company 2’s sales team loves to find and close new customers. And, they’re really good at it! But, Company 2 has a small share of their customers’ total spend in their market and they’ve not been able to grow that share.
Two sides of the same coin. You can grow revenue and market share by growing your current customers. Or, you can grow by selling to and closing new customers. The best companies execute well on both fronts.
Wallace Management Group helps companies drive sales success. We can help you develop your account managers and business development reps to achieve balanced growth.