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Truth Bomb Tuesday It’s 19x easier to sell something new to an existing client than it is to win a new logo. Most buyers (B2B) want to do “more business with LESS vendors”. CX and Lifetime Customer Value (LCV) are the keys to: - Churn mitigation - Customer loyalty - Brand perception - Buyer advocacy and those important testimonials and referrals. So, why are so many vendor sales people focused only on finding new logos? Focus on Retention, and less on Acquisition. #salesenablement #salestransformation

Truth Bomb Tuesday - #7

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Gabe Tuhoro

Investor | Founder | Fractional Sales Teams Performance Advisor | Actively Seeking to Buy Privately-Owned Aged Care Assisted Residences and Other Related Healthcare Businesses in New Zealand, 2025 and Beyond

6 年

Haha so true Scott Marker and the 'duhz' in the world keep soaking it up lol nothing changes, if nothing changes????

Gabe Tuhoro

Investor | Founder | Fractional Sales Teams Performance Advisor | Actively Seeking to Buy Privately-Owned Aged Care Assisted Residences and Other Related Healthcare Businesses in New Zealand, 2025 and Beyond

6 年

20 years ago at a business seminar an Aussie bloke, Brad Sugars, (couldn't afford to go see Dan Kennedy, as an aspiring start-up, in America at the time lol) He stated it costs 7 times more to attract a new lead than to retain one..it seems like that number has nearly tripled since then?????? Great stuff Graham

Daniel Prince

Host at Once BITten Podcast

6 年

Shared!

Graham, it's the age old division between "hunters and farmers". Farmers are seen as the dullards of sales, they just plod on, keep calling on the same customers and keep a steady stream of incremental revenue coming in. Hunters are the glamour guys, the Spitfire pilots,? - they go out and find fresh meat to bring back to their masters to demonstrate they are real men. It really is caveman behaviour. First we have to stop this crazy differentiation. When I was asked in interviews about this I always responded that all revenue is new regardless of where it comes from and I preferred to hunt on my own land. Sales managers also tend to perceive that you only have competition for new accounts so you have to go out and fight for them against all those nasty competitors. Therefore leaving the farm that is feeding you undefended.... Again it all comes back to this insatiable demand to grow revenues and have new trophy accounts to put on your website. I don't have an issue with growth, but the means employed by most companies to get it are neolithic. As are the attitudes behind them. It's indulgent and self centered, and soon will be irrelevant when the buyers start to hit back.

Mike Sawchuk

Help BSCs & In-house Cleaning Ops with their pain points, and then provide consistently superior results. Also help mfgs & distributors achieve true strategic growth. Author. Speaker.

6 年

So true,? Concentrate on retention; and optimization of more products or more applications for existing products with existing customers.

Bevan Stephenson

Empowering Seamless Hiring Anywhere in the World ???? Global Workforce Strategist | Remote Work Enthusiast | Expert in Global Talent |

6 年

I totally agree Graham, I’ve worked in a company who’s MO was to churn through net new business logos, taking as much revenue as possible before moving on quickly to the next. When reviewing the companies account base, which was impressive i clearly identified they had such a churn and burn mentality, so much so they left companies or as I called them (carcass of companies) behind with low hanging fruit ready to be picked. Stop chasing and start nurturing!

Marcello Silvestri

Advisor International Expansion & Commercial Strategy

6 年

Agree Graham, although the existing client used to be new logo. The key i guess is finding the balance: cross sell to existing AND keeping an eye on scalable new logos

Martin E. Stevens

Hate cold calling? Meeting the wrong people? Can't attract big customers? All of our customers agreed with at least one of these, but if you said no to all three, we won't be doing business together.

6 年

I think Atlassian?are the global benchmark for the Connected Sales Model you're talking about Graham Hawkins. The Connected Model means vendors must connect customers to the products and buying experience they want (and that CX is integral to the product). Atlassian would agree with you that it's 19X easier to sell to a 'client' than a 'prospect' so the easiest way to convert prospects into clients is to remove as many barriers to purchase as possible. They've adopted an almost B2C style sales approach to new logos. It is all online, extremely easy to demo – to try for free. Their products also have a familiar, consumer-like pricing model, and their terms are clear and transparent – and all available on the website. They keep it simple. In an SCC filing Atlassian stated “Traditional enterprise software distribution models, with their focus on quota-driven sales representatives and reliance on large deals, are not well suited to reach, influence or meet the needs of teams, who are increasingly driving technology purchasing decisions.”? But don't be fooled by the "No Salespeople" hype. They have a suite of products they cross and up-sell the shit out of... but only once you're a client!?

David Carman

Mentor ? Leadership and Mindfulness Coach ?? VideoMyJob CoFounder ??

6 年

Great advice as always Graham - thks !!

David Dalley

Business Development Manager at Spark New Zealand Limited

6 年

Agree completely Graham Hawkins . Well said.

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