Infographic: 10 Steps for Growing Your Key Accounts
By Erica Stritch

growing accounts infographic

Retaining current customers costs 6-7x less than acquiring news ones, and improving customer retention rates by a mere 5% can increase profit per customer by 25%-95%. So it makes sense that top companies focus on building relationships, increasing loyalty, and selling more to current customers as a growth strategy.

Based on our extensive research in strategic account management, we've identified 10 steps you can take to replicate their successes.

View the infographic now.

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Likability in Sales – Does it Matter?
By Mike Schultz

likability in sales

Years ago, I was working for a company that had just made the decision to go public. After a lengthy deliberation, the company chose a particular big-five firm (at the time there were five) to handle the preparations for our public offering. Curious, I asked the chief financial officer how he made the decision.

He invited me to his office and showed me a chart of all the qualifications and decision criteria and how each firm stacked up. It was obvious there was a clear winner.

Then he asked me if I wanted to know how he had really made the decision. Of course, I said yes. He said, "Close the door." Intriguing...

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Top 10 Strategic Account Management Challenges [Research]
By Mike Schultz

strategic account management

When it comes to growing accounts, challenges abound. In our Benchmark Report on High Performance in Strategic Account Management, we asked:

Consider the challenges your company faces in strategic account management. For each factor indicate how challenging it is to your company's SAM efforts.

Here are the results.

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The #1 Action for Strategic Account Growth [Research]
By Mike Schultz

strategic account management

Companies take lots of actions to grow accounts. Some work better than others.

However, none of them work very well if you don't take care of one important action up front.

We at RAIN Group studied more than 370 companies that engage in formal strategic account management, and published the results in the Benchmark Report on High Performance in Strategic Account Management.

We asked: What ACTIONS do you believe contribute most to your efforts to maximize revenue from accounts? We then split the results into 2 groups: high performers and below-average/average performers in SAM.

Here's what the high performers do to maximize revenue at their accounts.

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15 Ideas for Selling with LinkedIn
By Mike Schultz

selling with linked in

75% of B2B buyers use social media to make decisions according to IDC research.

Sellers who use social selling are 51% more likely to exceed quota1, and 89.9% of top sellers view LinkedIn as essential2.

It's still the case, however, that many sellers are just getting started with LinkedIn. Mostly it seems they don't know what to do. Here are 15 ideas for spending 15 minutes a day selling with LinkedIn. I challenge you to do this for at least 15 days in the next month.

After the 15 days you'll have a good sense of whether LinkedIn should be a part of your selling routine.

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